Warre 2020: 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.
Warre 2020
Largest movements
- Tangible fixed assets -€15,429
down €15,429 (-25.2%), from €61,273 to €45,843
of which Furniture and vehicles: -€13,250
- Cash +€3,275
up €3,275 (+362%), from €904 to €4,178
mainly Depreciation (+€15,533) and Tax, wage and social debts (+€1,634)
- Receivables within one year +€2,887
up €2,887 (+308%), from €938 to €3,825
of which Trade receivables: +€3,225
- Deferred charges and accrued income -€1,187
no longer reported in 2025 (was €1,187)
- Profit (loss) carried forward -€7,127
down €7,127 (-271%), from -€2,633 to -€9,760
- Other debts -€4,897
down €4,897 (-7.7%), from €63,820 to €58,923
- Tax, wage and social debts +€1,634
up €1,634 (+3,256%), from €50 to €1,684
- Gross operating margin +€9,044
up €9,044, from -€114 to €8,930
- Depreciation +€5,194
up €5,194 (+50.2%), from €10,339 to €15,533
- Taxes +€194
no longer reported in 2025 (was -€194)
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 | €64,406 | €53,847 | -€10,559 | -16.4% |
| Formation expenses | 20 | €104 | - | -€104 | |
| Fixed assets | 21/28 | €61,273 | €45,843 | -€15,429 | -25.2% |
| Tangible fixed assets | 22/27 | €61,273 | €45,843 | -€15,429 | -25.2% |
| Plant, machinery and equipment | 23 | €5,229 | €3,050 | -€2,179 | -41.7% |
| Furniture and vehicles | 24 | €56,043 | €42,793 | -€13,250 | -23.6% |
| Current assets | 29/58 | €3,029 | €8,004 | +€4,975 | +164% |
| Amounts receivable within one year | 40/41 | €938 | €3,825 | +€2,887 | +308% |
| Trade receivables | 40 | €192 | €3,417 | +€3,225 | +1,680% |
| Other amounts receivable | 41 | €746 | €409 | -€338 | -45.2% |
| Cash at bank and in hand | 54/58 | €904 | €4,178 | +€3,275 | +362% |
| Deferred charges and accrued income | 490/1 | €1,187 | - | -€1,187 | |
| Total equity and liabilities | 10/49 | €64,406 | €53,847 | -€10,559 | -16.4% |
| Equity | 10/15 | €367 | -€6,760 | -€7,127 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,633 | -€9,760 | -€7,127 | -271% |
| Amounts payable | 17/49 | €64,039 | €60,607 | -€3,432 | -5.4% |
| Amounts payable within one year | 42/48 | €64,039 | €60,607 | -€3,432 | -5.4% |
| Trade debts | 44 | €168 | - | -€168 | |
| Suppliers | 440/4 | €168 | - | -€168 | |
| Taxes, remuneration and social security | 45 | €50 | €1,684 | +€1,634 | +3,256% |
| Taxes | 450/3 | €50 | €1,684 | +€1,634 | +3,256% |
| Other amounts payable | 47/48 | €63,820 | €58,923 | -€4,897 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,339 | €15,533 | +€5,194 | +50.2% |
| Other operating charges | 640/8 | €387 | €463 | +€76 | +19.6% |
| Gross operating margin | 9900 | -€114 | €8,930 | +€9,044 | |
| Operating profit (loss) | 9901 | -€10,841 | -€7,066 | +€3,774 | +34.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €62 | €61 | -€1 | -2.3% |
| Recurring financial charges | 65 | €62 | €61 | -€1 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,903 | -€7,127 | +€3,776 | +34.6% |
| Income taxes | 67/77 | -€194 | - | +€194 | |
| Profit (loss) for the period | 9904 | -€10,709 | -€7,127 | +€3,582 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,709 | -€7,127 | +€3,582 | +33.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.