Warcoing: what changed
Two fiscal 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.
What changed
Warcoing
NACE 46.216, Wholesale of agricultural produce and animal feed, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€278,450
2024 · €287,614-€9,164
Equity
€6.9m
2024 · €7.2m-€305,610
Cash
€465,791
2024 · €1.9m-€1.5m
Balance sheet total
€8.1m
2024 · €8.3m-€166,496
Largest movements
Assets
- Cash -€1.5m
down €1.5m (-76.1%), from €1.9m to €465,791
mainly Receivables within one year (-€1.5m) and Contributions, distributions and other (-€584,060)
- Receivables within one year +€1.5m
up €1.5m (+1001.7%), from €145,734 to €1.6m
of which Other amounts receivable: +€1.5m
- Tangible fixed assets -€147,727
down €147,727 (-2.5%), from €5.8m to €5.7m
Equity and liabilities
- Profit (loss) carried forward -€299,610
down €299,610 (-21.5%), from €1.4m to €1.1m
- Current portion of long-term debt +€166,770
up €166,770 (+95.4%), from €174,804 to €341,574
Income statement
- Turnover -€228,171
down €228,171 (-8.1%), from €2.8m to €2.6m
- Services and other goods -€213,796
down €213,796 (-19.9%), from €1.1m to €858,746
- Staff costs +€67,737
up €67,737 (+24.6%), from €274,896 to €342,633
- Other operating income +€52,463
up €52,463 (+26.0%), from €201,543 to €254,006
- Financial income +€36,491
up €36,491 (+261.3%), from €13,963 to €50,453
of which Non-recurring financial income: +€21,500
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.
Result 2024
€287,614
Turnover
-€228,171
Other operating income
+€52,463
Goods and materials
-€24,257
Services and other goods
+€213,796
Staff costs
-€67,737
Depreciation
-€16,839
Other operating charges
+€1,780
Other operating items
+€39,594
Financial income
+€36,491
Financial charges
+€1,367
Taxes
-€17,650
Result 2025
€278,450
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.
From operations
-€1.0m
Investment
-€72,471
Financing
-€381,394
Cash 2024
€1.9m
From operations (derived)
-€1.0m
Net result for the year
+€278,450
Depreciation
+€227,694
Stocks and contracts
-€9,032
Receivables within one year
-€1.5m
Smaller working-capital items
-€2,010
Trade debts
-€9,602
Tax, wage and social debts
+€14,862
Other debts
-€66,812
Investment (derived)
-€72,471
Investment in fixed assets (net)
-€72,471
Financing
-€381,394
Debts after one year
+€35,896
Current portion of long-term debt
+€166,770
Contributions, distributions and other
-€584,060
Cash 2025
€465,791
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,259,706 | €8,093,210 | -€166,496 | -2.0% |
| Fixed assets | 21/28 | €5,881,534 | €5,726,310 | -€155,223 | -2.6% |
| Tangible fixed assets | 22/27 | €5,807,584 | €5,659,856 | -€147,727 | -2.5% |
| Land and buildings | 22 | €5,231,737 | €5,194,290 | -€37,447 | -0.7% |
| Plant, machinery and equipment | 23 | €140,745 | €157,937 | +€17,192 | +12.2% |
| Furniture and vehicles | 24 | €278,932 | €205,780 | -€73,152 | -26.2% |
| Leasing and similar rights | 25 | €156,170 | €101,850 | -€54,320 | -34.8% |
| Financial fixed assets | 28 | €73,950 | €66,454 | -€7,496 | -10.1% |
| Affiliated companies | 280/1 | €7,496 | - | -€7,496 | |
| Participating interests | 280 | €7,496 | - | -€7,496 | |
| Other financial fixed assets | 284/8 | €66,454 | €66,454 | = | 0.0% |
| Shares | 284 | €66,454 | €66,454 | = | 0.0% |
| Current assets | 29/58 | €2,378,173 | €2,366,900 | -€11,273 | -0.5% |
| Stocks and contracts in progress | 3 | €271,397 | €280,429 | +€9,032 | +3.3% |
| Stocks | 30/36 | €271,397 | €280,429 | +€9,032 | +3.3% |
| Raw materials and consumables | 30/31 | €88,402 | €95,359 | +€6,957 | +7.9% |
| Work in progress | 32 | €182,995 | €185,070 | +€2,075 | +1.1% |
| Amounts receivable within one year | 40/41 | €145,734 | €1,605,609 | +€1.5m | +1001.7% |
| Trade receivables | 40 | €72,972 | €39,493 | -€33,478 | -45.9% |
| Other amounts receivable | 41 | €72,762 | €1,566,115 | +€1.5m | +2052.4% |
| Cash at bank and in hand | 54/58 | €1,945,980 | €465,791 | -€1.5m | -76.1% |
| Deferred charges and accrued income | 490/1 | €15,062 | €15,072 | +€10 | +0.1% |
| Total equity and liabilities | 10/49 | €8,259,706 | €8,093,210 | -€166,496 | -2.0% |
