WARROT: 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.
WARROT
Largest movements
- Cash +€100,956
up €100,956 (+11.9%), from €850,566 to €951,522
mainly Net result for the year (+€74,961) and Receivables within one year (+€28,114)
- Receivables within one year -€28,114
down €28,114 (-76.6%), from €36,679 to €8,565
- Tangible fixed assets -€17,599
down €17,599 (-30.2%), from €58,205 to €40,606
- Reserves +€74,961
up €74,961 (+13.3%), from €563,605 to €638,566
of which Distributable reserves: +€636,707
- Debts -€19,718
down €19,718 (-5.1%), from €386,184 to €366,466
of which Debts within one year: -€20,281
- Gross operating margin +€53,196
up €53,196 (+56.2%), from €94,711 to €147,907
- Financial charges +€15,087
new in 2021: €15,087
- Taxes +€12,377
up €12,377 (+88.5%), from €13,989 to €26,366
- Other operating charges +€4,644
new in 2021: €4,644
- Depreciation +€2,278
up €2,278 (+9.3%), from €24,571 to €26,849
From the 2020 result to the 2021 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 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,017,900 | €1,073,143 | +€55,243 | +5.4% |
| Formation expenses | 20 | €72,450 | €72,450 | = | 0.0% |
| Fixed assets | 21/28 | €58,205 | €40,606 | -€17,599 | -30.2% |
| Tangible fixed assets | 22/27 | €58,205 | €40,606 | -€17,599 | -30.2% |
| Land and buildings | 22 | - | €3,878 | +€3,878 | |
| Plant, machinery and equipment | 23 | - | €6,972 | +€6,972 | |
| Furniture and vehicles | 24 | - | €29,756 | +€29,756 | |
| Current assets | 29/58 | €887,245 | €960,087 | +€72,842 | +8.2% |
| Amounts receivable within one year | 40/41 | €36,679 | €8,565 | -€28,114 | -76.6% |
| Trade receivables | 40 | - | €6,224 | +€6,224 | |
| Other amounts receivable | 41 | - | €2,341 | +€2,341 | |
| Cash at bank and in hand | 54/58 | €850,566 | €951,522 | +€100,956 | +11.9% |
| Total equity and liabilities | 10/49 | €1,017,900 | €1,073,143 | +€55,243 | +5.4% |
| Equity | 10/15 | €606,716 | €681,677 | +€74,961 | +12.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €563,605 | €638,566 | +€74,961 | +13.3% |
| Non-distributable reserves | 130/1 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Distributable reserves | 133 | - | €636,707 | +€636,707 | |
| Profit (loss) carried forward | 14 | €24,519 | €24,519 | = | 0.0% |
| Provisions and deferred taxes | 16 | €25,000 | €25,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | - | €25,000 | +€25,000 | |
| Major repairs and maintenance | 162 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €386,184 | €366,466 | -€19,718 | -5.1% |
| Amounts payable within one year | 42/48 | €377,516 | €357,235 | -€20,281 | -5.4% |
| Trade debts | 44 | €46,782 | €6,983 | -€39,799 | -85.1% |
| Suppliers | 440/4 | - | €6,983 | +€6,983 | |
| Taxes, remuneration and social security | 45 | - | €16,023 | +€16,023 | |
| Taxes | 450/3 | - | €16,023 | +€16,023 | |
| Other amounts payable | 47/48 | - | €334,229 | +€334,229 | |
| Accrued charges and deferred income | 492/3 | - | €9,231 | +€9,231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,571 | €26,849 | +€2,278 | +9.3% |
| Other operating charges | 640/8 | - | €4,644 | +€4,644 | |
| Gross operating margin | 9900 | €94,711 | €147,907 | +€53,196 | +56.2% |
| Operating profit (loss) | 9901 | €65,248 | €116,414 | +€51,166 | +78.4% |
| Financial charges | 65/66B | - | €15,087 | +€15,087 | |
| Recurring financial charges | 65 | €13,211 | €15,087 | +€1,876 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €52,037 | €101,327 | +€49,290 | +94.7% |
| Income taxes | 67/77 | €13,989 | €26,366 | +€12,377 | +88.5% |
| Profit (loss) for the period | 9904 | €38,048 | €74,961 | +€36,913 | +97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,048 | €74,961 | +€36,913 | +97.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.