De Warande: what changed
Two fiscal 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.
De Warande
Largest movements
- Tangible fixed assets -€172,175
down €172,175 (-11.0%), from €1.6m to €1.4m
of which Land and buildings: -€172,001
- Cash -€139,903
down €139,903 (-49.3%), from €283,803 to €143,900
mainly Other debts (-€179,202) and Net result for the year (-€124,475)
- Other debts -€179,202
down €179,202 (-27.5%), from €652,522 to €473,320
- Reserves -€124,475
down €124,475 (-12.4%), from €1.0m to €877,805
of which Tax-exempt reserves: -€117,867
- Gross operating margin +€25,908
up €25,908 (+21.9%), from €118,243 to €144,152
- Taxes +€11,590
up €11,590 (+20973.1%), from €55 to €11,645
- Depreciation -€3,843
down €3,843 (-1.9%), from €198,244 to €194,401
- Financial charges -€3,241
down €3,241 (-7.1%), from €45,482 to €42,240
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 | €1,859,772 | €1,550,293 | -€309,480 | -16.6% |
| Fixed assets | 21/28 | €1,567,915 | €1,395,740 | -€172,175 | -11.0% |
| Tangible fixed assets | 22/27 | €1,567,915 | €1,395,740 | -€172,175 | -11.0% |
| Land and buildings | 22 | €1,560,180 | €1,388,179 | -€172,001 | -11.0% |
| Plant, machinery and equipment | 23 | €244 | - | -€244 | |
| Furniture and vehicles | 24 | €7,491 | €7,561 | +€70 | +0.9% |
| Current assets | 29/58 | €291,857 | €154,553 | -€137,304 | -47.0% |
| Cash at bank and in hand | 54/58 | €283,803 | €143,900 | -€139,903 | -49.3% |
| Deferred charges and accrued income | 490/1 | €8,054 | €10,653 | +€2,598 | +32.3% |
| Total equity and liabilities | 10/49 | €1,859,772 | €1,550,293 | -€309,480 | -16.6% |
| Equity | 10/15 | €1,152,280 | €1,027,805 | -€124,475 | -10.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €1,002,280 | €877,805 | -€124,475 | -12.4% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €515,667 | €397,801 | -€117,867 | -22.9% |
| Distributable reserves | 133 | €471,613 | €465,004 | -€6,609 | -1.4% |
| Amounts payable | 17/49 | €707,492 | €522,488 | -€185,004 | -26.1% |
| Amounts payable within one year | 42/48 | €653,463 | €474,063 | -€179,399 | -27.5% |
| Trade debts | 44 | €697 | €487 | -€210 | -30.1% |
| Suppliers | 440/4 | €697 | €487 | -€210 | -30.1% |
| Taxes, remuneration and social security | 45 | €244 | €257 | +€13 | +5.4% |
| Taxes | 450/3 | €244 | €257 | +€13 | +5.4% |
| Other amounts payable | 47/48 | €652,522 | €473,320 | -€179,202 | -27.5% |
| Accrued charges and deferred income | 492/3 | €54,030 | €48,424 | -€5,605 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,244 | €194,401 | -€3,843 | -1.9% |
| Other operating charges | 640/8 | €20,939 | €20,341 | -€598 | -2.9% |
| Gross operating margin | 9900 | €118,243 | €144,152 | +€25,908 | +21.9% |
| Operating profit (loss) | 9901 | -€100,939 | -€70,590 | +€30,349 | +30.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €45,482 | €42,240 | -€3,241 | -7.1% |
| Recurring financial charges | 65 | €45,482 | €42,240 | -€3,241 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€146,421 | -€112,830 | +€33,591 | +22.9% |
| Income taxes | 67/77 | €55 | €11,645 | +€11,590 | +20973.1% |
| Profit (loss) for the period | 9904 | -€146,476 | -€124,475 | +€22,001 | +15.0% |
| Transfer from tax-exempt reserves | 789 | €117,924 | €117,867 | -€57 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,553 | -€6,609 | +€21,944 | +76.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.