DE WOLF: 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 WOLF
Largest movements
- Receivables within one year +€7,121
up €7,121 (+11.6%), from €61,229 to €68,349
of which Other amounts receivable: +€34,056
- Tangible fixed assets +€4,322
up €4,322 (+2.9%), from €148,058 to €152,379
of which Furniture and vehicles: +€7,501
- Other debts +€90,900
up €90,900, from €0 to €90,900
- Debts after one year -€89,292
down €89,292 (-62.1%), from €143,890 to €54,598
- Profit (loss) carried forward +€7,972
up €7,972, from -€4,158 to €3,814
- Current portion of long-term debt +€6,620
up €6,620 (+47.3%), from €14,006 to €20,626
- Trade debts -€5,723
down €5,723 (-86.0%), from €6,655 to €932
- Gross operating margin +€9,899
up €9,899 (+27.8%), from €35,594 to €45,493
- Depreciation +€6,007
up €6,007 (+30.3%), from €19,798 to €25,805
- Taxes +€3,252
up €3,252 (+111.9%), from €2,907 to €6,159
- Other operating charges -€3,248
down €3,248 (-68.3%), from €4,754 to €1,506
- Financial income +€1,814
up €1,814, from €0 to €1,814
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €330,710 | €342,803 | +€12,093 | +3.7% |
| Fixed assets | 21/28 | €148,540 | €152,862 | +€4,322 | +2.9% |
| Tangible fixed assets | 22/27 | €148,058 | €152,379 | +€4,322 | +2.9% |
| Plant, machinery and equipment | 23 | €65,357 | €64,366 | -€991 | -1.5% |
| Furniture and vehicles | 24 | €69,244 | €76,745 | +€7,501 | +10.8% |
| Other tangible fixed assets | 26 | €13,457 | €11,269 | -€2,188 | -16.3% |
| Financial fixed assets | 28 | €482 | €482 | = | 0.0% |
| Current assets | 29/58 | €182,170 | €189,941 | +€7,771 | +4.3% |
| Stocks and contracts in progress | 3 | €120,000 | €120,000 | = | 0.0% |
| Stocks | 30/36 | €120,000 | €120,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €61,229 | €68,349 | +€7,121 | +11.6% |
| Trade receivables | 40 | €43,633 | €16,698 | -€26,935 | -61.7% |
| Other amounts receivable | 41 | €17,595 | €51,651 | +€34,056 | +193.5% |
| Deferred charges and accrued income | 490/1 | €942 | €1,592 | +€651 | +69.1% |
| Total equity and liabilities | 10/49 | €330,710 | €342,803 | +€12,093 | +3.7% |
| Equity | 10/15 | €143,342 | €151,314 | +€7,972 | +5.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €47,500 | €47,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,158 | €3,814 | +€7,972 | |
| Amounts payable | 17/49 | €187,369 | €191,489 | +€4,121 | +2.2% |
| Amounts payable after more than one year | 17 | €143,890 | €54,598 | -€89,292 | -62.1% |
| Financial debts | 170/4 | €143,890 | €54,598 | -€89,292 | -62.1% |
| Amounts payable within one year | 42/48 | €43,478 | €136,891 | +€93,413 | +214.8% |
| Current portion of amounts payable after more than one year | 42 | €14,006 | €20,626 | +€6,620 | +47.3% |
| Financial debts | 43 | €12,220 | €14,874 | +€2,654 | +21.7% |
| Credit institutions | 430/8 | €12,220 | €14,874 | +€2,654 | +21.7% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €6,655 | €932 | -€5,723 | -86.0% |
| Suppliers | 440/4 | €6,655 | €932 | -€5,723 | -86.0% |
| Taxes, remuneration and social security | 45 | €10,598 | €9,559 | -€1,038 | -9.8% |
| Taxes | 450/3 | €10,598 | €9,559 | -€1,038 | -9.8% |
| Other amounts payable | 47/48 | €0 | €90,900 | +€90,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,798 | €25,805 | +€6,007 | +30.3% |
| Other operating charges | 640/8 | €4,754 | €1,506 | -€3,248 | -68.3% |
| Gross operating margin | 9900 | €35,594 | €45,493 | +€9,899 | +27.8% |
| Operating profit (loss) | 9901 | €11,043 | €18,183 | +€7,140 | +64.7% |
| Financial income | 75/76B | €0 | €1,814 | +€1,814 | |
| Recurring financial income | 75 | €0 | €1,814 | +€1,814 | |
| Financial charges | 65/66B | €4,917 | €5,866 | +€949 | +19.3% |
| Recurring financial charges | 65 | €4,917 | €5,866 | +€949 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €6,126 | €14,131 | +€8,005 | +130.7% |
| Income taxes | 67/77 | €2,907 | €6,159 | +€3,252 | +111.9% |
| Profit (loss) for the period | 9904 | €3,219 | €7,972 | +€4,753 | +147.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,219 | €7,972 | +€4,753 | +147.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.