WARNIER: what changed
Two financial 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.
WARNIER
Largest movements
- Receivables after one year +€180,988
new in 2025: €180,988
- Cash +€179,575
up €179,575 (+236%), from €76,113 to €255,688
mainly Trade debts (+€188,167) and Receivables within one year (+€133,592)
- Receivables within one year -€133,592
down €133,592 (-50.6%), from €263,916 to €130,325
of which Other amounts receivable: -€173,316
- Stocks and contracts +€95,571
up €95,571 (+255%), from €37,415 to €132,986
- Tangible fixed assets -€17,649
down €17,649 (-17.0%), from €103,684 to €86,036
of which Furniture and vehicles: -€24,578
- Trade debts +€188,167
up €188,167 (+314%), from €59,865 to €248,032
- Advances received +€97,732
up €97,732 (+870%), from €11,240 to €108,972
- Reserves +€16,509
up €16,509 (+5.1%), from €326,063 to €342,572
- Debts after one year -€14,201
down €14,201 (-36.5%), from €38,959 to €24,758
- Tax, wage and social debts +€12,118
up €12,118 (+78.2%), from €15,488 to €27,606
of which Remuneration and social security: +€13,379
- Gross operating margin +€71,683
up €71,683 (+46.5%), from €154,071 to €225,754
- Staff costs +€57,002
up €57,002 (+56.4%), from €101,037 to €158,039
- Depreciation +€10,468
up €10,468 (+36.8%), from €28,461 to €38,930
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.
Derived cash bridge
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 | €494,315 | €786,373 | +€292,058 | +59.1% |
| Fixed assets | 21/28 | €104,307 | €86,386 | -€17,921 | -17.2% |
| Intangible fixed assets | 21 | €499 | €227 | -€272 | -54.5% |
| Tangible fixed assets | 22/27 | €103,684 | €86,036 | -€17,649 | -17.0% |
| Plant, machinery and equipment | 23 | €11,259 | €19,557 | +€8,298 | +73.7% |
| Furniture and vehicles | 24 | €72,134 | €47,556 | -€24,578 | -34.1% |
| Leasing and similar rights | 25 | €20,291 | €12,408 | -€7,883 | -38.9% |
| Other tangible fixed assets | 26 | - | €6,514 | +€6,514 | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €390,008 | €699,987 | +€309,979 | +79.5% |
| Amounts receivable after more than one year | 29 | - | €180,988 | +€180,988 | |
| Other amounts receivable | 291 | - | €180,988 | +€180,988 | |
| Stocks and contracts in progress | 3 | €37,415 | €132,986 | +€95,571 | +255% |
| Stocks | 30/36 | €37,415 | €132,986 | +€95,571 | +255% |
| Amounts receivable within one year | 40/41 | €263,916 | €130,325 | -€133,592 | -50.6% |
| Trade receivables | 40 | €82,281 | €122,005 | +€39,724 | +48.3% |
| Other amounts receivable | 41 | €181,636 | €8,320 | -€173,316 | -95.4% |
| Cash at bank and in hand | 54/58 | €76,113 | €255,688 | +€179,575 | +236% |
| Deferred charges and accrued income | 490/1 | €12,563 | - | -€12,563 | |
| Total equity and liabilities | 10/49 | €494,315 | €786,373 | +€292,058 | +59.1% |
| Equity | 10/15 | €344,655 | €361,208 | +€16,554 | +4.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €326,063 | €342,572 | +€16,509 | +5.1% |
| Distributable reserves | 133 | €326,063 | €342,572 | +€16,509 | +5.1% |
| Profit (loss) carried forward | 14 | - | €44 | +€44 | |
| Amounts payable | 17/49 | €149,660 | €425,165 | +€275,505 | +184% |
| Amounts payable after more than one year | 17 | €38,959 | €24,758 | -€14,201 | -36.5% |
| Financial debts | 170/4 | €38,959 | €24,758 | -€14,201 | -36.5% |
| Amounts payable within one year | 42/48 | €102,774 | €400,406 | +€297,632 | +290% |
| Current portion of amounts payable after more than one year | 42 | €15,364 | €15,721 | +€356 | +2.3% |
| Trade debts | 44 | €59,865 | €248,032 | +€188,167 | +314% |
| Suppliers | 440/4 | €59,865 | €248,032 | +€188,167 | +314% |
| Advances received on contracts in progress | 46 | €11,240 | €108,972 | +€97,732 | +870% |
| Taxes, remuneration and social security | 45 | €15,488 | €27,606 | +€12,118 | +78.2% |
| Taxes | 450/3 | €1,262 | - | -€1,262 | |
| Remuneration and social security | 454/9 | €14,226 | €27,606 | +€13,379 | +94.0% |
| Other amounts payable | 47/48 | €817 | €76 | -€742 | -90.7% |
| Accrued charges and deferred income | 492/3 | €7,926 | - | -€7,926 | |
| Non-recurring operating income | 76A | €1,357 | - | -€1,357 | |
| Remuneration, social security and pensions | 62 | €101,037 | €158,039 | +€57,002 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,461 | €38,930 | +€10,468 | +36.8% |
| Other operating charges | 640/8 | €3,665 | €3,591 | -€74 | -2.0% |
| Gross operating margin | 9900 | €154,071 | €225,754 | +€71,683 | +46.5% |
| Operating profit (loss) | 9901 | €20,908 | €25,195 | +€4,287 | +20.5% |
| Financial income | 75/76B | €136 | €140 | +€3 | +2.4% |
| Recurring financial income | 75 | €136 | €140 | +€3 | +2.4% |
| Financial charges | 65/66B | €3,804 | €3,606 | -€198 | -5.2% |
| Recurring financial charges | 65 | €3,804 | €3,606 | -€198 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €17,240 | €21,728 | +€4,489 | +26.0% |
| Income taxes | 67/77 | €5,352 | €5,175 | -€178 | -3.3% |
| Profit (loss) for the period | 9904 | €11,888 | €16,554 | +€4,666 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,888 | €16,554 | +€4,666 | +39.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.