WPMI: 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.
WPMI
Largest movements
- Receivables within one year +€507,333
up €507,333 (+168%), from €302,500 to €809,833
of which Trade receivables: +€507,333
- Cash -€149,930
down €149,930 (-30.9%), from €484,826 to €334,896
mainly Receivables within one year (-€507,333) and Contributions, distributions and other (-€458,228)
- Current investments +€65,576
up €65,576 (+13.2%), from €498,452 to €564,027
- Tangible fixed assets -€40,089
down €40,089 (-10.0%), from €399,051 to €358,962
of which Furniture and vehicles: -€30,287
- Reserves +€318,793
up €318,793 (+45.9%), from €693,988 to €1.0m
of which Distributable reserves: +€329,163
- Current portion of long-term debt +€76,683
up €76,683 (+158%), from €48,549 to €125,232
- Debts after one year -€50,232
down €50,232 (-19.7%), from €254,361 to €204,128
- Tax, wage and social debts +€29,671
up €29,671 (+15.3%), from €193,321 to €222,992
- Gross operating margin +€427,091
up €427,091 (+66.1%), from €646,240 to €1.1m
- Taxes +€109,943
up €109,943 (+72.0%), from €152,784 to €262,727
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 | €1,687,282 | €2,070,558 | +€383,276 | +22.7% |
| Fixed assets | 21/28 | €399,051 | €358,962 | -€40,089 | -10.0% |
| Tangible fixed assets | 22/27 | €399,051 | €358,962 | -€40,089 | -10.0% |
| Land and buildings | 22 | €214,808 | €205,006 | -€9,802 | -4.6% |
| Furniture and vehicles | 24 | €141,743 | €111,456 | -€30,287 | -21.4% |
| Other tangible fixed assets | 26 | €42,500 | €42,500 | = | 0.0% |
| Current assets | 29/58 | €1,288,231 | €1,711,596 | +€423,365 | +32.9% |
| Amounts receivable within one year | 40/41 | €302,500 | €809,833 | +€507,333 | +168% |
| Trade receivables | 40 | €302,500 | €809,833 | +€507,333 | +168% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €498,452 | €564,027 | +€65,576 | +13.2% |
| Cash at bank and in hand | 54/58 | €484,826 | €334,896 | -€149,930 | -30.9% |
| Deferred charges and accrued income | 490/1 | €2,452 | €2,839 | +€386 | +15.8% |
| Total equity and liabilities | 10/49 | €1,687,282 | €2,070,558 | +€383,276 | +22.7% |
| Equity | 10/15 | €698,988 | €1,017,781 | +€318,793 | +45.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €693,988 | €1,012,781 | +€318,793 | +45.9% |
| Tax-exempt reserves | 132 | €235,760 | €225,390 | -€10,370 | -4.4% |
| Distributable reserves | 133 | €458,228 | €787,391 | +€329,163 | +71.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €988,294 | €1,052,777 | +€64,483 | +6.5% |
| Amounts payable after more than one year | 17 | €254,361 | €204,128 | -€50,232 | -19.7% |
| Financial debts | 170/4 | €254,361 | €204,128 | -€50,232 | -19.7% |
| Amounts payable within one year | 42/48 | €733,533 | €847,733 | +€114,200 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €48,549 | €125,232 | +€76,683 | +158% |
| Financial debts | 43 | €16,944 | €25,418 | +€8,474 | +50.0% |
| Credit institutions | 430/8 | €16,944 | €25,418 | +€8,474 | +50.0% |
| Trade debts | 44 | €684 | €9,057 | +€8,373 | +1,224% |
| Suppliers | 440/4 | €684 | €9,057 | +€8,373 | +1,224% |
| Taxes, remuneration and social security | 45 | €193,321 | €222,992 | +€29,671 | +15.3% |
| Taxes | 450/3 | €193,321 | €222,992 | +€29,671 | +15.3% |
| Other amounts payable | 47/48 | €474,036 | €465,034 | -€9,001 | -1.9% |
| Accrued charges and deferred income | 492/3 | €400 | €915 | +€515 | +129% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,548 | €52,004 | +€456 | +0.9% |
| Other operating charges | 640/8 | €1,121 | €2,777 | +€1,657 | +148% |
| Gross operating margin | 9900 | €646,240 | €1,073,331 | +€427,091 | +66.1% |
| Operating profit (loss) | 9901 | €593,571 | €1,018,549 | +€424,978 | +71.6% |
| Financial income | 75/76B | €22,231 | €32,336 | +€10,106 | +45.5% |
| Recurring financial income | 75 | €22,231 | €32,336 | +€10,106 | +45.5% |
| Financial charges | 65/66B | €4,790 | €11,138 | +€6,348 | +133% |
| Recurring financial charges | 65 | €4,790 | €11,138 | +€6,348 | +133% |
| Profit (loss) for the period before taxes | 9903 | €611,012 | €1,039,748 | +€428,736 | +70.2% |
| Income taxes | 67/77 | €152,784 | €262,727 | +€109,943 | +72.0% |
| Profit (loss) for the period | 9904 | €458,228 | €777,021 | +€318,793 | +69.6% |
| Transfer from tax-exempt reserves | 789 | - | €10,370 | +€10,370 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €458,228 | €787,391 | +€329,163 | +71.8% |
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 22 October 2026 via checked.be.