wArbor: 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.
wArbor
Largest movements
- Cash +€51,422
up €51,422 (+130.6%), from €39,387 to €90,809
mainly Net result for the year (+€32,205) and Depreciation (+€20,288)
- Tangible fixed assets -€17,332
down €17,332 (-32.7%), from €53,031 to €35,698
of which Furniture and vehicles: -€18,369
- Receivables within one year -€7,469
down €7,469 (-34.9%), from €21,414 to €13,945
of which Other amounts receivable: -€5,164
- Reserves +€32,205
up €32,205 (+64.7%), from €49,785 to €81,990
- Debts after one year -€6,457
down €6,457 (-32.0%), from €20,202 to €13,745
- Trade debts +€3,009
up €3,009 (+280.6%), from €1,073 to €4,082
- Tax, wage and social debts -€2,888
down €2,888 (-19.4%), from €14,913 to €12,025
of which Taxes: -€2,902
- Gross operating margin +€7,584
up €7,584 (+13.6%), from €55,786 to €63,369
- Depreciation -€5,253
down €5,253 (-20.6%), from €25,541 to €20,288
- Taxes +€2,474
up €2,474 (+39.6%), from €6,241 to €8,715
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 | €113,877 | €140,555 | +€26,678 | +23.4% |
| Fixed assets | 21/28 | €53,032 | €35,699 | -€17,332 | -32.7% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €53,031 | €35,698 | -€17,332 | -32.7% |
| Plant, machinery and equipment | 23 | €1,747 | €2,784 | +€1,037 | +59.3% |
| Furniture and vehicles | 24 | €51,284 | €32,915 | -€18,369 | -35.8% |
| Current assets | 29/58 | €60,846 | €104,856 | +€44,010 | +72.3% |
| Amounts receivable within one year | 40/41 | €21,414 | €13,945 | -€7,469 | -34.9% |
| Trade receivables | 40 | €16,249 | €13,945 | -€2,305 | -14.2% |
| Other amounts receivable | 41 | €5,164 | €0 | -€5,164 | -100.0% |
| Cash at bank and in hand | 54/58 | €39,387 | €90,809 | +€51,422 | +130.6% |
| Deferred charges and accrued income | 490/1 | €44 | €102 | +€57 | +129.0% |
| Total equity and liabilities | 10/49 | €113,877 | €140,555 | +€26,678 | +23.4% |
| Equity | 10/15 | €59,785 | €91,990 | +€32,205 | +53.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €49,785 | €81,990 | +€32,205 | +64.7% |
| Distributable reserves | 133 | €49,785 | €81,990 | +€32,205 | +64.7% |
| Amounts payable | 17/49 | €54,092 | €48,565 | -€5,527 | -10.2% |
| Amounts payable after more than one year | 17 | €20,202 | €13,745 | -€6,457 | -32.0% |
| Financial debts | 170/4 | €20,202 | €13,745 | -€6,457 | -32.0% |
| Amounts payable within one year | 42/48 | €33,877 | €34,806 | +€930 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €6,195 | €6,457 | +€262 | +4.2% |
| Trade debts | 44 | €1,073 | €4,082 | +€3,009 | +280.6% |
| Suppliers | 440/4 | €1,073 | €4,082 | +€3,009 | +280.6% |
| Advances received on contracts in progress | 46 | - | €324 | +€324 | |
| Taxes, remuneration and social security | 45 | €14,913 | €12,025 | -€2,888 | -19.4% |
| Taxes | 450/3 | €13,087 | €10,184 | -€2,902 | -22.2% |
| Remuneration and social security | 454/9 | €1,827 | €1,841 | +€14 | +0.8% |
| Other amounts payable | 47/48 | €11,696 | €11,919 | +€222 | +1.9% |
| Accrued charges and deferred income | 492/3 | €14 | €14 | +€0 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,541 | €20,288 | -€5,253 | -20.6% |
| Other operating charges | 640/8 | €854 | €1,114 | +€260 | +30.5% |
| Gross operating margin | 9900 | €55,786 | €63,369 | +€7,584 | +13.6% |
| Operating profit (loss) | 9901 | €29,391 | €41,967 | +€12,576 | +42.8% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €1,380 | €1,051 | -€329 | -23.9% |
| Recurring financial charges | 65 | €1,380 | €1,051 | -€329 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €28,011 | €40,921 | +€12,910 | +46.1% |
| Income taxes | 67/77 | €6,241 | €8,715 | +€2,474 | +39.6% |
| Profit (loss) for the period | 9904 | €21,770 | €32,205 | +€10,435 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,770 | €32,205 | +€10,435 | +47.9% |
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 12 October 2026 via checked.be.