WSM Concept: 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.
WSM Concept
Largest movements
- Deferred charges and accrued income +€13,500
new in 2025: €13,500
- Cash +€7,370
up €7,370 (+144.2%), from €5,111 to €12,481
mainly Trade debts (+€11,292) and Other debts (+€8,539)
- Tangible fixed assets -€5,317
down €5,317 (-46.8%), from €11,373 to €6,056
of which Plant, machinery and equipment: -€3,122
- Receivables within one year -€2,530
down €2,530 (-3.9%), from €64,941 to €62,411
of which Trade receivables: -€3,367
- Intangible fixed assets +€2,041
new in 2025: €2,041
- Trade debts +€11,292
up €11,292 (+45.3%), from €24,937 to €36,229
- Other debts +€8,539
up €8,539 (+27.0%), from €31,680 to €40,219
- Reserves -€5,087
down €5,087 (-21.8%), from €23,291 to €18,204
- Gross operating margin -€4,520
down €4,520 (-61.3%), from €7,375 to €2,855
- Depreciation +€877
up €877 (+17.9%), from €4,899 to €5,776
- Taxes -€645
down €645 (-84.1%), from €767 to €122
- Financial income -€552
down €552 (-85.0%), from €650 to €98
- Other operating charges +€471
up €471 (+59.5%), from €792 to €1,263
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 | €81,425 | €96,489 | +€15,064 | +18.5% |
| Fixed assets | 21/28 | €11,373 | €8,097 | -€3,276 | -28.8% |
| Intangible fixed assets | 21 | - | €2,041 | +€2,041 | |
| Tangible fixed assets | 22/27 | €11,373 | €6,056 | -€5,317 | -46.8% |
| Plant, machinery and equipment | 23 | €6,858 | €3,735 | -€3,122 | -45.5% |
| Furniture and vehicles | 24 | €4,515 | €2,320 | -€2,195 | -48.6% |
| Current assets | 29/58 | €70,052 | €88,392 | +€18,339 | +26.2% |
| Amounts receivable within one year | 40/41 | €64,941 | €62,411 | -€2,530 | -3.9% |
| Trade receivables | 40 | €42,822 | €39,455 | -€3,367 | -7.9% |
| Other amounts receivable | 41 | €22,119 | €22,956 | +€837 | +3.8% |
| Cash at bank and in hand | 54/58 | €5,111 | €12,481 | +€7,370 | +144.2% |
| Deferred charges and accrued income | 490/1 | - | €13,500 | +€13,500 | |
| Total equity and liabilities | 10/49 | €81,425 | €96,489 | +€15,064 | +18.5% |
| Equity | 10/15 | €23,791 | €18,704 | -€5,087 | -21.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €23,291 | €18,204 | -€5,087 | -21.8% |
| Distributable reserves | 133 | €23,291 | €18,204 | -€5,087 | -21.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,634 | €77,785 | +€20,151 | +35.0% |
| Amounts payable within one year | 42/48 | €57,634 | €77,785 | +€20,151 | +35.0% |
| Trade debts | 44 | €24,937 | €36,229 | +€11,292 | +45.3% |
| Suppliers | 440/4 | €24,937 | €36,229 | +€11,292 | +45.3% |
| Taxes, remuneration and social security | 45 | €1,016 | €1,336 | +€320 | +31.5% |
| Taxes | 450/3 | €1,016 | €1,336 | +€320 | +31.5% |
| Other amounts payable | 47/48 | €31,680 | €40,219 | +€8,539 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,899 | €5,776 | +€877 | +17.9% |
| Other operating charges | 640/8 | €792 | €1,263 | +€471 | +59.5% |
| Gross operating margin | 9900 | €7,375 | €2,855 | -€4,520 | -61.3% |
| Operating profit (loss) | 9901 | €1,684 | -€4,183 | -€5,868 | |
| Financial income | 75/76B | €650 | €98 | -€552 | -85.0% |
| Recurring financial income | 75 | €650 | €98 | -€552 | -85.0% |
| Financial charges | 65/66B | €100 | €47 | -€54 | -53.6% |
| Recurring financial charges | 65 | €100 | €47 | -€54 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | €2,234 | -€4,132 | -€6,366 | |
| Income taxes | 67/77 | €767 | €122 | -€645 | -84.1% |
| Profit (loss) for the period | 9904 | €1,467 | -€4,254 | -€5,721 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,467 | -€4,254 | -€5,721 |
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.