Banden Wolfs: 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.
Banden Wolfs
Largest movements
- Receivables within one year -€26,045
down €26,045 (-14.4%), from €181,425 to €155,380
of which Trade receivables: -€26,437
- Stocks and contracts +€17,992
up €17,992 (+15.1%), from €119,409 to €137,401
- Tangible fixed assets -€15,705
down €15,705 (-16.2%), from €97,208 to €81,503
of which Leasing and similar rights: -€17,280
- Cash -€8,357
down €8,357 (-10.5%), from €79,388 to €71,031
mainly Debts after one year (-€47,334) and Investment in fixed assets (net) (-€18,381)
- Reserves +€51,000
up €51,000 (+101%), from €50,650 to €101,650
- Debts after one year -€47,334
down €47,334 (-42.3%), from €111,846 to €64,511
- Profit (loss) carried forward -€25,526
down €25,526 (-99.6%), from €25,619 to €92
- Trade debts -€13,884
down €13,884 (-6.3%), from €221,757 to €207,873
- Other debts -€7,500
down €7,500 (-78.7%), from €9,531 to €2,031
- Write-downs +€3,955
new in 2025: €3,955
- Depreciation -€3,141
down €3,141 (-8.4%), from €37,228 to €34,086
- Gross operating margin +€3,075
up €3,075 (+4.1%), from €74,987 to €78,062
- Financial charges +€2,350
up €2,350 (+79.6%), from €2,952 to €5,302
of which Financial charges: +€2,350
- Taxes -€1,628
down €1,628 (-15.4%), from €10,578 to €8,950
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 | €502,866 | €470,658 | -€32,208 | -6.4% |
| Fixed assets | 21/28 | €115,328 | €99,623 | -€15,705 | -13.6% |
| Tangible fixed assets | 22/27 | €97,208 | €81,503 | -€15,705 | -16.2% |
| Land and buildings | 22 | €27,701 | €24,501 | -€3,200 | -11.6% |
| Plant, machinery and equipment | 23 | €38,596 | €41,073 | +€2,477 | +6.4% |
| Furniture and vehicles | 24 | €3,588 | €5,886 | +€2,298 | +64.1% |
| Leasing and similar rights | 25 | €27,324 | €10,044 | -€17,280 | -63.2% |
| Financial fixed assets | 28 | €18,120 | €18,120 | = | 0.0% |
| Current assets | 29/58 | €387,538 | €371,035 | -€16,503 | -4.3% |
| Stocks and contracts in progress | 3 | €119,409 | €137,401 | +€17,992 | +15.1% |
| Stocks | 30/36 | €119,409 | €137,401 | +€17,992 | +15.1% |
| Amounts receivable within one year | 40/41 | €181,425 | €155,380 | -€26,045 | -14.4% |
| Trade receivables | 40 | €180,987 | €154,550 | -€26,437 | -14.6% |
| Other amounts receivable | 41 | €438 | €831 | +€392 | +89.5% |
| Cash at bank and in hand | 54/58 | €79,388 | €71,031 | -€8,357 | -10.5% |
| Deferred charges and accrued income | 490/1 | €7,316 | €7,223 | -€93 | -1.3% |
| Total equity and liabilities | 10/49 | €502,866 | €470,658 | -€32,208 | -6.4% |
| Equity | 10/15 | €86,269 | €111,742 | +€25,474 | +29.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €50,650 | €101,650 | +€51,000 | +101% |
| Distributable reserves | 133 | €50,650 | €101,650 | +€51,000 | +101% |
| Profit (loss) carried forward | 14 | €25,619 | €92 | -€25,526 | -99.6% |
| Amounts payable | 17/49 | €416,598 | €358,916 | -€57,682 | -13.8% |
| Amounts payable after more than one year | 17 | €111,846 | €64,511 | -€47,334 | -42.3% |
| Financial debts | 170/4 | €111,846 | €64,511 | -€47,334 | -42.3% |
| Amounts payable within one year | 42/48 | €304,752 | €294,405 | -€10,347 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €26,179 | €32,682 | +€6,504 | +24.8% |
| Trade debts | 44 | €221,757 | €207,873 | -€13,884 | -6.3% |
| Suppliers | 440/4 | €221,757 | €207,873 | -€13,884 | -6.3% |
| Taxes, remuneration and social security | 45 | €47,284 | €51,818 | +€4,533 | +9.6% |
| Taxes | 450/3 | €47,284 | €51,818 | +€4,533 | +9.6% |
| Other amounts payable | 47/48 | €9,531 | €2,031 | -€7,500 | -78.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,228 | €34,086 | -€3,141 | -8.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,955 | +€3,955 | |
| Other operating charges | 640/8 | €1,197 | €1,402 | +€205 | +17.1% |
| Gross operating margin | 9900 | €74,987 | €78,062 | +€3,075 | +4.1% |
| Operating profit (loss) | 9901 | €36,563 | €38,619 | +€2,056 | +5.6% |
| Financial income | 75/76B | €2,543 | €1,107 | -€1,436 | -56.5% |
| Recurring financial income | 75 | €2,543 | €1,107 | -€1,436 | -56.5% |
| Financial charges | 65/66B | €2,952 | €5,302 | +€2,350 | +79.6% |
| Recurring financial charges | 65 | €2,952 | €5,302 | +€2,350 | +79.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €36,154 | €34,424 | -€1,730 | -4.8% |
| Income taxes | 67/77 | €10,578 | €8,950 | -€1,628 | -15.4% |
| Profit (loss) for the period | 9904 | €25,577 | €25,474 | -€103 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,577 | €25,474 | -€103 | -0.4% |
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 23 October 2026 via checked.be.