WARSAW UNIT: 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.
WARSAW UNIT
Largest movements
- Receivables after one year -€31.5m
down €31.5m (-100%), from €31.5m to €0
- Current investments -€5.7m
no longer reported in 2025 (was €5.7m)
- Profit (loss) carried forward -€36.7m
down €36.7m (-74.0%), from -€49.6m to -€86.4m
- Other debts -€616,082
no longer reported in 2025 (was €616,082)
- Financial charges +€26.5m
up €26.5m (+212%), from €12.5m to €39.0m
of which Non-recurring financial charges: +€38.7m
- Gross operating margin +€2.6m
up €2.6m (+98.8%), from -€2.6m to -€32,563
- Financial income -€610,767
down €610,767 (-20.8%), from €2.9m to €2.3m
- Taxes +€63,360
new in 2025: €63,360
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 | €37,251,816 | €3,289 | -€37.2m | -100.0% |
| Current assets | 29/58 | €37,251,816 | €3,289 | -€37.2m | -100.0% |
| Amounts receivable after more than one year | 29 | €31,500,013 | €0 | -€31.5m | -100% |
| Other amounts receivable | 291 | €31,500,013 | €0 | -€31.5m | -100% |
| Current investments | 50/53 | €5,743,787 | - | -€5.7m | |
| Cash at bank and in hand | 54/58 | €8,016 | €3,289 | -€4,727 | -59.0% |
| Deferred charges and accrued income | 490/1 | - | €0 | = | |
| Total equity and liabilities | 10/49 | €37,251,816 | €3,289 | -€37.2m | -100.0% |
| Equity | 10/15 | €32,716,707 | -€4,013,390 | -€36.7m | |
| Contributions | 10/11 | €82,358,749 | €82,358,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,642,042 | -€86,372,139 | -€36.7m | -74.0% |
| Provisions and deferred taxes | 16 | - | €0 | = | |
| Provisions for liabilities and charges | 160/5 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €0 | = | |
| Amounts payable | 17/49 | €4,535,109 | €4,016,680 | -€518,430 | -11.4% |
| Amounts payable after more than one year | 17 | €3,794,153 | €3,894,517 | +€100,363 | +2.6% |
| Other amounts payable | 178/9 | €3,794,153 | €3,894,517 | +€100,363 | +2.6% |
| Amounts payable within one year | 42/48 | €740,805 | €122,163 | -€618,642 | -83.5% |
| Trade debts | 44 | €124,723 | €58,802 | -€65,921 | -52.9% |
| Suppliers | 440/4 | €124,723 | €58,802 | -€65,921 | -52.9% |
| Taxes, remuneration and social security | 45 | - | €63,360 | +€63,360 | |
| Taxes | 450/3 | - | €63,360 | +€63,360 | |
| Other amounts payable | 47/48 | €616,082 | - | -€616,082 | |
| Accrued charges and deferred income | 492/3 | €151 | - | -€151 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €513 | €558 | +€45 | +8.8% |
| Non-recurring operating charges | 66A | €37,416,118 | - | -€37.4m | |
| Gross operating margin | 9900 | -€2,635,035 | -€32,563 | +€2.6m | +98.8% |
| Operating profit (loss) | 9901 | -€40,051,667 | -€33,121 | +€40.0m | +99.9% |
| Financial income | 75/76B | €2,933,881 | €2,323,114 | -€610,767 | -20.8% |
| Recurring financial income | 75 | €2,933,881 | €2,323,114 | -€610,767 | -20.8% |
| Financial charges | 65/66B | €12,472,034 | €38,956,729 | +€26.5m | +212% |
| Recurring financial charges | 65 | €12,472,034 | €228,435 | -€12.2m | -98.2% |
| Non-recurring financial charges | 66B | - | €38,728,294 | +€38.7m | |
| Profit (loss) for the period before taxes | 9903 | -€49,589,820 | -€36,666,737 | +€12.9m | +26.1% |
| Income taxes | 67/77 | - | €63,360 | +€63,360 | |
| Profit (loss) for the period | 9904 | -€49,589,820 | -€36,730,097 | +€12.9m | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,589,820 | -€36,730,097 | +€12.9m | +25.9% |
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 24 October 2026 via checked.be.