W4M: 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.
W4M
Largest movements
- Tangible fixed assets -€11,965
down €11,965 (-4.4%), from €268,929 to €256,964
of which Land and buildings: -€16,478
- Cash +€4,591
up €4,591 (+306%), from €1,501 to €6,092
mainly Depreciation (+€18,768) and Other debts (+€10,601)
- Debts after one year -€17,116
down €17,116 (-6.4%), from €269,445 to €252,330
- Other debts +€10,601
up €10,601 (+103,426%), from €10 to €10,611
- Gross operating margin -€1,250
down €1,250 (-4.9%), from €25,772 to €24,522
- Financial charges -€291
down €291 (-7.8%), from €3,725 to €3,434
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.
Derived cash bridge
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 | €270,927 | €263,709 | -€7,218 | -2.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €268,929 | €256,964 | -€11,965 | -4.4% |
| Tangible fixed assets | 22/27 | €268,929 | €256,964 | -€11,965 | -4.4% |
| Land and buildings | 22 | €247,165 | €230,688 | -€16,478 | -6.7% |
| Plant, machinery and equipment | 23 | €125 | €36 | -€89 | -70.9% |
| Furniture and vehicles | 24 | €3,766 | €3,013 | -€753 | -20.0% |
| Other tangible fixed assets | 26 | €17,873 | €23,228 | +€5,355 | +30.0% |
| Current assets | 29/58 | €1,998 | €6,745 | +€4,747 | +238% |
| Cash at bank and in hand | 54/58 | €1,501 | €6,092 | +€4,591 | +306% |
| Deferred charges and accrued income | 490/1 | €496 | €653 | +€156 | +31.5% |
| Total equity and liabilities | 10/49 | €270,927 | €263,709 | -€7,218 | -2.7% |
| Equity | 10/15 | -€18,036 | -€18,814 | -€778 | -4.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,036 | -€20,814 | -€778 | -3.9% |
| Amounts payable | 17/49 | €288,963 | €282,523 | -€6,440 | -2.2% |
| Amounts payable after more than one year | 17 | €269,445 | €252,330 | -€17,116 | -6.4% |
| Financial debts | 170/4 | €269,445 | €252,330 | -€17,116 | -6.4% |
| Amounts payable within one year | 42/48 | €19,363 | €30,192 | +€10,829 | +55.9% |
| Current portion of amounts payable after more than one year | 42 | €16,912 | €17,116 | +€204 | +1.2% |
| Trade debts | 44 | €866 | €816 | -€50 | -5.8% |
| Suppliers | 440/4 | €866 | €816 | -€50 | -5.8% |
| Taxes, remuneration and social security | 45 | €1,575 | €1,649 | +€74 | +4.7% |
| Taxes | 450/3 | €1,575 | €1,649 | +€74 | +4.7% |
| Other amounts payable | 47/48 | €10 | €10,611 | +€10,601 | +103,426% |
| Accrued charges and deferred income | 492/3 | €154 | €1 | -€153 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,846 | €18,768 | -€78 | -0.4% |
| Other operating charges | 640/8 | €3,005 | €3,100 | +€94 | +3.1% |
| Gross operating margin | 9900 | €25,772 | €24,522 | -€1,250 | -4.9% |
| Operating profit (loss) | 9901 | €3,921 | €2,655 | -€1,267 | -32.3% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €3,725 | €3,434 | -€291 | -7.8% |
| Recurring financial charges | 65 | €3,725 | €3,434 | -€291 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €196 | -€778 | -€974 | |
| Profit (loss) for the period | 9904 | €196 | -€778 | -€974 | |
| Profit (loss) for the period to be appropriated | 9905 | €196 | -€778 | -€974 |
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 24 October 2026 via checked.be.