| Equity | 10/15 | €7,174,328 | €6,868,718 | -€305,610 | -4.3% |
| Contributions | 10/11 | €134,999 | €134,999 | = | 0.0% |
| Capital | 10 | €125,355 | €125,355 | = | 0.0% |
| Issued capital | 100 | €125,355 | €125,355 | = | 0.0% |
| Outside capital | 11 | €9,644 | €9,644 | = | 0.0% |
| Share premium | 1100/10 | €9,644 | €9,644 | = | 0.0% |
| Reserves | 13 | €5,643,188 | €5,637,188 | -€6,000 | -0.1% |
| Non-distributable reserves | 130/1 | €15,248 | €15,248 | = | 0.0% |
| Legal reserve | 130 | €12,536 | €12,536 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,712 | €2,712 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,021,432 | €1,015,432 | -€6,000 | -0.6% |
| Distributable reserves | 133 | €4,606,508 | €4,606,508 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,396,141 | €1,096,531 | -€299,610 | -21.5% |
| Provisions and deferred taxes | 16 | €7,792 | €5,792 | -€2,000 | -25.7% |
| Deferred taxes | 168 | €7,792 | €5,792 | -€2,000 | -25.7% |
| Amounts payable | 17/49 | €1,077,586 | €1,218,700 | +€141,114 | +13.1% |
| Amounts payable after more than one year | 17 | €396,788 | €432,684 | +€35,896 | +9.0% |
| Financial debts | 170/4 | €256,788 | €432,684 | +€175,896 | +68.5% |
| Leasing and similar obligations | 172 | €116,788 | €65,184 | -€51,604 | -44.2% |
| Credit institutions | 173 | €140,000 | €367,500 | +€227,500 | +162.5% |
| Other amounts payable | 178/9 | €140,000 | - | -€140,000 | |
| Amounts payable within one year | 42/48 | €680,798 | €786,016 | +€105,218 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €174,804 | €341,574 | +€166,770 | +95.4% |
| Trade debts | 44 | €338,733 | €329,131 | -€9,602 | -2.8% |
| Suppliers | 440/4 | €338,733 | €329,131 | -€9,602 | -2.8% |
| Taxes, remuneration and social security | 45 | €58,449 | €73,311 | +€14,862 | +25.4% |
| Taxes | 450/3 | €17,678 | €19,040 | +€1,362 | +7.7% |
| Remuneration and social security | 454/9 | €40,771 | €54,271 | +€13,500 | +33.1% |
| Other amounts payable | 47/48 | €108,812 | €42,000 | -€66,812 | -61.4% |
| Operating income | 70/76A | €2,975,991 | €2,839,877 | -€136,114 | -4.6% |
| Turnover | 70 | €2,811,967 | €2,583,796 | -€228,171 | -8.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€37,519 | €2,075 | +€39,594 | |
| Other operating income | 74 | €201,543 | €254,006 | +€52,463 | +26.0% |
| Operating charges | 60/66A | €2,589,195 | €2,482,453 | -€106,742 | -4.1% |
| Goods for resale, raw materials and consumables | 60 | €970,468 | €994,725 | +€24,257 | +2.5% |
| Purchases | 600/8 | €838,656 | €1,001,681 | +€163,025 | +19.4% |
| Change in stocks: decrease (increase) | 609 | €131,812 | -€6,957 | -€138,768 | |
| Services and other goods | 61 | €1,072,542 | €858,746 | -€213,796 | -19.9% |
| Remuneration, social security and pensions | 62 | €274,896 | €342,633 | +€67,737 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,855 | €227,694 | +€16,839 | +8.0% |
| Other operating charges | 640/8 | €60,434 | €58,655 | -€1,780 | -2.9% |
| Operating profit (loss) | 9901 | €386,796 | €357,424 | -€29,372 | -7.6% |
| Financial income | 75/76B | €13,963 | €50,453 | +€36,491 | +261.3% |
| Recurring financial income | 75 | €3,963 | €18,953 | +€14,991 | +378.3% |
| Income from financial fixed assets | 750 | €2,446 | €18,953 | +€16,507 | +674.8% |
| Income from current assets | 751 | €1,517 | - | -€1,517 | |
| Non-recurring financial income | 76B | €10,000 | €31,500 | +€21,500 | +215.0% |
| Financial charges | 65/66B | €10,768 | €9,401 | -€1,367 | -12.7% |
| Recurring financial charges | 65 | €10,768 | €9,401 | -€1,367 | -12.7% |
| Debt charges | 650 | €9,206 | €7,146 | -€2,060 | -22.4% |
| Other financial charges | 652/9 | €1,562 | €2,254 | +€692 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €389,991 | €398,477 | +€8,486 | +2.2% |
| Income taxes | 67/77 | €102,378 | €120,027 | +€17,650 | +17.2% |
| Taxes | 670/3 | €102,378 | €120,027 | +€17,650 | +17.2% |
| Profit (loss) for the period | 9904 | €287,614 | €278,450 | -€9,164 | -3.2% |
| Transfer from tax-exempt reserves | 789 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €295,614 | €286,450 | -€9,164 | -3.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.