GRAY WOLF CONSULTING: 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.
GRAY WOLF CONSULTING
Largest movements
- Receivables within one year -€34,782
down €34,782 (-72.0%), from €48,304 to €13,523
of which Trade receivables: -€28,808
- Tangible fixed assets -€19,237
down €19,237 (-38.8%), from €49,617 to €30,380
of which Furniture and vehicles: -€17,107
- Cash +€8,865
up €8,865 (+72.2%), from €12,286 to €21,151
mainly Receivables within one year (+€34,782) and Other debts (+€27,697)
- Profit (loss) carried forward -€33,058
new in 2025: -€33,058
- Other debts +€27,697
new in 2025: €27,697
- Tax, wage and social debts -€25,492
down €25,492 (-51.2%), from €49,804 to €24,312
of which Taxes: -€24,716
- Debts after one year -€10,412
down €10,412 (-66.2%), from €15,726 to €5,314
- Trade debts -€4,091
down €4,091 (-89.1%), from €4,590 to €499
- Gross operating margin +€15,502
up €15,502 (+60.7%), from -€25,518 to -€10,016
- Other operating charges -€6,178
down €6,178 (-83.0%), from €7,439 to €1,262
- Financial charges -€1,483
down €1,483 (-59.4%), from €2,499 to €1,016
- Depreciation -€395
down €395 (-2.0%), from €20,127 to €19,732
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 | €111,832 | €66,757 | -€45,075 | -40.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €49,617 | €30,380 | -€19,237 | -38.8% |
| Tangible fixed assets | 22/27 | €49,617 | €30,380 | -€19,237 | -38.8% |
| Plant, machinery and equipment | 23 | €3,258 | €1,128 | -€2,130 | -65.4% |
| Furniture and vehicles | 24 | €46,358 | €29,252 | -€17,107 | -36.9% |
| Current assets | 29/58 | €62,215 | €36,377 | -€25,838 | -41.5% |
| Amounts receivable within one year | 40/41 | €48,304 | €13,523 | -€34,782 | -72.0% |
| Trade receivables | 40 | €42,326 | €13,518 | -€28,808 | -68.1% |
| Other amounts receivable | 41 | €5,978 | €4 | -€5,974 | -99.9% |
| Cash at bank and in hand | 54/58 | €12,286 | €21,151 | +€8,865 | +72.2% |
| Deferred charges and accrued income | 490/1 | €1,625 | €1,704 | +€79 | +4.9% |
| Total equity and liabilities | 10/49 | €111,832 | €66,757 | -€45,075 | -40.3% |
| Equity | 10/15 | €31,332 | -€1,726 | -€33,058 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €26,332 | €26,332 | = | 0.0% |
| Distributable reserves | 133 | €26,332 | €26,332 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€33,058 | -€33,058 | |
| Amounts payable | 17/49 | €80,500 | €68,483 | -€12,017 | -14.9% |
| Amounts payable after more than one year | 17 | €15,726 | €5,314 | -€10,412 | -66.2% |
| Financial debts | 170/4 | €15,726 | €5,314 | -€10,412 | -66.2% |
| Amounts payable within one year | 42/48 | €64,774 | €63,169 | -€1,605 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €10,131 | €10,412 | +€281 | +2.8% |
| Trade debts | 44 | €4,590 | €499 | -€4,091 | -89.1% |
| Suppliers | 440/4 | €4,590 | €499 | -€4,091 | -89.1% |
| Advances received on contracts in progress | 46 | €249 | €249 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €49,804 | €24,312 | -€25,492 | -51.2% |
| Taxes | 450/3 | €47,189 | €22,473 | -€24,716 | -52.4% |
| Remuneration and social security | 454/9 | €2,615 | €1,839 | -€776 | -29.7% |
| Other amounts payable | 47/48 | - | €27,697 | +€27,697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,127 | €19,732 | -€395 | -2.0% |
| Other operating charges | 640/8 | €7,439 | €1,262 | -€6,178 | -83.0% |
| Non-recurring operating charges | 66A | - | €820 | +€820 | |
| Gross operating margin | 9900 | -€25,518 | -€10,016 | +€15,502 | +60.7% |
| Operating profit (loss) | 9901 | -€53,084 | -€31,830 | +€21,255 | +40.0% |
| Financial income | 75/76B | €129 | €0 | -€129 | -100.0% |
| Recurring financial income | 75 | €129 | €0 | -€129 | -100.0% |
| Financial charges | 65/66B | €2,499 | €1,016 | -€1,483 | -59.4% |
| Recurring financial charges | 65 | €2,499 | €1,016 | -€1,483 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | -€55,454 | -€32,845 | +€22,608 | +40.8% |
| Income taxes | 67/77 | €199 | €213 | +€14 | +7.1% |
| Profit (loss) for the period | 9904 | -€55,652 | -€33,058 | +€22,594 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,652 | -€33,058 | +€22,594 | +40.6% |
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 4 October 2026 via checked.be.