WP&J: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
WP&J
Largest movements
- Receivables after one year -€62,000
down €62,000 (-39.5%), from €157,000 to €95,000
- Cash -€50,438
down €50,438 (-17.4%), from €290,673 to €240,235
mainly Contributions, distributions and other (-€386,156) and Receivables within one year (-€22,282)
- Receivables within one year +€22,282
up €22,282 (+73.5%), from €30,315 to €52,597
- Tangible fixed assets -€6,115
down €6,115 (-17.7%), from €34,464 to €28,349
of which Furniture and vehicles: -€7,994
- Reserves -€247,014
down €247,014 (-62.7%), from €394,156 to €147,142
- Other debts +€168,924
up €168,924 (+16325.0%), from €1,035 to €169,959
- Tax, wage and social debts -€15,350
down €15,350 (-14.3%), from €107,462 to €92,112
- Gross operating margin +€23,563
up €23,563 (+14.2%), from €165,739 to €189,303
- Financial income +€7,265
new in 2025: €7,265
- Taxes +€6,846
up €6,846 (+18.4%), from €37,282 to €44,128
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €513,906 | €419,560 | -€94,346 | -18.4% |
| Fixed assets | 21/28 | €34,464 | €28,349 | -€6,115 | -17.7% |
| Tangible fixed assets | 22/27 | €34,464 | €28,349 | -€6,115 | -17.7% |
| Plant, machinery and equipment | 23 | €1,474 | €859 | -€615 | -41.7% |
| Furniture and vehicles | 24 | €29,700 | €21,706 | -€7,994 | -26.9% |
| Other tangible fixed assets | 26 | €3,290 | €5,785 | +€2,494 | +75.8% |
| Current assets | 29/58 | €479,442 | €391,210 | -€88,231 | -18.4% |
| Amounts receivable after more than one year | 29 | €157,000 | €95,000 | -€62,000 | -39.5% |
| Other amounts receivable | 291 | €157,000 | €95,000 | -€62,000 | -39.5% |
| Amounts receivable within one year | 40/41 | €30,315 | €52,597 | +€22,282 | +73.5% |
| Trade receivables | 40 | €30,315 | €52,597 | +€22,282 | +73.5% |
| Cash at bank and in hand | 54/58 | €290,673 | €240,235 | -€50,438 | -17.4% |
| Deferred charges and accrued income | 490/1 | €1,453 | €3,378 | +€1,925 | +132.4% |
| Total equity and liabilities | 10/49 | €513,906 | €419,560 | -€94,346 | -18.4% |
| Equity | 10/15 | €399,156 | €152,142 | -€247,014 | -61.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €394,156 | €147,142 | -€247,014 | -62.7% |
| Distributable reserves | 133 | €394,156 | €147,142 | -€247,014 | -62.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €114,750 | €267,417 | +€152,668 | +133.0% |
| Amounts payable within one year | 42/48 | €114,750 | €267,417 | +€152,668 | +133.0% |
| Trade debts | 44 | €6,253 | €5,346 | -€907 | -14.5% |
| Suppliers | 440/4 | €6,253 | €5,346 | -€907 | -14.5% |
| Taxes, remuneration and social security | 45 | €107,462 | €92,112 | -€15,350 | -14.3% |
| Taxes | 450/3 | €107,462 | €92,112 | -€15,350 | -14.3% |
| Other amounts payable | 47/48 | €1,035 | €169,959 | +€168,924 | +16325.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,149 | €11,117 | -€32 | -0.3% |
| Other operating charges | 640/8 | €750 | €1,291 | +€541 | +72.2% |
| Gross operating margin | 9900 | €165,739 | €189,303 | +€23,563 | +14.2% |
| Operating profit (loss) | 9901 | €153,841 | €176,895 | +€23,054 | +15.0% |
| Financial income | 75/76B | - | €7,265 | +€7,265 | |
| Recurring financial income | 75 | - | €7,265 | +€7,265 | |
| Financial charges | 65/66B | €854 | €890 | +€37 | +4.3% |
| Recurring financial charges | 65 | €854 | €890 | +€37 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €152,987 | €183,270 | +€30,282 | +19.8% |
| Income taxes | 67/77 | €37,282 | €44,128 | +€6,846 | +18.4% |
| Profit (loss) for the period | 9904 | €115,706 | €139,142 | +€23,436 | +20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €115,706 | €139,142 | +€23,436 | +20.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.