NICO WARNEZ: what changed
NICO WARNEZ
Largest movements
- Receivables within one year -€17,765
down €17,765 (-19.6%), from €90,548 to €72,783
of which Trade receivables: -€12,778
- Tangible fixed assets +€9,827
up €9,827 (+52.5%), from €18,714 to €28,541
of which Furniture and vehicles: +€13,302
- Cash -€3,802
down €3,802 (-46.7%), from €8,151 to €4,348
mainly Net result for the year (-€22,287) and Investment in fixed assets (net) (-€15,000)
- Profit (loss) carried forward -€22,287
down €22,287 (-73.5%), from -€30,321 to -€52,609
- Debts after one year +€11,500
up €11,500 (+298%), from €3,858 to €15,358
- Tax, wage and social debts +€5,415
up €5,415 (+243%), from €2,232 to €7,648
of which Remuneration and social security: +€2,757
- Trade debts -€2,961
down €2,961 (-2.9%), from €101,071 to €98,109
- Other debts -€2,102
down €2,102 (-57.2%), from €3,678 to €1,576
- Gross operating margin -€12,763
down €12,763 (-8.8%), from €145,551 to €132,788
- Staff costs +€2,947
up €2,947 (+2.1%), from €143,521 to €146,467
- Depreciation +€1,462
up €1,462 (+39.4%), from €3,711 to €5,173
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,917 | €137,482 | -€10,436 | -7.1% |
| Fixed assets | 21/28 | €22,899 | €32,726 | +€9,827 | +42.9% |
| Tangible fixed assets | 22/27 | €18,714 | €28,541 | +€9,827 | +52.5% |
| Plant, machinery and equipment | 23 | €8,375 | €6,289 | -€2,086 | -24.9% |
| Furniture and vehicles | 24 | €1,917 | €15,219 | +€13,302 | +694% |
| Other tangible fixed assets | 26 | €8,422 | €7,033 | -€1,389 | -16.5% |
| Financial fixed assets | 28 | €4,185 | €4,185 | = | 0.0% |
| Current assets | 29/58 | €125,018 | €104,755 | -€20,263 | -16.2% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €90,548 | €72,783 | -€17,765 | -19.6% |
| Trade receivables | 40 | €85,309 | €72,531 | -€12,778 | -15.0% |
| Other amounts receivable | 41 | €5,239 | €252 | -€4,987 | -95.2% |
| Cash at bank and in hand | 54/58 | €8,151 | €4,348 | -€3,802 | -46.7% |
| Deferred charges and accrued income | 490/1 | €6,320 | €7,624 | +€1,304 | +20.6% |
| Total equity and liabilities | 10/49 | €147,917 | €137,482 | -€10,436 | -7.1% |
| Equity | 10/15 | €37,079 | €14,791 | -€22,287 | -60.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €55,000 | €55,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,050 | €1,050 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,050 | €1,050 | = | 0.0% |
| Distributable reserves | 133 | €53,950 | €53,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,321 | -€52,609 | -€22,287 | -73.5% |
| Amounts payable | 17/49 | €110,839 | €122,690 | +€11,852 | +10.7% |
| Amounts payable after more than one year | 17 | €3,858 | €15,358 | +€11,500 | +298% |
| Other amounts payable | 178/9 | €3,858 | €15,358 | +€11,500 | +298% |
| Amounts payable within one year | 42/48 | €106,981 | €107,333 | +€352 | +0.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €101,071 | €98,109 | -€2,961 | -2.9% |
| Suppliers | 440/4 | €101,071 | €98,109 | -€2,961 | -2.9% |
| Taxes, remuneration and social security | 45 | €2,232 | €7,648 | +€5,415 | +243% |
| Taxes | 450/3 | €1,481 | €4,140 | +€2,658 | +179% |
| Remuneration and social security | 454/9 | €751 | €3,508 | +€2,757 | +367% |
| Other amounts payable | 47/48 | €3,678 | €1,576 | -€2,102 | -57.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €143,521 | €146,467 | +€2,947 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,711 | €5,173 | +€1,462 | +39.4% |
| Other operating charges | 640/8 | €1,060 | €1,029 | -€32 | -3.0% |
| Gross operating margin | 9900 | €145,551 | €132,788 | -€12,763 | -8.8% |
| Operating profit (loss) | 9901 | -€2,741 | -€19,881 | -€17,140 | -625% |
| Financial income | 75/76B | €604 | €520 | -€84 | -14.0% |
| Recurring financial income | 75 | €604 | €520 | -€84 | -14.0% |
| Financial charges | 65/66B | €1,883 | €2,926 | +€1,043 | +55.4% |
| Recurring financial charges | 65 | €1,883 | €2,926 | +€1,043 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,020 | -€22,287 | -€18,268 | -454% |
| Profit (loss) for the period | 9904 | -€4,020 | -€22,287 | -€18,268 | -454% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,020 | -€22,287 | -€18,268 | -454% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.