Whiteout Ventures: 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.
Whiteout Ventures
Largest movements
- Current investments -€116,570
down €116,570 (-40.6%), from €286,818 to €170,247
- Cash +€27,875
up €27,875 (+178.7%), from €15,601 to €43,476
mainly Net result for the year (+€196,531) and Other debts (+€160,724)
- Tangible fixed assets -€10,101
down €10,101 (-26.2%), from €38,484 to €28,383
of which Furniture and vehicles: -€12,699
- Reserves -€243,469
down €243,469 (-85.1%), from €285,987 to €42,517
- Other debts +€160,724
up €160,724 (+1128.6%), from €14,241 to €174,964
- Tax, wage and social debts -€17,435
down €17,435 (-25.8%), from €67,535 to €50,099
of which Taxes: -€17,435
- Gross operating margin +€62,654
up €62,654 (+31.5%), from €198,630 to €261,284
- Taxes +€14,009
up €14,009 (+30.8%), from €45,557 to €59,567
- Financial income -€2,824
down €2,824 (-21.9%), from €12,879 to €10,056
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 | €372,482 | €274,212 | -€98,270 | -26.4% |
| Fixed assets | 21/28 | €38,484 | €28,383 | -€10,101 | -26.2% |
| Tangible fixed assets | 22/27 | €38,484 | €28,383 | -€10,101 | -26.2% |
| Furniture and vehicles | 24 | €38,484 | €25,785 | -€12,699 | -33.0% |
| Other tangible fixed assets | 26 | - | €2,599 | +€2,599 | |
| Current assets | 29/58 | €333,998 | €245,829 | -€88,169 | -26.4% |
| Amounts receivable within one year | 40/41 | €31,329 | €32,106 | +€777 | +2.5% |
| Trade receivables | 40 | €31,329 | €31,353 | +€24 | +0.1% |
| Other amounts receivable | 41 | - | €753 | +€753 | |
| Current investments | 50/53 | €286,818 | €170,247 | -€116,570 | -40.6% |
| Cash at bank and in hand | 54/58 | €15,601 | €43,476 | +€27,875 | +178.7% |
| Deferred charges and accrued income | 490/1 | €251 | €0 | -€251 | -100.0% |
| Total equity and liabilities | 10/49 | €372,482 | €274,212 | -€98,270 | -26.4% |
| Equity | 10/15 | €288,987 | €45,517 | -€243,469 | -84.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €285,987 | €42,517 | -€243,469 | -85.1% |
| Distributable reserves | 133 | €285,987 | €42,517 | -€243,469 | -85.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €83,495 | €228,695 | +€145,200 | +173.9% |
| Amounts payable within one year | 42/48 | €82,719 | €227,448 | +€144,728 | +175.0% |
| Trade debts | 44 | €944 | €2,384 | +€1,440 | +152.5% |
| Suppliers | 440/4 | €944 | €2,384 | +€1,440 | +152.5% |
| Taxes, remuneration and social security | 45 | €67,535 | €50,099 | -€17,435 | -25.8% |
| Taxes | 450/3 | €64,970 | €47,534 | -€17,435 | -26.8% |
| Remuneration and social security | 454/9 | €2,565 | €2,565 | = | 0.0% |
| Other amounts payable | 47/48 | €14,241 | €174,964 | +€160,724 | +1128.6% |
| Accrued charges and deferred income | 492/3 | €776 | €1,247 | +€471 | +60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,159 | €13,230 | +€1,072 | +8.8% |
| Other operating charges | 640/8 | €126 | €536 | +€410 | +325.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €198,630 | €261,284 | +€62,654 | +31.5% |
| Operating profit (loss) | 9901 | €186,345 | €247,518 | +€61,172 | +32.8% |
| Financial income | 75/76B | €12,879 | €10,056 | -€2,824 | -21.9% |
| Recurring financial income | 75 | €12,879 | €10,056 | -€2,824 | -21.9% |
| Financial charges | 65/66B | €1,519 | €1,476 | -€43 | -2.9% |
| Recurring financial charges | 65 | €1,519 | €1,476 | -€43 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €197,705 | €256,097 | +€58,392 | +29.5% |
| Income taxes | 67/77 | €45,557 | €59,567 | +€14,009 | +30.8% |
| Profit (loss) for the period | 9904 | €152,148 | €196,531 | +€44,383 | +29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €152,148 | €196,531 | +€44,383 | +29.2% |
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.