GREGORY WATHELET BREEDING: 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.
GREGORY WATHELET BREEDING
Largest movements
- Receivables within one year +€139,000
up €139,000 (+434%), from €32,016 to €171,017
of which Trade receivables: +€132,442
- Stocks and contracts +€49,493
up €49,493 (+23.8%), from €208,040 to €257,533
- Deferred charges and accrued income +€13,303
new in 2025: €13,303
- Tangible fixed assets -€12,291
down €12,291 (-65.5%), from €18,768 to €6,477
- Cash -€8,184
down €8,184 (-34.8%), from €23,484 to €15,300
mainly Receivables within one year (-€139,000) and Stocks and contracts (-€49,493)
- Other debts +€166,861
up €166,861 (+100%), from €166,052 to €332,913
- Trade debts +€75,071
up €75,071 (+181%), from €41,393 to €116,464
- Profit (loss) carried forward -€25,210
down €25,210, from €10,984 to -€14,225
- Current portion of long-term debt -€17,745
down €17,745 (-53.4%), from €33,222 to €15,478
- Debts after one year -€15,478
no longer reported in 2025 (was €15,478)
- Gross operating margin -€111,600
down €111,600, from €107,025 to -€4,576
- Taxes -€2,178
no longer reported in 2025 (was €2,178)
- Financial charges +€1,895
up €1,895 (+25.9%), from €7,304 to €9,199
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 | €284,308 | €465,629 | +€181,322 | +63.8% |
| Fixed assets | 21/28 | €20,768 | €8,477 | -€12,291 | -59.2% |
| Tangible fixed assets | 22/27 | €18,768 | €6,477 | -€12,291 | -65.5% |
| Plant, machinery and equipment | 23 | €18,768 | €6,477 | -€12,291 | -65.5% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €263,540 | €457,153 | +€193,612 | +73.5% |
| Stocks and contracts in progress | 3 | €208,040 | €257,533 | +€49,493 | +23.8% |
| Stocks | 30/36 | €208,040 | €257,533 | +€49,493 | +23.8% |
| Amounts receivable within one year | 40/41 | €32,016 | €171,017 | +€139,000 | +434% |
| Trade receivables | 40 | €24,668 | €157,110 | +€132,442 | +537% |
| Other amounts receivable | 41 | €7,348 | €13,907 | +€6,559 | +89.3% |
| Cash at bank and in hand | 54/58 | €23,484 | €15,300 | -€8,184 | -34.8% |
| Deferred charges and accrued income | 490/1 | - | €13,303 | +€13,303 | |
| Total equity and liabilities | 10/49 | €284,308 | €465,629 | +€181,322 | +63.8% |
| Equity | 10/15 | €25,984 | €775 | -€25,210 | -97.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,984 | -€14,225 | -€25,210 | |
| Amounts payable | 17/49 | €258,323 | €464,855 | +€206,531 | +80.0% |
| Amounts payable after more than one year | 17 | €15,478 | - | -€15,478 | |
| Financial debts | 170/4 | €15,478 | - | -€15,478 | |
| Amounts payable within one year | 42/48 | €242,845 | €464,855 | +€222,009 | +91.4% |
| Current portion of amounts payable after more than one year | 42 | €33,222 | €15,478 | -€17,745 | -53.4% |
| Trade debts | 44 | €41,393 | €116,464 | +€75,071 | +181% |
| Suppliers | 440/4 | €41,393 | €116,464 | +€75,071 | +181% |
| Taxes, remuneration and social security | 45 | €2,178 | - | -€2,178 | |
| Taxes | 450/3 | €2,178 | - | -€2,178 | |
| Other amounts payable | 47/48 | €166,052 | €332,913 | +€166,861 | +100% |
| Non-recurring operating income | 76A | - | €3,709 | +€3,709 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,100 | €11,500 | -€600 | -5.0% |
| Gross operating margin | 9900 | €107,025 | -€4,576 | -€111,600 | |
| Operating profit (loss) | 9901 | €94,925 | -€16,076 | -€111,000 | |
| Financial income | 75/76B | - | €65 | +€65 | |
| Recurring financial income | 75 | - | €65 | +€65 | |
| Financial charges | 65/66B | €7,304 | €9,199 | +€1,895 | +25.9% |
| Recurring financial charges | 65 | €7,304 | €9,199 | +€1,895 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €87,621 | -€25,210 | -€112,830 | |
| Income taxes | 67/77 | €2,178 | - | -€2,178 | |
| Profit (loss) for the period | 9904 | €85,442 | -€25,210 | -€110,652 | |
| Profit (loss) for the period to be appropriated | 9905 | €85,442 | -€25,210 | -€110,652 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.