Basile De Wulf: 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.
Basile De Wulf
Largest movements
- Receivables after one year +€198,366
up €198,366 (+99.2%), from €200,000 to €398,366
- Receivables within one year +€18,675
up €18,675 (+83.7%), from €22,325 to €41,000
- Tangible fixed assets +€17,680
up €17,680 (+11.2%), from €157,211 to €174,891
of which Plant, machinery and equipment: +€22,761
- Debts after one year +€153,140
up €153,140 (+104%), from €147,816 to €300,956
of which Financial debts: +€86,655
- Profit (loss) carried forward +€47,139
up €47,139 (+24.3%), from €194,004 to €241,144
- Trade debts +€35,392
up €35,392 (+152%), from €23,264 to €58,656
- Gross operating margin -€31,493
down €31,493 (-9.9%), from €316,928 to €285,435
- Staff costs +€30,325
up €30,325 (+20.1%), from €150,842 to €181,167
- Financial income +€11,799
up €11,799 (+117,987,500%), from €0 to €11,799
- Depreciation +€6,368
up €6,368 (+27.2%), from €23,371 to €29,739
- Other operating charges -€4,945
down €4,945 (-69.7%), from €7,090 to €2,145
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 | €555,766 | €798,945 | +€243,179 | +43.8% |
| Fixed assets | 21/28 | €158,211 | €175,891 | +€17,680 | +11.2% |
| Tangible fixed assets | 22/27 | €157,211 | €174,891 | +€17,680 | +11.2% |
| Plant, machinery and equipment | 23 | €134,594 | €157,354 | +€22,761 | +16.9% |
| Furniture and vehicles | 24 | €20,347 | €15,505 | -€4,842 | -23.8% |
| Other tangible fixed assets | 26 | €2,270 | €2,032 | -€238 | -10.5% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €397,555 | €623,054 | +€225,499 | +56.7% |
| Amounts receivable after more than one year | 29 | €200,000 | €398,366 | +€198,366 | +99.2% |
| Trade receivables | 290 | €200,000 | €398,366 | +€198,366 | +99.2% |
| Stocks and contracts in progress | 3 | €115,035 | €118,913 | +€3,878 | +3.4% |
| Stocks | 30/36 | €115,035 | €118,913 | +€3,878 | +3.4% |
| Amounts receivable within one year | 40/41 | €22,325 | €41,000 | +€18,675 | +83.7% |
| Trade receivables | 40 | €22,325 | €41,000 | +€18,675 | +83.7% |
| Cash at bank and in hand | 54/58 | €55,347 | €58,696 | +€3,349 | +6.1% |
| Deferred charges and accrued income | 490/1 | €4,848 | €6,079 | +€1,231 | +25.4% |
| Total equity and liabilities | 10/49 | €555,766 | €798,945 | +€243,179 | +43.8% |
| Equity | 10/15 | €295,004 | €342,144 | +€47,139 | +16.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,004 | €241,144 | +€47,139 | +24.3% |
| Amounts payable | 17/49 | €260,762 | €456,801 | +€196,040 | +75.2% |
| Amounts payable after more than one year | 17 | €147,816 | €300,956 | +€153,140 | +104% |
| Financial debts | 170/4 | - | €86,655 | +€86,655 | |
| Other amounts payable | 178/9 | €147,816 | €214,301 | +€66,485 | +45.0% |
| Amounts payable within one year | 42/48 | €112,946 | €155,845 | +€42,899 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €14,282 | €21,903 | +€7,621 | +53.4% |
| Trade debts | 44 | €23,264 | €58,656 | +€35,392 | +152% |
| Suppliers | 440/4 | €23,264 | €58,656 | +€35,392 | +152% |
| Advances received on contracts in progress | 46 | €1,840 | €1,840 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €70,092 | €72,614 | +€2,522 | +3.6% |
| Taxes | 450/3 | €58,604 | €44,709 | -€13,895 | -23.7% |
| Remuneration and social security | 454/9 | €11,488 | €27,905 | +€16,417 | +143% |
| Other amounts payable | 47/48 | €3,468 | €833 | -€2,635 | -76.0% |
| Non-recurring operating income | 76A | - | €358 | +€358 | |
| Remuneration, social security and pensions | 62 | €150,842 | €181,167 | +€30,325 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,371 | €29,739 | +€6,368 | +27.2% |
| Other operating charges | 640/8 | €7,090 | €2,145 | -€4,945 | -69.7% |
| Gross operating margin | 9900 | €316,928 | €285,435 | -€31,493 | -9.9% |
| Operating profit (loss) | 9901 | €135,625 | €72,384 | -€63,241 | -46.6% |
| Financial income | 75/76B | €0 | €11,799 | +€11,799 | +117,987,500% |
| Recurring financial income | 75 | €0 | €11,799 | +€11,799 | +117,987,500% |
| Financial charges | 65/66B | €5,584 | €7,901 | +€2,317 | +41.5% |
| Recurring financial charges | 65 | €5,584 | €7,901 | +€2,317 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €130,041 | €76,281 | -€53,760 | -41.3% |
| Income taxes | 67/77 | €29,429 | €28,309 | -€1,119 | -3.8% |
| Profit (loss) for the period | 9904 | €100,613 | €47,972 | -€52,640 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €100,613 | €47,972 | -€52,640 | -52.3% |
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 19 October 2026 via checked.be.