WULFFAERT BOUW: 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.
WULFFAERT BOUW
Largest movements
- Stocks and contracts +€424,750
up €424,750 (+61.0%), from €696,212 to €1.1m
- Cash -€21,733
down €21,733 (-88.4%), from €24,574 to €2,841
mainly Stocks and contracts (-€424,750) and Net result for the year (-€78,339)
- Receivables within one year -€15,586
down €15,586 (-7.6%), from €205,177 to €189,591
- Short-term financial debts +€424,763
up €424,763 (+68.1%), from €623,895 to €1.0m
- Reserves -€76,479
down €76,479 (-55.7%), from €137,197 to €60,718
- Trade debts +€32,924
up €32,924 (+138%), from €23,845 to €56,770
- Financial charges +€18,902
up €18,902 (+108%), from €17,511 to €36,413
- Gross operating margin +€6,554
up €6,554 (+31.8%), from -€20,597 to -€14,043
- Financial income -€3,098
down €3,098 (-57.3%), from €5,405 to €2,306
- Depreciation +€2,865
up €2,865 (+23.8%), from €12,055 to €14,921
- Other operating charges -€2,686
down €2,686 (-63.1%), from €4,254 to €1,568
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.
Derived cash bridge
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 | €1,148,076 | €1,520,336 | +€372,260 | +32.4% |
| Fixed assets | 21/28 | €221,296 | €206,375 | -€14,921 | -6.7% |
| Tangible fixed assets | 22/27 | €221,296 | €206,375 | -€14,921 | -6.7% |
| Land and buildings | 22 | €207,115 | €197,710 | -€9,405 | -4.5% |
| Furniture and vehicles | 24 | €14,181 | €8,665 | -€5,516 | -38.9% |
| Current assets | 29/58 | €926,781 | €1,313,961 | +€387,180 | +41.8% |
| Stocks and contracts in progress | 3 | €696,212 | €1,120,963 | +€424,750 | +61.0% |
| Stocks | 30/36 | €696,212 | €1,120,963 | +€424,750 | +61.0% |
| Amounts receivable within one year | 40/41 | €205,177 | €189,591 | -€15,586 | -7.6% |
| Other amounts receivable | 41 | €205,177 | €189,591 | -€15,586 | -7.6% |
| Cash at bank and in hand | 54/58 | €24,574 | €2,841 | -€21,733 | -88.4% |
| Deferred charges and accrued income | 490/1 | €818 | €566 | -€251 | -30.7% |
| Total equity and liabilities | 10/49 | €1,148,076 | €1,520,336 | +€372,260 | +32.4% |
| Equity | 10/15 | €157,657 | €79,318 | -€78,339 | -49.7% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €137,197 | €60,718 | -€76,479 | -55.7% |
| Distributable reserves | 133 | €137,197 | €60,718 | -€76,479 | -55.7% |
| Amounts payable | 17/49 | €990,419 | €1,441,018 | +€450,599 | +45.5% |
| Amounts payable after more than one year | 17 | €113,009 | €102,894 | -€10,115 | -9.0% |
| Financial debts | 170/4 | €113,009 | €102,894 | -€10,115 | -9.0% |
| Amounts payable within one year | 42/48 | €876,069 | €1,337,920 | +€461,851 | +52.7% |
| Current portion of amounts payable after more than one year | 42 | €9,967 | €10,115 | +€148 | +1.5% |
| Financial debts | 43 | €623,895 | €1,048,658 | +€424,763 | +68.1% |
| Credit institutions | 430/8 | €623,895 | €1,048,658 | +€424,763 | +68.1% |
| Trade debts | 44 | €23,845 | €56,770 | +€32,924 | +138% |
| Suppliers | 440/4 | €23,845 | €56,770 | +€32,924 | +138% |
| Taxes, remuneration and social security | 45 | €2,780 | €2,796 | +€16 | +0.6% |
| Taxes | 450/3 | - | €253 | +€253 | |
| Remuneration and social security | 454/9 | €2,780 | €2,543 | -€237 | -8.5% |
| Other amounts payable | 47/48 | €215,582 | €219,582 | +€4,000 | +1.9% |
| Accrued charges and deferred income | 492/3 | €1,342 | €204 | -€1,137 | -84.8% |
| Remuneration, social security and pensions | 62 | €15,359 | €13,448 | -€1,911 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,055 | €14,921 | +€2,865 | +23.8% |
| Other operating charges | 640/8 | €4,254 | €1,568 | -€2,686 | -63.1% |
| Gross operating margin | 9900 | -€20,597 | -€14,043 | +€6,554 | +31.8% |
| Operating profit (loss) | 9901 | -€52,265 | -€43,980 | +€8,285 | +15.9% |
| Financial income | 75/76B | €5,405 | €2,306 | -€3,098 | -57.3% |
| Recurring financial income | 75 | €5,405 | €2,306 | -€3,098 | -57.3% |
| Financial charges | 65/66B | €17,511 | €36,413 | +€18,902 | +108% |
| Recurring financial charges | 65 | €17,511 | €36,413 | +€18,902 | +108% |
| Profit (loss) for the period before taxes | 9903 | -€64,371 | -€78,086 | -€13,715 | -21.3% |
| Income taxes | 67/77 | €240 | €253 | +€13 | +5.4% |
| Profit (loss) for the period | 9904 | -€64,611 | -€78,339 | -€13,728 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,611 | -€78,339 | -€13,728 | -21.2% |
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 25 October 2026 via checked.be.