WARVAN: what changed
Two fiscal 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.
WARVAN
Largest movements
- Receivables within one year -€28,240
down €28,240 (-53.6%), from €52,640 to €24,400
of which Trade receivables: -€32,280
- Cash -€28,126
down €28,126 (-39.1%), from €71,994 to €43,869
mainly Trade debts (-€27,187) and Other debts (-€15,585)
- Stocks and contracts +€10,107
up €10,107 (+7.3%), from €138,024 to €148,131
- Trade debts -€27,187
down €27,187 (-45.4%), from €59,925 to €32,738
- Other debts -€15,585
down €15,585 (-20.8%), from €74,799 to €59,214
- Tax, wage and social debts -€5,696
down €5,696 (-61.0%), from €9,333 to €3,637
of which Remuneration and social security: -€6,302
- Accrued charges and deferred income +€3,377
up €3,377 (+51.8%), from €6,523 to €9,900
- Gross operating margin +€52,151
up €52,151 (+196.5%), from €26,540 to €78,691
- Staff costs +€17,979
up €17,979 (+33.3%), from €54,011 to €71,991
- Depreciation +€1,440
up €1,440 (+117.7%), from €1,223 to €2,663
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €280,761 | €235,803 | -€44,958 | -16.0% |
| Fixed assets | 21/28 | €13,241 | €15,270 | +€2,029 | +15.3% |
| Tangible fixed assets | 22/27 | €10,741 | €12,770 | +€2,029 | +18.9% |
| Land and buildings | 22 | - | €4,530 | +€4,530 | |
| Plant, machinery and equipment | 23 | €9,120 | €7,159 | -€1,961 | -21.5% |
| Other tangible fixed assets | 26 | €1,621 | €1,081 | -€540 | -33.3% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €267,520 | €220,533 | -€46,987 | -17.6% |
| Stocks and contracts in progress | 3 | €138,024 | €148,131 | +€10,107 | +7.3% |
| Stocks | 30/36 | €138,024 | €148,131 | +€10,107 | +7.3% |
| Amounts receivable within one year | 40/41 | €52,640 | €24,400 | -€28,240 | -53.6% |
| Trade receivables | 40 | €50,590 | €18,310 | -€32,280 | -63.8% |
| Other amounts receivable | 41 | €2,050 | €6,090 | +€4,040 | +197.1% |
| Cash at bank and in hand | 54/58 | €71,994 | €43,869 | -€28,126 | -39.1% |
| Deferred charges and accrued income | 490/1 | €4,861 | €4,133 | -€728 | -15.0% |
| Total equity and liabilities | 10/49 | €280,761 | €235,803 | -€44,958 | -16.0% |
| Equity | 10/15 | -€191,320 | -€191,187 | +€134 | +0.1% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €54,607 | €54,607 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €52,747 | €52,747 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€595,927 | -€595,793 | +€134 | 0.0% |
| Amounts payable | 17/49 | €472,081 | €426,989 | -€45,092 | -9.6% |
| Amounts payable after more than one year | 17 | €321,500 | €321,500 | = | 0.0% |
| Financial debts | 170/4 | €321,500 | €321,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,058 | €95,589 | -€48,468 | -33.6% |
| Trade debts | 44 | €59,925 | €32,738 | -€27,187 | -45.4% |
| Suppliers | 440/4 | €59,925 | €32,738 | -€27,187 | -45.4% |
| Taxes, remuneration and social security | 45 | €9,333 | €3,637 | -€5,696 | -61.0% |
| Taxes | 450/3 | €206 | €813 | +€606 | +293.8% |
| Remuneration and social security | 454/9 | €9,127 | €2,825 | -€6,302 | -69.1% |
| Other amounts payable | 47/48 | €74,799 | €59,214 | -€15,585 | -20.8% |
| Accrued charges and deferred income | 492/3 | €6,523 | €9,900 | +€3,377 | +51.8% |
| Remuneration, social security and pensions | 62 | €54,011 | €71,991 | +€17,979 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,223 | €2,663 | +€1,440 | +117.7% |
| Other operating charges | 640/8 | €2,120 | €1,363 | -€757 | -35.7% |
| Non-recurring operating charges | 66A | - | €1,570 | +€1,570 | |
| Gross operating margin | 9900 | €26,540 | €78,691 | +€52,151 | +196.5% |
| Operating profit (loss) | 9901 | -€30,814 | €1,105 | +€31,919 | |
| Financial income | 75/76B | €1,002 | €922 | -€80 | -7.9% |
| Recurring financial income | 75 | €1,002 | €922 | -€80 | -7.9% |
| Financial charges | 65/66B | €2,624 | €1,894 | -€730 | -27.8% |
| Recurring financial charges | 65 | €2,624 | €1,894 | -€730 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | -€32,436 | €134 | +€32,570 | |
| Profit (loss) for the period | 9904 | -€32,436 | €134 | +€32,570 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,436 | €134 | +€32,570 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.