WVS: 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.
WVS
Largest movements
- Tangible fixed assets -€16,669
down €16,669 (-10.9%), from €152,320 to €135,650
- Deferred charges and accrued income -€6,952
no longer reported in 2025 (was €6,952)
- Stocks and contracts -€5,000
down €5,000 (-66.7%), from €7,500 to €2,500
- Receivables within one year +€2,308
up €2,308 (+17.3%), from €13,376 to €15,683
of which Trade receivables: +€4,549
- Other debts -€16,926
down €16,926 (-66.8%), from €25,328 to €8,402
- Current portion of long-term debt +€15,797
up €15,797 (+96.3%), from €16,411 to €32,208
- Debts after one year -€12,009
down €12,009 (-15.8%), from €76,152 to €64,143
- Advances received -€8,198
no longer reported in 2025 (was €8,198)
- Trade debts -€5,422
down €5,422 (-51.9%), from €10,439 to €5,017
- Gross operating margin +€13,892
up €13,892 (+62.0%), from €22,413 to €36,305
- Depreciation -€8,676
down €8,676 (-31.8%), from €27,280 to €18,604
- Other operating charges +€1,908
up €1,908 (+81.6%), from €2,338 to €4,246
- Financial charges -€1,470
down €1,470 (-16.2%), from €9,085 to €7,615
- Taxes +€568
new in 2025: €568
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 | €180,285 | €154,346 | -€25,939 | -14.4% |
| Fixed assets | 21/28 | €152,320 | €135,650 | -€16,669 | -10.9% |
| Tangible fixed assets | 22/27 | €152,320 | €135,650 | -€16,669 | -10.9% |
| Land and buildings | 22 | €84,992 | €76,905 | -€8,087 | -9.5% |
| Plant, machinery and equipment | 23 | €60,493 | €58,248 | -€2,245 | -3.7% |
| Furniture and vehicles | 24 | €6,835 | €498 | -€6,338 | -92.7% |
| Current assets | 29/58 | €27,966 | €18,696 | -€9,270 | -33.1% |
| Stocks and contracts in progress | 3 | €7,500 | €2,500 | -€5,000 | -66.7% |
| Stocks | 30/36 | €7,500 | €2,500 | -€5,000 | -66.7% |
| Amounts receivable within one year | 40/41 | €13,376 | €15,683 | +€2,308 | +17.3% |
| Trade receivables | 40 | €9,362 | €13,911 | +€4,549 | +48.6% |
| Other amounts receivable | 41 | €4,014 | €1,772 | -€2,242 | -55.8% |
| Cash at bank and in hand | 54/58 | €138 | €512 | +€374 | +271.7% |
| Deferred charges and accrued income | 490/1 | €6,952 | - | -€6,952 | |
| Total equity and liabilities | 10/49 | €180,285 | €154,346 | -€25,939 | -14.4% |
| Equity | 10/15 | -€735 | €4,536 | +€5,271 | |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €16,100 | €16,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,835 | -€42,564 | +€5,271 | +11.0% |
| Amounts payable | 17/49 | €181,021 | €149,810 | -€31,211 | -17.2% |
| Amounts payable after more than one year | 17 | €76,152 | €64,143 | -€12,009 | -15.8% |
| Financial debts | 170/4 | €76,152 | €64,143 | -€12,009 | -15.8% |
| Amounts payable within one year | 42/48 | €104,868 | €85,667 | -€19,202 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €16,411 | €32,208 | +€15,797 | +96.3% |
| Financial debts | 43 | €42,178 | €39,472 | -€2,706 | -6.4% |
| Credit institutions | 430/8 | €42,178 | €39,472 | -€2,706 | -6.4% |
| Trade debts | 44 | €10,439 | €5,017 | -€5,422 | -51.9% |
| Suppliers | 440/4 | €10,439 | €5,017 | -€5,422 | -51.9% |
| Advances received on contracts in progress | 46 | €8,198 | - | -€8,198 | |
| Taxes, remuneration and social security | 45 | €2,315 | €568 | -€1,747 | -75.5% |
| Taxes | 450/3 | - | €568 | +€568 | |
| Remuneration and social security | 454/9 | €2,315 | - | -€2,315 | |
| Other amounts payable | 47/48 | €25,328 | €8,402 | -€16,926 | -66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,280 | €18,604 | -€8,676 | -31.8% |
| Other operating charges | 640/8 | €2,338 | €4,246 | +€1,908 | +81.6% |
| Gross operating margin | 9900 | €22,413 | €36,305 | +€13,892 | +62.0% |
| Operating profit (loss) | 9901 | -€7,205 | €13,455 | +€20,660 | |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €9,085 | €7,615 | -€1,470 | -16.2% |
| Recurring financial charges | 65 | €9,085 | €7,615 | -€1,470 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,286 | €5,839 | +€22,125 | |
| Income taxes | 67/77 | - | €568 | +€568 | |
| Profit (loss) for the period | 9904 | -€16,286 | €5,271 | +€21,557 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,286 | €5,271 | +€21,557 |
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 6 October 2026 via checked.be.