WHITE WOLVES: 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 WOLVES
Largest movements
- Receivables within one year -€49,195
down €49,195 (-59.4%), from €82,797 to €33,602
of which Trade receivables: -€53,226
- Deferred charges and accrued income +€1,020
up €1,020 (+1064.6%), from €96 to €1,116
- Profit (loss) carried forward -€130,065
down €130,065 (-359.1%), from -€36,219 to -€166,284
- Other debts +€84,333
up €84,333 (+187.4%), from €45,000 to €129,333
- Tax, wage and social debts -€7,638
down €7,638 (-51.3%), from €14,877 to €7,239
of which Remuneration and social security: -€7,072
- Trade debts +€7,195
up €7,195 (+25.6%), from €28,155 to €35,351
- Accrued charges and deferred income -€1,448
no longer reported in 2025 (was €1,448)
- Gross operating margin -€111,579
down €111,579, from €77,205 to -€34,374
- Staff costs +€35,734
up €35,734 (+61.1%), from €58,465 to €94,198
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 | €93,262 | €45,639 | -€47,623 | -51.1% |
| Current assets | 29/58 | €93,262 | €45,639 | -€47,623 | -51.1% |
| Amounts receivable within one year | 40/41 | €82,797 | €33,602 | -€49,195 | -59.4% |
| Trade receivables | 40 | €74,006 | €20,779 | -€53,226 | -71.9% |
| Other amounts receivable | 41 | €8,792 | €12,822 | +€4,031 | +45.8% |
| Cash at bank and in hand | 54/58 | €10,369 | €10,922 | +€553 | +5.3% |
| Deferred charges and accrued income | 490/1 | €96 | €1,116 | +€1,020 | +1064.6% |
| Total equity and liabilities | 10/49 | €93,262 | €45,639 | -€47,623 | -51.1% |
| Equity | 10/15 | €3,781 | -€126,284 | -€130,065 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,219 | -€166,284 | -€130,065 | -359.1% |
| Amounts payable | 17/49 | €89,480 | €171,923 | +€82,443 | +92.1% |
| Amounts payable within one year | 42/48 | €88,033 | €171,923 | +€83,890 | +95.3% |
| Trade debts | 44 | €28,155 | €35,351 | +€7,195 | +25.6% |
| Suppliers | 440/4 | €28,155 | €35,351 | +€7,195 | +25.6% |
| Taxes, remuneration and social security | 45 | €14,877 | €7,239 | -€7,638 | -51.3% |
| Taxes | 450/3 | €3,471 | €2,905 | -€566 | -16.3% |
| Remuneration and social security | 454/9 | €11,406 | €4,334 | -€7,072 | -62.0% |
| Other amounts payable | 47/48 | €45,000 | €129,333 | +€84,333 | +187.4% |
| Accrued charges and deferred income | 492/3 | €1,448 | - | -€1,448 | |
| Remuneration, social security and pensions | 62 | €58,465 | €94,198 | +€35,734 | +61.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374 | - | -€374 | |
| Other operating charges | 640/8 | €449 | €989 | +€540 | +120.2% |
| Gross operating margin | 9900 | €77,205 | -€34,374 | -€111,579 | |
| Operating profit (loss) | 9901 | €17,917 | -€129,562 | -€147,478 | |
| Financial charges | 65/66B | €180 | €256 | +€76 | +42.6% |
| Recurring financial charges | 65 | €180 | €256 | +€76 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €17,737 | -€129,818 | -€147,555 | |
| Income taxes | 67/77 | €251 | €248 | -€3 | -1.1% |
| Profit (loss) for the period | 9904 | €17,487 | -€130,065 | -€147,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,487 | -€130,065 | -€147,552 |
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 5 October 2026 via checked.be.