WUCO: 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.
WUCO
Largest movements
- Stocks and contracts +€265,681
up €265,681 (+88.3%), from €300,966 to €566,647
of which Contracts in progress: +€238,432
- Cash -€252,920
down €252,920 (-42.7%), from €592,186 to €339,266
mainly Contributions, distributions and other (-€312,049) and Stocks and contracts (-€265,681)
- Tangible fixed assets -€198,726
down €198,726 (-31.1%), from €639,057 to €440,331
- Receivables within one year +€57,954
up €57,954 (+22.4%), from €258,563 to €316,518
of which Trade receivables: +€48,456
- Current investments +€36,194
up €36,194 (+137.6%), from €26,295 to €62,488
- Trade debts +€303,649
up €303,649 (+264.4%), from €114,856 to €418,505
- Reserves -€249,189
down €249,189 (-22.8%), from €1.1m to €845,959
- Other debts +€101,623
up €101,623 (+648.9%), from €15,661 to €117,284
- Advances received -€94,830
down €94,830 (-100.0%), from €94,830 to €0
- Current portion of long-term debt -€75,999
down €75,999 (-36.9%), from €205,897 to €129,899
- Gross operating margin -€301,977
down €301,977 (-21.4%), from €1.4m to €1.1m
- Taxes -€112,757
down €112,757 (-78.4%), from €143,771 to €31,014
- Staff costs +€58,759
up €58,759 (+9.1%), from €647,406 to €706,165
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 | €2,044,370 | €1,944,033 | -€100,337 | -4.9% |
| Fixed assets | 21/28 | €649,053 | €443,033 | -€206,020 | -31.7% |
| Intangible fixed assets | 21 | €8,611 | €2,067 | -€6,545 | -76.0% |
| Tangible fixed assets | 22/27 | €639,057 | €440,331 | -€198,726 | -31.1% |
| Land and buildings | 22 | €6,490 | €4,446 | -€2,044 | -31.5% |
| Plant, machinery and equipment | 23 | €315,686 | €220,095 | -€95,591 | -30.3% |
| Furniture and vehicles | 24 | €152,063 | €139,945 | -€12,118 | -8.0% |
| Leasing and similar rights | 25 | €142,434 | €51,988 | -€90,446 | -63.5% |
| Other tangible fixed assets | 26 | €22,384 | €23,858 | +€1,474 | +6.6% |
| Financial fixed assets | 28 | €1,385 | €635 | -€750 | -54.2% |
| Current assets | 29/58 | €1,395,316 | €1,501,000 | +€105,683 | +7.6% |
| Amounts receivable after more than one year | 29 | €168,611 | €197,644 | +€29,033 | +17.2% |
| Other amounts receivable | 291 | €168,611 | €197,644 | +€29,033 | +17.2% |
| Stocks and contracts in progress | 3 | €300,966 | €566,647 | +€265,681 | +88.3% |
| Stocks | 30/36 | €241,720 | €268,969 | +€27,249 | +11.3% |
| Contracts in progress | 37 | €59,246 | €297,678 | +€238,432 | +402.4% |
| Amounts receivable within one year | 40/41 | €258,563 | €316,518 | +€57,954 | +22.4% |
| Trade receivables | 40 | €242,750 | €291,206 | +€48,456 | +20.0% |
| Other amounts receivable | 41 | €15,813 | €25,311 | +€9,498 | +60.1% |
| Current investments | 50/53 | €26,295 | €62,488 | +€36,194 | +137.6% |
| Cash at bank and in hand | 54/58 | €592,186 | €339,266 | -€252,920 | -42.7% |
| Deferred charges and accrued income | 490/1 | €48,695 | €18,437 | -€30,259 | -62.1% |
| Total equity and liabilities | 10/49 | €2,044,370 | €1,944,033 | -€100,337 | -4.9% |
| Equity | 10/15 | €1,113,748 | €864,559 | -€249,189 | -22.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,095,148 | €845,959 | -€249,189 | -22.8% |
| Distributable reserves | 133 | €1,095,148 | €845,959 | -€249,189 | -22.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €930,621 | €1,079,473 | +€148,852 | +16.0% |
| Amounts payable after more than one year | 17 | €290,313 | €220,766 | -€69,547 | -24.0% |
| Financial debts | 170/4 | €290,313 | €220,766 | -€69,547 | -24.0% |
| Amounts payable within one year | 42/48 | €574,308 | €792,708 | +€218,399 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €205,897 | €129,899 | -€75,999 | -36.9% |
| Financial debts | 43 | €43,063 | €66,414 | +€23,351 | +54.2% |
| Credit institutions | 430/8 | €43,063 | €66,414 | +€23,351 | +54.2% |
| Trade debts | 44 | €114,856 | €418,505 | +€303,649 | +264.4% |
| Suppliers | 440/4 | €114,856 | €418,505 | +€303,649 | +264.4% |
| Advances received on contracts in progress | 46 | €94,830 | €0 | -€94,830 | -100.0% |
| Taxes, remuneration and social security | 45 | €100,000 | €60,605 | -€39,395 | -39.4% |
| Taxes | 450/3 | €45,620 | €7,806 | -€37,815 | -82.9% |
| Remuneration and social security | 454/9 | €54,380 | €52,799 | -€1,580 | -2.9% |
| Other amounts payable | 47/48 | €15,661 | €117,284 | +€101,623 | +648.9% |
| Accrued charges and deferred income | 492/3 | €66,000 | €66,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €647,406 | €706,165 | +€58,759 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,025 | €268,500 | +€475 | +0.2% |
| Other operating charges | 640/8 | €7,988 | €7,048 | -€940 | -11.8% |
| Non-recurring operating charges | 66A | €0 | €8,322 | +€8,322 | |
| Gross operating margin | 9900 | €1,409,773 | €1,107,797 | -€301,977 | -21.4% |
| Operating profit (loss) | 9901 | €486,354 | €117,761 | -€368,592 | -75.8% |
| Financial income | 75/76B | €16,590 | €18,903 | +€2,313 | +13.9% |
| Recurring financial income | 75 | €16,590 | €18,903 | +€2,313 | +13.9% |
| Financial charges | 65/66B | €49,819 | €42,791 | -€7,028 | -14.1% |
| Recurring financial charges | 65 | €49,819 | €42,791 | -€7,028 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €453,125 | €93,874 | -€359,251 | -79.3% |
| Income taxes | 67/77 | €143,771 | €31,014 | -€112,757 | -78.4% |
| Profit (loss) for the period | 9904 | €309,353 | €62,860 | -€246,494 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €309,353 | €62,860 | -€246,494 | -79.7% |
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.