WUSHAN: 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.
WUSHAN
Largest movements
- Cash -€261,435
down €261,435 (-45.9%), from €569,223 to €307,787
mainly Contributions, distributions and other (-€563,182) and Tax, wage and social debts (-€65,335)
- Receivables within one year +€9,670
up €9,670 (+97.4%), from €9,926 to €19,596
of which Trade receivables: +€8,270
- Profit (loss) carried forward -€267,280
down €267,280 (-48.8%), from €548,072 to €280,792
- Other debts +€85,162
up €85,162 (+2680.5%), from €3,177 to €88,339
- Tax, wage and social debts -€65,335
down €65,335 (-57.0%), from €114,723 to €49,388
of which Taxes: -€71,883
- Trade debts +€16,754
up €16,754 (+190.5%), from €8,796 to €25,550
- Debts after one year -€14,161
down €14,161 (-13.8%), from €102,663 to €88,503
- Gross operating margin +€89,948
up €89,948 (+14.4%), from €625,825 to €715,773
- Staff costs +€86,874
up €86,874 (+45.9%), from €189,397 to €276,271
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 | €806,347 | €551,732 | -€254,615 | -31.6% |
| Fixed assets | 21/28 | €223,550 | €217,906 | -€5,644 | -2.5% |
| Tangible fixed assets | 22/27 | €218,855 | €213,211 | -€5,644 | -2.6% |
| Plant, machinery and equipment | 23 | €23,115 | €31,621 | +€8,506 | +36.8% |
| Furniture and vehicles | 24 | €51,141 | €46,890 | -€4,252 | -8.3% |
| Other tangible fixed assets | 26 | €144,598 | €134,700 | -€9,898 | -6.8% |
| Financial fixed assets | 28 | €4,695 | €4,695 | = | 0.0% |
| Current assets | 29/58 | €582,797 | €333,826 | -€248,972 | -42.7% |
| Amounts receivable within one year | 40/41 | €9,926 | €19,596 | +€9,670 | +97.4% |
| Trade receivables | 40 | €9,926 | €18,196 | +€8,270 | +83.3% |
| Other amounts receivable | 41 | - | €1,400 | +€1,400 | |
| Cash at bank and in hand | 54/58 | €569,223 | €307,787 | -€261,435 | -45.9% |
| Deferred charges and accrued income | 490/1 | €3,649 | €6,442 | +€2,793 | +76.6% |
| Total equity and liabilities | 10/49 | €806,347 | €551,732 | -€254,615 | -31.6% |
| Equity | 10/15 | €553,072 | €285,792 | -€267,280 | -48.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €548,072 | €280,792 | -€267,280 | -48.8% |
| Amounts payable | 17/49 | €253,275 | €265,940 | +€12,664 | +5.0% |
| Amounts payable after more than one year | 17 | €102,663 | €88,503 | -€14,161 | -13.8% |
| Financial debts | 170/4 | €102,663 | €88,503 | -€14,161 | -13.8% |
| Amounts payable within one year | 42/48 | €150,612 | €177,437 | +€26,825 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €23,916 | €14,161 | -€9,756 | -40.8% |
| Trade debts | 44 | €8,796 | €25,550 | +€16,754 | +190.5% |
| Suppliers | 440/4 | €8,796 | €25,550 | +€16,754 | +190.5% |
| Taxes, remuneration and social security | 45 | €114,723 | €49,388 | -€65,335 | -57.0% |
| Taxes | 450/3 | €97,783 | €25,900 | -€71,883 | -73.5% |
| Remuneration and social security | 454/9 | €16,940 | €23,488 | +€6,548 | +38.7% |
| Other amounts payable | 47/48 | €3,177 | €88,339 | +€85,162 | +2680.5% |
| Remuneration, social security and pensions | 62 | €189,397 | €276,271 | +€86,874 | +45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,370 | €31,794 | +€5,423 | +20.6% |
| Other operating charges | 640/8 | €4,949 | €4,874 | -€75 | -1.5% |
| Gross operating margin | 9900 | €625,825 | €715,773 | +€89,948 | +14.4% |
| Operating profit (loss) | 9901 | €405,109 | €402,834 | -€2,275 | -0.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €5,671 | €9,142 | +€3,471 | +61.2% |
| Recurring financial charges | 65 | €5,671 | €9,142 | +€3,471 | +61.2% |
| Profit (loss) for the period before taxes | 9903 | €399,439 | €393,692 | -€5,747 | -1.4% |
| Income taxes | 67/77 | €95,962 | €97,790 | +€1,827 | +1.9% |
| Profit (loss) for the period | 9904 | €303,477 | €295,903 | -€7,574 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €303,477 | €295,903 | -€7,574 | -2.5% |
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 7 October 2026 via checked.be.