WOLF: 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.
WOLF
Largest movements
- Receivables within one year +€49,786
up €49,786 (+249.4%), from €19,960 to €69,747
of which Trade receivables: +€49,928
- Tangible fixed assets +€26,463
up €26,463 (+50.4%), from €52,467 to €78,930
of which Furniture and vehicles: +€24,122
- Cash -€17,687
down €17,687 (-49.8%), from €35,534 to €17,848
mainly Investment in fixed assets (net) (-€52,519) and Receivables within one year (-€49,786)
- Deferred charges and accrued income +€4,205
up €4,205 (+592.0%), from €710 to €4,915
- Profit (loss) carried forward +€32,123
up €32,123 (+51.7%), from €62,130 to €94,252
- Tax, wage and social debts +€18,878
up €18,878 (+1168.1%), from €1,616 to €20,494
of which Taxes: +€17,758
- Trade debts +€11,220
up €11,220 (+349.2%), from €3,213 to €14,433
- Debts after one year -€5,000
down €5,000 (-16.7%), from €30,000 to €25,000
- Short-term financial debts +€2,352
up €2,352 (+3073.2%), from €77 to €2,428
- Gross operating margin +€29,863
up €29,863 (+49.2%), from €60,671 to €90,533
- Staff costs +€14,400
new in 2025: €14,400
- Depreciation +€7,616
up €7,616 (+41.3%), from €18,440 to €26,056
- Taxes +€5,087
up €5,087 (+70.6%), from €7,209 to €12,296
- Financial charges +€2,380
up €2,380 (+136.7%), from €1,742 to €4,122
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 | €109,172 | €171,939 | +€62,767 | +57.5% |
| Fixed assets | 21/28 | €52,467 | €78,930 | +€26,463 | +50.4% |
| Tangible fixed assets | 22/27 | €52,467 | €78,930 | +€26,463 | +50.4% |
| Plant, machinery and equipment | 23 | €16,788 | €19,896 | +€3,108 | +18.5% |
| Furniture and vehicles | 24 | €19,915 | €44,037 | +€24,122 | +121.1% |
| Other tangible fixed assets | 26 | €15,765 | €14,997 | -€768 | -4.9% |
| Current assets | 29/58 | €56,705 | €93,009 | +€36,304 | +64.0% |
| Stocks and contracts in progress | 3 | €500 | €500 | = | 0.0% |
| Stocks | 30/36 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,960 | €69,747 | +€49,786 | +249.4% |
| Trade receivables | 40 | €19,550 | €69,478 | +€49,928 | +255.4% |
| Other amounts receivable | 41 | €410 | €269 | -€141 | -34.4% |
| Cash at bank and in hand | 54/58 | €35,534 | €17,848 | -€17,687 | -49.8% |
| Deferred charges and accrued income | 490/1 | €710 | €4,915 | +€4,205 | +592.0% |
| Total equity and liabilities | 10/49 | €109,172 | €171,939 | +€62,767 | +57.5% |
| Equity | 10/15 | €72,130 | €104,252 | +€32,123 | +44.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,130 | €94,252 | +€32,123 | +51.7% |
| Amounts payable | 17/49 | €37,043 | €67,687 | +€30,644 | +82.7% |
| Amounts payable after more than one year | 17 | €30,000 | €25,000 | -€5,000 | -16.7% |
| Financial debts | 170/4 | €30,000 | €25,000 | -€5,000 | -16.7% |
| Amounts payable within one year | 42/48 | €7,043 | €41,094 | +€34,051 | +483.5% |
| Financial debts | 43 | €77 | €2,428 | +€2,352 | +3073.2% |
| Credit institutions | 430/8 | €77 | €2,428 | +€2,352 | +3073.2% |
| Trade debts | 44 | €3,213 | €14,433 | +€11,220 | +349.2% |
| Suppliers | 440/4 | €3,213 | €14,433 | +€11,220 | +349.2% |
| Taxes, remuneration and social security | 45 | €1,616 | €20,494 | +€18,878 | +1168.1% |
| Taxes | 450/3 | €1,616 | €19,374 | +€17,758 | +1098.9% |
| Remuneration and social security | 454/9 | - | €1,119 | +€1,119 | |
| Other amounts payable | 47/48 | €2,137 | €3,739 | +€1,602 | +75.0% |
| Accrued charges and deferred income | 492/3 | €0 | €1,593 | +€1,593 | |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | - | €14,400 | +€14,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,440 | €26,056 | +€7,616 | +41.3% |
| Other operating charges | 640/8 | €1,072 | €1,540 | +€468 | +43.6% |
| Non-recurring operating charges | 66A | €2,729 | €0 | -€2,729 | -100.0% |
| Gross operating margin | 9900 | €60,671 | €90,533 | +€29,863 | +49.2% |
| Operating profit (loss) | 9901 | €38,430 | €48,537 | +€10,107 | +26.3% |
| Financial income | 75/76B | €41 | €3 | -€38 | -91.8% |
| Recurring financial income | 75 | €41 | €3 | -€38 | -91.8% |
| Financial charges | 65/66B | €1,742 | €4,122 | +€2,380 | +136.7% |
| Recurring financial charges | 65 | €1,742 | €4,122 | +€2,380 | +136.7% |
| Profit (loss) for the period before taxes | 9903 | €36,729 | €44,419 | +€7,690 | +20.9% |
| Income taxes | 67/77 | €7,209 | €12,296 | +€5,087 | +70.6% |
| Profit (loss) for the period | 9904 | €29,520 | €32,123 | +€2,603 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,520 | €32,123 | +€2,603 | +8.8% |
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 6 October 2026 via checked.be.