WVLJ Projects: 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.
WVLJ Projects
Largest movements
- Cash +€18,446
up €18,446 (+14.8%), from €124,506 to €142,952
- Tangible fixed assets +€3,237
up €3,237 (+6.3%), from €51,243 to €54,480
of which Furniture and vehicles: +€6,901
- Profit (loss) carried forward +€37,474
new in 2025: €37,474
- Reserves -€12,739
down €12,739 (-8.7%), from €146,898 to €134,159
- Trade debts +€6,453
up €6,453 (+494.9%), from €1,304 to €7,757
- Other debts -€5,378
down €5,378 (-26.8%), from €20,086 to €14,708
- Tax, wage and social debts -€2,298
down €2,298 (-8.9%), from €25,752 to €23,454
- Gross operating margin +€16,247
up €16,247 (+37.3%), from €43,516 to €59,763
- Taxes +€3,198
up €3,198 (+41.1%), from €7,778 to €10,976
- Depreciation +€1,955
up €1,955 (+23.2%), from €8,426 to €10,381
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €199,040 | €222,552 | +€23,512 | +11.8% |
| Fixed assets | 21/28 | €51,243 | €54,480 | +€3,237 | +6.3% |
| Tangible fixed assets | 22/27 | €51,243 | €54,480 | +€3,237 | +6.3% |
| Land and buildings | 22 | €46,191 | €42,310 | -€3,881 | -8.4% |
| Plant, machinery and equipment | 23 | €1,775 | €1,992 | +€217 | +12.2% |
| Furniture and vehicles | 24 | €3,277 | €10,178 | +€6,901 | +210.6% |
| Current assets | 29/58 | €147,797 | €168,072 | +€20,275 | +13.7% |
| Amounts receivable within one year | 40/41 | €21,394 | €22,893 | +€1,499 | +7.0% |
| Trade receivables | 40 | €21,314 | €22,873 | +€1,559 | +7.3% |
| Other amounts receivable | 41 | €80 | €20 | -€60 | -75.0% |
| Cash at bank and in hand | 54/58 | €124,506 | €142,952 | +€18,446 | +14.8% |
| Deferred charges and accrued income | 490/1 | €1,897 | €2,227 | +€330 | +17.4% |
| Total equity and liabilities | 10/49 | €199,040 | €222,552 | +€23,512 | +11.8% |
| Equity | 10/15 | €151,898 | €176,633 | +€24,735 | +16.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €146,898 | €134,159 | -€12,739 | -8.7% |
| Distributable reserves | 133 | €146,898 | €134,159 | -€12,739 | -8.7% |
| Profit (loss) carried forward | 14 | - | €37,474 | +€37,474 | |
| Amounts payable | 17/49 | €47,142 | €45,919 | -€1,223 | -2.6% |
| Amounts payable within one year | 42/48 | €47,142 | €45,919 | -€1,223 | -2.6% |
| Trade debts | 44 | €1,304 | €7,757 | +€6,453 | +494.9% |
| Suppliers | 440/4 | €1,304 | €7,757 | +€6,453 | +494.9% |
| Taxes, remuneration and social security | 45 | €25,752 | €23,454 | -€2,298 | -8.9% |
| Taxes | 450/3 | €25,752 | €23,454 | -€2,298 | -8.9% |
| Other amounts payable | 47/48 | €20,086 | €14,708 | -€5,378 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,426 | €10,381 | +€1,955 | +23.2% |
| Other operating charges | 640/8 | €922 | €589 | -€333 | -36.1% |
| Gross operating margin | 9900 | €43,516 | €59,763 | +€16,247 | +37.3% |
| Operating profit (loss) | 9901 | €34,168 | €48,793 | +€14,625 | +42.8% |
| Financial charges | 65/66B | €164 | €343 | +€179 | +109.1% |
| Recurring financial charges | 65 | €164 | €343 | +€179 | +109.1% |
| Profit (loss) for the period before taxes | 9903 | €34,004 | €48,450 | +€14,446 | +42.5% |
| Income taxes | 67/77 | €7,778 | €10,976 | +€3,198 | +41.1% |
| Profit (loss) for the period | 9904 | €26,226 | €37,474 | +€11,248 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,226 | €37,474 | +€11,248 | +42.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.