DANCING WOLVES: 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.
DANCING WOLVES
Largest movements
- Cash -€118,480
down €118,480 (-71.0%), from €166,896 to €48,416
mainly Other debts (-€147,507) and Contributions, distributions and other (-€81,950)
- Receivables within one year -€43,479
down €43,479 (-13.8%), from €314,280 to €270,800
of which Other amounts receivable: -€24,319
- Tangible fixed assets -€41,459
down €41,459 (-7.2%), from €575,217 to €533,757
of which Land and buildings: -€25,608
- Other debts -€147,507
down €147,507 (-58.0%), from €254,308 to €106,801
- Reserves -€64,345
down €64,345 (-26.1%), from €246,997 to €182,652
of which Distributable reserves: -€64,345
- Debts after one year -€30,687
down €30,687 (-8.4%), from €365,154 to €334,466
- Advances received +€19,561
new in 2025: €19,561
- Accrued charges and deferred income +€13,685
new in 2025: €13,685
- Gross operating margin -€102,058
down €102,058 (-24.0%), from €426,070 to €324,012
- Staff costs +€52,068
up €52,068 (+30.8%), from €168,781 to €220,849
- Other operating charges -€11,201
down €11,201 (-73.7%), from €15,194 to €3,993
- Depreciation +€7,963
up €7,963 (+15.7%), from €50,764 to €58,726
- Taxes -€5,700
down €5,700 (-37.5%), from €15,193 to €9,493
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 | €1,231,968 | €1,035,645 | -€196,323 | -15.9% |
| Fixed assets | 21/28 | €575,451 | €533,992 | -€41,459 | -7.2% |
| Tangible fixed assets | 22/27 | €575,217 | €533,757 | -€41,459 | -7.2% |
| Land and buildings | 22 | €485,436 | €459,828 | -€25,608 | -5.3% |
| Plant, machinery and equipment | 23 | €32,992 | €22,507 | -€10,484 | -31.8% |
| Furniture and vehicles | 24 | €56,789 | €51,422 | -€5,367 | -9.5% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €656,517 | €501,653 | -€154,864 | -23.6% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €22,612 | €32,437 | +€9,825 | +43.5% |
| Stocks | 30/36 | €22,612 | €32,437 | +€9,825 | +43.5% |
| Amounts receivable within one year | 40/41 | €314,280 | €270,800 | -€43,479 | -13.8% |
| Trade receivables | 40 | €130,132 | €110,972 | -€19,160 | -14.7% |
| Other amounts receivable | 41 | €184,148 | €159,828 | -€24,319 | -13.2% |
| Cash at bank and in hand | 54/58 | €166,896 | €48,416 | -€118,480 | -71.0% |
| Deferred charges and accrued income | 490/1 | €2,729 | - | -€2,729 | |
| Total equity and liabilities | 10/49 | €1,231,968 | €1,035,645 | -€196,323 | -15.9% |
| Equity | 10/15 | €466,997 | €402,652 | -€64,345 | -13.8% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €246,997 | €182,652 | -€64,345 | -26.1% |
| Non-distributable reserves | 130/1 | €22,000 | €22,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,000 | €22,000 | = | 0.0% |
| Distributable reserves | 133 | €224,997 | €160,652 | -€64,345 | -28.6% |
| Amounts payable | 17/49 | €764,971 | €632,993 | -€131,978 | -17.3% |
| Amounts payable after more than one year | 17 | €365,154 | €334,466 | -€30,687 | -8.4% |
| Financial debts | 170/4 | €365,154 | €334,466 | -€30,687 | -8.4% |
| Amounts payable within one year | 42/48 | €399,817 | €284,841 | -€114,976 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €29,330 | €30,687 | +€1,358 | +4.6% |
| Trade debts | 44 | €75,279 | €81,201 | +€5,922 | +7.9% |
| Suppliers | 440/4 | €75,279 | €81,201 | +€5,922 | +7.9% |
| Advances received on contracts in progress | 46 | - | €19,561 | +€19,561 | |
| Taxes, remuneration and social security | 45 | €40,901 | €46,591 | +€5,690 | +13.9% |
| Taxes | 450/3 | €26,230 | €25,687 | -€542 | -2.1% |
| Remuneration and social security | 454/9 | €14,671 | €20,903 | +€6,232 | +42.5% |
| Other amounts payable | 47/48 | €254,308 | €106,801 | -€147,507 | -58.0% |
| Accrued charges and deferred income | 492/3 | - | €13,685 | +€13,685 | |
| Non-recurring operating income | 76A | €12,500 | - | -€12,500 | |
| Remuneration, social security and pensions | 62 | €168,781 | €220,849 | +€52,068 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,764 | €58,726 | +€7,963 | +15.7% |
| Other operating charges | 640/8 | €15,194 | €3,993 | -€11,201 | -73.7% |
| Gross operating margin | 9900 | €426,070 | €324,012 | -€102,058 | -24.0% |
| Operating profit (loss) | 9901 | €191,331 | €40,444 | -€150,887 | -78.9% |
| Financial income | 75/76B | €12,839 | €12,303 | -€535 | -4.2% |
| Recurring financial income | 75 | €12,839 | €12,303 | -€535 | -4.2% |
| Financial charges | 65/66B | €21,162 | €25,649 | +€4,487 | +21.2% |
| Recurring financial charges | 65 | €21,162 | €25,649 | +€4,487 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €183,008 | €27,098 | -€155,910 | -85.2% |
| Income taxes | 67/77 | €15,193 | €9,493 | -€5,700 | -37.5% |
| Profit (loss) for the period | 9904 | €167,815 | €17,605 | -€150,210 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €167,815 | €17,605 | -€150,210 | -89.5% |
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 13 October 2026 via checked.be.