Ward: 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.
Ward
Largest movements
- Receivables within one year -€918,787
down €918,787 (-49.4%), from €1.9m to €942,062
of which Other amounts receivable: -€918,880
- Cash +€274,442
up €274,442 (+127%), from €215,758 to €490,199
mainly Receivables within one year (+€918,787) and Current investments (+€269,154)
- Current investments -€269,154
down €269,154 (-40.3%), from €668,539 to €399,385
- Tangible fixed assets -€125,077
down €125,077 (-5.6%), from €2.2m to €2.1m
of which Land and buildings: -€129,128
- Other debts -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Gross operating margin -€3.6m
down €3.6m (-99.6%), from €3.6m to €14,359
- Taxes -€642,591
down €642,591 (-99.9%), from €643,041 to €449
- Financial charges +€131,874
up €131,874, from -€127,176 to €4,699
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 | €5,510,701 | €4,447,881 | -€1.1m | -19.3% |
| Fixed assets | 21/28 | €2,233,428 | €2,108,351 | -€125,077 | -5.6% |
| Tangible fixed assets | 22/27 | €2,227,740 | €2,102,663 | -€125,077 | -5.6% |
| Land and buildings | 22 | €2,227,740 | €2,098,613 | -€129,128 | -5.8% |
| Plant, machinery and equipment | 23 | €0 | €4,051 | +€4,051 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €5,688 | €5,688 | = | 0.0% |
| Current assets | 29/58 | €3,277,273 | €2,339,530 | -€937,743 | -28.6% |
| Amounts receivable after more than one year | 29 | €530,943 | €506,278 | -€24,665 | -4.6% |
| Other amounts receivable | 291 | €530,943 | €506,278 | -€24,665 | -4.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,860,849 | €942,062 | -€918,787 | -49.4% |
| Trade receivables | 40 | €50 | €143 | +€93 | +186% |
| Other amounts receivable | 41 | €1,860,799 | €941,919 | -€918,880 | -49.4% |
| Current investments | 50/53 | €668,539 | €399,385 | -€269,154 | -40.3% |
| Cash at bank and in hand | 54/58 | €215,758 | €490,199 | +€274,442 | +127% |
| Deferred charges and accrued income | 490/1 | €1,184 | €1,606 | +€421 | +35.6% |
| Total equity and liabilities | 10/49 | €5,510,701 | €4,447,881 | -€1.1m | -19.3% |
| Equity | 10/15 | €4,222,923 | €4,228,165 | +€5,242 | +0.1% |
| Contributions | 10/11 | €966,785 | €966,785 | = | 0.0% |
| Capital | 10 | €966,785 | €966,785 | = | 0.0% |
| Issued capital | 100 | €966,785 | €966,785 | = | 0.0% |
| Reserves | 13 | €3,256,138 | €3,261,380 | +€5,242 | +0.2% |
| Non-distributable reserves | 130/1 | €96,678 | €96,678 | = | 0.0% |
| Legal reserve | 130 | €96,678 | €96,678 | = | 0.0% |
| Tax-exempt reserves | 132 | €469,492 | €387,637 | -€81,855 | -17.4% |
| Distributable reserves | 133 | €2,689,968 | €2,777,065 | +€87,097 | +3.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €156,497 | €129,212 | -€27,285 | -17.4% |
| Deferred taxes | 168 | €156,497 | €129,212 | -€27,285 | -17.4% |
| Amounts payable | 17/49 | €1,131,281 | €90,504 | -€1.0m | -92.0% |
| Amounts payable within one year | 42/48 | €1,131,281 | €90,504 | -€1.0m | -92.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €94,306 | €90,161 | -€4,145 | -4.4% |
| Suppliers | 440/4 | €94,306 | €90,161 | -€4,145 | -4.4% |
| Taxes, remuneration and social security | 45 | €36,975 | €343 | -€36,632 | -99.1% |
| Taxes | 450/3 | €36,975 | €343 | -€36,632 | -99.1% |
| Other amounts payable | 47/48 | €1,000,000 | €0 | -€1.0m | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,699 | €129,489 | +€10,790 | +9.1% |
| Other operating charges | 640/8 | €13,219 | €18,949 | +€5,730 | +43.3% |
| Gross operating margin | 9900 | €3,603,001 | €14,359 | -€3.6m | -99.6% |
| Operating profit (loss) | 9901 | €3,471,083 | -€134,080 | -€3.6m | |
| Financial income | 75/76B | €91,517 | €117,185 | +€25,668 | +28.0% |
| Recurring financial income | 75 | €91,517 | €117,185 | +€25,668 | +28.0% |
| Financial charges | 65/66B | -€127,176 | €4,699 | +€131,874 | |
| Recurring financial charges | 65 | -€127,176 | €4,699 | +€131,874 | |
| Profit (loss) for the period before taxes | 9903 | €3,689,775 | -€21,594 | -€3.7m | |
| Transfer from deferred taxes | 780 | €27,285 | €27,285 | = | 0.0% |
| Income taxes | 67/77 | €643,041 | €449 | -€642,591 | -99.9% |
| Profit (loss) for the period | 9904 | €3,074,020 | €5,242 | -€3.1m | -99.8% |
| Transfer from tax-exempt reserves | 789 | €81,855 | €81,855 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,155,875 | €87,097 | -€3.1m | -97.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.