WVAM: 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.
WVAM
Largest movements
- Cash +€364,804
up €364,804 (+3,004%), from €12,143 to €376,947
mainly Net result for the year (+€397,397) and Tax, wage and social debts (+€70,158)
- Receivables within one year +€157,640
up €157,640 (+52.4%), from €300,988 to €458,628
of which Trade receivables: +€157,170
- Profit (loss) carried forward +€397,397
up €397,397 (+209%), from €190,589 to €587,986
- Tax, wage and social debts +€70,158
up €70,158 (+63.7%), from €110,140 to €180,298
- Trade debts +€49,652
up €49,652 (+2,465%), from €2,015 to €51,666
- Gross operating margin +€277,611
up €277,611 (+112%), from €247,613 to €525,224
- Taxes +€70,387
up €70,387 (+124%), from €56,863 to €127,250
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 | €313,131 | €837,574 | +€524,444 | +167% |
| Fixed assets | 21/28 | - | €1,999 | +€1,999 | |
| Tangible fixed assets | 22/27 | - | €1,999 | +€1,999 | |
| Plant, machinery and equipment | 23 | - | €1,999 | +€1,999 | |
| Current assets | 29/58 | €313,131 | €835,575 | +€522,444 | +167% |
| Amounts receivable within one year | 40/41 | €300,988 | €458,628 | +€157,640 | +52.4% |
| Trade receivables | 40 | €300,988 | €458,157 | +€157,170 | +52.2% |
| Other amounts receivable | 41 | - | €471 | +€471 | |
| Cash at bank and in hand | 54/58 | €12,143 | €376,947 | +€364,804 | +3,004% |
| Total equity and liabilities | 10/49 | €313,131 | €837,574 | +€524,444 | +167% |
| Equity | 10/15 | €193,589 | €590,986 | +€397,397 | +205% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,589 | €587,986 | +€397,397 | +209% |
| Amounts payable | 17/49 | €119,542 | €246,588 | +€127,046 | +106% |
| Amounts payable within one year | 42/48 | €119,542 | €246,588 | +€127,046 | +106% |
| Trade debts | 44 | €2,015 | €51,666 | +€49,652 | +2,465% |
| Suppliers | 440/4 | €2,015 | €51,666 | +€49,652 | +2,465% |
| Taxes, remuneration and social security | 45 | €110,140 | €180,298 | +€70,158 | +63.7% |
| Taxes | 450/3 | €110,140 | €180,298 | +€70,158 | +63.7% |
| Other amounts payable | 47/48 | €7,387 | €14,623 | +€7,237 | +98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €427 | +€427 | |
| Other operating charges | 640/8 | €150 | €110 | -€40 | -26.7% |
| Gross operating margin | 9900 | €247,613 | €525,224 | +€277,611 | +112% |
| Operating profit (loss) | 9901 | €247,463 | €524,687 | +€277,224 | +112% |
| Financial income | 75/76B | - | €30 | +€30 | |
| Recurring financial income | 75 | - | €30 | +€30 | |
| Financial charges | 65/66B | €11 | €70 | +€59 | +544% |
| Recurring financial charges | 65 | €11 | €70 | +€59 | +544% |
| Profit (loss) for the period before taxes | 9903 | €247,452 | €524,647 | +€277,195 | +112% |
| Income taxes | 67/77 | €56,863 | €127,250 | +€70,387 | +124% |
| Profit (loss) for the period | 9904 | €190,589 | €397,397 | +€206,808 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €190,589 | €397,397 | +€206,808 | +109% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.