WSB HOLDINGS: 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.
WSB HOLDINGS
Largest movements
- Receivables within one year +€28,229
up €28,229 (+35.0%), from €80,678 to €108,907
of which Trade receivables: +€31,200
- Cash +€14,160
new in 2025: €14,160
mainly Other debts (+€124,724) and Depreciation (+€7,835)
- Tangible fixed assets -€7,835
down €7,835 (-2.7%), from €285,365 to €277,530
of which Assets under construction and advance payments: -€6,118
- Other debts +€124,724
up €124,724 (+69.2%), from €180,310 to €305,035
- Trade debts -€70,520
down €70,520 (-99.8%), from €70,635 to €115
- Profit (loss) carried forward -€15,981
down €15,981 (-6.7%), from -€237,451 to -€253,432
- Gross operating margin +€63,041
up €63,041 (+90.8%), from -€69,428 to -€6,387
- Financial charges -€21,748
down €21,748 (-94.9%), from €22,928 to €1,179
of which Financial charges: -€16,238
- Financial income -€13,416
down €13,416 (-96.6%), from €13,884 to €467
- Other operating charges +€1,047
new in 2025: €1,047
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 | €424,191 | €458,745 | +€34,554 | +8.1% |
| Fixed assets | 21/28 | €285,365 | €277,530 | -€7,835 | -2.7% |
| Tangible fixed assets | 22/27 | €285,365 | €277,530 | -€7,835 | -2.7% |
| Land and buildings | 22 | €111,741 | €110,024 | -€1,717 | -1.5% |
| Assets under construction and advance payments | 27 | €173,624 | €167,506 | -€6,118 | -3.5% |
| Current assets | 29/58 | €138,826 | €181,215 | +€42,389 | +30.5% |
| Stocks and contracts in progress | 3 | €58,148 | €58,148 | = | 0.0% |
| Stocks | 30/36 | €58,148 | €58,148 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,678 | €108,907 | +€28,229 | +35.0% |
| Trade receivables | 40 | €5,425 | €36,624 | +€31,200 | +575% |
| Other amounts receivable | 41 | €75,254 | €72,283 | -€2,971 | -3.9% |
| Cash at bank and in hand | 54/58 | - | €14,160 | +€14,160 | |
| Total equity and liabilities | 10/49 | €424,191 | €458,745 | +€34,554 | +8.1% |
| Equity | 10/15 | €121,977 | €105,996 | -€15,981 | -13.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Revaluation surpluses | 12 | €133,052 | €133,052 | = | 0.0% |
| Reserves | 13 | €26,376 | €26,376 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €20,176 | €20,176 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€237,451 | -€253,432 | -€15,981 | -6.7% |
| Amounts payable | 17/49 | €302,214 | €352,749 | +€50,535 | +16.7% |
| Amounts payable after more than one year | 17 | €46,938 | €46,938 | = | 0.0% |
| Other amounts payable | 178/9 | €46,938 | €46,938 | = | 0.0% |
| Amounts payable within one year | 42/48 | €255,276 | €305,812 | +€50,535 | +19.8% |
| Financial debts | 43 | €1,750 | - | -€1,750 | |
| Credit institutions | 430/8 | €1,750 | - | -€1,750 | |
| Trade debts | 44 | €70,635 | €115 | -€70,520 | -99.8% |
| Suppliers | 440/4 | €70,635 | €115 | -€70,520 | -99.8% |
| Advances received on contracts in progress | 46 | - | €662 | +€662 | |
| Taxes, remuneration and social security | 45 | €2,581 | - | -€2,581 | |
| Taxes | 450/3 | €2,581 | - | -€2,581 | |
| Other amounts payable | 47/48 | €180,310 | €305,035 | +€124,724 | +69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,835 | €7,835 | = | 0.0% |
| Other operating charges | 640/8 | - | €1,047 | +€1,047 | |
| Gross operating margin | 9900 | -€69,428 | -€6,387 | +€63,041 | +90.8% |
| Operating profit (loss) | 9901 | -€77,263 | -€15,269 | +€61,994 | +80.2% |
| Financial income | 75/76B | €13,884 | €467 | -€13,416 | -96.6% |
| Recurring financial income | 75 | €13,884 | €467 | -€13,416 | -96.6% |
| Financial charges | 65/66B | €22,928 | €1,179 | -€21,748 | -94.9% |
| Recurring financial charges | 65 | €17,418 | €1,179 | -€16,238 | -93.2% |
| Non-recurring financial charges | 66B | €5,510 | - | -€5,510 | |
| Profit (loss) for the period before taxes | 9903 | -€86,307 | -€15,981 | +€70,325 | +81.5% |
| Profit (loss) for the period | 9904 | -€86,307 | -€15,981 | +€70,325 | +81.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,307 | -€15,981 | +€70,325 | +81.5% |
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 16 October 2026 via checked.be.