WV-LOGIC: 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.
WV-LOGIC
Largest movements
- Cash +€69,529
up €69,529 (+415.5%), from €16,735 to €86,264
mainly Current investments (+€53,631) and Net result for the year (+€18,066)
- Current investments -€53,631
down €53,631 (-42.8%), from €125,299 to €71,668
- Tangible fixed assets -€17,301
down €17,301 (-26.1%), from €66,281 to €48,980
of which Furniture and vehicles: -€15,289
- Receivables within one year -€2,948
down €2,948 (-20.8%), from €14,152 to €11,204
of which Other amounts receivable: -€4,976
- Debts after one year -€11,197
down €11,197 (-40.4%), from €27,691 to €16,494
- Tax, wage and social debts +€5,815
up €5,815 (+187.6%), from €3,100 to €8,915
of which Taxes: +€5,793
- Financial income +€32,770
up €32,770 (+4513.0%), from €726 to €33,496
- Gross operating margin -€8,839
down €8,839 (-42.3%), from €20,904 to €12,065
- Taxes +€6,544
up €6,544 (+523.7%), from €1,250 to €7,794
- Financial charges +€1,297
up €1,297 (+267.6%), from €485 to €1,782
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 | €222,772 | €219,108 | -€3,664 | -1.6% |
| Fixed assets | 21/28 | €66,281 | €48,980 | -€17,301 | -26.1% |
| Tangible fixed assets | 22/27 | €66,281 | €48,980 | -€17,301 | -26.1% |
| Furniture and vehicles | 24 | €54,370 | €39,082 | -€15,289 | -28.1% |
| Other tangible fixed assets | 26 | €11,911 | €9,898 | -€2,013 | -16.9% |
| Current assets | 29/58 | €156,491 | €170,128 | +€13,637 | +8.7% |
| Amounts receivable within one year | 40/41 | €14,152 | €11,204 | -€2,948 | -20.8% |
| Trade receivables | 40 | €9,176 | €11,204 | +€2,029 | +22.1% |
| Other amounts receivable | 41 | €4,976 | €0 | -€4,976 | -100.0% |
| Current investments | 50/53 | €125,299 | €71,668 | -€53,631 | -42.8% |
| Cash at bank and in hand | 54/58 | €16,735 | €86,264 | +€69,529 | +415.5% |
| Deferred charges and accrued income | 490/1 | €304 | €991 | +€687 | +225.9% |
| Total equity and liabilities | 10/49 | €222,772 | €219,108 | -€3,664 | -1.6% |
| Equity | 10/15 | €175,902 | €175,436 | -€466 | -0.3% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €169,302 | €168,836 | -€466 | -0.3% |
| Tax-exempt reserves | 132 | €744 | €744 | = | 0.0% |
| Distributable reserves | 133 | €168,559 | €168,093 | -€466 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,869 | €43,671 | -€3,198 | -6.8% |
| Amounts payable after more than one year | 17 | €27,691 | €16,494 | -€11,197 | -40.4% |
| Financial debts | 170/4 | €27,691 | €16,494 | -€11,197 | -40.4% |
| Amounts payable within one year | 42/48 | €18,252 | €27,165 | +€8,913 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | €10,842 | €11,197 | +€355 | +3.3% |
| Trade debts | 44 | €2,146 | €2,684 | +€538 | +25.1% |
| Suppliers | 440/4 | €2,146 | €2,684 | +€538 | +25.1% |
| Taxes, remuneration and social security | 45 | €3,100 | €8,915 | +€5,815 | +187.6% |
| Taxes | 450/3 | €801 | €6,594 | +€5,793 | +722.9% |
| Remuneration and social security | 454/9 | €2,299 | €2,321 | +€22 | +1.0% |
| Other amounts payable | 47/48 | €2,165 | €4,369 | +€2,204 | +101.8% |
| Accrued charges and deferred income | 492/3 | €926 | €12 | -€913 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,283 | €17,301 | +€18 | +0.1% |
| Other operating charges | 640/8 | €637 | €618 | -€19 | -3.1% |
| Gross operating margin | 9900 | €20,904 | €12,065 | -€8,839 | -42.3% |
| Operating profit (loss) | 9901 | €2,984 | -€5,854 | -€8,838 | |
| Financial income | 75/76B | €726 | €33,496 | +€32,770 | +4513.0% |
| Recurring financial income | 75 | €726 | €33,496 | +€32,770 | +4513.0% |
| Financial charges | 65/66B | €485 | €1,782 | +€1,297 | +267.6% |
| Recurring financial charges | 65 | €485 | €1,782 | +€1,297 | +267.6% |
| Profit (loss) for the period before taxes | 9903 | €3,225 | €25,860 | +€22,634 | +701.7% |
| Income taxes | 67/77 | €1,250 | €7,794 | +€6,544 | +523.7% |
| Profit (loss) for the period | 9904 | €1,976 | €18,066 | +€16,090 | +814.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,976 | €18,066 | +€16,090 | +814.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.