WSTEC: 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.
WSTEC
Largest movements
- Cash +€56,737
up €56,737 (+241.2%), from €23,523 to €80,259
mainly Net result for the year (+€18,701) and Receivables within one year (+€17,485)
- Receivables within one year -€17,485
down €17,485 (-77.0%), from €22,699 to €5,214
of which Trade receivables: -€17,081
- Tangible fixed assets -€7,947
down €7,947 (-31.0%), from €25,606 to €17,660
of which Furniture and vehicles: -€7,645
- Reserves +€13,701
up €13,701 (+83.6%), from €16,386 to €30,087
- Trade debts +€8,129
up €8,129 (+538.4%), from €1,510 to €9,639
- Other debts +€6,340
up €6,340 (+22.3%), from €28,384 to €34,724
- Tax, wage and social debts +€3,581
up €3,581 (+87.1%), from €4,113 to €7,694
- Gross operating margin -€1,667
down €1,667 (-5.1%), from €32,614 to €30,948
- Depreciation +€1,465
up €1,465 (+22.6%), from €6,482 to €7,947
- Taxes -€532
down €532 (-12.9%), from €4,113 to €3,581
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 | €71,893 | €103,644 | +€31,751 | +44.2% |
| Fixed assets | 21/28 | €25,606 | €17,660 | -€7,947 | -31.0% |
| Tangible fixed assets | 22/27 | €25,606 | €17,660 | -€7,947 | -31.0% |
| Plant, machinery and equipment | 23 | €1,311 | €1,009 | -€302 | -23.0% |
| Furniture and vehicles | 24 | €24,295 | €16,651 | -€7,645 | -31.5% |
| Current assets | 29/58 | €46,286 | €85,984 | +€39,697 | +85.8% |
| Amounts receivable within one year | 40/41 | €22,699 | €5,214 | -€17,485 | -77.0% |
| Trade receivables | 40 | €21,311 | €4,230 | -€17,081 | -80.2% |
| Other amounts receivable | 41 | €1,388 | €984 | -€404 | -29.1% |
| Cash at bank and in hand | 54/58 | €23,523 | €80,259 | +€56,737 | +241.2% |
| Deferred charges and accrued income | 490/1 | €65 | €510 | +€445 | +684.6% |
| Total equity and liabilities | 10/49 | €71,893 | €103,644 | +€31,751 | +44.2% |
| Equity | 10/15 | €36,386 | €50,087 | +€13,701 | +37.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €16,386 | €30,087 | +€13,701 | +83.6% |
| Distributable reserves | 133 | €16,386 | €30,087 | +€13,701 | +83.6% |
| Amounts payable | 17/49 | €35,507 | €53,557 | +€18,050 | +50.8% |
| Amounts payable within one year | 42/48 | €34,007 | €52,057 | +€18,050 | +53.1% |
| Trade debts | 44 | €1,510 | €9,639 | +€8,129 | +538.4% |
| Suppliers | 440/4 | €1,510 | €9,639 | +€8,129 | +538.4% |
| Taxes, remuneration and social security | 45 | €4,113 | €7,694 | +€3,581 | +87.1% |
| Taxes | 450/3 | €4,113 | €7,694 | +€3,581 | +87.1% |
| Other amounts payable | 47/48 | €28,384 | €34,724 | +€6,340 | +22.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,482 | €7,947 | +€1,465 | +22.6% |
| Other operating charges | 640/8 | €653 | €777 | +€125 | +19.1% |
| Gross operating margin | 9900 | €32,614 | €30,948 | -€1,667 | -5.1% |
| Operating profit (loss) | 9901 | €25,480 | €22,224 | -€3,256 | -12.8% |
| Financial income | 75/76B | €53 | €112 | +€59 | +110.6% |
| Recurring financial income | 75 | €53 | €112 | +€59 | +110.6% |
| Financial charges | 65/66B | €34 | €55 | +€21 | +60.9% |
| Recurring financial charges | 65 | €34 | €55 | +€21 | +60.9% |
| Profit (loss) for the period before taxes | 9903 | €25,499 | €22,282 | -€3,217 | -12.6% |
| Income taxes | 67/77 | €4,113 | €3,581 | -€532 | -12.9% |
| Profit (loss) for the period | 9904 | €21,386 | €18,701 | -€2,685 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,386 | €18,701 | -€2,685 | -12.6% |
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.