WS CONSTRUCTION: what changed
WS CONSTRUCTION
Largest movements
- Cash +€30,499
up €30,499 (+2,374%), from €1,284 to €31,784
mainly Net result for the year (+€59,800) and Accrued charges and deferred income (+€40,203)
- Tangible fixed assets -€28,813
down €28,813 (-29.4%), from €97,952 to €69,139
of which Leasing and similar rights: -€29,459
- Receivables within one year +€9,410
up €9,410 (+5.8%), from €161,095 to €170,505
of which Other amounts receivable: +€28,091
- Deferred charges and accrued income +€4,113
up €4,113 (+377%), from €1,090 to €5,202
- Reserves +€59,800
up €59,800 (+135%), from €44,319 to €104,119
- Accrued charges and deferred income +€40,203
new in 2025: €40,203
- Tax, wage and social debts -€35,661
down €35,661 (-62.0%), from €57,508 to €21,846
of which Remuneration and social security: -€41,641
- Short-term financial debts -€23,382
down €23,382 (-100%), from €23,382 to €0
- Debts after one year -€21,293
down €21,293 (-37.1%), from €57,335 to €36,042
- Gross operating margin +€99,815
up €99,815 (+34.7%), from €287,411 to €387,226
- Taxes +€29,960
up €29,960 (+3,894%), from €769 to €30,729
- Staff costs +€12,342
up €12,342 (+5.2%), from €239,133 to €251,475
- Write-downs +€6,133
new in 2025: €6,133
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €264,871 | €280,681 | +€15,810 | +6.0% |
| Fixed assets | 21/28 | €101,402 | €73,189 | -€28,213 | -27.8% |
| Tangible fixed assets | 22/27 | €97,952 | €69,139 | -€28,813 | -29.4% |
| Plant, machinery and equipment | 23 | €5,852 | €7,039 | +€1,187 | +20.3% |
| Furniture and vehicles | 24 | €630 | €90 | -€540 | -85.7% |
| Leasing and similar rights | 25 | €91,470 | €62,011 | -€29,459 | -32.2% |
| Financial fixed assets | 28 | €3,450 | €4,050 | +€600 | +17.4% |
| Current assets | 29/58 | €163,469 | €207,492 | +€44,022 | +26.9% |
| Amounts receivable within one year | 40/41 | €161,095 | €170,505 | +€9,410 | +5.8% |
| Trade receivables | 40 | €119,094 | €100,413 | -€18,681 | -15.7% |
| Other amounts receivable | 41 | €42,001 | €70,093 | +€28,091 | +66.9% |
| Cash at bank and in hand | 54/58 | €1,284 | €31,784 | +€30,499 | +2,374% |
| Deferred charges and accrued income | 490/1 | €1,090 | €5,202 | +€4,113 | +377% |
| Total equity and liabilities | 10/49 | €264,871 | €280,681 | +€15,810 | +6.0% |
| Equity | 10/15 | €62,919 | €122,719 | +€59,800 | +95.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,319 | €104,119 | +€59,800 | +135% |
| Distributable reserves | 133 | €44,319 | €104,119 | +€59,800 | +135% |
| Amounts payable | 17/49 | €201,952 | €157,962 | -€43,990 | -21.8% |
| Amounts payable after more than one year | 17 | €57,335 | €36,042 | -€21,293 | -37.1% |
| Financial debts | 170/4 | €57,335 | €36,042 | -€21,293 | -37.1% |
| Amounts payable within one year | 42/48 | €144,617 | €81,717 | -€62,901 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €29,910 | €36,006 | +€6,096 | +20.4% |
| Financial debts | 43 | €23,382 | €0 | -€23,382 | -100% |
| Credit institutions | 430/8 | €23,382 | €0 | -€23,382 | -100% |
| Trade debts | 44 | €33,818 | €23,864 | -€9,953 | -29.4% |
| Suppliers | 440/4 | €33,818 | €23,864 | -€9,953 | -29.4% |
| Taxes, remuneration and social security | 45 | €57,508 | €21,846 | -€35,661 | -62.0% |
| Taxes | 450/3 | €7,531 | €13,511 | +€5,980 | +79.4% |
| Remuneration and social security | 454/9 | €49,976 | €8,335 | -€41,641 | -83.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €40,203 | +€40,203 | |
| Non-recurring operating income | 76A | €1,143 | €0 | -€1,143 | -100% |
| Remuneration, social security and pensions | 62 | €239,133 | €251,475 | +€12,342 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,830 | €34,916 | -€1,915 | -5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,133 | +€6,133 | |
| Other operating charges | 640/8 | €1,706 | €1,611 | -€95 | -5.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €287,411 | €387,226 | +€99,815 | +34.7% |
| Operating profit (loss) | 9901 | €9,742 | €93,092 | +€83,350 | +856% |
| Financial income | 75/76B | €1,269 | €2,660 | +€1,392 | +110% |
| Recurring financial income | 75 | €1,269 | €2,660 | +€1,392 | +110% |
| Financial charges | 65/66B | €8,152 | €5,223 | -€2,929 | -35.9% |
| Recurring financial charges | 65 | €8,152 | €5,223 | -€2,929 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €2,859 | €90,529 | +€87,670 | +3,066% |
| Income taxes | 67/77 | €769 | €30,729 | +€29,960 | +3,894% |
| Profit (loss) for the period | 9904 | €2,090 | €59,800 | +€57,710 | +2,762% |
| Profit (loss) for the period to be appropriated | 9905 | €2,090 | €59,800 | +€57,710 | +2,762% |
Next steps
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.