WARP. BE: 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.
WARP. BE
Largest movements
- Cash +€40,683
up €40,683 (+20.5%), from €198,657 to €239,340
mainly Net result for the year (+€89,043) and Depreciation (+€39,093)
- Reserves +€44,000
up €44,000 (+11.6%), from €379,860 to €423,860
- Gross operating margin -€26,679
down €26,679 (-14.2%), from €187,625 to €160,945
- Taxes -€8,250
down €8,250 (-19.1%), from €43,175 to €34,925
- Depreciation +€3,095
up €3,095 (+8.6%), from €35,998 to €39,093
- Financial income +€3,064
up €3,064 (+320.9%), from €955 to €4,019
- Financial charges -€2,049
down €2,049 (-94.9%), from €2,158 to €109
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 | €413,060 | €452,350 | +€39,290 | +9.5% |
| Fixed assets | 21/28 | €198,445 | €195,765 | -€2,680 | -1.4% |
| Tangible fixed assets | 22/27 | €198,395 | €195,715 | -€2,680 | -1.4% |
| Land and buildings | 22 | €159,357 | €160,376 | +€1,019 | +0.6% |
| Plant, machinery and equipment | 23 | €18,974 | €27,772 | +€8,798 | +46.4% |
| Furniture and vehicles | 24 | €20,064 | €7,567 | -€12,497 | -62.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €214,614 | €256,585 | +€41,971 | +19.6% |
| Amounts receivable within one year | 40/41 | €15,799 | €17,245 | +€1,447 | +9.2% |
| Trade receivables | 40 | €15,799 | €17,160 | +€1,361 | +8.6% |
| Other amounts receivable | 41 | - | €85 | +€85 | |
| Cash at bank and in hand | 54/58 | €198,657 | €239,340 | +€40,683 | +20.5% |
| Deferred charges and accrued income | 490/1 | €158 | - | -€158 | |
| Total equity and liabilities | 10/49 | €413,060 | €452,350 | +€39,290 | +9.5% |
| Equity | 10/15 | €401,845 | €445,888 | +€44,043 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €379,860 | €423,860 | +€44,000 | +11.6% |
| Distributable reserves | 133 | €379,860 | €423,860 | +€44,000 | +11.6% |
| Profit (loss) carried forward | 14 | €3,385 | €3,428 | +€43 | +1.3% |
| Amounts payable | 17/49 | €11,214 | €6,461 | -€4,753 | -42.4% |
| Amounts payable within one year | 42/48 | €11,214 | €6,461 | -€4,753 | -42.4% |
| Trade debts | 44 | €1,561 | €1,370 | -€191 | -12.2% |
| Suppliers | 440/4 | €1,561 | €1,370 | -€191 | -12.2% |
| Taxes, remuneration and social security | 45 | €5,264 | €1,375 | -€3,889 | -73.9% |
| Taxes | 450/3 | €5,264 | €1,375 | -€3,889 | -73.9% |
| Other amounts payable | 47/48 | €4,390 | €3,716 | -€673 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,998 | €39,093 | +€3,095 | +8.6% |
| Other operating charges | 640/8 | €1,557 | €1,794 | +€237 | +15.2% |
| Gross operating margin | 9900 | €187,625 | €160,945 | -€26,679 | -14.2% |
| Operating profit (loss) | 9901 | €150,070 | €120,058 | -€30,011 | -20.0% |
| Financial income | 75/76B | €955 | €4,019 | +€3,064 | +320.9% |
| Recurring financial income | 75 | €955 | €4,019 | +€3,064 | +320.9% |
| Financial charges | 65/66B | €2,158 | €109 | -€2,049 | -94.9% |
| Recurring financial charges | 65 | €2,158 | €109 | -€2,049 | -94.9% |
| Profit (loss) for the period before taxes | 9903 | €148,866 | €123,968 | -€24,898 | -16.7% |
| Income taxes | 67/77 | €43,175 | €34,925 | -€8,250 | -19.1% |
| Profit (loss) for the period | 9904 | €105,691 | €89,043 | -€16,648 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €105,691 | €89,043 | -€16,648 | -15.8% |
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.