THE WAREHOUSE: 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.
THE WAREHOUSE
Largest movements
- Cash -€42,239
down €42,239 (-66.1%), from €63,886 to €21,646
mainly Net result for the year (-€53,864) and Trade debts (-€20,492)
- Tangible fixed assets -€27,134
down €27,134 (-35.4%), from €76,616 to €49,481
- Deferred charges and accrued income -€6,491
down €6,491 (-91.1%), from €7,122 to €631
- Stocks and contracts -€3,354
down €3,354 (-18.2%), from €18,463 to €15,109
- Profit (loss) carried forward -€53,864
down €53,864 (-43.9%), from -€122,576 to -€176,441
- Trade debts -€20,492
down €20,492 (-53.5%), from €38,277 to €17,785
- Tax, wage and social debts -€7,922
down €7,922 (-26.7%), from €29,638 to €21,716
of which Remuneration and social security: -€7,417
- Advances received +€3,740
up €3,740 (+172%), from €2,174 to €5,914
- Gross operating margin -€31,963
down €31,963 (-12.1%), from €263,532 to €231,569
- Staff costs -€20,757
down €20,757 (-7.5%), from €275,270 to €254,513
- Financial charges -€11,564
down €11,564 (-77.1%), from €14,992 to €3,429
- Financial income -€3,438
down €3,438 (-71.5%), from €4,810 to €1,372
of which Financial income: -€3,438
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 | €175,600 | €97,061 | -€78,539 | -44.7% |
| Fixed assets | 21/28 | €76,616 | €49,481 | -€27,134 | -35.4% |
| Tangible fixed assets | 22/27 | €76,616 | €49,481 | -€27,134 | -35.4% |
| Land and buildings | 22 | €30,413 | €18,640 | -€11,773 | -38.7% |
| Plant, machinery and equipment | 23 | €37,401 | €25,838 | -€11,563 | -30.9% |
| Furniture and vehicles | 24 | €8,802 | €5,003 | -€3,799 | -43.2% |
| Current assets | 29/58 | €98,984 | €47,580 | -€51,404 | -51.9% |
| Stocks and contracts in progress | 3 | €18,463 | €15,109 | -€3,354 | -18.2% |
| Stocks | 30/36 | €18,463 | €15,109 | -€3,354 | -18.2% |
| Amounts receivable within one year | 40/41 | €9,514 | €10,194 | +€680 | +7.2% |
| Trade receivables | 40 | €3,980 | €7,830 | +€3,850 | +96.7% |
| Other amounts receivable | 41 | €5,534 | €2,365 | -€3,169 | -57.3% |
| Cash at bank and in hand | 54/58 | €63,886 | €21,646 | -€42,239 | -66.1% |
| Deferred charges and accrued income | 490/1 | €7,122 | €631 | -€6,491 | -91.1% |
| Total equity and liabilities | 10/49 | €175,600 | €97,061 | -€78,539 | -44.7% |
| Equity | 10/15 | -€103,976 | -€157,841 | -€53,864 | -51.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,576 | -€176,441 | -€53,864 | -43.9% |
| Amounts payable | 17/49 | €279,576 | €254,902 | -€24,674 | -8.8% |
| Amounts payable within one year | 42/48 | €279,576 | €254,902 | -€24,674 | -8.8% |
| Trade debts | 44 | €38,277 | €17,785 | -€20,492 | -53.5% |
| Suppliers | 440/4 | €38,277 | €17,785 | -€20,492 | -53.5% |
| Advances received on contracts in progress | 46 | €2,174 | €5,914 | +€3,740 | +172% |
| Taxes, remuneration and social security | 45 | €29,638 | €21,716 | -€7,922 | -26.7% |
| Taxes | 450/3 | €4,358 | €3,853 | -€505 | -11.6% |
| Remuneration and social security | 454/9 | €25,280 | €17,863 | -€7,417 | -29.3% |
| Other amounts payable | 47/48 | €209,487 | €209,487 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €275,270 | €254,513 | -€20,757 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,286 | €27,134 | -€152 | -0.6% |
| Other operating charges | 640/8 | €2,325 | €1,730 | -€596 | -25.6% |
| Gross operating margin | 9900 | €263,532 | €231,569 | -€31,963 | -12.1% |
| Operating profit (loss) | 9901 | -€41,350 | -€51,808 | -€10,458 | -25.3% |
| Financial income | 75/76B | €4,810 | €1,372 | -€3,438 | -71.5% |
| Recurring financial income | 75 | €4,810 | €1,372 | -€3,438 | -71.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €14,992 | €3,429 | -€11,564 | -77.1% |
| Recurring financial charges | 65 | €14,992 | €3,429 | -€11,564 | -77.1% |
| Profit (loss) for the period before taxes | 9903 | -€51,532 | -€53,864 | -€2,333 | -4.5% |
| Profit (loss) for the period | 9904 | -€51,532 | -€53,864 | -€2,333 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,532 | -€53,864 | -€2,333 | -4.5% |
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 13 October 2026 via checked.be.