GROOTHANDEL WARSON: 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.
GROOTHANDEL WARSON
Largest movements
- Cash -€179,440
down €179,440 (-83.7%), from €214,403 to €34,963
mainly Short-term financial debts (-€136,888) and Trade debts (-€126,055)
- Receivables within one year -€94,892
down €94,892 (-12.4%), from €766,399 to €671,507
of which Other amounts receivable: -€99,789
- Short-term financial debts -€136,888
down €136,888 (-52.1%), from €262,862 to €125,974
- Trade debts -€126,055
down €126,055 (-53.5%), from €235,799 to €109,743
- Debts after one year -€36,061
down €36,061 (-9.4%), from €382,705 to €346,644
of which Other amounts payable: -€25,000
- Tax, wage and social debts +€16,169
up €16,169 (+63.0%), from €25,674 to €41,844
of which Remuneration and social security: +€10,613
- Staff costs +€42,993
up €42,993 (+32.6%), from €132,081 to €175,073
- Gross operating margin -€16,293
down €16,293 (-7.1%), from €230,731 to €214,437
- Taxes -€13,780
down €13,780 (-64.4%), from €21,408 to €7,627
- Write-downs +€2,755
up €2,755, from €0 to €2,755
- Financial income +€2,623
up €2,623 (+12.3%), from €21,316 to €23,939
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 | €1,479,254 | €1,201,057 | -€278,197 | -18.8% |
| Fixed assets | 21/28 | €87,474 | €89,456 | +€1,982 | +2.3% |
| Tangible fixed assets | 22/27 | €86,115 | €88,097 | +€1,982 | +2.3% |
| Land and buildings | 22 | €58,787 | €55,597 | -€3,189 | -5.4% |
| Furniture and vehicles | 24 | €27,329 | €32,500 | +€5,171 | +18.9% |
| Financial fixed assets | 28 | €1,358 | €1,358 | = | 0.0% |
| Current assets | 29/58 | €1,391,781 | €1,111,602 | -€280,179 | -20.1% |
| Amounts receivable after more than one year | 29 | €2,819 | €0 | -€2,819 | -100% |
| Other amounts receivable | 291 | €2,819 | €0 | -€2,819 | -100% |
| Stocks and contracts in progress | 3 | €400,026 | €400,716 | +€690 | +0.2% |
| Stocks | 30/36 | €400,026 | €400,716 | +€690 | +0.2% |
| Amounts receivable within one year | 40/41 | €766,399 | €671,507 | -€94,892 | -12.4% |
| Trade receivables | 40 | €285,959 | €290,856 | +€4,897 | +1.7% |
| Other amounts receivable | 41 | €480,440 | €380,650 | -€99,789 | -20.8% |
| Cash at bank and in hand | 54/58 | €214,403 | €34,963 | -€179,440 | -83.7% |
| Deferred charges and accrued income | 490/1 | €8,134 | €4,416 | -€3,718 | -45.7% |
| Total equity and liabilities | 10/49 | €1,479,254 | €1,201,057 | -€278,197 | -18.8% |
| Equity | 10/15 | €561,649 | €565,792 | +€4,143 | +0.7% |
| Contributions | 10/11 | €392,000 | €392,000 | = | 0.0% |
| Capital | 10 | €392,000 | €392,000 | = | 0.0% |
| Issued capital | 100 | €392,000 | €392,000 | = | 0.0% |
| Reserves | 13 | €39,200 | €39,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €39,200 | €39,200 | = | 0.0% |
| Legal reserve | 130 | €39,200 | €39,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,449 | €134,592 | +€4,143 | +3.2% |
| Amounts payable | 17/49 | €917,605 | €635,265 | -€282,340 | -30.8% |
| Amounts payable after more than one year | 17 | €382,705 | €346,644 | -€36,061 | -9.4% |
| Financial debts | 170/4 | €32,705 | €21,644 | -€11,061 | -33.8% |
| Other amounts payable | 178/9 | €350,000 | €325,000 | -€25,000 | -7.1% |
| Amounts payable within one year | 42/48 | €534,900 | €288,622 | -€246,279 | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €10,566 | €11,061 | +€496 | +4.7% |
| Financial debts | 43 | €262,862 | €125,974 | -€136,888 | -52.1% |
| Credit institutions | 430/8 | €262,862 | €125,974 | -€136,888 | -52.1% |
| Trade debts | 44 | €235,799 | €109,743 | -€126,055 | -53.5% |
| Suppliers | 440/4 | €235,799 | €109,743 | -€126,055 | -53.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €25,674 | €41,844 | +€16,169 | +63.0% |
| Taxes | 450/3 | €8,880 | €14,437 | +€5,557 | +62.6% |
| Remuneration and social security | 454/9 | €16,794 | €27,406 | +€10,613 | +63.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €132,081 | €175,073 | +€42,993 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,847 | €14,428 | +€2,581 | +21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €2,755 | +€2,755 | |
| Other operating charges | 640/8 | €13,745 | €16,063 | +€2,318 | +16.9% |
| Gross operating margin | 9900 | €230,731 | €214,437 | -€16,293 | -7.1% |
| Operating profit (loss) | 9901 | €73,058 | €6,118 | -€66,940 | -91.6% |
| Financial income | 75/76B | €21,316 | €23,939 | +€2,623 | +12.3% |
| Recurring financial income | 75 | €21,316 | €23,939 | +€2,623 | +12.3% |
| Financial charges | 65/66B | €20,066 | €18,287 | -€1,779 | -8.9% |
| Recurring financial charges | 65 | €20,066 | €18,287 | -€1,779 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €74,308 | €11,770 | -€62,538 | -84.2% |
| Income taxes | 67/77 | €21,408 | €7,627 | -€13,780 | -64.4% |
| Profit (loss) for the period | 9904 | €52,900 | €4,143 | -€48,757 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,900 | €4,143 | -€48,757 | -92.2% |
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 14 October 2026 via checked.be.