Witte Raven Advies: 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.
Witte Raven Advies
Largest movements
- Receivables within one year +€5,791
up €5,791 (+30.9%), from €18,729 to €24,520
of which Trade receivables: +€4,090
- Cash -€2,763
down €2,763 (-3.8%), from €72,212 to €69,449
mainly Receivables within one year (-€5,791) and Trade debts (-€5,152)
- Tangible fixed assets -€2,397
down €2,397 (-40.1%), from €5,979 to €3,581
- Reserves +€5,580
up €5,580 (+7.9%), from €70,811 to €76,391
- Trade debts -€5,152
down €5,152 (-55.9%), from €9,216 to €4,064
- Tax, wage and social debts +€1,800
up €1,800 (+146%), from €1,235 to €3,034
of which Taxes: +€1,464
- Other debts -€1,556
down €1,556 (-95.2%), from €1,635 to €79
- Gross operating margin -€53,375
down €53,375 (-73.4%), from €72,745 to €19,371
- Taxes -€15,134
down €15,134 (-71.8%), from €21,082 to €5,947
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.
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.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €103,282 | €103,953 | +€671 | +0.7% |
| Fixed assets | 21/28 | €5,979 | €3,581 | -€2,397 | -40.1% |
| Tangible fixed assets | 22/27 | €5,979 | €3,581 | -€2,397 | -40.1% |
| Furniture and vehicles | 24 | €5,979 | €3,581 | -€2,397 | -40.1% |
| Current assets | 29/58 | €97,303 | €100,372 | +€3,069 | +3.2% |
| Amounts receivable within one year | 40/41 | €18,729 | €24,520 | +€5,791 | +30.9% |
| Trade receivables | 40 | €16,385 | €20,475 | +€4,090 | +25.0% |
| Other amounts receivable | 41 | €2,344 | €4,045 | +€1,701 | +72.6% |
| Cash at bank and in hand | 54/58 | €72,212 | €69,449 | -€2,763 | -3.8% |
| Deferred charges and accrued income | 490/1 | €6,363 | €6,404 | +€41 | +0.6% |
| Total equity and liabilities | 10/49 | €103,282 | €103,953 | +€671 | +0.7% |
| Equity | 10/15 | €91,196 | €96,776 | +€5,580 | +6.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €70,811 | €76,391 | +€5,580 | +7.9% |
| Distributable reserves | 133 | €70,811 | €76,391 | +€5,580 | +7.9% |
| Profit (loss) carried forward | 14 | €385 | €385 | = | 0.0% |
| Amounts payable | 17/49 | €12,085 | €7,177 | -€4,908 | -40.6% |
| Amounts payable within one year | 42/48 | €12,085 | €7,177 | -€4,908 | -40.6% |
| Trade debts | 44 | €9,216 | €4,064 | -€5,152 | -55.9% |
| Suppliers | 440/4 | €9,216 | €4,064 | -€5,152 | -55.9% |
| Taxes, remuneration and social security | 45 | €1,235 | €3,034 | +€1,800 | +146% |
| Taxes | 450/3 | €35 | €1,498 | +€1,464 | +4,222% |
| Remuneration and social security | 454/9 | €1,200 | €1,536 | +€336 | +28.0% |
| Other amounts payable | 47/48 | €1,635 | €79 | -€1,556 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,935 | €2,397 | +€462 | +23.9% |
| Other operating charges | 640/8 | €1,281 | €1,605 | +€324 | +25.3% |
| Gross operating margin | 9900 | €72,745 | €19,371 | -€53,375 | -73.4% |
| Operating profit (loss) | 9901 | €69,529 | €15,368 | -€54,161 | -77.9% |
| Financial income | 75/76B | €9 | €23 | +€13 | +140% |
| Recurring financial income | 75 | €9 | €23 | +€13 | +140% |
| Financial charges | 65/66B | €660 | €459 | -€201 | -30.5% |
| Recurring financial charges | 65 | €660 | €459 | -€201 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €68,878 | €14,931 | -€53,947 | -78.3% |
| Income taxes | 67/77 | €21,082 | €5,947 | -€15,134 | -71.8% |
| Profit (loss) for the period | 9904 | €47,796 | €8,984 | -€38,812 | -81.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,796 | €8,984 | -€38,812 | -81.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.