WARDIAN: 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.
WARDIAN
Largest movements
- Tangible fixed assets +€67,233
up €67,233 (+138.6%), from €48,509 to €115,742
of which Furniture and vehicles: +€71,539
- Debts after one year +€45,418
up €45,418 (+277.6%), from €16,359 to €61,777
- Other debts +€35,709
up €35,709 (+51.2%), from €69,804 to €105,513
- Reserves -€25,386
down €25,386 (-28.6%), from €88,726 to €63,340
- Current portion of long-term debt +€12,839
up €12,839 (+138.7%), from €9,256 to €22,095
- Tax, wage and social debts +€5,120
up €5,120, from €0 to €5,120
of which Remuneration and social security: +€2,631
- Depreciation +€5,423
up €5,423 (+30.0%), from €18,066 to €23,489
- Taxes -€2,467
down €2,467 (-28.1%), from €8,776 to €6,308
- Gross operating margin +€1,472
up €1,472 (+3.1%), from €47,547 to €49,019
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 | €203,717 | €276,550 | +€72,832 | +35.8% |
| Fixed assets | 21/28 | €48,509 | €115,742 | +€67,233 | +138.6% |
| Tangible fixed assets | 22/27 | €48,509 | €115,742 | +€67,233 | +138.6% |
| Plant, machinery and equipment | 23 | €1,511 | €1,114 | -€397 | -26.3% |
| Furniture and vehicles | 24 | €31,896 | €103,435 | +€71,539 | +224.3% |
| Other tangible fixed assets | 26 | €15,102 | €11,194 | -€3,909 | -25.9% |
| Current assets | 29/58 | €155,208 | €160,807 | +€5,599 | +3.6% |
| Amounts receivable within one year | 40/41 | €14,570 | €15,882 | +€1,311 | +9.0% |
| Trade receivables | 40 | €12,483 | €12,190 | -€293 | -2.3% |
| Other amounts receivable | 41 | €2,088 | €3,692 | +€1,604 | +76.8% |
| Cash at bank and in hand | 54/58 | €137,919 | €139,933 | +€2,015 | +1.5% |
| Deferred charges and accrued income | 490/1 | €2,719 | €4,992 | +€2,273 | +83.6% |
| Total equity and liabilities | 10/49 | €203,717 | €276,550 | +€72,832 | +35.8% |
| Equity | 10/15 | €107,326 | €81,940 | -€25,386 | -23.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €88,726 | €63,340 | -€25,386 | -28.6% |
| Distributable reserves | 133 | €88,726 | €63,340 | -€25,386 | -28.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €96,392 | €194,610 | +€98,218 | +101.9% |
| Amounts payable after more than one year | 17 | €16,359 | €61,777 | +€45,418 | +277.6% |
| Financial debts | 170/4 | €16,359 | €61,777 | +€45,418 | +277.6% |
| Amounts payable within one year | 42/48 | €80,033 | €132,834 | +€52,800 | +66.0% |
| Current portion of amounts payable after more than one year | 42 | €9,256 | €22,095 | +€12,839 | +138.7% |
| Financial debts | 43 | €833 | €0 | -€833 | -100.0% |
| Credit institutions | 430/8 | €833 | €0 | -€833 | -100.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €140 | €105 | -€34 | -24.6% |
| Suppliers | 440/4 | €140 | €105 | -€34 | -24.6% |
| Taxes, remuneration and social security | 45 | €0 | €5,120 | +€5,120 | |
| Taxes | 450/3 | €0 | €2,489 | +€2,489 | |
| Remuneration and social security | 454/9 | - | €2,631 | +€2,631 | |
| Other amounts payable | 47/48 | €69,804 | €105,513 | +€35,709 | +51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,066 | €23,489 | +€5,423 | +30.0% |
| Other operating charges | 640/8 | €950 | €967 | +€17 | +1.8% |
| Gross operating margin | 9900 | €47,547 | €49,019 | +€1,472 | +3.1% |
| Operating profit (loss) | 9901 | €28,531 | €24,563 | -€3,968 | -13.9% |
| Financial income | 75/76B | €55 | €10 | -€45 | -82.5% |
| Recurring financial income | 75 | €55 | €10 | -€45 | -82.5% |
| Financial charges | 65/66B | €1,394 | €924 | -€469 | -33.7% |
| Recurring financial charges | 65 | €1,394 | €924 | -€469 | -33.7% |
| Profit (loss) for the period before taxes | 9903 | €27,192 | €23,648 | -€3,544 | -13.0% |
| Income taxes | 67/77 | €8,776 | €6,308 | -€2,467 | -28.1% |
| Profit (loss) for the period | 9904 | €18,416 | €17,340 | -€1,077 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,416 | €17,340 | -€1,077 | -5.8% |
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.