WPD BELGIUM: what changed
Two financial 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.
WPD BELGIUM
Largest movements
- Cash +€215,258
up €215,258 (+206%), from €104,344 to €319,603
mainly Current portion of long-term debt (+€1.3m) and Trade debts (+€173,173)
- Tangible fixed assets +€37,020
new in 2025: €37,020
of which Plant, machinery and equipment: +€36,054
- Receivables within one year +€4,974
up €4,974 (+4.3%), from €116,581 to €121,555
of which Trade receivables: +€20,941
- Current portion of long-term debt +€1.3m
new in 2025: €1.3m
- Profit (loss) carried forward -€781,424
down €781,424 (-197%), from -€396,516 to -€1.2m
- Debts after one year -€400,000
no longer reported in 2025 (was €400,000)
- Trade debts +€173,173
up €173,173 (+114%), from €151,661 to €324,834
- Staff costs +€246,049
up €246,049 (+144%), from €170,501 to €416,550
- Gross operating margin -€110,749
down €110,749 (-50.6%), from -€218,979 to -€329,728
- Financial charges +€24,796
up €24,796 (+397%), from €6,239 to €31,035
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.
Derived cash bridge
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 | €224,565 | €482,604 | +€258,038 | +115% |
| Formation expenses | 20 | €2,236 | €1,697 | -€539 | -24.1% |
| Fixed assets | 21/28 | €1,325 | €38,719 | +€37,394 | +2,823% |
| Tangible fixed assets | 22/27 | - | €37,020 | +€37,020 | |
| Plant, machinery and equipment | 23 | - | €36,054 | +€36,054 | |
| Furniture and vehicles | 24 | - | €966 | +€966 | |
| Financial fixed assets | 28 | €1,325 | €1,699 | +€374 | +28.3% |
| Current assets | 29/58 | €221,005 | €442,188 | +€221,183 | +100% |
| Amounts receivable within one year | 40/41 | €116,581 | €121,555 | +€4,974 | +4.3% |
| Trade receivables | 40 | €85,793 | €106,734 | +€20,941 | +24.4% |
| Other amounts receivable | 41 | €30,788 | €14,821 | -€15,967 | -51.9% |
| Cash at bank and in hand | 54/58 | €104,344 | €319,603 | +€215,258 | +206% |
| Deferred charges and accrued income | 490/1 | €79 | €1,030 | +€951 | +1,209% |
| Total equity and liabilities | 10/49 | €224,565 | €482,604 | +€258,038 | +115% |
| Equity | 10/15 | -€386,516 | -€1,167,940 | -€781,424 | -202% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€396,516 | -€1,177,940 | -€781,424 | -197% |
| Amounts payable | 17/49 | €611,081 | €1,650,544 | +€1.0m | +170% |
| Amounts payable after more than one year | 17 | €400,000 | - | -€400,000 | |
| Financial debts | 170/4 | €400,000 | - | -€400,000 | |
| Amounts payable within one year | 42/48 | €205,291 | €1,640,474 | +€1.4m | +699% |
| Current portion of amounts payable after more than one year | 42 | - | €1,260,000 | +€1.3m | |
| Trade debts | 44 | €151,661 | €324,834 | +€173,173 | +114% |
| Suppliers | 440/4 | €151,661 | €324,834 | +€173,173 | +114% |
| Taxes, remuneration and social security | 45 | €53,630 | €55,641 | +€2,010 | +3.7% |
| Taxes | 450/3 | €12,508 | €531 | -€11,977 | -95.8% |
| Remuneration and social security | 454/9 | €41,122 | €55,110 | +€13,987 | +34.0% |
| Accrued charges and deferred income | 492/3 | €5,790 | €10,069 | +€4,280 | +73.9% |
| Remuneration, social security and pensions | 62 | €170,501 | €416,550 | +€246,049 | +144% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €460 | €3,039 | +€2,579 | +561% |
| Other operating charges | 640/8 | €150 | €1,376 | +€1,226 | +817% |
| Gross operating margin | 9900 | -€218,979 | -€329,728 | -€110,749 | -50.6% |
| Operating profit (loss) | 9901 | -€390,089 | -€750,692 | -€360,602 | -92.4% |
| Financial income | 75/76B | - | €833 | +€833 | |
| Recurring financial income | 75 | - | €833 | +€833 | |
| Financial charges | 65/66B | €6,239 | €31,035 | +€24,796 | +397% |
| Recurring financial charges | 65 | €6,239 | €31,035 | +€24,796 | +397% |
| Profit (loss) for the period before taxes | 9903 | -€396,328 | -€780,893 | -€384,565 | -97.0% |
| Income taxes | 67/77 | €188 | €531 | +€343 | +183% |
| Profit (loss) for the period | 9904 | -€396,516 | -€781,424 | -€384,908 | -97.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€396,516 | -€781,424 | -€384,908 | -97.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.