WARMSTONE: 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.
WARMSTONE
Largest movements
- Tangible fixed assets +€31,946
up €31,946 (+33.9%), from €94,124 to €126,071
of which Furniture and vehicles: +€34,939
- Receivables within one year +€5,051
up €5,051 (+112.5%), from €4,491 to €9,542
of which Other amounts receivable: +€6,313
- Cash +€3,609
up €3,609 (+93.7%), from €3,853 to €7,463
mainly Debts after one year (+€24,144) and Other debts (+€10,726)
- Debts after one year +€24,144
up €24,144 (+18.6%), from €129,497 to €153,641
of which Financial debts: +€24,144
- Other debts +€10,726
up €10,726 (+179.7%), from €5,968 to €16,694
- Current portion of long-term debt +€6,607
up €6,607 (+179.2%), from €3,687 to €10,294
- Gross operating margin +€15,563
up €15,563, from -€5,713 to €9,851
- Financial charges +€146
up €146 (+11.2%), from €1,308 to €1,455
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 | €137,038 | €177,629 | +€40,591 | +29.6% |
| Fixed assets | 21/28 | €125,830 | €157,736 | +€31,906 | +25.4% |
| Intangible fixed assets | 21 | €706 | €466 | -€240 | -34.0% |
| Tangible fixed assets | 22/27 | €94,124 | €126,071 | +€31,946 | +33.9% |
| Land and buildings | 22 | €92,086 | €89,990 | -€2,096 | -2.3% |
| Plant, machinery and equipment | 23 | €1,332 | €436 | -€896 | -67.3% |
| Furniture and vehicles | 24 | €706 | €35,644 | +€34,939 | +4952.2% |
| Financial fixed assets | 28 | €31,000 | €31,200 | +€200 | +0.6% |
| Current assets | 29/58 | €11,208 | €19,892 | +€8,685 | +77.5% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,491 | €9,542 | +€5,051 | +112.5% |
| Trade receivables | 40 | €2,820 | €1,558 | -€1,261 | -44.7% |
| Other amounts receivable | 41 | €1,671 | €7,984 | +€6,313 | +377.8% |
| Cash at bank and in hand | 54/58 | €3,853 | €7,463 | +€3,609 | +93.7% |
| Deferred charges and accrued income | 490/1 | €1,864 | €1,888 | +€24 | +1.3% |
| Total equity and liabilities | 10/49 | €137,038 | €177,629 | +€40,591 | +29.6% |
| Equity | 10/15 | -€6,891 | -€6,820 | +€71 | +1.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,891 | -€16,820 | +€71 | +0.4% |
| Amounts payable | 17/49 | €143,929 | €184,449 | +€40,520 | +28.2% |
| Amounts payable after more than one year | 17 | €129,497 | €153,641 | +€24,144 | +18.6% |
| Financial debts | 170/4 | €63,497 | €87,641 | +€24,144 | +38.0% |
| Other amounts payable | 178/9 | €66,000 | €66,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,432 | €30,808 | +€16,376 | +113.5% |
| Current portion of amounts payable after more than one year | 42 | €3,687 | €10,294 | +€6,607 | +179.2% |
| Trade debts | 44 | €2,787 | €1,527 | -€1,261 | -45.2% |
| Suppliers | 440/4 | €2,787 | €1,527 | -€1,261 | -45.2% |
| Taxes, remuneration and social security | 45 | €1,989 | €2,294 | +€304 | +15.3% |
| Taxes | 450/3 | - | €284 | +€284 | |
| Remuneration and social security | 454/9 | €1,989 | €2,010 | +€21 | +1.0% |
| Other amounts payable | 47/48 | €5,968 | €16,694 | +€10,726 | +179.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,792 | €4,845 | +€53 | +1.1% |
| Other operating charges | 640/8 | €884 | €901 | +€17 | +2.0% |
| Non-recurring operating charges | 66A | - | €2,306 | +€2,306 | |
| Gross operating margin | 9900 | -€5,713 | €9,851 | +€15,563 | |
| Operating profit (loss) | 9901 | -€11,388 | €1,799 | +€13,187 | |
| Financial income | 75/76B | €31 | €10 | -€20 | -65.7% |
| Recurring financial income | 75 | €31 | €10 | -€20 | -65.7% |
| Financial charges | 65/66B | €1,308 | €1,455 | +€146 | +11.2% |
| Recurring financial charges | 65 | €1,308 | €1,455 | +€146 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,666 | €355 | +€13,021 | |
| Income taxes | 67/77 | €273 | €284 | +€11 | +4.1% |
| Profit (loss) for the period | 9904 | -€12,938 | €71 | +€13,009 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,938 | €71 | +€13,009 |
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 3 October 2026 via checked.be.