Waerenborg: 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.
Waerenborg
Largest movements
- Cash -€621,954
down €621,954 (-91.9%), from €676,616 to €54,661
mainly Contributions, distributions and other (-€748,000) and Receivables within one year (-€512,110)
- Receivables within one year +€512,110
up €512,110 (+67,164%), from €762 to €512,872
- Deferred charges and accrued income -€258,973
down €258,973 (-96.7%), from €267,746 to €8,773
- Other debts -€336,477
down €336,477 (-27.8%), from €1.2m to €872,508
- Trade debts -€37,085
no longer reported in 2025 (was €37,085)
- Financial income -€120,000
down €120,000 (-14.0%), from €855,000 to €735,000
- Gross operating margin +€17,014
up €17,014 (+199%), from €8,553 to €25,567
- Taxes +€4,445
up €4,445 (+1,553%), from €286 to €4,732
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 | €1,430,746 | €1,060,251 | -€370,495 | -25.9% |
| Fixed assets | 21/28 | €485,622 | €483,944 | -€1,678 | -0.3% |
| Tangible fixed assets | 22/27 | €19,346 | €17,668 | -€1,678 | -8.7% |
| Land and buildings | 22 | €19,346 | €17,668 | -€1,678 | -8.7% |
| Financial fixed assets | 28 | €466,276 | €466,276 | = | 0.0% |
| Current assets | 29/58 | €945,124 | €576,307 | -€368,817 | -39.0% |
| Amounts receivable within one year | 40/41 | €762 | €512,872 | +€512,110 | +67,164% |
| Other amounts receivable | 41 | €762 | €512,872 | +€512,110 | +67,164% |
| Cash at bank and in hand | 54/58 | €676,616 | €54,661 | -€621,954 | -91.9% |
| Deferred charges and accrued income | 490/1 | €267,746 | €8,773 | -€258,973 | -96.7% |
| Total equity and liabilities | 10/49 | €1,430,746 | €1,060,251 | -€370,495 | -25.9% |
| Equity | 10/15 | €184,389 | €184,725 | +€336 | +0.2% |
| Contributions | 10/11 | €105,355 | €105,355 | = | 0.0% |
| Capital | 10 | €105,355 | €105,355 | = | 0.0% |
| Issued capital | 100 | €105,355 | €105,355 | = | 0.0% |
| Reserves | 13 | €78,967 | €78,967 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,742 | €9,742 | = | 0.0% |
| Legal reserve | 130 | €9,742 | €9,742 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,860 | €64,860 | = | 0.0% |
| Distributable reserves | 133 | €4,365 | €4,365 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68 | €403 | +€336 | +496% |
| Amounts payable | 17/49 | €1,246,357 | €875,526 | -€370,831 | -29.8% |
| Amounts payable within one year | 42/48 | €1,246,357 | €875,526 | -€370,831 | -29.8% |
| Trade debts | 44 | €37,085 | - | -€37,085 | |
| Suppliers | 440/4 | €37,085 | - | -€37,085 | |
| Taxes, remuneration and social security | 45 | €286 | €3,018 | +€2,732 | +954% |
| Taxes | 450/3 | €286 | €3,018 | +€2,732 | +954% |
| Other amounts payable | 47/48 | €1,208,985 | €872,508 | -€336,477 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,678 | €1,678 | = | 0.0% |
| Other operating charges | 640/8 | €5,686 | €5,776 | +€90 | +1.6% |
| Gross operating margin | 9900 | €8,553 | €25,567 | +€17,014 | +199% |
| Operating profit (loss) | 9901 | €1,189 | €18,112 | +€16,924 | +1,424% |
| Financial income | 75/76B | €855,000 | €735,000 | -€120,000 | -14.0% |
| Recurring financial income | 75 | €855,000 | €735,000 | -€120,000 | -14.0% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.5% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €856,145 | €753,067 | -€103,078 | -12.0% |
| Income taxes | 67/77 | €286 | €4,732 | +€4,445 | +1,553% |
| Profit (loss) for the period | 9904 | €855,859 | €748,336 | -€107,523 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €855,859 | €748,336 | -€107,523 | -12.6% |
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 14 October 2026 via checked.be.