WV3: 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.
What changed
WV3
NACE 47.632, Retail sale of bicycles
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€109,309
2025 · €110,777-€1,468
Equity
€360,039
2025 · €532,730-€172,691
Cash
€379,890
2025 · €193,228+€186,662
Balance sheet total
€887,050
2025 · €1.0m-€113,694
Largest movements
Assets
- Receivables within one year -€217,033
down €217,033 (-44.7%), from €485,021 to €267,988
of which Trade receivables: -€206,652
- Cash +€186,662
up €186,662 (+96.6%), from €193,228 to €379,890
mainly Receivables within one year (+€217,033) and Net result for the year (+€109,309)
- Tangible fixed assets -€83,376
down €83,376 (-25.9%), from €322,059 to €238,682
Equity and liabilities
- Profit (loss) carried forward -€178,157
down €178,157 (-64.8%), from €274,959 to €96,803
- Tax, wage and social debts +€81,301
up €81,301 (+36.2%), from €224,564 to €305,865
of which Remuneration and social security: +€79,142
- Trade debts -€13,138
down €13,138 (-5.6%), from €234,177 to €221,038
Income statement
- Staff costs +€224,397
up €224,397 (+13.6%), from €1.6m to €1.9m
- Turnover +€220,180
up €220,180 (+8.0%), from €2.8m to €3.0m
From the 2025 result to the 2026 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.
Result 2025
€110,777
Turnover
+€220,180
Other operating income
+€757
Services and other goods
+€3,346
Staff costs
-€224,397
Depreciation
+€5,435
Other operating charges
-€8,104
Financial income
+€1,348
Financial charges
+€24
Taxes
-€58
Result 2026
€109,309
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€482,510
Investment
-€13,848
Financing
-€282,000
Cash 2025
€193,228
From operations (derived)
+€482,510
Net result for the year
+€109,309
Depreciation
+€97,225
Receivables within one year
+€217,033
Smaller working-capital items
-€582
Trade debts
-€13,138
Tax, wage and social debts
+€81,301
Advances received
-€8,638
Investment (derived)
-€13,848
Investment in fixed assets (net)
-€13,848
Financing
-€282,000
Contributions, distributions and other
-€282,000
Cash 2026
€379,890
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,000,744 | €887,050 | -€113,694 | -11.4% |
| Fixed assets | 21/28 | €322,059 | €238,682 | -€83,376 | -25.9% |
| Tangible fixed assets | 22/27 | €322,059 | €238,682 | -€83,376 | -25.9% |
| Land and buildings | 22 | €116,692 | €75,279 | -€41,413 | -35.5% |
| Plant, machinery and equipment | 23 | €31,143 | €22,328 | -€8,815 | -28.3% |
| Furniture and vehicles | 24 | €24,933 | €17,233 | -€7,700 | -30.9% |
| Other tangible fixed assets | 26 | €149,291 | €123,843 | -€25,448 | -17.0% |
| Current assets | 29/58 | €678,686 | €648,368 | -€30,318 | -4.5% |
| Amounts receivable within one year | 40/41 | €485,021 | €267,988 | -€217,033 | -44.7% |
| Trade receivables | 40 | €474,639 | €267,988 | -€206,652 | -43.5% |
| Other amounts receivable | 41 | €10,382 | - | -€10,382 | |
| Cash at bank and in hand | 54/58 | €193,228 | €379,890 | +€186,662 | +96.6% |
| Deferred charges and accrued income | 490/1 | €437 | €491 | +€54 | +12.3% |
| Total equity and liabilities | 10/49 | €1,000,744 | €887,050 | -€113,694 | -11.4% |
| Equity | 10/15 | €532,730 | €360,039 | -€172,691 | -32.4% |
| Contributions | 10/11 | €80,800 | €80,800 | = | 0.0% |
| Capital | 10 | - | €80,800 | +€80,800 | |
| Issued capital | 100 | - | €80,800 | +€80,800 | |
| Reserves | 13 | €176,971 | €182,436 | +€5,465 | +3.1% |
| Non-distributable reserves | 130/1 | €3,719 | €5,465 | +€1,746 | +47.0% |
| Legal reserve | 130 | - | €5,465 | +€5,465 | |
| Reserves not available under the articles | 1311 | €3,719 | - | -€3,719 | |
| Tax-exempt reserves | 132 | €165,973 | €165,973 | = | 0.0% |
| Distributable reserves | 133 | €7,279 | €10,998 | +€3,719 | +51.1% |
| Profit (loss) carried forward | 14 | €274,959 | €96,803 | -€178,157 | -64.8% |
| Amounts payable | 17/49 | €468,014 | €527,011 | +€58,997 | +12.6% |
| Amounts payable within one year | 42/48 | €468,014 | €527,011 | +€58,997 | +12.6% |
| Trade debts | 44 | €234,177 | €221,038 | -€13,138 | -5.6% |
| Suppliers | 440/4 | €234,177 | €221,038 | -€13,138 | -5.6% |
| Advances received on contracts in progress | 46 | €8,638 | - | -€8,638 | |
| Taxes, remuneration and social security | 45 | €224,564 | €305,865 | +€81,301 | +36.2% |
| Taxes | 450/3 | €1,023 | €3,182 | +€2,159 | +211.1% |
| Remuneration and social security | 454/9 | €223,542 | €302,683 | +€79,142 | +35.4% |
| Other amounts payable | 47/48 | €635 | €107 | -€528 | -83.1% |
| Operating income | 70/76A | €2,770,592 | €2,991,529 | +€220,937 | +8.0% |
| Turnover | 70 | €2,756,343 | €2,976,523 | +€220,180 | +8.0% |
| Other operating income | 74 | €14,249 | €15,006 | +€757 | +5.3% |
| Operating charges | 60/66A | €2,614,572 | €2,838,291 | +€223,719 | +8.6% |
| Services and other goods | 61 | €862,348 | €859,001 | -€3,346 | -0.4% |
| Remuneration, social security and pensions | 62 | €1,646,732 | €1,871,128 | +€224,397 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,660 | €97,225 | -€5,435 | -5.3% |
| Other operating charges | 640/8 | €2,833 | €10,937 | +€8,104 | +286.1% |
| Operating profit (loss) | 9901 | €156,019 | €153,238 | -€2,782 | -1.8% |
| Financial income | 75/76B | €3,420 | €4,768 | +€1,348 | +39.4% |
| Recurring financial income | 75 | €3,420 | €4,768 | +€1,348 | +39.4% |
| Income from current assets | 751 | €3,420 | €4,768 | +€1,348 | +39.4% |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Financial charges | 65/66B | €538 | €514 | -€24 | -4.4% |
| Recurring financial charges | 65 | €538 | €514 | -€24 | -4.4% |
| Debt charges | 650 | €143 | €110 | -€33 | -23.1% |
| Other financial charges | 652/9 | €396 | €405 | +€9 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €158,901 | €157,491 | -€1,410 | -0.9% |
| Income taxes | 67/77 | €48,124 | €48,182 | +€58 | +0.1% |
| Taxes | 670/3 | €48,136 | €48,182 | +€46 | +0.1% |
| Tax adjustments and reversals of tax provisions | 77 | €13 | - | -€13 | |
| Profit (loss) for the period | 9904 | €110,777 | €109,309 | -€1,468 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €110,777 | €109,309 | -€1,468 | -1.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.