WARLOCK: 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.
WARLOCK
Largest movements
- Tangible fixed assets +€1.4m
up €1.4m (+45.0%), from €3.2m to €4.6m
of which Land and buildings: +€1.4m
- Debts after one year +€812,873
up €812,873 (+37.8%), from €2.2m to €3.0m
- Other debts +€807,397
up €807,397 (+60.5%), from €1.3m to €2.1m
- Profit (loss) carried forward -€244,253
down €244,253 (-88.6%), from -€275,789 to -€520,042
- Depreciation +€58,060
up €58,060 (+117.4%), from €49,444 to €107,504
- Financial charges +€56,349
up €56,349 (+87.9%), from €64,097 to €120,446
- Gross operating margin -€7,046
down €7,046 (-197.9%), from -€3,561 to -€10,607
- Other operating charges +€2,915
up €2,915 (+104.8%), from €2,782 to €5,697
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 | €3,284,523 | €4,688,182 | +€1.4m | +42.7% |
| Fixed assets | 21/28 | €3,187,276 | €4,621,535 | +€1.4m | +45.0% |
| Tangible fixed assets | 22/27 | €3,187,276 | €4,621,535 | +€1.4m | +45.0% |
| Land and buildings | 22 | €3,170,425 | €4,608,675 | +€1.4m | +45.4% |
| Plant, machinery and equipment | 23 | €16,852 | €12,860 | -€3,991 | -23.7% |
| Current assets | 29/58 | €97,247 | €66,648 | -€30,599 | -31.5% |
| Amounts receivable within one year | 40/41 | €37,500 | €0 | -€37,500 | -100.0% |
| Trade receivables | 40 | €37,500 | €0 | -€37,500 | -100.0% |
| Cash at bank and in hand | 54/58 | €59,747 | €66,648 | +€6,901 | +11.6% |
| Total equity and liabilities | 10/49 | €3,284,523 | €4,688,182 | +€1.4m | +42.7% |
| Equity | 10/15 | -€274,789 | -€519,042 | -€244,253 | -88.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€275,789 | -€520,042 | -€244,253 | -88.6% |
| Amounts payable | 17/49 | €3,559,312 | €5,207,225 | +€1.6m | +46.3% |
| Amounts payable after more than one year | 17 | €2,151,235 | €2,964,108 | +€812,873 | +37.8% |
| Financial debts | 170/4 | €2,151,235 | €2,964,108 | +€812,873 | +37.8% |
| Amounts payable within one year | 42/48 | €1,408,078 | €2,243,116 | +€835,039 | +59.3% |
| Current portion of amounts payable after more than one year | 42 | €74,154 | €101,497 | +€27,343 | +36.9% |
| Trade debts | 44 | €0 | €25 | +€25 | |
| Suppliers | 440/4 | €0 | €25 | +€25 | |
| Taxes, remuneration and social security | 45 | - | €273 | +€273 | |
| Taxes | 450/3 | - | €273 | +€273 | |
| Other amounts payable | 47/48 | €1,333,924 | €2,141,321 | +€807,397 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,444 | €107,504 | +€58,060 | +117.4% |
| Other operating charges | 640/8 | €2,782 | €5,697 | +€2,915 | +104.8% |
| Gross operating margin | 9900 | -€3,561 | -€10,607 | -€7,046 | -197.9% |
| Operating profit (loss) | 9901 | -€55,786 | -€123,807 | -€68,021 | -121.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €64,097 | €120,446 | +€56,349 | +87.9% |
| Recurring financial charges | 65 | €64,097 | €120,446 | +€56,349 | +87.9% |
| Profit (loss) for the period before taxes | 9903 | -€119,882 | -€244,253 | -€124,371 | -103.7% |
| Profit (loss) for the period | 9904 | -€119,882 | -€244,253 | -€124,371 | -103.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€119,882 | -€244,253 | -€124,371 | -103.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.