WTM: 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.
WTM
Largest movements
- Cash +€67,383
up €67,383 (+152.3%), from €44,250 to €111,633
mainly Net result for the year (+€39,673) and Receivables within one year (+€37,855)
- Receivables within one year -€37,855
down €37,855 (-53.9%), from €70,279 to €32,424
of which Trade receivables: -€37,785
- Tangible fixed assets -€4,206
down €4,206 (-47.1%), from €8,926 to €4,720
of which Leasing and similar rights: -€3,412
- Reserves +€39,673
up €39,673 (+84.6%), from €46,917 to €86,590
- Trade debts -€16,527
down €16,527 (-70.9%), from €23,319 to €6,791
- Tax, wage and social debts +€5,642
up €5,642 (+22.9%), from €24,637 to €30,279
of which Taxes: +€4,661
- Debts after one year -€3,587
down €3,587 (-74.4%), from €4,818 to €1,231
- Depreciation -€9,205
down €9,205 (-68.6%), from €13,412 to €4,206
- Gross operating margin +€8,489
up €8,489 (+5.8%), from €145,489 to €153,978
- Staff costs +€6,327
up €6,327 (+7.2%), from €88,199 to €94,526
- Taxes +€4,202
up €4,202 (+45.2%), from €9,295 to €13,497
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 | €123,523 | €148,878 | +€25,355 | +20.5% |
| Fixed assets | 21/28 | €8,926 | €4,720 | -€4,206 | -47.1% |
| Tangible fixed assets | 22/27 | €8,926 | €4,720 | -€4,206 | -47.1% |
| Furniture and vehicles | 24 | €795 | €0 | -€795 | -100.0% |
| Leasing and similar rights | 25 | €8,132 | €4,720 | -€3,412 | -42.0% |
| Current assets | 29/58 | €114,597 | €144,158 | +€29,561 | +25.8% |
| Amounts receivable within one year | 40/41 | €70,279 | €32,424 | -€37,855 | -53.9% |
| Trade receivables | 40 | €70,109 | €32,324 | -€37,785 | -53.9% |
| Other amounts receivable | 41 | €170 | €100 | -€70 | -41.2% |
| Cash at bank and in hand | 54/58 | €44,250 | €111,633 | +€67,383 | +152.3% |
| Deferred charges and accrued income | 490/1 | €68 | €101 | +€33 | +49.4% |
| Total equity and liabilities | 10/49 | €123,523 | €148,878 | +€25,355 | +20.5% |
| Equity | 10/15 | €66,917 | €106,590 | +€39,673 | +59.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €46,917 | €86,590 | +€39,673 | +84.6% |
| Distributable reserves | 133 | €46,917 | €86,590 | +€39,673 | +84.6% |
| Amounts payable | 17/49 | €56,606 | €42,288 | -€14,318 | -25.3% |
| Amounts payable after more than one year | 17 | €4,818 | €1,231 | -€3,587 | -74.4% |
| Financial debts | 170/4 | €4,818 | €1,231 | -€3,587 | -74.4% |
| Amounts payable within one year | 42/48 | €51,788 | €41,057 | -€10,732 | -20.7% |
| Current portion of amounts payable after more than one year | 42 | €3,433 | €3,587 | +€154 | +4.5% |
| Trade debts | 44 | €23,319 | €6,791 | -€16,527 | -70.9% |
| Suppliers | 440/4 | €23,319 | €6,791 | -€16,527 | -70.9% |
| Taxes, remuneration and social security | 45 | €24,637 | €30,279 | +€5,642 | +22.9% |
| Taxes | 450/3 | €15,472 | €20,133 | +€4,661 | +30.1% |
| Remuneration and social security | 454/9 | €9,166 | €10,146 | +€980 | +10.7% |
| Other amounts payable | 47/48 | €400 | €400 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €88,199 | €94,526 | +€6,327 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,412 | €4,206 | -€9,205 | -68.6% |
| Other operating charges | 640/8 | €1,067 | €1,046 | -€21 | -1.9% |
| Gross operating margin | 9900 | €145,489 | €153,978 | +€8,489 | +5.8% |
| Operating profit (loss) | 9901 | €42,811 | €54,199 | +€11,388 | +26.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +170.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +170.0% |
| Financial charges | 65/66B | €1,191 | €1,029 | -€162 | -13.6% |
| Recurring financial charges | 65 | €1,191 | €1,029 | -€162 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €41,620 | €53,170 | +€11,550 | +27.8% |
| Income taxes | 67/77 | €9,295 | €13,497 | +€4,202 | +45.2% |
| Profit (loss) for the period | 9904 | €32,325 | €39,673 | +€7,348 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,325 | €39,673 | +€7,348 | +22.7% |
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 28 September 2026 via checked.be.