WAREXCO: 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.
WAREXCO
Largest movements
- Current investments +€72,791
up €72,791 (+17.3%), from €421,879 to €494,670
- Cash -€18,192
down €18,192 (-27.5%), from €66,111 to €47,919
mainly Current investments (-€72,791) and Contributions, distributions and other (-€61,766)
- Deferred charges and accrued income +€14,329
up €14,329 (+257.8%), from €5,559 to €19,889
- Receivables within one year +€14,121
up €14,121 (+12.6%), from €112,166 to €126,286
of which Trade receivables: +€13,002
- Reserves +€72,517
up €72,517 (+17.4%), from €416,463 to €488,980
- Other debts +€17,498
up €17,498 (+41.4%), from €42,254 to €59,752
- Gross operating margin +€47,152
up €47,152 (+21.9%), from €215,105 to €262,257
- Taxes +€11,399
up €11,399 (+25.4%), from €44,927 to €56,326
- Write-downs +€9,413
new in 2024: €9,413
- Staff costs +€4,773
up €4,773 (+11.3%), from €42,412 to €47,185
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €644,239 | €722,752 | +€78,513 | +12.2% |
| Fixed assets | 21/28 | €38,524 | €33,988 | -€4,536 | -11.8% |
| Tangible fixed assets | 22/27 | €38,280 | €33,744 | -€4,536 | -11.8% |
| Land and buildings | 22 | €15,966 | €13,926 | -€2,040 | -12.8% |
| Plant, machinery and equipment | 23 | €20,766 | €14,021 | -€6,745 | -32.5% |
| Furniture and vehicles | 24 | €1,548 | €5,797 | +€4,250 | +274.5% |
| Financial fixed assets | 28 | €244 | €244 | = | 0.0% |
| Current assets | 29/58 | €605,715 | €688,764 | +€83,049 | +13.7% |
| Amounts receivable within one year | 40/41 | €112,166 | €126,286 | +€14,121 | +12.6% |
| Trade receivables | 40 | €111,680 | €124,683 | +€13,002 | +11.6% |
| Other amounts receivable | 41 | €486 | €1,604 | +€1,118 | +230.3% |
| Current investments | 50/53 | €421,879 | €494,670 | +€72,791 | +17.3% |
| Cash at bank and in hand | 54/58 | €66,111 | €47,919 | -€18,192 | -27.5% |
| Deferred charges and accrued income | 490/1 | €5,559 | €19,889 | +€14,329 | +257.8% |
| Total equity and liabilities | 10/49 | €644,239 | €722,752 | +€78,513 | +12.2% |
| Equity | 10/15 | €435,063 | €507,580 | +€72,517 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €416,463 | €488,980 | +€72,517 | +17.4% |
| Distributable reserves | 133 | €416,463 | €488,980 | +€72,517 | +17.4% |
| Amounts payable | 17/49 | €209,176 | €215,172 | +€5,996 | +2.9% |
| Amounts payable within one year | 42/48 | €209,147 | €211,172 | +€2,025 | +1.0% |
| Financial debts | 43 | €226 | €134 | -€91 | -40.4% |
| Credit institutions | 430/8 | €226 | €134 | -€91 | -40.4% |
| Trade debts | 44 | €7,520 | €2,275 | -€5,245 | -69.8% |
| Suppliers | 440/4 | €7,520 | €2,275 | -€5,245 | -69.8% |
| Advances received on contracts in progress | 46 | €112,414 | €108,076 | -€4,338 | -3.9% |
| Taxes, remuneration and social security | 45 | €46,734 | €40,935 | -€5,799 | -12.4% |
| Taxes | 450/3 | €39,705 | €34,625 | -€5,080 | -12.8% |
| Remuneration and social security | 454/9 | €7,029 | €6,310 | -€719 | -10.2% |
| Other amounts payable | 47/48 | €42,254 | €59,752 | +€17,498 | +41.4% |
| Accrued charges and deferred income | 492/3 | €29 | €4,000 | +€3,971 | +13847.0% |
| Remuneration, social security and pensions | 62 | €42,412 | €47,185 | +€4,773 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,246 | €11,134 | -€1,112 | -9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,413 | +€9,413 | |
| Other operating charges | 640/8 | €2,151 | €2,950 | +€799 | +37.2% |
| Gross operating margin | 9900 | €215,105 | €262,257 | +€47,152 | +21.9% |
| Operating profit (loss) | 9901 | €158,296 | €191,575 | +€33,279 | +21.0% |
| Financial income | 75/76B | €550 | €1,245 | +€695 | +126.3% |
| Recurring financial income | 75 | €550 | €1,245 | +€695 | +126.3% |
| Financial charges | 65/66B | €1,976 | €2,211 | +€234 | +11.9% |
| Recurring financial charges | 65 | €1,976 | €2,211 | +€234 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €156,870 | €190,609 | +€33,739 | +21.5% |
| Income taxes | 67/77 | €44,927 | €56,326 | +€11,399 | +25.4% |
| Profit (loss) for the period | 9904 | €111,943 | €134,283 | +€22,339 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €111,943 | €134,283 | +€22,339 | +20.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.