Wartrans: 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.
Wartrans
Largest movements
- Cash -€224,236
down €224,236 (-59.8%), from €374,876 to €150,640
mainly Debts after one year (-€317,166) and Investment in fixed assets (net) (-€257,636)
- Tangible fixed assets -€176,762
down €176,762 (-12.3%), from €1.4m to €1.3m
of which Leasing and similar rights: -€249,244
- Debts after one year -€317,166
down €317,166 (-31.1%), from €1.0m to €702,452
- Trade debts -€61,842
down €61,842 (-31.6%), from €195,633 to €133,791
- Reserves +€23,065
up €23,065 (+4.9%), from €474,646 to €497,711
of which Distributable reserves: +€23,065
- Gross operating margin -€106,787
down €106,787 (-8.7%), from €1.2m to €1.1m
- Depreciation -€56,218
down €56,218 (-11.5%), from €490,616 to €434,398
- Staff costs +€17,306
up €17,306 (+2.9%), from €596,220 to €613,525
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 | €2,122,906 | €1,748,830 | -€374,075 | -17.6% |
| Fixed assets | 21/28 | €1,436,718 | €1,259,956 | -€176,762 | -12.3% |
| Tangible fixed assets | 22/27 | €1,435,118 | €1,258,356 | -€176,762 | -12.3% |
| Plant, machinery and equipment | 23 | €7,409 | €1,155 | -€6,254 | -84.4% |
| Furniture and vehicles | 24 | €459,484 | €538,219 | +€78,735 | +17.1% |
| Leasing and similar rights | 25 | €968,225 | €718,981 | -€249,244 | -25.7% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €686,188 | €488,874 | -€197,313 | -28.8% |
| Amounts receivable within one year | 40/41 | €301,373 | €322,253 | +€20,881 | +6.9% |
| Trade receivables | 40 | €272,971 | €282,288 | +€9,317 | +3.4% |
| Other amounts receivable | 41 | €28,401 | €39,965 | +€11,563 | +40.7% |
| Cash at bank and in hand | 54/58 | €374,876 | €150,640 | -€224,236 | -59.8% |
| Deferred charges and accrued income | 490/1 | €9,939 | €15,981 | +€6,042 | +60.8% |
| Total equity and liabilities | 10/49 | €2,122,906 | €1,748,830 | -€374,075 | -17.6% |
| Equity | 10/15 | €497,377 | €518,667 | +€21,290 | +4.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €474,646 | €497,711 | +€23,065 | +4.9% |
| Tax-exempt reserves | 132 | €96,437 | €96,437 | = | 0.0% |
| Distributable reserves | 133 | €378,209 | €401,274 | +€23,065 | +6.1% |
| Investment grants | 15 | €3,731 | €1,956 | -€1,775 | -47.6% |
| Amounts payable | 17/49 | €1,625,528 | €1,230,163 | -€395,365 | -24.3% |
| Amounts payable after more than one year | 17 | €1,019,618 | €702,452 | -€317,166 | -31.1% |
| Financial debts | 170/4 | €1,019,618 | €702,452 | -€317,166 | -31.1% |
| Amounts payable within one year | 42/48 | €605,910 | €527,711 | -€78,199 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €324,353 | €317,166 | -€7,187 | -2.2% |
| Trade debts | 44 | €195,633 | €133,791 | -€61,842 | -31.6% |
| Suppliers | 440/4 | €195,633 | €133,791 | -€61,842 | -31.6% |
| Taxes, remuneration and social security | 45 | €85,924 | €76,754 | -€9,170 | -10.7% |
| Taxes | 450/3 | €4,789 | €4,716 | -€73 | -1.5% |
| Remuneration and social security | 454/9 | €81,135 | €72,038 | -€9,097 | -11.2% |
| Non-recurring operating income | 76A | €52,345 | €19,316 | -€33,029 | -63.1% |
| Remuneration, social security and pensions | 62 | €596,220 | €613,525 | +€17,306 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €490,616 | €434,398 | -€56,218 | -11.5% |
| Other operating charges | 640/8 | €16,825 | €14,123 | -€2,702 | -16.1% |
| Gross operating margin | 9900 | €1,231,926 | €1,125,138 | -€106,787 | -8.7% |
| Operating profit (loss) | 9901 | €128,265 | €63,093 | -€65,173 | -50.8% |
| Financial income | 75/76B | €5,674 | €4,681 | -€993 | -17.5% |
| Recurring financial income | 75 | €5,674 | €4,681 | -€993 | -17.5% |
| Financial charges | 65/66B | €42,265 | €36,460 | -€5,805 | -13.7% |
| Recurring financial charges | 65 | €42,265 | €36,460 | -€5,805 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €91,674 | €31,314 | -€60,360 | -65.8% |
| Income taxes | 67/77 | €10,391 | €8,249 | -€2,142 | -20.6% |
| Profit (loss) for the period | 9904 | €81,283 | €23,065 | -€58,219 | -71.6% |
| Transfer to tax-exempt reserves | 689 | €52,345 | €0 | -€52,345 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,939 | €23,065 | -€5,874 | -20.3% |
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 9 October 2026 via checked.be.