WRAPZ: 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.
WRAPZ
Largest movements
- Tangible fixed assets -€16,579
down €16,579 (-18.8%), from €88,015 to €71,436
of which Plant, machinery and equipment: -€16,098
- Receivables within one year -€4,322
down €4,322 (-18.0%), from €24,015 to €19,694
of which Trade receivables: -€7,235
- Cash +€3,337
up €3,337 (+15.2%), from €21,886 to €25,223
mainly Depreciation (+€16,681) and Receivables within one year (+€4,322)
- Debts after one year -€17,311
down €17,311 (-20.6%), from €84,071 to €66,759
- Reserves +€3,450
up €3,450 (+76.3%), from €4,520 to €7,970
- Other debts -€3,103
no longer reported in 2025 (was €3,103)
- Tax, wage and social debts +€2,166
up €2,166 (+27.9%), from €7,767 to €9,933
- Current portion of long-term debt -€1,815
down €1,815 (-9.3%), from €19,620 to €17,805
- Gross operating margin +€9,660
up €9,660 (+35.7%), from €27,088 to €36,748
- Depreciation +€3,214
up €3,214 (+23.9%), from €13,467 to €16,681
- Other operating charges +€3,009
up €3,009 (+320.8%), from €938 to €3,947
- Financial charges +€1,953
up €1,953 (+52.5%), from €3,723 to €5,676
of which Financial charges: +€1,653
- Taxes +€1,406
up €1,406 (+232.9%), from €604 to €2,009
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 | €139,959 | €122,623 | -€17,336 | -12.4% |
| Fixed assets | 21/28 | €90,719 | €74,140 | -€16,579 | -18.3% |
| Tangible fixed assets | 22/27 | €88,015 | €71,436 | -€16,579 | -18.8% |
| Plant, machinery and equipment | 23 | €83,298 | €67,200 | -€16,098 | -19.3% |
| Furniture and vehicles | 24 | €4,717 | €4,236 | -€481 | -10.2% |
| Financial fixed assets | 28 | €2,704 | €2,704 | = | 0.0% |
| Current assets | 29/58 | €49,240 | €48,482 | -€757 | -1.5% |
| Stocks and contracts in progress | 3 | €3,339 | €3,566 | +€227 | +6.8% |
| Stocks | 30/36 | €3,339 | €3,566 | +€227 | +6.8% |
| Amounts receivable within one year | 40/41 | €24,015 | €19,694 | -€4,322 | -18.0% |
| Trade receivables | 40 | €22,850 | €15,615 | -€7,235 | -31.7% |
| Other amounts receivable | 41 | €1,165 | €4,079 | +€2,914 | +250.1% |
| Cash at bank and in hand | 54/58 | €21,886 | €25,223 | +€3,337 | +15.2% |
| Total equity and liabilities | 10/49 | €139,959 | €122,623 | -€17,336 | -12.4% |
| Equity | 10/15 | €9,520 | €12,970 | +€3,450 | +36.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,520 | €7,970 | +€3,450 | +76.3% |
| Distributable reserves | 133 | €4,520 | €7,970 | +€3,450 | +76.3% |
| Amounts payable | 17/49 | €130,439 | €109,652 | -€20,787 | -15.9% |
| Amounts payable after more than one year | 17 | €84,071 | €66,759 | -€17,311 | -20.6% |
| Financial debts | 170/4 | €84,071 | €66,759 | -€17,311 | -20.6% |
| Amounts payable within one year | 42/48 | €46,368 | €42,893 | -€3,475 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €19,620 | €17,805 | -€1,815 | -9.3% |
| Trade debts | 44 | €15,879 | €15,156 | -€723 | -4.6% |
| Suppliers | 440/4 | €15,879 | €15,156 | -€723 | -4.6% |
| Taxes, remuneration and social security | 45 | €7,767 | €9,933 | +€2,166 | +27.9% |
| Taxes | 450/3 | €7,767 | €9,933 | +€2,166 | +27.9% |
| Other amounts payable | 47/48 | €3,103 | - | -€3,103 | |
| Remuneration, social security and pensions | 62 | €4,615 | €5,754 | +€1,138 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,467 | €16,681 | +€3,214 | +23.9% |
| Other operating charges | 640/8 | €938 | €3,947 | +€3,009 | +320.8% |
| Gross operating margin | 9900 | €27,088 | €36,748 | +€9,660 | +35.7% |
| Operating profit (loss) | 9901 | €8,067 | €10,367 | +€2,299 | +28.5% |
| Financial income | 75/76B | €778 | €768 | -€10 | -1.3% |
| Recurring financial income | 75 | €698 | €566 | -€133 | -19.0% |
| Non-recurring financial income | 76B | €80 | €202 | +€122 | +153.1% |
| Financial charges | 65/66B | €3,723 | €5,676 | +€1,953 | +52.5% |
| Recurring financial charges | 65 | €3,723 | €5,376 | +€1,653 | +44.4% |
| Non-recurring financial charges | 66B | - | €300 | +€300 | |
| Profit (loss) for the period before taxes | 9903 | €5,123 | €5,459 | +€336 | +6.6% |
| Income taxes | 67/77 | €604 | €2,009 | +€1,406 | +232.9% |
| Profit (loss) for the period | 9904 | €4,520 | €3,450 | -€1,069 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,520 | €3,450 | -€1,069 | -23.7% |
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 11 October 2026 via checked.be.