DE WOLF MANAGEMENT: 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.
DE WOLF MANAGEMENT
Largest movements
- Financial fixed assets -€560,000
down €560,000 (-100.0%), from €560,000 to €0
- Receivables within one year +€21,791
up €21,791 (+1591.2%), from €1,369 to €23,160
of which Other amounts receivable: +€11,482
- Debts after one year -€266,252
down €266,252 (-84.2%), from €316,252 to €50,000
- Profit (loss) carried forward -€131,595
down €131,595, from €0 to -€131,595
- Other debts -€71,102
down €71,102 (-96.9%), from €73,373 to €2,271
- Current portion of long-term debt -€33,277
down €33,277 (-100.0%), from €33,277 to €0
- Reserves -€28,824
down €28,824 (-15.0%), from €192,549 to €163,726
- Financial charges +€135,333
up €135,333 (+1703.6%), from €7,944 to €143,277
- Gross operating margin -€46,840
down €46,840 (-74.5%), from €62,844 to €16,004
- Taxes -€11,464
down €11,464 (-84.1%), from €13,631 to €2,166
- Staff costs -€1,639
down €1,639 (-100.0%), from €1,639 to €0
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 | €641,369 | €96,653 | -€544,716 | -84.9% |
| Fixed assets | 21/28 | €565,238 | €3,964 | -€561,273 | -99.3% |
| Tangible fixed assets | 22/27 | €5,238 | €3,964 | -€1,273 | -24.3% |
| Land and buildings | 22 | €989 | €728 | -€261 | -26.4% |
| Plant, machinery and equipment | 23 | €2,973 | €2,260 | -€713 | -24.0% |
| Furniture and vehicles | 24 | €1,275 | €976 | -€299 | -23.5% |
| Financial fixed assets | 28 | €560,000 | €0 | -€560,000 | -100.0% |
| Current assets | 29/58 | €76,131 | €92,689 | +€16,557 | +21.7% |
| Amounts receivable within one year | 40/41 | €1,369 | €23,160 | +€21,791 | +1591.2% |
| Trade receivables | 40 | - | €10,309 | +€10,309 | |
| Other amounts receivable | 41 | €1,369 | €12,852 | +€11,482 | +838.4% |
| Cash at bank and in hand | 54/58 | €66,771 | €62,773 | -€3,998 | -6.0% |
| Deferred charges and accrued income | 490/1 | €7,991 | €6,756 | -€1,236 | -15.5% |
| Total equity and liabilities | 10/49 | €641,369 | €96,653 | -€544,716 | -84.9% |
| Equity | 10/15 | €198,749 | €38,330 | -€160,419 | -80.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €192,549 | €163,726 | -€28,824 | -15.0% |
| Distributable reserves | 133 | €192,549 | €163,726 | -€28,824 | -15.0% |
| Profit (loss) carried forward | 14 | €0 | -€131,595 | -€131,595 | |
| Amounts payable | 17/49 | €442,620 | €58,323 | -€384,297 | -86.8% |
| Amounts payable after more than one year | 17 | €316,252 | €50,000 | -€266,252 | -84.2% |
| Financial debts | 170/4 | €316,252 | €50,000 | -€266,252 | -84.2% |
| Amounts payable within one year | 42/48 | €126,360 | €8,148 | -€118,212 | -93.6% |
| Current portion of amounts payable after more than one year | 42 | €33,277 | €0 | -€33,277 | -100.0% |
| Financial debts | 43 | €5,137 | €5,112 | -€25 | -0.5% |
| Credit institutions | 430/8 | €5,137 | €5,112 | -€25 | -0.5% |
| Trade debts | 44 | €925 | €765 | -€160 | -17.3% |
| Suppliers | 440/4 | €925 | €765 | -€160 | -17.3% |
| Taxes, remuneration and social security | 45 | €13,648 | €0 | -€13,648 | -100.0% |
| Taxes | 450/3 | €13,648 | €0 | -€13,648 | -100.0% |
| Other amounts payable | 47/48 | €73,373 | €2,271 | -€71,102 | -96.9% |
| Accrued charges and deferred income | 492/3 | €9 | €174 | +€166 | +1916.9% |
| Remuneration, social security and pensions | 62 | €1,639 | €0 | -€1,639 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,278 | €1,273 | -€5 | -0.4% |
| Other operating charges | 640/8 | €939 | €884 | -€55 | -5.9% |
| Gross operating margin | 9900 | €62,844 | €16,004 | -€46,840 | -74.5% |
| Operating profit (loss) | 9901 | €58,987 | €13,847 | -€45,141 | -76.5% |
| Financial income | 75/76B | €11 | €1 | -€11 | -93.8% |
| Recurring financial income | 75 | €11 | €1 | -€11 | -93.8% |
| Financial charges | 65/66B | €7,944 | €143,277 | +€135,333 | +1703.6% |
| Recurring financial charges | 65 | €7,944 | €143,277 | +€135,333 | +1703.6% |
| Profit (loss) for the period before taxes | 9903 | €51,055 | -€129,429 | -€180,484 | |
| Income taxes | 67/77 | €13,631 | €2,166 | -€11,464 | -84.1% |
| Profit (loss) for the period | 9904 | €37,424 | -€131,595 | -€169,019 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,424 | -€131,595 | -€169,019 |
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 12 October 2026 via checked.be.