WARNIER DEVELOPPEMENT: 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.
WARNIER DEVELOPPEMENT
Largest movements
- Current investments -€50,395
no longer reported in 2025 (was €50,395)
- Cash +€44,596
up €44,596 (+134.4%), from €33,188 to €77,784
mainly Current investments (+€50,395) and Depreciation (+€27,828)
- Receivables within one year +€21,438
up €21,438 (+20.0%), from €107,229 to €128,667
of which Trade receivables: +€21,438
- Deferred charges and accrued income +€4,733
up €4,733 (+162.9%), from €2,905 to €7,639
- Tangible fixed assets -€3,618
down €3,618 (-5.2%), from €69,734 to €66,116
of which Plant, machinery and equipment: -€2,499
- Reserves +€17,153
up €17,153 (+10.9%), from €157,599 to €174,752
- Other debts -€10,273
down €10,273 (-24.3%), from €42,252 to €31,980
- Trade debts +€5,915
up €5,915 (+63.4%), from €9,332 to €15,246
- Debts after one year +€3,387
up €3,387 (+53.9%), from €6,286 to €9,674
- Gross operating margin -€9,211
down €9,211 (-8.1%), from €113,720 to €104,510
- Taxes -€1,335
down €1,335 (-12.5%), from €10,714 to €9,379
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 | €275,636 | €292,391 | +€16,755 | +6.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €69,734 | €66,116 | -€3,618 | -5.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €69,734 | €66,116 | -€3,618 | -5.2% |
| Plant, machinery and equipment | 23 | €4,214 | €1,715 | -€2,499 | -59.3% |
| Furniture and vehicles | 24 | €65,519 | €64,401 | -€1,119 | -1.7% |
| Current assets | 29/58 | €205,902 | €226,275 | +€20,373 | +9.9% |
| Stocks and contracts in progress | 3 | €12,185 | €12,185 | = | 0.0% |
| Stocks | 30/36 | €12,185 | €12,185 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €107,229 | €128,667 | +€21,438 | +20.0% |
| Trade receivables | 40 | €107,229 | €128,667 | +€21,438 | +20.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €50,395 | - | -€50,395 | |
| Cash at bank and in hand | 54/58 | €33,188 | €77,784 | +€44,596 | +134.4% |
| Deferred charges and accrued income | 490/1 | €2,905 | €7,639 | +€4,733 | +162.9% |
| Total equity and liabilities | 10/49 | €275,636 | €292,391 | +€16,755 | +6.1% |
| Equity | 10/15 | €171,241 | €188,394 | +€17,153 | +10.0% |
| Contributions | 10/11 | €13,642 | €13,642 | = | 0.0% |
| Outside capital | 11 | €13,642 | €13,642 | = | 0.0% |
| Other | 1109/19 | €13,642 | €13,642 | = | 0.0% |
| Reserves | 13 | €157,599 | €174,752 | +€17,153 | +10.9% |
| Distributable reserves | 133 | €157,599 | €174,752 | +€17,153 | +10.9% |
| Amounts payable | 17/49 | €104,395 | €103,997 | -€398 | -0.4% |
| Amounts payable after more than one year | 17 | €6,286 | €9,674 | +€3,387 | +53.9% |
| Financial debts | 170/4 | €6,286 | €9,674 | +€3,387 | +53.9% |
| Amounts payable within one year | 42/48 | €97,959 | €94,323 | -€3,635 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €11,677 | €13,197 | +€1,520 | +13.0% |
| Trade debts | 44 | €9,332 | €15,246 | +€5,915 | +63.4% |
| Suppliers | 440/4 | €9,332 | €15,246 | +€5,915 | +63.4% |
| Taxes, remuneration and social security | 45 | €34,698 | €33,900 | -€797 | -2.3% |
| Taxes | 450/3 | €30,326 | €29,396 | -€930 | -3.1% |
| Remuneration and social security | 454/9 | €4,371 | €4,504 | +€133 | +3.0% |
| Other amounts payable | 47/48 | €42,252 | €31,980 | -€10,273 | -24.3% |
| Accrued charges and deferred income | 492/3 | €150 | - | -€150 | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €46,007 | €45,753 | -€254 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,769 | €27,828 | +€1,059 | +4.0% |
| Other operating charges | 640/8 | €1,290 | €2,237 | +€947 | +73.4% |
| Gross operating margin | 9900 | €113,720 | €104,510 | -€9,211 | -8.1% |
| Operating profit (loss) | 9901 | €39,654 | €28,692 | -€10,963 | -27.6% |
| Financial income | 75/76B | €123 | €744 | +€621 | +507.1% |
| Recurring financial income | 75 | €123 | €744 | +€621 | +507.1% |
| Financial charges | 65/66B | €2,413 | €2,904 | +€491 | +20.4% |
| Recurring financial charges | 65 | €2,413 | €2,904 | +€491 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €37,364 | €26,532 | -€10,832 | -29.0% |
| Income taxes | 67/77 | €10,714 | €9,379 | -€1,335 | -12.5% |
| Profit (loss) for the period | 9904 | €26,650 | €17,153 | -€9,497 | -35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,650 | €17,153 | -€9,497 | -35.6% |
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 7 October 2026 via checked.be.