WOLFERS 1812: 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.
WOLFERS 1812
Largest movements
- Financial fixed assets +€94,080
up €94,080 (+3,235%), from €2,908 to €96,988
- Cash +€37,928
up €37,928 (+14.7%), from €257,868 to €295,796
mainly Debts after one year (+€96,000) and Depreciation (+€50,595)
- Tangible fixed assets -€37,349
down €37,349 (-18.8%), from €198,533 to €161,184
of which Other tangible fixed assets: -€40,856
- Receivables within one year +€18,873
up €18,873 (+10.7%), from €175,750 to €194,623
of which Trade receivables: +€36,511
- Debts after one year +€96,000
new in 2025: €96,000
- Profit (loss) carried forward +€26,150
up €26,150 (+2.5%), from -€1.1m to -€1.0m
- Gross operating margin +€87,603
up €87,603 (+26.9%), from €326,266 to €413,869
- Staff costs +€59,398
up €59,398 (+22.4%), from €265,452 to €324,850
- Financial charges +€6,715
up €6,715 (+436%), from €1,541 to €8,256
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 | €1,267,711 | €1,389,226 | +€121,515 | +9.6% |
| Fixed assets | 21/28 | €201,441 | €258,172 | +€56,731 | +28.2% |
| Tangible fixed assets | 22/27 | €198,533 | €161,184 | -€37,349 | -18.8% |
| Furniture and vehicles | 24 | €20,952 | €15,320 | -€5,632 | -26.9% |
| Leasing and similar rights | 25 | - | €9,139 | +€9,139 | |
| Other tangible fixed assets | 26 | €177,581 | €136,725 | -€40,856 | -23.0% |
| Financial fixed assets | 28 | €2,908 | €96,988 | +€94,080 | +3,235% |
| Current assets | 29/58 | €1,066,270 | €1,131,054 | +€64,784 | +6.1% |
| Stocks and contracts in progress | 3 | €629,762 | €633,389 | +€3,627 | +0.6% |
| Stocks | 30/36 | €629,762 | €633,389 | +€3,627 | +0.6% |
| Amounts receivable within one year | 40/41 | €175,750 | €194,623 | +€18,873 | +10.7% |
| Trade receivables | 40 | €151,917 | €188,428 | +€36,511 | +24.0% |
| Other amounts receivable | 41 | €23,833 | €6,195 | -€17,638 | -74.0% |
| Cash at bank and in hand | 54/58 | €257,868 | €295,796 | +€37,928 | +14.7% |
| Deferred charges and accrued income | 490/1 | €2,890 | €7,246 | +€4,356 | +151% |
| Total equity and liabilities | 10/49 | €1,267,711 | €1,389,226 | +€121,515 | +9.6% |
| Equity | 10/15 | €1,199,260 | €1,225,410 | +€26,150 | +2.2% |
| Contributions | 10/11 | €2,231,042 | €2,231,042 | = | 0.0% |
| Capital | 10 | €2,231,042 | €2,231,042 | = | 0.0% |
| Issued capital | 100 | €2,231,042 | €2,231,042 | = | 0.0% |
| Reserves | 13 | €21,003 | €21,003 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,003 | €21,003 | = | 0.0% |
| Legal reserve | 130 | €21,003 | €21,003 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,052,785 | -€1,026,635 | +€26,150 | +2.5% |
| Amounts payable | 17/49 | €68,451 | €163,816 | +€95,365 | +139% |
| Amounts payable after more than one year | 17 | - | €96,000 | +€96,000 | |
| Other amounts payable | 178/9 | - | €96,000 | +€96,000 | |
| Amounts payable within one year | 42/48 | €68,451 | €67,816 | -€635 | -0.9% |
| Trade debts | 44 | €18,301 | €9,320 | -€8,981 | -49.1% |
| Suppliers | 440/4 | €18,301 | €9,320 | -€8,981 | -49.1% |
| Advances received on contracts in progress | 46 | €5,110 | - | -€5,110 | |
| Taxes, remuneration and social security | 45 | €45,040 | €58,496 | +€13,456 | +29.9% |
| Taxes | 450/3 | - | €21,834 | +€21,834 | |
| Remuneration and social security | 454/9 | €45,040 | €36,662 | -€8,378 | -18.6% |
| Remuneration, social security and pensions | 62 | €265,452 | €324,850 | +€59,398 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,617 | €50,595 | +€3,978 | +8.5% |
| Other operating charges | 640/8 | €1,434 | €4,766 | +€3,332 | +232% |
| Non-recurring operating charges | 66A | - | €3,372 | +€3,372 | |
| Gross operating margin | 9900 | €326,266 | €413,869 | +€87,603 | +26.9% |
| Operating profit (loss) | 9901 | €12,763 | €30,286 | +€17,523 | +137% |
| Financial income | 75/76B | €21 | €4,120 | +€4,099 | +19,519% |
| Recurring financial income | 75 | €21 | €4,120 | +€4,099 | +19,519% |
| Financial charges | 65/66B | €1,541 | €8,256 | +€6,715 | +436% |
| Recurring financial charges | 65 | €1,541 | €8,256 | +€6,715 | +436% |
| Profit (loss) for the period before taxes | 9903 | €11,243 | €26,150 | +€14,907 | +133% |
| Profit (loss) for the period | 9904 | €11,243 | €26,150 | +€14,907 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €11,243 | €26,150 | +€14,907 | +133% |
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 22 October 2026 via checked.be.