TechWolf: 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.
TechWolf
Largest movements
- Current investments -€14.2m
down €14.2m (-48.2%), from €29.3m to €15.2m
- Receivables within one year +€5.0m
up €5.0m (+67.7%), from €7.4m to €12.4m
of which Other amounts receivable: +€3.7m
- Cash +€1.9m
up €1.9m (+106.5%), from €1.8m to €3.7m
mainly Current investments (+€14.2m) and Accrued charges and deferred income (+€2.6m)
- Intangible fixed assets +€1.5m
up €1.5m (+63.5%), from €2.3m to €3.7m
- Deferred charges and accrued income +€1.3m
up €1.3m (+264.8%), from €492,452 to €1.8m
- Profit (loss) carried forward -€9.8m
down €9.8m (-77.2%), from -€12.7m to -€22.4m
- Accrued charges and deferred income +€2.6m
up €2.6m (+64.1%), from €4.0m to €6.5m
- Trade debts +€2.4m
up €2.4m (+49.9%), from €4.9m to €7.4m
- Purchases and services +€3.9m
up €3.9m (+37.8%), from €10.3m to €14.2m
- Turnover +€2.4m
up €2.4m (+38.9%), from €6.2m to €8.7m
- Staff costs +€2.0m
up €2.0m (+45.1%), from €4.5m to €6.5m
- Financial charges +€1.1m
up €1.1m (+1507.1%), from €71,515 to €1.1m
- Financial income +€396,590
up €396,590 (+51.2%), from €774,991 to €1.2m
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,172,262 | €37,605,614 | -€4.6m | -10.8% |
| Fixed assets | 21/28 | €3,103,762 | €4,416,452 | +€1.3m | +42.3% |
| Intangible fixed assets | 21 | €2,285,271 | €3,736,820 | +€1.5m | +63.5% |
| Tangible fixed assets | 22/27 | €571,596 | €422,067 | -€149,529 | -26.2% |
| Furniture and vehicles | 24 | €249,183 | €197,824 | -€51,358 | -20.6% |
| Other tangible fixed assets | 26 | €322,413 | €224,243 | -€98,171 | -30.4% |
| Financial fixed assets | 28 | €246,894 | €257,564 | +€10,670 | +4.3% |
| Current assets | 29/58 | €39,068,500 | €33,189,162 | -€5.9m | -15.0% |
| Amounts receivable after more than one year | 29 | €61,639 | €134,665 | +€73,025 | +118.5% |
| Other amounts receivable | 291 | €61,639 | €134,665 | +€73,025 | +118.5% |
| Amounts receivable within one year | 40/41 | €7,399,262 | €12,407,238 | +€5.0m | +67.7% |
| Trade receivables | 40 | €2,804,080 | €4,132,057 | +€1.3m | +47.4% |
| Other amounts receivable | 41 | €4,595,182 | €8,275,181 | +€3.7m | +80.1% |
| Current investments | 50/53 | €29,344,052 | €15,193,143 | -€14.2m | -48.2% |
| Cash at bank and in hand | 54/58 | €1,771,095 | €3,657,788 | +€1.9m | +106.5% |
| Deferred charges and accrued income | 490/1 | €492,452 | €1,796,328 | +€1.3m | +264.8% |
| Total equity and liabilities | 10/49 | €42,172,262 | €37,605,614 | -€4.6m | -10.8% |
| Equity | 10/15 | €27,985,844 | €18,258,923 | -€9.7m | -34.8% |
| Contributions | 10/11 | €40,642,766 | €40,688,491 | +€45,725 | +0.1% |
| Profit (loss) carried forward | 14 | -€12,656,922 | -€22,429,568 | -€9.8m | -77.2% |
| Amounts payable | 17/49 | €14,186,418 | €19,346,691 | +€5.2m | +36.4% |
| Amounts payable after more than one year | 17 | €4,721,984 | €4,619,905 | -€102,079 | -2.2% |
| Financial debts | 170/4 | €4,721,984 | €4,619,905 | -€102,079 | -2.2% |
| Amounts payable within one year | 42/48 | €5,478,384 | €8,185,329 | +€2.7m | +49.4% |
| Trade debts | 44 | €4,906,210 | €7,354,420 | +€2.4m | +49.9% |
| Suppliers | 440/4 | €4,906,210 | €7,354,420 | +€2.4m | +49.9% |
| Taxes, remuneration and social security | 45 | €572,174 | €830,909 | +€258,736 | +45.2% |
| Taxes | 450/3 | - | €60,601 | +€60,601 | |
| Remuneration and social security | 454/9 | €572,174 | €770,308 | +€198,135 | +34.6% |
| Accrued charges and deferred income | 492/3 | €3,986,050 | €6,541,457 | +€2.6m | +64.1% |
| Turnover | 70 | €6,246,004 | €8,675,980 | +€2.4m | +38.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €10,274,991 | €14,161,873 | +€3.9m | +37.8% |
| Remuneration, social security and pensions | 62 | €4,487,949 | €6,511,553 | +€2.0m | +45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €767,483 | €1,134,494 | +€367,011 | +47.8% |
| Other operating charges | 640/8 | €21,653 | €6,244 | -€15,409 | -71.2% |
| Non-recurring operating charges | 66A | €13,995 | €103 | -€13,891 | -99.3% |
| Gross operating margin | 9900 | -€2,201,472 | -€2,137,555 | +€63,916 | +2.9% |
| Operating profit (loss) | 9901 | -€7,492,551 | -€9,789,951 | -€2.3m | -30.7% |
| Financial income | 75/76B | €774,991 | €1,171,581 | +€396,590 | +51.2% |
| Recurring financial income | 75 | €774,991 | €1,171,581 | +€396,590 | +51.2% |
| Financial charges | 65/66B | €71,515 | €1,149,304 | +€1.1m | +1507.1% |
| Recurring financial charges | 65 | €71,515 | €1,149,304 | +€1.1m | +1507.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,789,075 | -€9,767,674 | -€3.0m | -43.9% |
| Income taxes | 67/77 | -€33,048 | €4,972 | +€38,020 | |
| Profit (loss) for the period | 9904 | -€6,756,027 | -€9,772,646 | -€3.0m | -44.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,756,027 | -€9,772,646 | -€3.0m | -44.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.