WARZEE Construction: 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.
WARZEE Construction
Largest movements
- Tangible fixed assets +€190,969
up €190,969 (+424.4%), from €45,000 to €235,969
of which Furniture and vehicles: +€98,458
- Cash +€121,582
up €121,582 (+479.1%), from €25,379 to €146,960
mainly Accrued charges and deferred income (+€213,342) and Debts after one year (+€96,090)
- Receivables within one year +€102,928
up €102,928 (+120.4%), from €85,463 to €188,391
of which Trade receivables: +€79,249
- Accrued charges and deferred income +€213,342
up €213,342 (+387.9%), from €55,000 to €268,342
- Debts after one year +€96,090
up €96,090 (+360.2%), from €26,677 to €122,767
- Reserves +€40,000
up €40,000 (+114.3%), from €35,000 to €75,000
- Current portion of long-term debt +€36,536
up €36,536 (+216.3%), from €16,891 to €53,427
- Tax, wage and social debts +€13,406
up €13,406 (+336.8%), from €3,981 to €17,387
of which Taxes: +€14,906
- Gross operating margin +€85,281
up €85,281 (+185.4%), from €45,999 to €131,279
- Depreciation +€27,832
up €27,832 (+99.1%), from €28,074 to €55,906
- Taxes +€15,557
up €15,557 (+523.8%), from €2,970 to €18,527
- Financial charges +€2,375
up €2,375 (+109.4%), from €2,171 to €4,546
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 | €156,492 | €573,362 | +€416,870 | +266.4% |
| Fixed assets | 21/28 | €45,300 | €236,269 | +€190,969 | +421.6% |
| Tangible fixed assets | 22/27 | €45,000 | €235,969 | +€190,969 | +424.4% |
| Plant, machinery and equipment | 23 | €3,875 | €96,386 | +€92,511 | +2387.3% |
| Furniture and vehicles | 24 | €41,125 | €139,583 | +€98,458 | +239.4% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €111,191 | €337,093 | +€225,901 | +203.2% |
| Stocks and contracts in progress | 3 | - | €1,741 | +€1,741 | |
| Stocks | 30/36 | - | €1,741 | +€1,741 | |
| Amounts receivable within one year | 40/41 | €85,463 | €188,391 | +€102,928 | +120.4% |
| Trade receivables | 40 | €73,493 | €152,742 | +€79,249 | +107.8% |
| Other amounts receivable | 41 | €11,970 | €35,649 | +€23,679 | +197.8% |
| Cash at bank and in hand | 54/58 | €25,379 | €146,960 | +€121,582 | +479.1% |
| Deferred charges and accrued income | 490/1 | €350 | - | -€350 | |
| Total equity and liabilities | 10/49 | €156,492 | €573,362 | +€416,870 | +266.4% |
| Equity | 10/15 | €42,704 | €92,223 | +€49,519 | +116.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,000 | €75,000 | +€40,000 | +114.3% |
| Distributable reserves | 133 | €35,000 | €75,000 | +€40,000 | +114.3% |
| Profit (loss) carried forward | 14 | €1,504 | €11,023 | +€9,519 | +632.9% |
| Amounts payable | 17/49 | €113,788 | €481,139 | +€367,351 | +322.8% |
| Amounts payable after more than one year | 17 | €26,677 | €122,767 | +€96,090 | +360.2% |
| Financial debts | 170/4 | €26,677 | €122,767 | +€96,090 | +360.2% |
| Amounts payable within one year | 42/48 | €32,111 | €90,029 | +€57,919 | +180.4% |
| Current portion of amounts payable after more than one year | 42 | €16,891 | €53,427 | +€36,536 | +216.3% |
| Trade debts | 44 | €3,076 | €13,002 | +€9,926 | +322.7% |
| Suppliers | 440/4 | €3,076 | €13,002 | +€9,926 | +322.7% |
| Taxes, remuneration and social security | 45 | €3,981 | €17,387 | +€13,406 | +336.8% |
| Taxes | 450/3 | €2,481 | €17,387 | +€14,906 | +600.9% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €8,163 | €6,213 | -€1,950 | -23.9% |
| Accrued charges and deferred income | 492/3 | €55,000 | €268,342 | +€213,342 | +387.9% |
| Remuneration, social security and pensions | 62 | - | €103 | +€103 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,074 | €55,906 | +€27,832 | +99.1% |
| Other operating charges | 640/8 | €2,377 | €2,719 | +€342 | +14.4% |
| Gross operating margin | 9900 | €45,999 | €131,279 | +€85,281 | +185.4% |
| Operating profit (loss) | 9901 | €15,548 | €72,552 | +€57,004 | +366.6% |
| Financial income | 75/76B | €4 | €40 | +€36 | +810.0% |
| Recurring financial income | 75 | €4 | €40 | +€36 | +810.0% |
| Financial charges | 65/66B | €2,171 | €4,546 | +€2,375 | +109.4% |
| Recurring financial charges | 65 | €2,171 | €4,546 | +€2,375 | +109.4% |
| Profit (loss) for the period before taxes | 9903 | €13,381 | €68,046 | +€54,665 | +408.5% |
| Income taxes | 67/77 | €2,970 | €18,527 | +€15,557 | +523.8% |
| Profit (loss) for the period | 9904 | €10,411 | €49,519 | +€39,108 | +375.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,411 | €49,519 | +€39,108 | +375.6% |
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 12 October 2026 via checked.be.