WOLFCO: what changed
What changed
WOLFCO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€36,859
2024 · €46,277-€9,418
Equity
€278,731
2024 · €241,872+€36,859
Cash
€45,041
2024 · €12,165+€32,876
Balance sheet total
€1.9m
2024 · €1.3m+€618,532
Largest movements
Assets
- Stocks and contracts +€561,635
new in 2025: €561,635
- Receivables within one year +€38,900
up €38,900 (+39.5%), from €98,403 to €137,304
of which Trade receivables: +€36,300
- Cash +€32,876
up €32,876 (+270%), from €12,165 to €45,041
mainly Debts after one year (+€587,793) and Net result for the year (+€36,859)
Equity and liabilities
- Debts after one year +€587,793
up €587,793 (+60.7%), from €968,936 to €1.6m
- Profit (loss) carried forward +€36,859
up €36,859 (+15.4%), from €238,872 to €275,731
Income statement
- Financial charges +€12,168
up €12,168 (+162%), from €7,506 to €19,673
- Taxes -€2,922
down €2,922 (-22.4%), from €13,068 to €10,146
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€46,277
Gross operating margin
+€291
Depreciation
-€265
Other operating charges
-€199
Financial charges
-€12,168
Taxes
+€2,922
Result 2025
€36,859
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€552,622
Investment
-€3,118
Financing
+€588,616
Cash 2024
€12,165
From operations (derived)
-€552,622
Net result for the year
+€36,859
Depreciation
+€17,998
Stocks and contracts
-€561,635
Receivables within one year
-€38,900
Trade debts
+€200
Tax, wage and social debts
-€7,143
Investment (derived)
-€3,118
Investment in fixed assets (net)
-€3,118
Financing
+€588,616
Debts after one year
+€587,793
Current portion of long-term debt
+€823
Cash 2025
€45,041
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,308,617 | €1,927,149 | +€618,532 | +47.3% |
| Fixed assets | 21/28 | €748,048 | €733,168 | -€14,880 | -2.0% |
| Tangible fixed assets | 22/27 | €748,048 | €733,168 | -€14,880 | -2.0% |
| Land and buildings | 22 | €748,048 | €730,315 | -€17,733 | -2.4% |
| Plant, machinery and equipment | 23 | - | €2,853 | +€2,853 | |
| Current assets | 29/58 | €560,569 | €1,193,980 | +€633,412 | +113% |
| Amounts receivable after more than one year | 29 | €450,000 | €450,000 | = | 0.0% |
| Other amounts receivable | 291 | €450,000 | €450,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €561,635 | +€561,635 | |
| Stocks | 30/36 | - | €561,635 | +€561,635 | |
| Amounts receivable within one year | 40/41 | €98,403 | €137,304 | +€38,900 | +39.5% |
| Trade receivables | 40 | - | €36,300 | +€36,300 | |
| Other amounts receivable | 41 | €98,403 | €101,004 | +€2,600 | +2.6% |
| Cash at bank and in hand | 54/58 | €12,165 | €45,041 | +€32,876 | +270% |
| Total equity and liabilities | 10/49 | €1,308,617 | €1,927,149 | +€618,532 | +47.3% |
| Equity | 10/15 | €241,872 | €278,731 | +€36,859 | +15.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €238,872 | €275,731 | +€36,859 | +15.4% |
| Amounts payable | 17/49 | €1,066,745 | €1,648,418 | +€581,673 | +54.5% |
| Amounts payable after more than one year | 17 | €968,936 | €1,556,729 | +€587,793 | +60.7% |
| Financial debts | 170/4 | €968,936 | €1,556,729 | +€587,793 | +60.7% |
| Amounts payable within one year | 42/48 | €97,809 | €91,689 | -€6,120 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €80,931 | €81,754 | +€823 | +1.0% |
| Trade debts | 44 | €9,735 | €9,935 | +€200 | +2.0% |
| Suppliers | 440/4 | €9,735 | €9,935 | +€200 | +2.0% |
| Taxes, remuneration and social security | 45 | €7,143 | - | -€7,143 | |
| Taxes | 450/3 | €7,143 | - | -€7,143 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,733 | €17,998 | +€265 | +1.5% |
| Other operating charges | 640/8 | €6,374 | €6,572 | +€199 | +3.1% |
| Gross operating margin | 9900 | €81,958 | €82,249 | +€291 | +0.4% |
| Operating profit (loss) | 9901 | €57,850 | €57,678 | -€172 | -0.3% |
| Financial income | 75/76B | €9,000 | €9,000 | = | 0.0% |
| Recurring financial income | 75 | €9,000 | €9,000 | = | 0.0% |
| Financial charges | 65/66B | €7,506 | €19,673 | +€12,168 | +162% |
| Recurring financial charges | 65 | €7,506 | €19,673 | +€12,168 | +162% |
| Profit (loss) for the period before taxes | 9903 | €59,345 | €47,005 | -€12,340 | -20.8% |
| Income taxes | 67/77 | €13,068 | €10,146 | -€2,922 | -22.4% |
| Profit (loss) for the period | 9904 | €46,277 | €36,859 | -€9,418 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,277 | €36,859 | -€9,418 | -20.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.