Ludovic du BUS de WARNAFFE: 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.
Ludovic du BUS de WARNAFFE
Largest movements
- Cash -€131,908
down €131,908 (-83.0%), from €158,887 to €26,979
mainly Contributions, distributions and other (-€236,200) and Other debts (-€130,000)
- Financial fixed assets -€99,225
no longer reported in 2025 (was €99,225)
- Tangible fixed assets -€16,229
down €16,229 (-23.0%), from €70,633 to €54,404
- Other debts -€130,000
no longer reported in 2025 (was €130,000)
- Profit (loss) carried forward -€105,778
down €105,778 (-78.9%), from €134,064 to €28,286
- Debts after one year -€12,740
down €12,740 (-34.6%), from €36,872 to €24,133
- Financial income +€22,358
new in 2025: €22,358
of which Financial income: +€22,358
- Taxes +€10,551
up €10,551 (+30.3%), from €34,786 to €45,338
- Gross operating margin +€9,205
up €9,205 (+5.6%), from €164,409 to €173,613
- Turnover +€5,606
up €5,606 (+2.3%), from €244,428 to €250,035
- Other operating charges -€4,856
down €4,856 (-84.0%), from €5,784 to €928
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 | €328,745 | €81,383 | -€247,362 | -75.2% |
| Fixed assets | 21/28 | €169,858 | €54,404 | -€115,454 | -68.0% |
| Tangible fixed assets | 22/27 | €70,633 | €54,404 | -€16,229 | -23.0% |
| Furniture and vehicles | 24 | €70,633 | €54,404 | -€16,229 | -23.0% |
| Financial fixed assets | 28 | €99,225 | - | -€99,225 | |
| Current assets | 29/58 | €158,887 | €26,979 | -€131,908 | -83.0% |
| Cash at bank and in hand | 54/58 | €158,887 | €26,979 | -€131,908 | -83.0% |
| Total equity and liabilities | 10/49 | €328,745 | €81,383 | -€247,362 | -75.2% |
| Equity | 10/15 | €136,064 | €30,286 | -€105,778 | -77.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,064 | €28,286 | -€105,778 | -78.9% |
| Amounts payable | 17/49 | €192,681 | €51,097 | -€141,584 | -73.5% |
| Amounts payable after more than one year | 17 | €36,872 | €24,133 | -€12,740 | -34.6% |
| Financial debts | 170/4 | €36,872 | €24,133 | -€12,740 | -34.6% |
| Amounts payable within one year | 42/48 | €155,809 | €26,964 | -€128,844 | -82.7% |
| Current portion of amounts payable after more than one year | 42 | €8,776 | €10,953 | +€2,177 | +24.8% |
| Trade debts | 44 | €511 | - | -€511 | |
| Suppliers | 440/4 | €511 | - | -€511 | |
| Taxes, remuneration and social security | 45 | €16,522 | €16,012 | -€510 | -3.1% |
| Taxes | 450/3 | €16,522 | €16,012 | -€510 | -3.1% |
| Other amounts payable | 47/48 | €130,000 | - | -€130,000 | |
| Turnover | 70 | €244,428 | €250,035 | +€5,606 | +2.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €80,020 | €76,421 | -€3,599 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,947 | €17,701 | +€1,754 | +11.0% |
| Other operating charges | 640/8 | €5,784 | €928 | -€4,856 | -84.0% |
| Gross operating margin | 9900 | €164,409 | €173,613 | +€9,205 | +5.6% |
| Operating profit (loss) | 9901 | €142,677 | €154,985 | +€12,307 | +8.6% |
| Financial income | 75/76B | - | €22,358 | +€22,358 | |
| Recurring financial income | 75 | - | €22,358 | +€22,358 | |
| Non-recurring financial income | 76B | - | €22,358 | +€22,358 | |
| Financial charges | 65/66B | €1,790 | €1,583 | -€207 | -11.5% |
| Recurring financial charges | 65 | €1,790 | €1,583 | -€207 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €140,887 | €175,760 | +€34,872 | +24.8% |
| Income taxes | 67/77 | €34,786 | €45,338 | +€10,551 | +30.3% |
| Profit (loss) for the period | 9904 | €106,101 | €130,422 | +€24,321 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €106,101 | €130,422 | +€24,321 | +22.9% |
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 28 October 2026 via checked.be.