WHITEFIELD: 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.
What changed
WHITEFIELD
NACE 64.210, Activities of holding companies
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€187,215
2025 · €324,246-€137,031
Equity
€8.5m
2025 · €8.5m+€57,215
Cash
€1.9m
2025 · €2.0m-€98,751
Balance sheet total
€8.9m
2025 · €9.0m-€87,716
Largest movements
Assets
- Cash -€98,751
down €98,751 (-5.0%), from €2.0m to €1.9m
mainly Contributions, distributions and other (-€130,000) and Debts after one year (-€107,936)
Equity and liabilities
- Debts after one year -€107,936
down €107,936 (-64.7%), from €166,792 to €58,856
Income statement
- Gross operating margin -€145,220
down €145,220 (-25.8%), from €562,304 to €417,084
- Taxes -€42,041
down €42,041 (-35.9%), from €117,047 to €75,006
- Financial income -€30,185
down €30,185 (-32.4%), from €93,080 to €62,895
From the 2025 result to the 2026 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.
Result 2025
€324,246
Gross operating margin
-€145,220
Staff costs
-€5,061
Depreciation
-€319
Other operating charges
-€87
Financial income
-€30,185
Financial charges
+€1,800
Taxes
+€42,041
Result 2026
€187,215
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€165,391
Investment
-€3,020
Financing
-€261,123
Cash 2025
€2.0m
From operations (derived)
+€165,391
Net result for the year
+€187,215
Depreciation
+€73,169
Receivables after one year
+€3,378
Receivables within one year
-€79,588
Deferred charges and accrued income
-€4,974
Trade debts
+€1,210
Tax, wage and social debts
+€39,264
Other debts
-€54,282
Investment (derived)
-€3,020
Investment in fixed assets (net)
-€3,020
Financing
-€261,123
Debts after one year
-€107,936
Current portion of long-term debt
-€23,187
Contributions, distributions and other
-€130,000
Cash 2026
€1.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,021,569 | €8,933,853 | -€87,716 | -1.0% |
| Fixed assets | 21/28 | €5,712,711 | €5,642,561 | -€70,149 | -1.2% |
| Tangible fixed assets | 22/27 | €276,918 | €206,769 | -€70,149 | -25.3% |
| Land and buildings | 22 | €57,163 | €54,087 | -€3,076 | -5.4% |
| Furniture and vehicles | 24 | €219,755 | €152,682 | -€67,073 | -30.5% |
| Financial fixed assets | 28 | €5,435,793 | €5,435,793 | = | 0.0% |
| Current assets | 29/58 | €3,308,859 | €3,291,292 | -€17,567 | -0.5% |
| Amounts receivable after more than one year | 29 | €513,100 | €509,722 | -€3,378 | -0.7% |
| Other amounts receivable | 291 | €513,100 | €509,722 | -€3,378 | -0.7% |
| Amounts receivable within one year | 40/41 | €617,270 | €696,858 | +€79,588 | +12.9% |
| Trade receivables | 40 | €109,512 | €152,702 | +€43,190 | +39.4% |
| Other amounts receivable | 41 | €507,758 | €544,156 | +€36,398 | +7.2% |
| Current investments | 50/53 | €190,000 | €190,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,988,488 | €1,889,737 | -€98,751 | -5.0% |
| Deferred charges and accrued income | 490/1 | - | €4,974 | +€4,974 | |
| Total equity and liabilities | 10/49 | €9,021,569 | €8,933,853 | -€87,716 | -1.0% |
| Equity | 10/15 | €8,464,145 | €8,521,360 | +€57,215 | +0.7% |
| Contributions | 10/11 | €560,000 | €560,000 | = | 0.0% |
| Reserves | 13 | €7,904,145 | €7,961,360 | +€57,215 | +0.7% |
| Distributable reserves | 133 | €7,904,145 | €7,961,360 | +€57,215 | +0.7% |
| Amounts payable | 17/49 | €557,424 | €412,493 | -€144,931 | -26.0% |
| Amounts payable after more than one year | 17 | €166,792 | €58,856 | -€107,936 | -64.7% |
| Financial debts | 170/4 | €166,792 | €58,856 | -€107,936 | -64.7% |
| Amounts payable within one year | 42/48 | €390,632 | €353,637 | -€36,995 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €131,123 | €107,936 | -€23,187 | -17.7% |
| Trade debts | 44 | - | €1,210 | +€1,210 | |
| Suppliers | 440/4 | - | €1,210 | +€1,210 | |
| Taxes, remuneration and social security | 45 | €66,295 | €105,558 | +€39,264 | +59.2% |
| Taxes | 450/3 | €54,539 | €93,616 | +€39,077 | +71.7% |
| Remuneration and social security | 454/9 | €11,756 | €11,943 | +€187 | +1.6% |
| Other amounts payable | 47/48 | €193,215 | €138,933 | -€54,282 | -28.1% |
| Remuneration, social security and pensions | 62 | €131,017 | €136,078 | +€5,061 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,849 | €73,169 | +€319 | +0.4% |
| Other operating charges | 640/8 | €3,637 | €3,725 | +€87 | +2.4% |
| Gross operating margin | 9900 | €562,304 | €417,084 | -€145,220 | -25.8% |
| Operating profit (loss) | 9901 | €354,801 | €204,113 | -€150,688 | -42.5% |
| Financial income | 75/76B | €93,080 | €62,895 | -€30,185 | -32.4% |
| Recurring financial income | 75 | €93,080 | €62,895 | -€30,185 | -32.4% |
| Financial charges | 65/66B | €6,587 | €4,787 | -€1,800 | -27.3% |
| Recurring financial charges | 65 | €6,587 | €4,787 | -€1,800 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €441,293 | €262,221 | -€179,073 | -40.6% |
| Income taxes | 67/77 | €117,047 | €75,006 | -€42,041 | -35.9% |
| Profit (loss) for the period | 9904 | €324,246 | €187,215 | -€137,031 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €324,246 | €187,215 | -€137,031 | -42.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.