WVC: 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.
WVC
Largest movements
- Cash -€29,842
down €29,842 (-54.1%), from €55,172 to €25,329
mainly Debts after one year (-€70,000) and Other debts (-€50,000)
- Tangible fixed assets -€26,329
down €26,329 (-13.4%), from €196,838 to €170,509
of which Land and buildings: -€24,061
- Stocks and contracts +€6,990
up €6,990 (+31.2%), from €22,376 to €29,365
- Debts after one year -€70,000
no longer reported in 2025 (was €70,000)
- Profit (loss) carried forward +€60,606
up €60,606 (+18.8%), from -€321,959 to -€261,353
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Tax, wage and social debts +€16,734
up €16,734 (+37.9%), from €44,158 to €60,892
of which Remuneration and social security: +€18,946
- Trade debts -€10,015
down €10,015 (-16.4%), from €61,224 to €51,209
- Turnover +€213,886
up €213,886 (+18.0%), from €1.2m to €1.4m
- Services and other goods +€117,684
up €117,684 (+64.5%), from €182,503 to €300,187
- Goods and materials +€81,955
up €81,955 (+12.6%), from €650,005 to €731,960
of which Purchases: +€91,664
- Other operating income +€42,531
up €42,531 (+256%), from €16,586 to €59,116
- Staff costs +€35,366
up €35,366 (+12.1%), from €291,101 to €326,467
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 | €577,831 | €521,351 | -€56,480 | -9.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €411,598 | €385,269 | -€26,329 | -6.4% |
| Tangible fixed assets | 22/27 | €196,838 | €170,509 | -€26,329 | -13.4% |
| Land and buildings | 22 | €176,088 | €152,028 | -€24,061 | -13.7% |
| Plant, machinery and equipment | 23 | €18,733 | €16,987 | -€1,746 | -9.3% |
| Furniture and vehicles | 24 | €2,017 | €1,494 | -€522 | -25.9% |
| Financial fixed assets | 28 | €214,760 | €214,760 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €214,625 | €214,625 | = | 0.0% |
| Participating interests | 282 | €214,625 | €214,625 | = | 0.0% |
| Other financial fixed assets | 284/8 | €135 | €135 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €166,233 | €136,082 | -€30,150 | -18.1% |
| Stocks and contracts in progress | 3 | €22,376 | €29,365 | +€6,990 | +31.2% |
| Stocks | 30/36 | €22,376 | €29,365 | +€6,990 | +31.2% |
| Goods purchased for resale | 34 | €22,376 | €29,365 | +€6,990 | +31.2% |
| Amounts receivable within one year | 40/41 | €85,798 | €81,388 | -€4,411 | -5.1% |
| Trade receivables | 40 | €72,437 | €63,312 | -€9,125 | -12.6% |
| Other amounts receivable | 41 | €13,361 | €18,075 | +€4,714 | +35.3% |
| Cash at bank and in hand | 54/58 | €55,172 | €25,329 | -€29,842 | -54.1% |
| Deferred charges and accrued income | 490/1 | €2,887 | - | -€2,887 | |
| Total equity and liabilities | 10/49 | €577,831 | €521,351 | -€56,480 | -9.8% |
| Equity | 10/15 | €348,041 | €408,647 | +€60,606 | +17.4% |
| Contributions | 10/11 | €670,000 | €670,000 | = | 0.0% |
| Capital | 10 | €670,000 | €670,000 | = | 0.0% |
| Issued capital | 100 | €670,000 | €670,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€321,959 | -€261,353 | +€60,606 | +18.8% |
| Amounts payable | 17/49 | €229,789 | €112,704 | -€117,085 | -51.0% |
| Amounts payable after more than one year | 17 | €70,000 | - | -€70,000 | |
| Other amounts payable | 178/9 | €70,000 | - | -€70,000 | |
| Amounts payable within one year | 42/48 | €155,382 | €112,101 | -€43,281 | -27.9% |
| Trade debts | 44 | €61,224 | €51,209 | -€10,015 | -16.4% |
| Suppliers | 440/4 | €61,224 | €51,209 | -€10,015 | -16.4% |
| Taxes, remuneration and social security | 45 | €44,158 | €60,892 | +€16,734 | +37.9% |
| Taxes | 450/3 | €10,871 | €8,658 | -€2,212 | -20.4% |
| Remuneration and social security | 454/9 | €33,288 | €52,234 | +€18,946 | +56.9% |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Accrued charges and deferred income | 492/3 | €4,407 | €602 | -€3,805 | -86.3% |
| Operating income | 70/76A | €1,202,636 | €1,463,635 | +€260,999 | +21.7% |
| Turnover | 70 | €1,186,051 | €1,399,937 | +€213,886 | +18.0% |
| Other operating income | 74 | €16,586 | €59,116 | +€42,531 | +256% |
| Non-recurring operating income | 76A | - | €4,582 | +€4,582 | |
| Operating charges | 60/66A | €1,181,871 | €1,402,195 | +€220,324 | +18.6% |
| Goods for resale, raw materials and consumables | 60 | €650,005 | €731,960 | +€81,955 | +12.6% |
| Purchases | 600/8 | €647,286 | €738,950 | +€91,664 | +14.2% |
| Change in stocks: decrease (increase) | 609 | €2,719 | -€6,990 | -€9,709 | |
| Services and other goods | 61 | €182,503 | €300,187 | +€117,684 | +64.5% |
| Remuneration, social security and pensions | 62 | €291,101 | €326,467 | +€35,366 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,199 | €32,486 | -€15,713 | -32.6% |
| Other operating charges | 640/8 | €10,062 | €11,095 | +€1,032 | +10.3% |
| Operating profit (loss) | 9901 | €20,766 | €61,440 | +€40,675 | +196% |
| Financial income | 75/76B | €1,211 | - | -€1,211 | |
| Recurring financial income | 75 | €1,211 | - | -€1,211 | |
| Other financial income | 752/9 | €1,211 | - | -€1,211 | |
| Financial charges | 65/66B | €2,196 | €515 | -€1,681 | -76.5% |
| Recurring financial charges | 65 | €2,196 | €515 | -€1,681 | -76.5% |
| Debt charges | 650 | €1,287 | - | -€1,287 | |
| Other financial charges | 652/9 | €909 | €515 | -€394 | -43.3% |
| Profit (loss) for the period before taxes | 9903 | €19,780 | €60,925 | +€41,145 | +208% |
| Income taxes | 67/77 | €272 | €319 | +€48 | +17.5% |
| Taxes | 670/3 | €272 | €319 | +€48 | +17.5% |
| Profit (loss) for the period | 9904 | €19,509 | €60,606 | +€41,097 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €19,509 | €60,606 | +€41,097 | +211% |
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 13 October 2026 via checked.be.