WVDA ADVISORY: 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.
WVDA ADVISORY
Largest movements
- Tangible fixed assets +€197,700
up €197,700 (+57.7%), from €342,525 to €540,225
of which Furniture and vehicles: +€208,963
- Cash -€145,548
down €145,548 (-60.4%), from €240,806 to €95,257
mainly Investment in fixed assets (net) (-€222,600) and Contributions, distributions and other (-€67,347)
- Trade debts +€42,500
up €42,500 (+152.2%), from €27,919 to €70,420
- Other debts +€28,376
up €28,376 (+72.8%), from €38,971 to €67,347
- Debts after one year -€26,193
down €26,193 (-13.6%), from €193,004 to €166,811
- Reserves +€17,382
up €17,382 (+6.7%), from €260,521 to €277,903
- Tax, wage and social debts -€16,603
down €16,603 (-30.0%), from €55,351 to €38,747
of which Taxes: -€14,127
- Other operating charges +€19,230
up €19,230 (+271.2%), from €7,091 to €26,321
- Taxes -€9,742
down €9,742 (-19.9%), from €48,914 to €39,173
- Depreciation +€6,554
up €6,554 (+35.7%), from €18,346 to €24,900
- Gross operating margin -€4,750
down €4,750 (-2.5%), from €186,437 to €181,688
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 | €620,448 | €675,612 | +€55,164 | +8.9% |
| Fixed assets | 21/28 | €347,091 | €544,791 | +€197,700 | +57.0% |
| Tangible fixed assets | 22/27 | €342,525 | €540,225 | +€197,700 | +57.7% |
| Land and buildings | 22 | €295,080 | €279,051 | -€16,029 | -5.4% |
| Plant, machinery and equipment | 23 | €9,445 | €14,210 | +€4,765 | +50.4% |
| Furniture and vehicles | 24 | €38,000 | €246,963 | +€208,963 | +549.9% |
| Financial fixed assets | 28 | €4,566 | €4,566 | = | 0.0% |
| Current assets | 29/58 | €273,357 | €130,821 | -€142,536 | -52.1% |
| Amounts receivable within one year | 40/41 | €32,551 | €33,164 | +€613 | +1.9% |
| Trade receivables | 40 | €32,551 | €31,676 | -€875 | -2.7% |
| Other amounts receivable | 41 | - | €1,488 | +€1,488 | |
| Cash at bank and in hand | 54/58 | €240,806 | €95,257 | -€145,548 | -60.4% |
| Deferred charges and accrued income | 490/1 | - | €2,400 | +€2,400 | |
| Total equity and liabilities | 10/49 | €620,448 | €675,612 | +€55,164 | +8.9% |
| Equity | 10/15 | €279,599 | €296,982 | +€17,382 | +6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €260,521 | €277,903 | +€17,382 | +6.7% |
| Distributable reserves | 133 | €260,521 | €277,903 | +€17,382 | +6.7% |
| Profit (loss) carried forward | 14 | €479 | €479 | = | 0.0% |
| Amounts payable | 17/49 | €340,849 | €378,630 | +€37,781 | +11.1% |
| Amounts payable after more than one year | 17 | €193,004 | €166,811 | -€26,193 | -13.6% |
| Financial debts | 170/4 | €193,004 | €166,811 | -€26,193 | -13.6% |
| Amounts payable within one year | 42/48 | €147,394 | €202,706 | +€55,312 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €25,153 | €26,193 | +€1,040 | +4.1% |
| Trade debts | 44 | €27,919 | €70,420 | +€42,500 | +152.2% |
| Suppliers | 440/4 | €27,919 | €70,420 | +€42,500 | +152.2% |
| Taxes, remuneration and social security | 45 | €55,351 | €38,747 | -€16,603 | -30.0% |
| Taxes | 450/3 | €52,874 | €38,747 | -€14,127 | -26.7% |
| Remuneration and social security | 454/9 | €2,476 | - | -€2,476 | |
| Other amounts payable | 47/48 | €38,971 | €67,347 | +€28,376 | +72.8% |
| Accrued charges and deferred income | 492/3 | €451 | €9,112 | +€8,662 | +1921.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,346 | €24,900 | +€6,554 | +35.7% |
| Other operating charges | 640/8 | €7,091 | €26,321 | +€19,230 | +271.2% |
| Gross operating margin | 9900 | €186,437 | €181,688 | -€4,750 | -2.5% |
| Operating profit (loss) | 9901 | €161,001 | €130,466 | -€30,535 | -19.0% |
| Financial income | 75/76B | €951 | €1,418 | +€468 | +49.2% |
| Recurring financial income | 75 | €951 | €1,418 | +€468 | +49.2% |
| Financial charges | 65/66B | €9,091 | €7,982 | -€1,108 | -12.2% |
| Recurring financial charges | 65 | €9,091 | €7,982 | -€1,108 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €152,860 | €123,902 | -€28,959 | -18.9% |
| Income taxes | 67/77 | €48,914 | €39,173 | -€9,742 | -19.9% |
| Profit (loss) for the period | 9904 | €103,946 | €84,729 | -€19,217 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €103,946 | €84,729 | -€19,217 | -18.5% |
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 4 October 2026 via checked.be.