WART & CO: 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.
WART & CO
Largest movements
- Receivables within one year -€15,594
down €15,594 (-99.0%), from €15,744 to €150
of which Other amounts receivable: -€15,744
- Tangible fixed assets -€10,406
down €10,406 (-2.3%), from €444,389 to €433,983
of which Land and buildings: -€8,711
- Other debts -€20,114
down €20,114 (-13.7%), from €146,368 to €126,254
- Profit (loss) carried forward +€9,755
up €9,755 (+90.9%), from -€10,727 to -€972
- Reserves -€7,219
down €7,219 (-3.2%), from €223,386 to €216,167
of which Tax-exempt reserves: -€7,219
- Gross operating margin +€10,486
up €10,486 (+206%), from €5,097 to €15,583
- Staff costs -€6,111
no longer reported in 2025 (was €6,111)
- Other operating charges -€4,547
down €4,547 (-55.0%), from €8,260 to €3,713
- Taxes +€2,537
up €2,537, from -€1,950 to €587
- Depreciation -€526
down €526 (-4.8%), from €10,932 to €10,406
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 | €462,207 | €437,113 | -€25,094 | -5.4% |
| Fixed assets | 21/28 | €444,389 | €433,983 | -€10,406 | -2.3% |
| Tangible fixed assets | 22/27 | €444,389 | €433,983 | -€10,406 | -2.3% |
| Land and buildings | 22 | €438,814 | €430,103 | -€8,711 | -2.0% |
| Furniture and vehicles | 24 | €1,000 | €320 | -€681 | -68.1% |
| Other tangible fixed assets | 26 | €4,574 | €3,561 | -€1,014 | -22.2% |
| Current assets | 29/58 | €17,818 | €3,130 | -€14,688 | -82.4% |
| Amounts receivable within one year | 40/41 | €15,744 | €150 | -€15,594 | -99.0% |
| Trade receivables | 40 | - | €150 | +€150 | |
| Other amounts receivable | 41 | €15,744 | - | -€15,744 | |
| Cash at bank and in hand | 54/58 | €529 | €864 | +€334 | +63.1% |
| Deferred charges and accrued income | 490/1 | €1,545 | €2,116 | +€571 | +37.0% |
| Total equity and liabilities | 10/49 | €462,207 | €437,113 | -€25,094 | -5.4% |
| Equity | 10/15 | €262,660 | €265,195 | +€2,536 | +1.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €223,386 | €216,167 | -€7,219 | -3.2% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €218,386 | €211,167 | -€7,219 | -3.3% |
| Profit (loss) carried forward | 14 | -€10,727 | -€972 | +€9,755 | +90.9% |
| Provisions and deferred taxes | 16 | €45,889 | €43,483 | -€2,406 | -5.2% |
| Deferred taxes | 168 | €45,889 | €43,483 | -€2,406 | -5.2% |
| Amounts payable | 17/49 | €153,658 | €128,434 | -€25,223 | -16.4% |
| Amounts payable within one year | 42/48 | €151,785 | €127,351 | -€24,434 | -16.1% |
| Trade debts | 44 | €1,030 | €510 | -€520 | -50.5% |
| Suppliers | 440/4 | €1,030 | €510 | -€520 | -50.5% |
| Taxes, remuneration and social security | 45 | €4,387 | €587 | -€3,800 | -86.6% |
| Taxes | 450/3 | €4,387 | €587 | -€3,800 | -86.6% |
| Other amounts payable | 47/48 | €146,368 | €126,254 | -€20,114 | -13.7% |
| Accrued charges and deferred income | 492/3 | €1,873 | €1,084 | -€789 | -42.1% |
| Remuneration, social security and pensions | 62 | €6,111 | - | -€6,111 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,932 | €10,406 | -€526 | -4.8% |
| Other operating charges | 640/8 | €8,260 | €3,713 | -€4,547 | -55.0% |
| Gross operating margin | 9900 | €5,097 | €15,583 | +€10,486 | +206% |
| Operating profit (loss) | 9901 | -€20,206 | €1,464 | +€21,670 | |
| Financial income | 75/76B | - | €167 | +€167 | |
| Recurring financial income | 75 | - | €167 | +€167 | |
| Financial charges | 65/66B | €1,426 | €915 | -€511 | -35.9% |
| Recurring financial charges | 65 | €1,426 | €915 | -€511 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,632 | €716 | +€22,348 | |
| Transfer from deferred taxes | 780 | €2,239 | €2,406 | +€168 | +7.5% |
| Income taxes | 67/77 | -€1,950 | €587 | +€2,537 | |
| Profit (loss) for the period | 9904 | -€17,443 | €2,536 | +€19,979 | |
| Transfer from tax-exempt reserves | 789 | €6,716 | €7,219 | +€503 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,727 | €9,755 | +€20,482 |
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 17 October 2026 via checked.be.