WARMAR: 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.
WARMAR
Largest movements
- Tangible fixed assets +€31,857
up €31,857 (+84.7%), from €37,605 to €69,462
of which Furniture and vehicles: +€38,637
- Receivables within one year +€4,000
up €4,000 (+27.5%), from €14,519 to €18,519
of which Trade receivables: +€10,053
- Cash +€1,898
up €1,898 (+7.0%), from €27,000 to €28,898
mainly Depreciation (+€21,313) and Net result for the year (+€19,429)
- Current portion of long-term debt +€11,477
up €11,477 (+1236.7%), from €928 to €12,405
- Debts after one year +€11,396
up €11,396 (+66.9%), from €17,033 to €28,429
- Reserves +€6,718
up €6,718 (+11.8%), from €56,871 to €63,588
- Trade debts +€4,354
up €4,354 (+256.8%), from €1,696 to €6,050
- Tax, wage and social debts +€3,250
new in 2025: €3,250
- Gross operating margin +€23,555
up €23,555 (+85.6%), from €27,510 to €51,065
- Depreciation +€8,464
up €8,464 (+65.9%), from €12,848 to €21,313
- Taxes +€3,144
up €3,144 (+76.6%), from €4,106 to €7,250
- Financial charges +€1,176
up €1,176 (+134.1%), from €877 to €2,053
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 | €84,445 | €122,043 | +€37,598 | +44.5% |
| Fixed assets | 21/28 | €38,805 | €70,662 | +€31,857 | +82.1% |
| Tangible fixed assets | 22/27 | €37,605 | €69,462 | +€31,857 | +84.7% |
| Plant, machinery and equipment | 23 | €15,208 | €8,428 | -€6,779 | -44.6% |
| Furniture and vehicles | 24 | €22,397 | €61,034 | +€38,637 | +172.5% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €45,641 | €51,381 | +€5,741 | +12.6% |
| Stocks and contracts in progress | 3 | €183 | €53 | -€130 | -70.9% |
| Stocks | 30/36 | €183 | €53 | -€130 | -70.9% |
| Amounts receivable within one year | 40/41 | €14,519 | €18,519 | +€4,000 | +27.5% |
| Trade receivables | 40 | €659 | €10,712 | +€10,053 | +1526.3% |
| Other amounts receivable | 41 | €13,860 | €7,807 | -€6,053 | -43.7% |
| Cash at bank and in hand | 54/58 | €27,000 | €28,898 | +€1,898 | +7.0% |
| Deferred charges and accrued income | 490/1 | €3,938 | €3,912 | -€27 | -0.7% |
| Total equity and liabilities | 10/49 | €84,445 | €122,043 | +€37,598 | +44.5% |
| Equity | 10/15 | €63,071 | €69,788 | +€6,718 | +10.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €56,871 | €63,588 | +€6,718 | +11.8% |
| Distributable reserves | 133 | €56,871 | €63,588 | +€6,718 | +11.8% |
| Amounts payable | 17/49 | €21,375 | €52,255 | +€30,880 | +144.5% |
| Amounts payable after more than one year | 17 | €17,033 | €28,429 | +€11,396 | +66.9% |
| Financial debts | 170/4 | €17,033 | €28,429 | +€11,396 | +66.9% |
| Amounts payable within one year | 42/48 | €4,342 | €23,826 | +€19,485 | +448.8% |
| Current portion of amounts payable after more than one year | 42 | €928 | €12,405 | +€11,477 | +1236.7% |
| Trade debts | 44 | €1,696 | €6,050 | +€4,354 | +256.8% |
| Suppliers | 440/4 | €1,696 | €6,050 | +€4,354 | +256.8% |
| Taxes, remuneration and social security | 45 | - | €3,250 | +€3,250 | |
| Taxes | 450/3 | - | €3,250 | +€3,250 | |
| Other amounts payable | 47/48 | €1,718 | €2,121 | +€403 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,848 | €21,313 | +€8,464 | +65.9% |
| Other operating charges | 640/8 | €1,022 | €1,024 | +€2 | +0.1% |
| Gross operating margin | 9900 | €27,510 | €51,065 | +€23,555 | +85.6% |
| Operating profit (loss) | 9901 | €13,640 | €28,729 | +€15,089 | +110.6% |
| Financial income | 75/76B | €1 | €4 | +€3 | +289.1% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +289.1% |
| Financial charges | 65/66B | €877 | €2,053 | +€1,176 | +134.1% |
| Recurring financial charges | 65 | €877 | €2,053 | +€1,176 | +134.1% |
| Profit (loss) for the period before taxes | 9903 | €12,764 | €26,680 | +€13,916 | +109.0% |
| Income taxes | 67/77 | €4,106 | €7,250 | +€3,144 | +76.6% |
| Profit (loss) for the period | 9904 | €8,657 | €19,429 | +€10,772 | +124.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,657 | €19,429 | +€10,772 | +124.4% |
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 5 October 2026 via checked.be.