WAFFLES & CHORIZO: what changed
WAFFLES & CHORIZO
Largest movements
- Receivables within one year -€14,425
down €14,425 (-56.0%), from €25,764 to €11,339
of which Other amounts receivable: -€10,169
- Deferred charges and accrued income +€3,294
up €3,294 (+737%), from €447 to €3,741
- Cash +€2,819
up €2,819 (+8.1%), from €34,666 to €37,485
mainly Net result for the year (+€38,936) and Other debts (+€24,000)
- Tangible fixed assets -€1,298
down €1,298 (-8.1%), from €15,946 to €14,648
of which Furniture and vehicles: -€1,320
- Other debts +€24,000
up €24,000 (+114%), from €21,000 to €45,000
- Trade debts -€10,660
down €10,660 (-82.3%), from €12,954 to €2,293
- Tax, wage and social debts -€8,003
down €8,003 (-99.9%), from €8,013 to €10
- Reserves -€6,064
down €6,064 (-84.8%), from €7,148 to €1,084
- Short-term financial debts -€5,908
no longer reported in 2025 (was €5,908)
- Gross operating margin +€17,721
up €17,721 (+40.4%), from €43,862 to €61,583
- Taxes +€3,704
up €3,704 (+47.9%), from €7,736 to €11,440
- Write-downs +€3,517
new in 2025: €3,517
- Financial charges -€3,354
down €3,354 (-40.1%), from €8,356 to €5,002
- Financial income -€984
down €984 (-43.1%), from €2,283 to €1,299
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 | €76,823 | €67,212 | -€9,610 | -12.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €15,946 | €14,648 | -€1,298 | -8.1% |
| Tangible fixed assets | 22/27 | €15,946 | €14,648 | -€1,298 | -8.1% |
| Plant, machinery and equipment | 23 | €1,667 | €2,963 | +€1,296 | +77.8% |
| Furniture and vehicles | 24 | €1,980 | €660 | -€1,320 | -66.7% |
| Other tangible fixed assets | 26 | €12,299 | €11,025 | -€1,274 | -10.4% |
| Current assets | 29/58 | €60,877 | €52,564 | -€8,312 | -13.7% |
| Amounts receivable within one year | 40/41 | €25,764 | €11,339 | -€14,425 | -56.0% |
| Trade receivables | 40 | €4,256 | - | -€4,256 | |
| Other amounts receivable | 41 | €21,508 | €11,339 | -€10,169 | -47.3% |
| Cash at bank and in hand | 54/58 | €34,666 | €37,485 | +€2,819 | +8.1% |
| Deferred charges and accrued income | 490/1 | €447 | €3,741 | +€3,294 | +737% |
| Total equity and liabilities | 10/49 | €76,823 | €67,212 | -€9,610 | -12.5% |
| Equity | 10/15 | €25,748 | €19,684 | -€6,064 | -23.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,148 | €1,084 | -€6,064 | -84.8% |
| Distributable reserves | 133 | €7,148 | €1,084 | -€6,064 | -84.8% |
| Amounts payable | 17/49 | €51,075 | €47,528 | -€3,546 | -6.9% |
| Amounts payable within one year | 42/48 | €47,875 | €47,303 | -€571 | -1.2% |
| Financial debts | 43 | €5,908 | - | -€5,908 | |
| Credit institutions | 430/8 | €5,908 | - | -€5,908 | |
| Trade debts | 44 | €12,954 | €2,293 | -€10,660 | -82.3% |
| Suppliers | 440/4 | €12,954 | €2,293 | -€10,660 | -82.3% |
| Taxes, remuneration and social security | 45 | €8,013 | €10 | -€8,003 | -99.9% |
| Taxes | 450/3 | €8,013 | €10 | -€8,003 | -99.9% |
| Other amounts payable | 47/48 | €21,000 | €45,000 | +€24,000 | +114% |
| Accrued charges and deferred income | 492/3 | €3,200 | €225 | -€2,975 | -93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,018 | €2,952 | -€67 | -2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,517 | +€3,517 | |
| Other operating charges | 640/8 | €936 | €1,035 | +€100 | +10.7% |
| Gross operating margin | 9900 | €43,862 | €61,583 | +€17,721 | +40.4% |
| Operating profit (loss) | 9901 | €39,908 | €54,079 | +€14,171 | +35.5% |
| Financial income | 75/76B | €2,283 | €1,299 | -€984 | -43.1% |
| Recurring financial income | 75 | €2,283 | €1,299 | -€984 | -43.1% |
| Financial charges | 65/66B | €8,356 | €5,002 | -€3,354 | -40.1% |
| Recurring financial charges | 65 | €8,356 | €5,002 | -€3,354 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €33,835 | €50,376 | +€16,541 | +48.9% |
| Income taxes | 67/77 | €7,736 | €11,440 | +€3,704 | +47.9% |
| Profit (loss) for the period | 9904 | €26,099 | €38,936 | +€12,837 | +49.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,099 | €38,936 | +€12,837 | +49.2% |
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 6 November 2026 via checked.be.