WOLF: 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.
WOLF
Largest movements
- Tangible fixed assets -€16,183
down €16,183 (-11.6%), from €139,358 to €123,174
- Cash -€3,657
down €3,657 (-46.5%), from €7,871 to €4,214
mainly Debts after one year (-€11,214) and Other debts (-€9,000)
- Formation expenses -€2,661
down €2,661 (-27.9%), from €9,528 to €6,867
- Debts after one year -€11,214
down €11,214 (-85.7%), from €13,092 to €1,878
- Other debts -€9,000
down €9,000 (-8.6%), from €104,579 to €95,579
- Reserves -€1,932
down €1,932 (-7.5%), from €25,712 to €23,780
- Gross operating margin +€6,495
up €6,495 (+20.7%), from €31,376 to €37,871
- Depreciation +€5,027
up €5,027 (+36.4%), from €13,817 to €18,844
- Staff costs +€4,705
up €4,705 (+32.4%), from €14,519 to €19,224
- Other operating charges -€1,252
down €1,252 (-47.5%), from €2,639 to €1,387
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 | €158,185 | €134,703 | -€23,482 | -14.8% |
| Formation expenses | 20 | €9,528 | €6,867 | -€2,661 | -27.9% |
| Fixed assets | 21/28 | €139,358 | €123,174 | -€16,183 | -11.6% |
| Tangible fixed assets | 22/27 | €139,358 | €123,174 | -€16,183 | -11.6% |
| Furniture and vehicles | 24 | €139,358 | €123,174 | -€16,183 | -11.6% |
| Current assets | 29/58 | €9,299 | €4,661 | -€4,637 | -49.9% |
| Stocks and contracts in progress | 3 | €700 | - | -€700 | |
| Stocks | 30/36 | €700 | - | -€700 | |
| Amounts receivable within one year | 40/41 | €728 | €447 | -€281 | -38.6% |
| Other amounts receivable | 41 | €728 | €447 | -€281 | -38.6% |
| Cash at bank and in hand | 54/58 | €7,871 | €4,214 | -€3,657 | -46.5% |
| Total equity and liabilities | 10/49 | €158,185 | €134,703 | -€23,482 | -14.8% |
| Equity | 10/15 | €26,212 | €24,280 | -€1,932 | -7.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €25,712 | €23,780 | -€1,932 | -7.5% |
| Distributable reserves | 133 | €25,712 | €23,780 | -€1,932 | -7.5% |
| Amounts payable | 17/49 | €131,973 | €110,423 | -€21,550 | -16.3% |
| Amounts payable after more than one year | 17 | €13,092 | €1,878 | -€11,214 | -85.7% |
| Financial debts | 170/4 | €13,092 | €1,878 | -€11,214 | -85.7% |
| Amounts payable within one year | 42/48 | €118,881 | €108,545 | -€10,336 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €11,118 | €11,214 | +€96 | +0.9% |
| Trade debts | 44 | €2,956 | €1,752 | -€1,205 | -40.7% |
| Suppliers | 440/4 | €2,956 | €1,752 | -€1,205 | -40.7% |
| Taxes, remuneration and social security | 45 | €227 | - | -€227 | |
| Remuneration and social security | 454/9 | €227 | - | -€227 | |
| Other amounts payable | 47/48 | €104,579 | €95,579 | -€9,000 | -8.6% |
| Remuneration, social security and pensions | 62 | €14,519 | €19,224 | +€4,705 | +32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,817 | €18,844 | +€5,027 | +36.4% |
| Other operating charges | 640/8 | €2,639 | €1,387 | -€1,252 | -47.5% |
| Gross operating margin | 9900 | €31,376 | €37,871 | +€6,495 | +20.7% |
| Operating profit (loss) | 9901 | €401 | -€1,584 | -€1,985 | |
| Financial income | 75/76B | €34 | €0 | -€34 | -99.5% |
| Recurring financial income | 75 | €34 | €0 | -€34 | -99.5% |
| Financial charges | 65/66B | €423 | €349 | -€74 | -17.6% |
| Recurring financial charges | 65 | €423 | €349 | -€74 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €12 | -€1,932 | -€1,944 | |
| Profit (loss) for the period | 9904 | €12 | -€1,932 | -€1,944 | |
| Profit (loss) for the period to be appropriated | 9905 | €12 | -€1,932 | -€1,944 |
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 10 October 2026 via checked.be.