WOLFCARIUS-BRUYNEEL: 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.
What changed
WOLFCARIUS-BRUYNEEL
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€209,194
2024 · €349,340-€140,145
Equity
€1.2m
2024 · €1.2m
Cash
€485,432
2024 · €1.9m-€1.4m
Balance sheet total
€1.6m
2024 · €2.0m-€443,821
Largest movements
Assets
- Cash -€1.4m
down €1.4m (-74.2%), from €1.9m to €485,432
mainly Current investments (-€1.0m) and Other debts (-€451,515)
- Current investments +€1.0m
up €1.0m, from €0 to €1.0m
- Intangible fixed assets -€32,003
down €32,003 (-78.5%), from €40,751 to €8,748
Equity and liabilities
- Other debts -€451,515
down €451,515 (-64.3%), from €701,672 to €250,157
Income statement
- Gross operating margin -€162,832
down €162,832 (-30.0%), from €542,863 to €380,031
- Taxes -€25,428
down €25,428 (-23.4%), from €108,469 to €83,041
- Financial income -€9,975
down €9,975 (-35.2%), from €28,348 to €18,373
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.
Result 2024
€349,340
Gross operating margin
-€162,832
Staff costs
+€4,112
Depreciation
-€1,036
Other operating charges
+€744
Other operating items
+€3,975
Financial income
-€9,975
Financial charges
-€560
Taxes
+€25,428
Result 2025
€209,194
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€188,836
Investment
-€1.0m
Financing
-€209,194
Cash 2024
€1.9m
From operations (derived)
-€188,836
Net result for the year
+€209,194
Depreciation
+€41,719
Receivables within one year
+€4,570
Deferred charges and accrued income
-€498
Trade debts
+€2,769
Tax, wage and social debts
+€4,925
Other debts
-€451,515
Investment (derived)
-€1.0m
Current investments
-€1.0m
Financing
-€209,194
Contributions, distributions and other
-€209,194
Cash 2025
€485,432
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,005,146 | €1,561,325 | -€443,821 | -22.1% |
| Fixed assets | 21/28 | €77,824 | €36,105 | -€41,719 | -53.6% |
| Intangible fixed assets | 21 | €40,751 | €8,748 | -€32,003 | -78.5% |
| Tangible fixed assets | 22/27 | €37,073 | €27,357 | -€9,716 | -26.2% |
| Furniture and vehicles | 24 | €37,073 | €27,357 | -€9,716 | -26.2% |
| Current assets | 29/58 | €1,927,322 | €1,525,221 | -€402,102 | -20.9% |
| Amounts receivable within one year | 40/41 | €43,861 | €39,291 | -€4,570 | -10.4% |
| Other amounts receivable | 41 | €43,861 | €39,291 | -€4,570 | -10.4% |
| Current investments | 50/53 | €0 | €1,000,000 | +€1.0m | |
| Cash at bank and in hand | 54/58 | €1,883,462 | €485,432 | -€1.4m | -74.2% |
| Deferred charges and accrued income | 490/1 | - | €498 | +€498 | |
| Total equity and liabilities | 10/49 | €2,005,146 | €1,561,325 | -€443,821 | -22.1% |
| Equity | 10/15 | €1,241,657 | €1,241,657 | = | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,179,657 | €1,179,657 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,173,457 | €1,173,457 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €763,489 | €319,668 | -€443,821 | -58.1% |
| Amounts payable after more than one year | 17 | €37,184 | €37,184 | = | 0.0% |
| Other amounts payable | 178/9 | €37,184 | €37,184 | = | 0.0% |
| Amounts payable within one year | 42/48 | €726,305 | €282,484 | -€443,821 | -61.1% |
| Trade debts | 44 | €8,896 | €11,666 | +€2,769 | +31.1% |
| Suppliers | 440/4 | €8,896 | €11,666 | +€2,769 | +31.1% |
| Taxes, remuneration and social security | 45 | €15,737 | €20,662 | +€4,925 | +31.3% |
| Taxes | 450/3 | €10,696 | €12,590 | +€1,894 | +17.7% |
| Remuneration and social security | 454/9 | €5,041 | €8,072 | +€3,031 | +60.1% |
| Other amounts payable | 47/48 | €701,672 | €250,157 | -€451,515 | -64.3% |
| Remuneration, social security and pensions | 62 | €64,138 | €60,026 | -€4,112 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,683 | €41,719 | +€1,036 | +2.5% |
| Other operating charges | 640/8 | €2,456 | €1,712 | -€744 | -30.3% |
| Non-recurring operating charges | 66A | €3,975 | €0 | -€3,975 | -100% |
| Gross operating margin | 9900 | €542,863 | €380,031 | -€162,832 | -30.0% |
| Operating profit (loss) | 9901 | €431,612 | €276,574 | -€155,038 | -35.9% |
| Financial income | 75/76B | €28,348 | €18,373 | -€9,975 | -35.2% |
| Recurring financial income | 75 | €28,348 | €18,373 | -€9,975 | -35.2% |
| Financial charges | 65/66B | €2,151 | €2,711 | +€560 | +26.1% |
| Recurring financial charges | 65 | €2,151 | €2,711 | +€560 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | €457,809 | €292,236 | -€165,573 | -36.2% |
| Income taxes | 67/77 | €108,469 | €83,041 | -€25,428 | -23.4% |
| Profit (loss) for the period | 9904 | €349,340 | €209,194 | -€140,145 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €349,340 | €209,194 | -€140,145 | -40.1% |
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 29 October 2026 via checked.be.