WARANDE: 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.
WARANDE
Largest movements
- Receivables within one year +€470,318
up €470,318 (+31355.0%), from €1,500 to €471,818
- Tangible fixed assets -€51,494
down €51,494 (-4.0%), from €1.3m to €1.2m
of which Land and buildings: -€36,344
- Profit (loss) carried forward +€208,708
up €208,708 (+4391.5%), from €4,752 to €213,460
- Reserves +€164,374
up €164,374 (+771.8%), from €21,298 to €185,672
- Tax, wage and social debts +€86,458
new in 2025: €86,458
- Gross operating margin +€467,864
up €467,864 (+14552.0%), from €3,215 to €471,079
- Taxes +€92,513
new in 2025: €92,513
- Turnover -€35,264
no longer reported in 2025 (was €35,264)
- Purchases and services -€32,049
no longer reported in 2025 (was €32,049)
- Financial income +€25,775
up €25,775 (+1896.2%), from €1,359 to €27,134
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.
Cash bridge derived
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 | €1,902,678 | €2,352,806 | +€450,127 | +23.7% |
| Fixed assets | 21/28 | €1,292,849 | €1,241,355 | -€51,494 | -4.0% |
| Tangible fixed assets | 22/27 | €1,292,179 | €1,240,685 | -€51,494 | -4.0% |
| Land and buildings | 22 | €1,219,687 | €1,183,343 | -€36,344 | -3.0% |
| Other tangible fixed assets | 26 | €72,492 | €57,342 | -€15,150 | -20.9% |
| Financial fixed assets | 28 | €670 | €670 | = | 0.0% |
| Current assets | 29/58 | €609,829 | €1,111,451 | +€501,622 | +82.3% |
| Amounts receivable within one year | 40/41 | €1,500 | €471,818 | +€470,318 | +31355.0% |
| Other amounts receivable | 41 | €1,500 | €471,818 | +€470,318 | +31355.0% |
| Current investments | 50/53 | €343,915 | €357,566 | +€13,651 | +4.0% |
| Cash at bank and in hand | 54/58 | €232,517 | €240,108 | +€7,591 | +3.3% |
| Deferred charges and accrued income | 490/1 | €31,897 | €41,958 | +€10,061 | +31.5% |
| Total equity and liabilities | 10/49 | €1,902,678 | €2,352,806 | +€450,127 | +23.7% |
| Equity | 10/15 | €1,882,773 | €2,255,855 | +€373,082 | +19.8% |
| Contributions | 10/11 | €1,856,723 | €1,856,723 | = | 0.0% |
| Capital | 10 | €1,856,723 | €1,856,723 | = | 0.0% |
| Issued capital | 100 | €1,856,723 | €1,856,723 | = | 0.0% |
| Reserves | 13 | €21,298 | €185,672 | +€164,374 | +771.8% |
| Non-distributable reserves | 130/1 | €21,298 | €185,672 | +€164,374 | +771.8% |
| Legal reserve | 130 | €21,298 | €185,672 | +€164,374 | +771.8% |
| Profit (loss) carried forward | 14 | €4,752 | €213,460 | +€208,708 | +4391.5% |
| Amounts payable | 17/49 | €19,905 | €96,950 | +€77,045 | +387.1% |
| Amounts payable within one year | 42/48 | €19,905 | €96,950 | +€77,045 | +387.1% |
| Trade debts | 44 | €1,270 | €10,492 | +€9,222 | +726.2% |
| Suppliers | 440/4 | €1,270 | €10,492 | +€9,222 | +726.2% |
| Taxes, remuneration and social security | 45 | - | €86,458 | +€86,458 | |
| Taxes | 450/3 | - | €86,458 | +€86,458 | |
| Other amounts payable | 47/48 | €18,635 | - | -€18,635 | |
| Turnover | 70 | €35,264 | - | -€35,264 | |
| Non-recurring operating income | 76A | - | €449,011 | +€449,011 | |
| Goods, raw materials, services and sundry goods | 60/61 | €32,049 | - | -€32,049 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,615 | €15,851 | -€764 | -4.6% |
| Other operating charges | 640/8 | €9,435 | €13,607 | +€4,171 | +44.2% |
| Gross operating margin | 9900 | €3,215 | €471,079 | +€467,864 | +14552.0% |
| Operating profit (loss) | 9901 | -€22,835 | €441,622 | +€464,457 | |
| Financial income | 75/76B | €1,359 | €27,134 | +€25,775 | +1896.2% |
| Recurring financial income | 75 | €1,359 | €27,134 | +€25,775 | +1896.2% |
| Financial charges | 65/66B | €7,033 | €3,161 | -€3,872 | -55.1% |
| Recurring financial charges | 65 | €7,033 | €3,161 | -€3,872 | -55.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,509 | €465,595 | +€494,104 | |
| Income taxes | 67/77 | - | €92,513 | +€92,513 | |
| Profit (loss) for the period | 9904 | -€28,509 | €373,082 | +€401,591 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,509 | €373,082 | +€401,591 |
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 11 October 2026 via checked.be.