WvW 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.
WvW Projects
Largest movements
- Stocks and contracts -€53,539
down €53,539 (-61.9%), from €86,452 to €32,913
- Cash +€41,756
up €41,756 (+66.2%), from €63,081 to €104,837
mainly Net result for the year (+€96,804) and Other debts (+€62,509)
- Tangible fixed assets -€12,555
down €12,555 (-80.8%), from €15,542 to €2,988
of which Furniture and vehicles: -€11,879
- Receivables within one year -€6,264
down €6,264 (-21.5%), from €29,175 to €22,911
- Other debts +€62,509
up €62,509 (+109.2%), from €57,258 to €119,768
- Debts after one year -€50,681
no longer reported in 2025 (was €50,681)
- Reserves -€28,196
down €28,196 (-89.8%), from €31,408 to €3,212
of which Distributable reserves: -€28,196
- Current portion of long-term debt -€9,600
no longer reported in 2025 (was €9,600)
- Trade debts -€4,011
down €4,011 (-46.2%), from €8,673 to €4,662
- Gross operating margin +€91,780
up €91,780 (+165.6%), from €55,434 to €147,214
- Staff costs -€49,998
no longer reported in 2025 (was €49,998)
- Taxes +€28,236
up €28,236, from -€699 to €27,538
- Depreciation -€5,958
down €5,958 (-68.8%), from €8,664 to €2,707
- Financial charges -€3,080
down €3,080 (-23.4%), from €13,143 to €10,063
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 | €195,242 | €165,012 | -€30,229 | -15.5% |
| Fixed assets | 21/28 | €16,534 | €2,988 | -€13,546 | -81.9% |
| Intangible fixed assets | 21 | €991 | - | -€991 | |
| Tangible fixed assets | 22/27 | €15,542 | €2,988 | -€12,555 | -80.8% |
| Plant, machinery and equipment | 23 | €2,576 | €1,901 | -€676 | -26.2% |
| Furniture and vehicles | 24 | €12,966 | €1,087 | -€11,879 | -91.6% |
| Current assets | 29/58 | €178,708 | €162,025 | -€16,683 | -9.3% |
| Stocks and contracts in progress | 3 | €86,452 | €32,913 | -€53,539 | -61.9% |
| Stocks | 30/36 | €86,452 | €32,913 | -€53,539 | -61.9% |
| Amounts receivable within one year | 40/41 | €29,175 | €22,911 | -€6,264 | -21.5% |
| Trade receivables | 40 | €29,175 | €22,911 | -€6,264 | -21.5% |
| Cash at bank and in hand | 54/58 | €63,081 | €104,837 | +€41,756 | +66.2% |
| Deferred charges and accrued income | 490/1 | - | €1,364 | +€1,364 | |
| Total equity and liabilities | 10/49 | €195,242 | €165,012 | -€30,229 | -15.5% |
| Equity | 10/15 | €50,368 | €22,172 | -€28,196 | -56.0% |
| Contributions | 10/11 | €18,960 | €18,960 | = | 0.0% |
| Capital | 10 | €18,960 | €18,960 | = | 0.0% |
| Issued capital | 100 | €18,960 | €18,960 | = | 0.0% |
| Reserves | 13 | €31,408 | €3,212 | -€28,196 | -89.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €29,548 | €1,352 | -€28,196 | -95.4% |
| Amounts payable | 17/49 | €144,874 | €142,841 | -€2,033 | -1.4% |
| Amounts payable after more than one year | 17 | €50,681 | - | -€50,681 | |
| Financial debts | 170/4 | €50,681 | - | -€50,681 | |
| Amounts payable within one year | 42/48 | €94,193 | €142,841 | +€48,648 | +51.6% |
| Current portion of amounts payable after more than one year | 42 | €9,600 | - | -€9,600 | |
| Trade debts | 44 | €8,673 | €4,662 | -€4,011 | -46.2% |
| Suppliers | 440/4 | €8,673 | €4,662 | -€4,011 | -46.2% |
| Taxes, remuneration and social security | 45 | €18,661 | €18,411 | -€250 | -1.3% |
| Taxes | 450/3 | €15,020 | €18,411 | +€3,391 | +22.6% |
| Remuneration and social security | 454/9 | €3,641 | - | -€3,641 | |
| Other amounts payable | 47/48 | €57,258 | €119,768 | +€62,509 | +109.2% |
| Remuneration, social security and pensions | 62 | €49,998 | - | -€49,998 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,664 | €2,707 | -€5,958 | -68.8% |
| Other operating charges | 640/8 | €1,118 | €25 | -€1,093 | -97.7% |
| Non-recurring operating charges | 66A | - | €10,413 | +€10,413 | |
| Gross operating margin | 9900 | €55,434 | €147,214 | +€91,780 | +165.6% |
| Operating profit (loss) | 9901 | -€4,347 | €134,069 | +€138,416 | |
| Financial income | 75/76B | - | €335 | +€335 | |
| Recurring financial income | 75 | - | €335 | +€335 | |
| Financial charges | 65/66B | €13,143 | €10,063 | -€3,080 | -23.4% |
| Recurring financial charges | 65 | €13,143 | €10,063 | -€3,080 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | -€17,490 | €124,341 | +€141,831 | |
| Income taxes | 67/77 | -€699 | €27,538 | +€28,236 | |
| Profit (loss) for the period | 9904 | -€16,791 | €96,804 | +€113,595 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,791 | €96,804 | +€113,595 |
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 8 October 2026 via checked.be.