Warlop: what changed
What changed
Warlop
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€10,851
2024 · €32,506-€21,655
Equity
€202,973
2024 · €192,122+€10,851
Cash
€1
2024 · €1
Balance sheet total
€365,906
2024 · €410,002-€44,096
Largest movements
Assets
- Tangible fixed assets -€31,851
down €31,851 (-12.4%), from €257,205 to €225,354
of which Furniture and vehicles: -€18,802
- Receivables within one year -€18,248
down €18,248 (-29.6%), from €61,619 to €43,371
of which Trade receivables: -€16,466
- Deferred charges and accrued income +€13,115
up €13,115 (+14,194%), from €92 to €13,208
- Stocks and contracts -€7,113
down €7,113 (-7.8%), from €91,085 to €83,972
Equity and liabilities
- Current portion of long-term debt -€34,028
down €34,028 (-57.7%), from €58,966 to €24,938
- Trade debts -€19,964
down €19,964 (-36.9%), from €54,162 to €34,197
- Reserves +€10,851
up €10,851 (+6.3%), from €173,522 to €184,373
- Short-term financial debts +€6,985
up €6,985 (+27.9%), from €25,063 to €32,048
Income statement
- Gross operating margin -€75,167
down €75,167 (-30.9%), from €243,072 to €167,905
- Staff costs -€42,974
down €42,974 (-28.7%), from €149,498 to €106,525
- Taxes -€9,154
down €9,154 (-61.8%), from €14,818 to €5,664
- Write-downs -€4,771
no longer reported in 2025 (was €4,771)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€32,506
Gross operating margin
-€75,167
Staff costs
+€42,974
Depreciation
-€723
Write-downs
+€4,771
Other operating charges
-€419
Financial income
-€373
Financial charges
-€1,870
Taxes
+€9,154
Result 2025
€10,851
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€31,982
Investment
-€1,080
Financing
-€30,902
Cash 2024
€1
From operations (derived)
+€31,982
Net result for the year
+€10,851
Depreciation
+€32,931
Stocks and contracts
+€7,113
Receivables within one year
+€18,248
Deferred charges and accrued income
-€13,115
Trade debts
-€19,964
Tax, wage and social debts
-€2,103
Other debts
-€1,978
Investment (derived)
-€1,080
Investment in fixed assets (net)
-€1,080
Financing
-€30,902
Debts after one year
-€3,858
Current portion of long-term debt
-€34,028
Short-term financial debts
+€6,985
Cash 2025
€1
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €410,002 | €365,906 | -€44,096 | -10.8% |
| Fixed assets | 21/28 | €257,205 | €225,354 | -€31,851 | -12.4% |
| Tangible fixed assets | 22/27 | €257,205 | €225,354 | -€31,851 | -12.4% |
| Land and buildings | 22 | €150,796 | €149,989 | -€807 | -0.5% |
| Plant, machinery and equipment | 23 | €24,072 | €17,614 | -€6,458 | -26.8% |
| Furniture and vehicles | 24 | €76,553 | €57,751 | -€18,802 | -24.6% |
| Leasing and similar rights | 25 | €5,784 | - | -€5,784 | |
| Current assets | 29/58 | €152,797 | €140,552 | -€12,245 | -8.0% |
| Stocks and contracts in progress | 3 | €91,085 | €83,972 | -€7,113 | -7.8% |
| Stocks | 30/36 | €91,085 | €83,972 | -€7,113 | -7.8% |
| Amounts receivable within one year | 40/41 | €61,619 | €43,371 | -€18,248 | -29.6% |
| Trade receivables | 40 | €47,985 | €31,519 | -€16,466 | -34.3% |
| Other amounts receivable | 41 | €13,634 | €11,852 | -€1,782 | -13.1% |
| Cash at bank and in hand | 54/58 | €1 | €1 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €92 | €13,208 | +€13,115 | +14,194% |
| Total equity and liabilities | 10/49 | €410,002 | €365,906 | -€44,096 | -10.8% |
| Equity | 10/15 | €192,122 | €202,973 | +€10,851 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €173,522 | €184,373 | +€10,851 | +6.3% |
| Distributable reserves | 133 | €173,522 | €184,373 | +€10,851 | +6.3% |
| Amounts payable | 17/49 | €217,880 | €162,933 | -€54,947 | -25.2% |
| Amounts payable after more than one year | 17 | €58,106 | €54,248 | -€3,858 | -6.6% |
| Financial debts | 170/4 | €58,106 | €34,248 | -€23,858 | -41.1% |
| Other amounts payable | 178/9 | - | €20,000 | +€20,000 | |
| Amounts payable within one year | 42/48 | €159,774 | €108,686 | -€51,089 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €58,966 | €24,938 | -€34,028 | -57.7% |
| Financial debts | 43 | €25,063 | €32,048 | +€6,985 | +27.9% |
| Credit institutions | 430/8 | €25,063 | €32,048 | +€6,985 | +27.9% |
| Trade debts | 44 | €54,162 | €34,197 | -€19,964 | -36.9% |
| Suppliers | 440/4 | €54,162 | €34,197 | -€19,964 | -36.9% |
| Taxes, remuneration and social security | 45 | €5,629 | €3,526 | -€2,103 | -37.4% |
| Taxes | 450/3 | €3,629 | €1,526 | -€2,103 | -58.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €15,954 | €13,976 | -€1,978 | -12.4% |
| Non-recurring operating income | 76A | €8,142 | - | -€8,142 | |
| Remuneration, social security and pensions | 62 | €149,498 | €106,525 | -€42,974 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,207 | €32,931 | +€723 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,771 | - | -€4,771 | |
| Other operating charges | 640/8 | €3,015 | €3,435 | +€419 | +13.9% |
| Gross operating margin | 9900 | €243,072 | €167,905 | -€75,167 | -30.9% |
| Operating profit (loss) | 9901 | €53,580 | €25,015 | -€28,565 | -53.3% |
| Financial income | 75/76B | €1,643 | €1,269 | -€373 | -22.7% |
| Recurring financial income | 75 | €1,056 | €1,155 | +€98 | +9.3% |
| Non-recurring financial income | 76B | €586 | €115 | -€472 | -80.4% |
| Financial charges | 65/66B | €7,898 | €9,768 | +€1,870 | +23.7% |
| Recurring financial charges | 65 | €7,898 | €9,768 | +€1,870 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €47,324 | €16,515 | -€30,809 | -65.1% |
| Income taxes | 67/77 | €14,818 | €5,664 | -€9,154 | -61.8% |
| Profit (loss) for the period | 9904 | €32,506 | €10,851 | -€21,655 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,506 | €10,851 | -€21,655 | -66.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.