WWC: 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.
WWC
Largest movements
- Receivables within one year +€36,298
up €36,298 (+45.5%), from €79,706 to €116,004
of which Trade receivables: +€27,352
- Cash -€36,084
down €36,084 (-90.4%), from €39,906 to €3,822
mainly Debts after one year (-€78,222) and Receivables within one year (-€36,298)
- Tangible fixed assets -€35,670
down €35,670 (-8.8%), from €404,352 to €368,682
of which Land and buildings: -€24,817
- Stocks and contracts -€34,019
down €34,019 (-15.3%), from €221,961 to €187,943
- Deferred charges and accrued income -€9,257
down €9,257 (-80.1%), from €11,561 to €2,304
- Debts after one year -€78,222
down €78,222 (-19.3%), from €405,671 to €327,449
- Trade debts +€38,806
up €38,806 (+36.7%), from €105,790 to €144,596
- Profit (loss) carried forward -€35,411
down €35,411 (-12.4%), from -€286,527 to -€321,938
- Current portion of long-term debt +€19,162
up €19,162 (+43.5%), from €44,060 to €63,222
- Other debts -€14,487
down €14,487 (-8.5%), from €170,727 to €156,240
- Gross operating margin +€172,722
up €172,722, from -€58,076 to €114,646
- Staff costs +€61,885
up €61,885 (+272.8%), from €22,681 to €84,566
- Financial charges +€19,393
up €19,393 (+210.2%), from €9,225 to €28,618
- Depreciation -€8,833
down €8,833 (-18.2%), from €48,442 to €39,609
- Financial income +€3,396
up €3,396 (+123.3%), from €2,754 to €6,150
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 | €758,601 | €679,870 | -€78,731 | -10.4% |
| Fixed assets | 21/28 | €405,467 | €369,797 | -€35,670 | -8.8% |
| Tangible fixed assets | 22/27 | €404,352 | €368,682 | -€35,670 | -8.8% |
| Land and buildings | 22 | €375,222 | €350,405 | -€24,817 | -6.6% |
| Plant, machinery and equipment | 23 | €10,033 | €3,981 | -€6,052 | -60.3% |
| Furniture and vehicles | 24 | €19,097 | €14,296 | -€4,801 | -25.1% |
| Financial fixed assets | 28 | €1,115 | €1,115 | = | 0.0% |
| Current assets | 29/58 | €353,134 | €310,073 | -€43,061 | -12.2% |
| Stocks and contracts in progress | 3 | €221,961 | €187,943 | -€34,019 | -15.3% |
| Stocks | 30/36 | €221,961 | €187,943 | -€34,019 | -15.3% |
| Amounts receivable within one year | 40/41 | €79,706 | €116,004 | +€36,298 | +45.5% |
| Trade receivables | 40 | €76,186 | €103,538 | +€27,352 | +35.9% |
| Other amounts receivable | 41 | €3,520 | €12,466 | +€8,946 | +254.2% |
| Cash at bank and in hand | 54/58 | €39,906 | €3,822 | -€36,084 | -90.4% |
| Deferred charges and accrued income | 490/1 | €11,561 | €2,304 | -€9,257 | -80.1% |
| Total equity and liabilities | 10/49 | €758,601 | €679,870 | -€78,731 | -10.4% |
| Equity | 10/15 | €10,662 | -€24,748 | -€35,411 | |
| Contributions | 10/11 | €6,800 | €6,800 | = | 0.0% |
| Reserves | 13 | €290,390 | €290,390 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €288,530 | €288,530 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€286,527 | -€321,938 | -€35,411 | -12.4% |
| Amounts payable | 17/49 | €747,939 | €704,618 | -€43,320 | -5.8% |
| Amounts payable after more than one year | 17 | €405,671 | €327,449 | -€78,222 | -19.3% |
| Financial debts | 170/4 | €405,671 | €327,449 | -€78,222 | -19.3% |
| Amounts payable within one year | 42/48 | €342,268 | €377,169 | +€34,901 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €44,060 | €63,222 | +€19,162 | +43.5% |
| Trade debts | 44 | €105,790 | €144,596 | +€38,806 | +36.7% |
| Suppliers | 440/4 | €105,790 | €144,596 | +€38,806 | +36.7% |
| Advances received on contracts in progress | 46 | - | €2,443 | +€2,443 | |
| Taxes, remuneration and social security | 45 | €21,691 | €10,669 | -€11,023 | -50.8% |
| Taxes | 450/3 | €21,603 | €9,530 | -€12,074 | -55.9% |
| Remuneration and social security | 454/9 | €88 | €1,139 | +€1,051 | +1192.7% |
| Other amounts payable | 47/48 | €170,727 | €156,240 | -€14,487 | -8.5% |
| Remuneration, social security and pensions | 62 | €22,681 | €84,566 | +€61,885 | +272.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,442 | €39,609 | -€8,833 | -18.2% |
| Other operating charges | 640/8 | €2,790 | €2,603 | -€187 | -6.7% |
| Gross operating margin | 9900 | -€58,076 | €114,646 | +€172,722 | |
| Operating profit (loss) | 9901 | -€131,989 | -€12,131 | +€119,858 | +90.8% |
| Financial income | 75/76B | €2,754 | €6,150 | +€3,396 | +123.3% |
| Recurring financial income | 75 | €2,754 | €6,150 | +€3,396 | +123.3% |
| Financial charges | 65/66B | €9,225 | €28,618 | +€19,393 | +210.2% |
| Recurring financial charges | 65 | €9,225 | €28,618 | +€19,393 | +210.2% |
| Profit (loss) for the period before taxes | 9903 | -€138,461 | -€34,599 | +€103,862 | +75.0% |
| Income taxes | 67/77 | €638 | €812 | +€174 | +27.3% |
| Profit (loss) for the period | 9904 | -€139,098 | -€35,411 | +€103,688 | +74.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€139,098 | -€35,411 | +€103,688 | +74.5% |
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 10 October 2026 via checked.be.