Studiebureel Wolfs: 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.
Studiebureel Wolfs
Largest movements
- Cash -€25,622
down €25,622 (-19.9%), from €128,964 to €103,342
mainly Contributions, distributions and other (-€134,000) and Current investments (-€11,398)
- Current investments +€11,398
up €11,398 (+11.8%), from €96,886 to €108,284
- Receivables within one year +€8,875
up €8,875 (+23.0%), from €38,669 to €47,544
of which Other amounts receivable: +€22,888
- Other debts +€131,767
up €131,767 (+5,900%), from €2,233 to €134,000
- Reserves -€127,719
down €127,719 (-56.4%), from €226,353 to €98,635
of which Distributable reserves: -€127,719
- Tax, wage and social debts -€11,346
down €11,346 (-35.9%), from €31,591 to €20,245
of which Taxes: -€10,196
- Taxes -€14,938
down €14,938 (-76.5%), from €19,526 to €4,588
- Gross operating margin -€7,627
down €7,627 (-40.5%), from €18,828 to €11,201
- Financial income -€5,313
down €5,313 (-71.8%), from €7,396 to €2,083
- Financial charges -€471
down €471 (-32.1%), from €1,465 to €994
- Other operating charges -€404
down €404 (-37.7%), from €1,072 to €668
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 | €272,234 | €264,202 | -€8,032 | -3.0% |
| Fixed assets | 21/28 | €2,433 | €1,681 | -€752 | -30.9% |
| Tangible fixed assets | 22/27 | €2,433 | €1,681 | -€752 | -30.9% |
| Plant, machinery and equipment | 23 | €1,499 | €1,102 | -€397 | -26.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €935 | €579 | -€356 | -38.1% |
| Current assets | 29/58 | €269,801 | €262,521 | -€7,280 | -2.7% |
| Amounts receivable within one year | 40/41 | €38,669 | €47,544 | +€8,875 | +23.0% |
| Trade receivables | 40 | €38,582 | €24,569 | -€14,013 | -36.3% |
| Other amounts receivable | 41 | €87 | €22,975 | +€22,888 | +26,326% |
| Current investments | 50/53 | €96,886 | €108,284 | +€11,398 | +11.8% |
| Cash at bank and in hand | 54/58 | €128,964 | €103,342 | -€25,622 | -19.9% |
| Deferred charges and accrued income | 490/1 | €5,282 | €3,352 | -€1,931 | -36.6% |
| Total equity and liabilities | 10/49 | €272,234 | €264,202 | -€8,032 | -3.0% |
| Equity | 10/15 | €232,553 | €104,835 | -€127,719 | -54.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €226,353 | €98,635 | -€127,719 | -56.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €226,353 | €98,635 | -€127,719 | -56.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €39,681 | €159,367 | +€119,686 | +302% |
| Amounts payable within one year | 42/48 | €39,681 | €159,367 | +€119,686 | +302% |
| Trade debts | 44 | €5,857 | €5,122 | -€735 | -12.5% |
| Suppliers | 440/4 | €5,857 | €5,122 | -€735 | -12.5% |
| Taxes, remuneration and social security | 45 | €31,591 | €20,245 | -€11,346 | -35.9% |
| Taxes | 450/3 | €30,191 | €19,995 | -€10,196 | -33.8% |
| Remuneration and social security | 454/9 | €1,400 | €250 | -€1,150 | -82.1% |
| Other amounts payable | 47/48 | €2,233 | €134,000 | +€131,767 | +5,900% |
| Non-recurring operating income | 76A | €11,397 | - | -€11,397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €752 | €752 | = | 0.0% |
| Other operating charges | 640/8 | €1,072 | €668 | -€404 | -37.7% |
| Gross operating margin | 9900 | €18,828 | €11,201 | -€7,627 | -40.5% |
| Operating profit (loss) | 9901 | €17,004 | €9,781 | -€7,223 | -42.5% |
| Financial income | 75/76B | €7,396 | €2,083 | -€5,313 | -71.8% |
| Recurring financial income | 75 | €7,396 | €2,083 | -€5,313 | -71.8% |
| Financial charges | 65/66B | €1,465 | €994 | -€471 | -32.1% |
| Recurring financial charges | 65 | €1,465 | €994 | -€471 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €22,935 | €10,870 | -€12,065 | -52.6% |
| Income taxes | 67/77 | €19,526 | €4,588 | -€14,938 | -76.5% |
| Profit (loss) for the period | 9904 | €3,409 | €6,281 | +€2,873 | +84.3% |
| Transfer from tax-exempt reserves | 789 | €28,000 | €0 | -€28,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €31,409 | €6,281 | -€25,127 | -80.0% |
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 15 October 2026 via checked.be.