WPH: 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.
WPH
Largest movements
- Receivables within one year -€6,492
down €6,492 (-79.1%), from €8,210 to €1,717
of which Trade receivables: -€3,337
- Stocks and contracts -€4,423
down €4,423 (-5.9%), from €75,190 to €70,767
- Tangible fixed assets -€1,919
down €1,919 (-40.1%), from €4,783 to €2,864
- Intangible fixed assets -€953
down €953 (-100%), from €953 to €0
- Profit (loss) carried forward -€12,707
down €12,707 (-3.0%), from -€425,851 to -€438,558
- Gross operating margin +€14,317
up €14,317 (+61.0%), from -€23,464 to -€9,146
- Depreciation -€2,692
down €2,692 (-48.4%), from €5,563 to €2,871
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 | €91,444 | €78,724 | -€12,721 | -13.9% |
| Fixed assets | 21/28 | €7,235 | €4,364 | -€2,871 | -39.7% |
| Intangible fixed assets | 21 | €953 | €0 | -€953 | -100% |
| Tangible fixed assets | 22/27 | €4,783 | €2,864 | -€1,919 | -40.1% |
| Plant, machinery and equipment | 23 | €622 | €124 | -€498 | -80.0% |
| Furniture and vehicles | 24 | €3,566 | €2,739 | -€827 | -23.2% |
| Other tangible fixed assets | 26 | €595 | €0 | -€595 | -100% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €84,209 | €74,360 | -€9,849 | -11.7% |
| Stocks and contracts in progress | 3 | €75,190 | €70,767 | -€4,423 | -5.9% |
| Stocks | 30/36 | €75,190 | €70,767 | -€4,423 | -5.9% |
| Amounts receivable within one year | 40/41 | €8,210 | €1,717 | -€6,492 | -79.1% |
| Trade receivables | 40 | €5,054 | €1,717 | -€3,337 | -66.0% |
| Other amounts receivable | 41 | €3,155 | €0 | -€3,155 | -100% |
| Cash at bank and in hand | 54/58 | €809 | €1,184 | +€375 | +46.4% |
| Deferred charges and accrued income | 490/1 | €0 | €691 | +€691 | |
| Total equity and liabilities | 10/49 | €91,444 | €78,724 | -€12,721 | -13.9% |
| Equity | 10/15 | -€325,851 | -€338,558 | -€12,707 | -3.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€425,851 | -€438,558 | -€12,707 | -3.0% |
| Amounts payable | 17/49 | €417,296 | €417,282 | -€14 | 0.0% |
| Amounts payable after more than one year | 17 | €61,500 | €61,500 | = | 0.0% |
| Financial debts | 170/4 | €61,500 | €61,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €355,796 | €355,782 | -€14 | 0.0% |
| Trade debts | 44 | €1,910 | €1,537 | -€373 | -19.5% |
| Suppliers | 440/4 | €1,910 | €1,537 | -€373 | -19.5% |
| Other amounts payable | 47/48 | €353,886 | €354,244 | +€359 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,563 | €2,871 | -€2,692 | -48.4% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€23,464 | -€9,146 | +€14,317 | +61.0% |
| Operating profit (loss) | 9901 | -€29,540 | -€12,545 | +€16,995 | +57.5% |
| Financial income | 75/76B | €0 | €23 | +€23 | |
| Recurring financial income | 75 | €0 | €23 | +€23 | |
| Financial charges | 65/66B | €280 | €185 | -€96 | -34.1% |
| Recurring financial charges | 65 | €280 | €185 | -€96 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | -€29,820 | -€12,707 | +€17,113 | +57.4% |
| Profit (loss) for the period | 9904 | -€29,820 | -€12,707 | +€17,113 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,820 | -€12,707 | +€17,113 | +57.4% |
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 25 October 2026 via checked.be.