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
- Receivables within one year +€34,727
up €34,727 (+27.8%), from €124,726 to €159,453
- Cash -€16,095
down €16,095 (-29.4%), from €54,733 to €38,638
mainly Receivables within one year (-€34,727) and Provisions (-€11,930)
- Tangible fixed assets -€3,842
down €3,842 (-17.8%), from €21,540 to €17,698
of which Land and buildings: -€4,270
- Profit (loss) carried forward +€58,763
up €58,763 (+84.5%), from -€69,521 to -€10,757
- Reserves -€35,790
down €35,790 (-95.1%), from €37,650 to €1,860
of which Tax-exempt reserves: -€35,790
- Provisions -€11,930
down €11,930 (-100.0%), from €11,930 to €0
- Other debts +€2,962
up €2,962 (+5.2%), from €57,126 to €60,088
- Gross operating margin -€3,294
down €3,294 (-16.0%), from €20,524 to €17,230
- Depreciation -€2,898
down €2,898 (-39.6%), from €7,322 to €4,424
- Other operating charges +€207
up €207 (+13.7%), from €1,512 to €1,719
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 | €201,697 | €215,817 | +€14,119 | +7.0% |
| Fixed assets | 21/28 | €21,568 | €17,726 | -€3,842 | -17.8% |
| Tangible fixed assets | 22/27 | €21,540 | €17,698 | -€3,842 | -17.8% |
| Land and buildings | 22 | €21,540 | €17,270 | -€4,270 | -19.8% |
| Plant, machinery and equipment | 23 | - | €428 | +€428 | |
| Financial fixed assets | 28 | €28 | €28 | = | 0.0% |
| Current assets | 29/58 | €180,129 | €198,090 | +€17,961 | +10.0% |
| Amounts receivable within one year | 40/41 | €124,726 | €159,453 | +€34,727 | +27.8% |
| Trade receivables | 40 | €124,726 | €159,453 | +€34,727 | +27.8% |
| Cash at bank and in hand | 54/58 | €54,733 | €38,638 | -€16,095 | -29.4% |
| Deferred charges and accrued income | 490/1 | €670 | €0 | -€670 | -100.0% |
| Total equity and liabilities | 10/49 | €201,697 | €215,817 | +€14,119 | +7.0% |
| Equity | 10/15 | -€13,271 | €9,703 | +€22,974 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,650 | €1,860 | -€35,790 | -95.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,790 | €0 | -€35,790 | -100.0% |
| Profit (loss) carried forward | 14 | -€69,521 | -€10,757 | +€58,763 | +84.5% |
| Provisions and deferred taxes | 16 | €11,930 | €0 | -€11,930 | -100.0% |
| Deferred taxes | 168 | €11,930 | €0 | -€11,930 | -100.0% |
| Amounts payable | 17/49 | €203,038 | €206,114 | +€3,076 | +1.5% |
| Amounts payable after more than one year | 17 | €145,000 | €145,000 | = | 0.0% |
| Financial debts | 170/4 | €145,000 | €145,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €58,038 | €61,114 | +€3,076 | +5.3% |
| Trade debts | 44 | €212 | €242 | +€30 | +13.9% |
| Suppliers | 440/4 | €212 | €242 | +€30 | +13.9% |
| Taxes, remuneration and social security | 45 | €700 | €784 | +€84 | +12.1% |
| Taxes | 450/3 | €700 | €784 | +€84 | +12.1% |
| Other amounts payable | 47/48 | €57,126 | €60,088 | +€2,962 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,322 | €4,424 | -€2,898 | -39.6% |
| Other operating charges | 640/8 | €1,512 | €1,719 | +€207 | +13.7% |
| Gross operating margin | 9900 | €20,524 | €17,230 | -€3,294 | -16.0% |
| Operating profit (loss) | 9901 | €11,689 | €11,087 | -€602 | -5.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €85 | €43 | -€42 | -49.5% |
| Recurring financial charges | 65 | €85 | €43 | -€42 | -49.5% |
| Profit (loss) for the period before taxes | 9903 | €11,604 | €11,044 | -€560 | -4.8% |
| Transfer from deferred taxes | 780 | - | €11,930 | +€11,930 | |
| Profit (loss) for the period | 9904 | €11,604 | €22,974 | +€11,370 | +98.0% |
| Transfer from tax-exempt reserves | 789 | - | €35,790 | +€35,790 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,604 | €58,763 | +€47,159 | +406.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.