WRSM: what changed
What changed
WRSM
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€246,844
2024 · €248,041-€1,196
Equity
€3.8m
2024 · €3.5m+€246,844
Cash
€28,920
2024 · €12,383+€16,537
Balance sheet total
€4.0m
2024 · €3.7m+€332,548
Largest movements
Assets
- Receivables within one year +€306,683
up €306,683 (+3,168%), from €9,680 to €316,363
of which Trade receivables: +€300,000
Equity and liabilities
- Reserves +€246,844
up €246,844 (+7.5%), from €3.3m to €3.6m
of which Distributable reserves: +€246,844
- Other debts +€58,419
up €58,419 (+54.0%), from €108,174 to €166,592
Income statement
- Depreciation -€8,739
down €8,739 (-31.2%), from €27,989 to €19,251
- Financial charges +€5,082
up €5,082 (+562%), from €904 to €5,986
- Gross operating margin -€3,916
down €3,916 (-1.1%), from €360,507 to €356,590
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€248,041
Gross operating margin
-€3,916
Depreciation
+€8,739
Other operating charges
-€2
Financial income
-€2,631
Financial charges
-€5,082
Taxes
+€1,696
Result 2025
€246,844
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€17,463
Investment
-€925
Financing
€0
Cash 2024
€12,383
From operations (derived)
+€17,463
Net result for the year
+€246,844
Depreciation
+€19,251
Receivables within one year
-€306,683
Deferred charges and accrued income
-€27,652
Trade debts
+€409
Tax, wage and social debts
+€26,876
Other debts
+€58,419
Investment (derived)
-€925
Investment in fixed assets (net)
-€925
Cash 2025
€28,920
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,664,710 | €3,997,257 | +€332,548 | +9.1% |
| Fixed assets | 21/28 | €2,722,747 | €2,704,422 | -€18,325 | -0.7% |
| Tangible fixed assets | 22/27 | €55,597 | €37,272 | -€18,325 | -33.0% |
| Furniture and vehicles | 24 | €55,597 | €37,272 | -€18,325 | -33.0% |
| Financial fixed assets | 28 | €2,667,150 | €2,667,150 | = | 0.0% |
| Current assets | 29/58 | €941,963 | €1,292,836 | +€350,873 | +37.2% |
| Amounts receivable within one year | 40/41 | €9,680 | €316,363 | +€306,683 | +3,168% |
| Trade receivables | 40 | €9,680 | €309,680 | +€300,000 | +3,099% |
| Other amounts receivable | 41 | €0 | €6,683 | +€6,683 | |
| Current investments | 50/53 | €910,000 | €910,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,383 | €28,920 | +€16,537 | +134% |
| Deferred charges and accrued income | 490/1 | €9,900 | €37,552 | +€27,652 | +279% |
| Total equity and liabilities | 10/49 | €3,664,710 | €3,997,257 | +€332,548 | +9.1% |
| Equity | 10/15 | €3,528,930 | €3,775,775 | +€246,844 | +7.0% |
| Contributions | 10/11 | €222,700 | €222,700 | = | 0.0% |
| Reserves | 13 | €3,306,230 | €3,553,075 | +€246,844 | +7.5% |
| Tax-exempt reserves | 132 | €875 | €875 | = | 0.0% |
| Distributable reserves | 133 | €3,305,355 | €3,552,199 | +€246,844 | +7.5% |
| Amounts payable | 17/49 | €135,780 | €221,483 | +€85,703 | +63.1% |
| Amounts payable within one year | 42/48 | €135,780 | €221,483 | +€85,703 | +63.1% |
| Trade debts | 44 | €1,590 | €1,998 | +€409 | +25.7% |
| Suppliers | 440/4 | €1,590 | €1,998 | +€409 | +25.7% |
| Taxes, remuneration and social security | 45 | €26,016 | €52,892 | +€26,876 | +103% |
| Taxes | 450/3 | €23,982 | €51,418 | +€27,436 | +114% |
| Remuneration and social security | 454/9 | €2,035 | €1,475 | -€560 | -27.5% |
| Other amounts payable | 47/48 | €108,174 | €166,592 | +€58,419 | +54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,989 | €19,251 | -€8,739 | -31.2% |
| Other operating charges | 640/8 | €2,114 | €2,116 | +€2 | +0.1% |
| Gross operating margin | 9900 | €360,507 | €356,590 | -€3,916 | -1.1% |
| Operating profit (loss) | 9901 | €330,403 | €335,224 | +€4,820 | +1.5% |
| Financial income | 75/76B | €29,945 | €27,314 | -€2,631 | -8.8% |
| Recurring financial income | 75 | €29,945 | €27,314 | -€2,631 | -8.8% |
| Financial charges | 65/66B | €904 | €5,986 | +€5,082 | +562% |
| Recurring financial charges | 65 | €904 | €5,986 | +€5,082 | +562% |
| Profit (loss) for the period before taxes | 9903 | €359,444 | €356,552 | -€2,893 | -0.8% |
| Income taxes | 67/77 | €111,404 | €109,707 | -€1,696 | -1.5% |
| Profit (loss) for the period | 9904 | €248,041 | €246,844 | -€1,196 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €248,041 | €246,844 | -€1,196 | -0.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.