WHITE WOLF: 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.
WHITE WOLF
Largest movements
- Current investments -€85,795
down €85,795 (-26.5%), from €324,031 to €238,236
- Cash +€45,108
up €45,108 (+1869.0%), from €2,413 to €47,521
mainly Current investments (+€85,795) and Other debts (+€30,000)
- Receivables within one year +€19,758
up €19,758 (+86.7%), from €22,797 to €42,554
of which Other amounts receivable: +€18,777
- Reserves -€30,000
down €30,000 (-9.1%), from €330,522 to €300,522
of which Distributable reserves: -€30,000
- Other debts +€30,000
new in 2025: €30,000
- Trade debts -€20,000
no longer reported in 2025 (was €20,000)
- Tax, wage and social debts -€3,762
down €3,762 (-17.0%), from €22,075 to €18,313
of which Taxes: -€3,762
- Financial income +€49,595
up €49,595 (+218.4%), from €22,711 to €72,307
- Gross operating margin -€29,949
down €29,949 (-78.0%), from -€38,384 to -€68,334
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 | €361,880 | €338,646 | -€23,234 | -6.4% |
| Fixed assets | 21/28 | €3,639 | €1,335 | -€2,305 | -63.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €3,565 | €1,260 | -€2,305 | -64.7% |
| Furniture and vehicles | 24 | €3,565 | €1,260 | -€2,305 | -64.7% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €358,241 | €337,311 | -€20,929 | -5.8% |
| Amounts receivable within one year | 40/41 | €22,797 | €42,554 | +€19,758 | +86.7% |
| Trade receivables | 40 | €5,253 | €6,234 | +€981 | +18.7% |
| Other amounts receivable | 41 | €17,543 | €36,320 | +€18,777 | +107.0% |
| Current investments | 50/53 | €324,031 | €238,236 | -€85,795 | -26.5% |
| Cash at bank and in hand | 54/58 | €2,413 | €47,521 | +€45,108 | +1869.0% |
| Deferred charges and accrued income | 490/1 | €9,000 | €9,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €361,880 | €338,646 | -€23,234 | -6.4% |
| Equity | 10/15 | €319,805 | €290,333 | -€29,472 | -9.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €330,522 | €300,522 | -€30,000 | -9.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €330,522 | €300,522 | -€30,000 | -9.1% |
| Profit (loss) carried forward | 14 | -€18,777 | -€18,249 | +€528 | +2.8% |
| Amounts payable | 17/49 | €42,075 | €48,313 | +€6,238 | +14.8% |
| Amounts payable within one year | 42/48 | €42,075 | €48,313 | +€6,238 | +14.8% |
| Trade debts | 44 | €20,000 | - | -€20,000 | |
| Suppliers | 440/4 | €20,000 | - | -€20,000 | |
| Taxes, remuneration and social security | 45 | €22,075 | €18,313 | -€3,762 | -17.0% |
| Taxes | 450/3 | €3,890 | €128 | -€3,762 | -96.7% |
| Remuneration and social security | 454/9 | €18,185 | €18,185 | = | 0.0% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,800 | €2,305 | -€495 | -17.7% |
| Other operating charges | 640/8 | €3 | €400 | +€397 | +13683.8% |
| Gross operating margin | 9900 | -€38,384 | -€68,334 | -€29,949 | -78.0% |
| Operating profit (loss) | 9901 | -€41,187 | -€71,038 | -€29,851 | -72.5% |
| Financial income | 75/76B | €22,711 | €72,307 | +€49,595 | +218.4% |
| Recurring financial income | 75 | €22,711 | €72,307 | +€49,595 | +218.4% |
| Financial charges | 65/66B | €611 | €728 | +€116 | +19.0% |
| Recurring financial charges | 65 | €611 | €728 | +€116 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,087 | €541 | +€19,628 | |
| Income taxes | 67/77 | - | €13 | +€13 | |
| Profit (loss) for the period | 9904 | -€19,087 | €528 | +€19,615 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,087 | €528 | +€19,615 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.