IDES DE WULF: 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.
IDES DE WULF
Largest movements
- Tangible fixed assets +€24,516
up €24,516 (+68.9%), from €35,608 to €60,125
of which Plant, machinery and equipment: +€35,992
- Receivables within one year -€6,988
down €6,988 (-3.7%), from €187,169 to €180,182
of which Trade receivables: -€7,647
- Deferred charges and accrued income +€5,046
up €5,046 (+115%), from €4,396 to €9,442
- Other debts +€29,534
up €29,534 (+14.4%), from €205,551 to €235,085
- Trade debts +€10,175
up €10,175 (+50.8%), from €20,018 to €30,193
- Debts after one year -€7,686
down €7,686 (-24.9%), from €30,917 to €23,230
- Current portion of long-term debt -€7,069
down €7,069 (-47.9%), from €14,755 to €7,686
- Profit (loss) carried forward +€5,916
up €5,916 (+5.9%), from -€100,214 to -€94,298
- Staff costs -€8,470
down €8,470 (-19.3%), from €43,842 to €35,372
- Write-downs +€4,270
up €4,270, from -€4,270 to €0
- Financial charges -€3,030
down €3,030 (-27.2%), from €11,150 to €8,119
- Other operating charges +€2,864
up €2,864 (+48.3%), from €5,924 to €8,787
- Depreciation +€2,655
up €2,655 (+20.7%), from €12,828 to €15,484
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 | €251,628 | €274,282 | +€22,654 | +9.0% |
| Fixed assets | 21/28 | €41,163 | €65,680 | +€24,516 | +59.6% |
| Tangible fixed assets | 22/27 | €35,608 | €60,125 | +€24,516 | +68.9% |
| Plant, machinery and equipment | 23 | €9,284 | €45,276 | +€35,992 | +388% |
| Furniture and vehicles | 24 | €26,325 | €14,849 | -€11,475 | -43.6% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €5,555 | €5,555 | = | 0.0% |
| Current assets | 29/58 | €210,465 | €208,603 | -€1,862 | -0.9% |
| Stocks and contracts in progress | 3 | €17,987 | €18,942 | +€955 | +5.3% |
| Stocks | 30/36 | €17,987 | €18,942 | +€955 | +5.3% |
| Amounts receivable within one year | 40/41 | €187,169 | €180,182 | -€6,988 | -3.7% |
| Trade receivables | 40 | €184,263 | €176,616 | -€7,647 | -4.1% |
| Other amounts receivable | 41 | €2,906 | €3,565 | +€659 | +22.7% |
| Cash at bank and in hand | 54/58 | €913 | €37 | -€876 | -96.0% |
| Deferred charges and accrued income | 490/1 | €4,396 | €9,442 | +€5,046 | +115% |
| Total equity and liabilities | 10/49 | €251,628 | €274,282 | +€22,654 | +9.0% |
| Equity | 10/15 | -€80,242 | -€74,326 | +€5,916 | +7.4% |
| Contributions | 10/11 | €18,900 | €18,900 | = | 0.0% |
| Reserves | 13 | €1,072 | €1,072 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,072 | €1,072 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€100,214 | -€94,298 | +€5,916 | +5.9% |
| Amounts payable | 17/49 | €331,870 | €348,608 | +€16,738 | +5.0% |
| Amounts payable after more than one year | 17 | €30,917 | €23,230 | -€7,686 | -24.9% |
| Financial debts | 170/4 | €30,917 | €23,230 | -€7,686 | -24.9% |
| Amounts payable within one year | 42/48 | €294,762 | €324,096 | +€29,334 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €14,755 | €7,686 | -€7,069 | -47.9% |
| Financial debts | 43 | €50,490 | €49,843 | -€648 | -1.3% |
| Credit institutions | 430/8 | €50,490 | €49,843 | -€648 | -1.3% |
| Trade debts | 44 | €20,018 | €30,193 | +€10,175 | +50.8% |
| Suppliers | 440/4 | €20,018 | €30,193 | +€10,175 | +50.8% |
| Taxes, remuneration and social security | 45 | €3,948 | €1,289 | -€2,659 | -67.3% |
| Taxes | 450/3 | €1,099 | €630 | -€469 | -42.7% |
| Remuneration and social security | 454/9 | €2,849 | €659 | -€2,190 | -76.9% |
| Other amounts payable | 47/48 | €205,551 | €235,085 | +€29,534 | +14.4% |
| Accrued charges and deferred income | 492/3 | €6,191 | €1,282 | -€4,909 | -79.3% |
| Remuneration, social security and pensions | 62 | €43,842 | €35,372 | -€8,470 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,828 | €15,484 | +€2,655 | +20.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,270 | €0 | +€4,270 | |
| Other operating charges | 640/8 | €5,924 | €8,787 | +€2,864 | +48.3% |
| Gross operating margin | 9900 | €72,289 | €73,037 | +€748 | +1.0% |
| Operating profit (loss) | 9901 | €13,965 | €13,394 | -€571 | -4.1% |
| Financial income | 75/76B | €0 | €881 | +€881 | +2,202,625% |
| Recurring financial income | 75 | €0 | €881 | +€881 | +2,202,625% |
| Financial charges | 65/66B | €11,150 | €8,119 | -€3,030 | -27.2% |
| Recurring financial charges | 65 | €11,150 | €8,119 | -€3,030 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €2,815 | €6,156 | +€3,340 | +119% |
| Income taxes | 67/77 | €226 | €240 | +€14 | +6.1% |
| Profit (loss) for the period | 9904 | €2,589 | €5,916 | +€3,327 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €2,589 | €5,916 | +€3,327 | +128% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.