WSC: what changed
Two fiscal 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.
WSC
Largest movements
- Cash -€278,448
down €278,448 (-81.4%), from €342,116 to €63,668
mainly Net result for the year (-€185,584) and Trade debts (-€63,015)
- Receivables within one year +€8,492
new in 2025: €8,492
- Tangible fixed assets +€7,598
up €7,598 (+7.4%), from €102,268 to €109,866
- Deferred charges and accrued income +€6,206
up €6,206 (+64.6%), from €9,602 to €15,808
- Profit (loss) carried forward -€185,584
down €185,584, from €175,905 to -€9,679
- Trade debts -€63,015
down €63,015 (-61.0%), from €103,378 to €40,363
- Tax, wage and social debts -€5,014
down €5,014 (-9.6%), from €52,067 to €47,053
of which Taxes: -€7,054
- Gross operating margin -€307,807
down €307,807 (-51.7%), from €595,193 to €287,386
- Taxes -€37,089
down €37,089 (-95.2%), from €38,978 to €1,889
- Staff costs -€15,719
down €15,719 (-3.6%), from €440,794 to €425,075
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 | €455,254 | €199,102 | -€256,152 | -56.3% |
| Fixed assets | 21/28 | €103,536 | €111,134 | +€7,598 | +7.3% |
| Tangible fixed assets | 22/27 | €102,268 | €109,866 | +€7,598 | +7.4% |
| Furniture and vehicles | 24 | €102,268 | €109,866 | +€7,598 | +7.4% |
| Financial fixed assets | 28 | €1,268 | €1,268 | = | 0.0% |
| Current assets | 29/58 | €351,718 | €87,968 | -€263,750 | -75.0% |
| Amounts receivable within one year | 40/41 | - | €8,492 | +€8,492 | |
| Other amounts receivable | 41 | - | €8,492 | +€8,492 | |
| Cash at bank and in hand | 54/58 | €342,116 | €63,668 | -€278,448 | -81.4% |
| Deferred charges and accrued income | 490/1 | €9,602 | €15,808 | +€6,206 | +64.6% |
| Total equity and liabilities | 10/49 | €455,254 | €199,102 | -€256,152 | -56.3% |
| Equity | 10/15 | €194,505 | €8,921 | -€185,584 | -95.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,905 | -€9,679 | -€185,584 | |
| Amounts payable | 17/49 | €260,749 | €190,181 | -€70,568 | -27.1% |
| Amounts payable after more than one year | 17 | €60,623 | €59,925 | -€698 | -1.2% |
| Financial debts | 170/4 | €60,623 | €59,925 | -€698 | -1.2% |
| Amounts payable within one year | 42/48 | €200,126 | €130,192 | -€69,934 | -34.9% |
| Current portion of amounts payable after more than one year | 42 | €44,681 | €42,776 | -€1,905 | -4.3% |
| Trade debts | 44 | €103,378 | €40,363 | -€63,015 | -61.0% |
| Suppliers | 440/4 | €103,378 | €40,363 | -€63,015 | -61.0% |
| Taxes, remuneration and social security | 45 | €52,067 | €47,053 | -€5,014 | -9.6% |
| Taxes | 450/3 | €7,054 | - | -€7,054 | |
| Remuneration and social security | 454/9 | €45,013 | €47,053 | +€2,040 | +4.5% |
| Accrued charges and deferred income | 492/3 | - | €64 | +€64 | |
| Remuneration, social security and pensions | 62 | €440,794 | €425,075 | -€15,719 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,816 | €39,396 | -€1,420 | -3.5% |
| Other operating charges | 640/8 | €2,260 | €1,807 | -€453 | -20.0% |
| Gross operating margin | 9900 | €595,193 | €287,386 | -€307,807 | -51.7% |
| Operating profit (loss) | 9901 | €111,323 | -€178,892 | -€290,215 | |
| Financial income | 75/76B | €600 | €1,270 | +€670 | +111.7% |
| Recurring financial income | 75 | €600 | €1,270 | +€670 | +111.7% |
| Financial charges | 65/66B | €7,339 | €6,073 | -€1,266 | -17.3% |
| Recurring financial charges | 65 | €7,339 | €6,073 | -€1,266 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €104,584 | -€183,695 | -€288,279 | |
| Income taxes | 67/77 | €38,978 | €1,889 | -€37,089 | -95.2% |
| Profit (loss) for the period | 9904 | €65,606 | -€185,584 | -€251,190 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,606 | -€185,584 | -€251,190 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.