M.L. WARNY: 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.
M.L. WARNY
Largest movements
- Receivables within one year -€2,370
down €2,370 (-73.6%), from €3,220 to €850
- Stocks and contracts +€1,775
up €1,775 (+8.8%), from €20,234 to €22,009
- Deferred charges and accrued income +€789
up €789 (+830.5%), from €95 to €884
- Profit (loss) carried forward +€7,561
up €7,561 (+18.0%), from -€42,079 to -€34,518
- Trade debts -€4,465
down €4,465 (-81.1%), from €5,506 to €1,041
- Advances received -€1,000
no longer reported in 2025 (was €1,000)
- Tax, wage and social debts -€982
down €982 (-23.5%), from €4,173 to €3,191
of which Taxes: -€1,008
- Accrued charges and deferred income -€750
no longer reported in 2025 (was €750)
- Gross operating margin +€5,397
up €5,397 (+18.8%), from €28,737 to €34,134
- Financial charges +€354
up €354 (+95.2%), from €372 to €726
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 | €24,283 | €24,292 | +€9 | 0.0% |
| Fixed assets | 21/28 | €25 | €25 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €24,258 | €24,267 | +€9 | 0.0% |
| Stocks and contracts in progress | 3 | €20,234 | €22,009 | +€1,775 | +8.8% |
| Stocks | 30/36 | €20,234 | €22,009 | +€1,775 | +8.8% |
| Amounts receivable within one year | 40/41 | €3,220 | €850 | -€2,370 | -73.6% |
| Trade receivables | 40 | €3,220 | €850 | -€2,370 | -73.6% |
| Cash at bank and in hand | 54/58 | €709 | €524 | -€185 | -26.1% |
| Deferred charges and accrued income | 490/1 | €95 | €884 | +€789 | +830.5% |
| Total equity and liabilities | 10/49 | €24,283 | €24,292 | +€9 | 0.0% |
| Equity | 10/15 | -€21,620 | -€14,059 | +€7,561 | +35.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,079 | -€34,518 | +€7,561 | +18.0% |
| Amounts payable | 17/49 | €45,903 | €38,351 | -€7,552 | -16.5% |
| Amounts payable within one year | 42/48 | €45,153 | €38,351 | -€6,802 | -15.1% |
| Trade debts | 44 | €5,506 | €1,041 | -€4,465 | -81.1% |
| Suppliers | 440/4 | €5,506 | €1,041 | -€4,465 | -81.1% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €4,173 | €3,191 | -€982 | -23.5% |
| Taxes | 450/3 | €1,941 | €933 | -€1,008 | -51.9% |
| Remuneration and social security | 454/9 | €2,232 | €2,258 | +€26 | +1.2% |
| Other amounts payable | 47/48 | €34,474 | €34,119 | -€355 | -1.0% |
| Accrued charges and deferred income | 492/3 | €750 | - | -€750 | |
| Remuneration, social security and pensions | 62 | €25,299 | €25,351 | +€52 | +0.2% |
| Other operating charges | 640/8 | €813 | €508 | -€305 | -37.5% |
| Gross operating margin | 9900 | €28,737 | €34,134 | +€5,397 | +18.8% |
| Operating profit (loss) | 9901 | €2,625 | €8,275 | +€5,650 | +215.2% |
| Financial income | 75/76B | €12 | €12 | = | 0.0% |
| Recurring financial income | 75 | €12 | €12 | = | 0.0% |
| Financial charges | 65/66B | €372 | €726 | +€354 | +95.2% |
| Recurring financial charges | 65 | €372 | €726 | +€354 | +95.2% |
| Profit (loss) for the period before taxes | 9903 | €2,265 | €7,561 | +€5,296 | +233.8% |
| Profit (loss) for the period | 9904 | €2,265 | €7,561 | +€5,296 | +233.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,265 | €7,561 | +€5,296 | +233.8% |
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 6 October 2026 via checked.be.