Wolf Management: 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 Management
Largest movements
- Receivables within one year +€90,273
up €90,273 (+136.6%), from €66,108 to €156,381
of which Trade receivables: +€92,365
- Financial fixed assets -€65,316
no longer reported in 2025 (was €65,316)
- Receivables after one year +€65,316
up €65,316 (+353.1%), from €18,500 to €83,816
- Cash -€24,075
down €24,075 (-84.1%), from €28,610 to €4,535
mainly Receivables within one year (-€90,273) and Receivables after one year (-€65,316)
- Tangible fixed assets +€11,418
up €11,418 (+111.0%), from €10,286 to €21,704
- Other debts +€37,268
up €37,268 (+32.0%), from €116,535 to €153,803
- Profit (loss) carried forward +€31,293
up €31,293 (+47.5%), from €65,891 to €97,185
- Tax, wage and social debts +€11,430
up €11,430 (+662.5%), from €1,725 to €13,155
- Gross operating margin +€98,866
up €98,866 (+402.6%), from €24,555 to €123,421
- Financial charges +€48,776
up €48,776 (+224.1%), from €21,766 to €70,542
of which Non-recurring financial charges: +€63,000
- Taxes +€11,623
up €11,623 (+825.0%), from €1,409 to €13,032
- Depreciation +€2,687
up €2,687 (+109.8%), from €2,446 to €5,134
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 | €188,820 | €266,436 | +€77,616 | +41.1% |
| Fixed assets | 21/28 | €75,602 | €21,704 | -€53,898 | -71.3% |
| Tangible fixed assets | 22/27 | €10,286 | €21,704 | +€11,418 | +111.0% |
| Furniture and vehicles | 24 | €10,286 | €21,704 | +€11,418 | +111.0% |
| Financial fixed assets | 28 | €65,316 | - | -€65,316 | |
| Current assets | 29/58 | €113,218 | €244,732 | +€131,514 | +116.2% |
| Amounts receivable after more than one year | 29 | €18,500 | €83,816 | +€65,316 | +353.1% |
| Other amounts receivable | 291 | €18,500 | €83,816 | +€65,316 | +353.1% |
| Amounts receivable within one year | 40/41 | €66,108 | €156,381 | +€90,273 | +136.6% |
| Trade receivables | 40 | €63,000 | €155,365 | +€92,365 | +146.6% |
| Other amounts receivable | 41 | €3,108 | €1,016 | -€2,092 | -67.3% |
| Cash at bank and in hand | 54/58 | €28,610 | €4,535 | -€24,075 | -84.1% |
| Total equity and liabilities | 10/49 | €188,820 | €266,436 | +€77,616 | +41.1% |
| Equity | 10/15 | €67,891 | €99,185 | +€31,293 | +46.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,891 | €97,185 | +€31,293 | +47.5% |
| Amounts payable | 17/49 | €120,929 | €167,251 | +€46,322 | +38.3% |
| Amounts payable within one year | 42/48 | €120,929 | €167,251 | +€46,322 | +38.3% |
| Trade debts | 44 | €2,669 | €293 | -€2,376 | -89.0% |
| Suppliers | 440/4 | €2,669 | €293 | -€2,376 | -89.0% |
| Taxes, remuneration and social security | 45 | €1,725 | €13,155 | +€11,430 | +662.5% |
| Taxes | 450/3 | €1,725 | €13,155 | +€11,430 | +662.5% |
| Other amounts payable | 47/48 | €116,535 | €153,803 | +€37,268 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,446 | €5,134 | +€2,687 | +109.8% |
| Other operating charges | 640/8 | €4,312 | €3,420 | -€893 | -20.7% |
| Gross operating margin | 9900 | €24,555 | €123,421 | +€98,866 | +402.6% |
| Operating profit (loss) | 9901 | €17,796 | €114,867 | +€97,071 | +545.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €21,766 | €70,542 | +€48,776 | +224.1% |
| Recurring financial charges | 65 | €21,766 | €7,542 | -€14,224 | -65.3% |
| Non-recurring financial charges | 66B | - | €63,000 | +€63,000 | |
| Profit (loss) for the period before taxes | 9903 | -€3,970 | €44,325 | +€48,295 | |
| Income taxes | 67/77 | €1,409 | €13,032 | +€11,623 | +825.0% |
| Profit (loss) for the period | 9904 | -€5,379 | €31,293 | +€36,672 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,379 | €31,293 | +€36,672 |
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 30 September 2026 via checked.be.