WOLF CAPITAL: 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 CAPITAL
Largest movements
- Tangible fixed assets +€516,827
up €516,827 (+61.9%), from €835,163 to €1.4m
of which Land and buildings: +€492,213
- Cash +€41,833
up €41,833 (+35.7%), from €117,251 to €159,084
mainly Debts after one year (+€380,844) and Short-term financial debts (+€115,000)
- Debts after one year +€380,844
up €380,844 (+78.0%), from €488,522 to €869,366
- Short-term financial debts +€115,000
new in 2025: €115,000
- Reserves +€53,619
up €53,619 (+11.4%), from €468,363 to €521,982
of which Distributable reserves: +€53,619
- Tax, wage and social debts +€20,148
up €20,148 (+51.4%), from €39,207 to €59,355
- Financial income -€36,819
down €36,819 (-96.9%), from €37,992 to €1,173
of which Financial income: -€34,193
- Gross operating margin +€28,397
up €28,397 (+25.8%), from €110,054 to €138,451
- Depreciation +€17,127
up €17,127 (+151%), from €11,309 to €28,436
- Taxes -€12,135
down €12,135 (-29.7%), from €40,885 to €28,751
- Financial charges +€12,105
up €12,105 (+78.9%), from €15,347 to €27,451
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.
Derived cash bridge
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 | €1,094,753 | €1,655,921 | +€561,168 | +51.3% |
| Fixed assets | 21/28 | €835,338 | €1,352,165 | +€516,827 | +61.9% |
| Tangible fixed assets | 22/27 | €835,163 | €1,351,990 | +€516,827 | +61.9% |
| Land and buildings | 22 | €834,473 | €1,326,686 | +€492,213 | +59.0% |
| Plant, machinery and equipment | 23 | - | €5,935 | +€5,935 | |
| Furniture and vehicles | 24 | €690 | €19,369 | +€18,679 | +2,707% |
| Financial fixed assets | 28 | €174 | €174 | = | 0.0% |
| Current assets | 29/58 | €259,415 | €303,756 | +€44,341 | +17.1% |
| Amounts receivable within one year | 40/41 | €26,805 | €13,918 | -€12,887 | -48.1% |
| Trade receivables | 40 | €26,805 | €13,918 | -€12,887 | -48.1% |
| Current investments | 50/53 | €115,359 | €130,754 | +€15,395 | +13.3% |
| Cash at bank and in hand | 54/58 | €117,251 | €159,084 | +€41,833 | +35.7% |
| Total equity and liabilities | 10/49 | €1,094,753 | €1,655,921 | +€561,168 | +51.3% |
| Equity | 10/15 | €475,563 | €529,182 | +€53,619 | +11.3% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Reserves | 13 | €468,363 | €521,982 | +€53,619 | +11.4% |
| Non-distributable reserves | 130/1 | €975 | €975 | = | 0.0% |
| Reserves not available under the articles | 1311 | €975 | €975 | = | 0.0% |
| Distributable reserves | 133 | €467,388 | €521,007 | +€53,619 | +11.5% |
| Amounts payable | 17/49 | €619,190 | €1,126,739 | +€507,548 | +82.0% |
| Amounts payable after more than one year | 17 | €488,522 | €869,366 | +€380,844 | +78.0% |
| Financial debts | 170/4 | €488,522 | €869,366 | +€380,844 | +78.0% |
| Amounts payable within one year | 42/48 | €127,907 | €254,336 | +€126,429 | +98.8% |
| Current portion of amounts payable after more than one year | 42 | €22,709 | €25,907 | +€3,198 | +14.1% |
| Financial debts | 43 | - | €115,000 | +€115,000 | |
| Credit institutions | 430/8 | - | €115,000 | +€115,000 | |
| Trade debts | 44 | €61,549 | €52,320 | -€9,229 | -15.0% |
| Suppliers | 440/4 | €61,549 | €52,320 | -€9,229 | -15.0% |
| Taxes, remuneration and social security | 45 | €39,207 | €59,355 | +€20,148 | +51.4% |
| Taxes | 450/3 | €39,207 | €59,355 | +€20,148 | +51.4% |
| Other amounts payable | 47/48 | €4,442 | €1,754 | -€2,688 | -60.5% |
| Accrued charges and deferred income | 492/3 | €2,762 | €3,037 | +€275 | +10.0% |
| Non-recurring operating income | 76A | €3,762 | €424 | -€3,338 | -88.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,309 | €28,436 | +€17,127 | +151% |
| Other operating charges | 640/8 | €1,210 | €1,367 | +€156 | +12.9% |
| Gross operating margin | 9900 | €110,054 | €138,451 | +€28,397 | +25.8% |
| Operating profit (loss) | 9901 | €97,534 | €108,648 | +€11,114 | +11.4% |
| Financial income | 75/76B | €37,992 | €1,173 | -€36,819 | -96.9% |
| Recurring financial income | 75 | €35,366 | €1,173 | -€34,193 | -96.7% |
| Non-recurring financial income | 76B | €2,626 | - | -€2,626 | |
| Financial charges | 65/66B | €15,347 | €27,451 | +€12,105 | +78.9% |
| Recurring financial charges | 65 | €15,347 | €27,451 | +€12,105 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | €120,179 | €82,370 | -€37,810 | -31.5% |
| Income taxes | 67/77 | €40,885 | €28,751 | -€12,135 | -29.7% |
| Profit (loss) for the period | 9904 | €79,294 | €53,619 | -€25,675 | -32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €79,294 | €53,619 | -€25,675 | -32.4% |
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 19 October 2026 via checked.be.