WOLFSTAR: what changed
WOLFSTAR
Largest movements
- Deferred charges and accrued income -€95,724
down €95,724 (-17.0%), from €564,600 to €468,876
- Tangible fixed assets -€12,008
down €12,008 (-28.7%), from €41,847 to €29,838
of which Furniture and vehicles: -€11,607
- Contributions -€114,000
no longer reported in 2025 (was €114,000)
- Reserves +€22,586
up €22,586 (+5.2%), from €434,427 to €457,014
of which Distributable reserves: +€35,846
- Trade debts -€12,878
down €12,878 (-21.9%), from €58,802 to €45,924
- Tax, wage and social debts -€6,708
down €6,708 (-28.8%), from €23,314 to €16,606
of which Taxes: -€7,132
- Financial charges -€21,258
down €21,258 (-74.8%), from €28,426 to €7,168
- Other operating charges -€13,149
down €13,149 (-95.0%), from €13,841 to €693
- Taxes +€9,242
up €9,242 (+754%), from €1,226 to €10,468
- Gross operating margin +€6,635
up €6,635 (+13.3%), from €49,925 to €56,560
- Staff costs +€5,304
new in 2025: €5,304
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €630,586 | €519,543 | -€111,043 | -17.6% |
| Fixed assets | 21/28 | €41,847 | €29,838 | -€12,008 | -28.7% |
| Tangible fixed assets | 22/27 | €41,847 | €29,838 | -€12,008 | -28.7% |
| Plant, machinery and equipment | 23 | €1,022 | €621 | -€401 | -39.3% |
| Furniture and vehicles | 24 | €25,825 | €14,218 | -€11,607 | -44.9% |
| Other tangible fixed assets | 26 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €588,740 | €489,705 | -€99,035 | -16.8% |
| Amounts receivable within one year | 40/41 | €10,006 | €4,531 | -€5,475 | -54.7% |
| Trade receivables | 40 | €7,006 | €1,531 | -€5,475 | -78.1% |
| Other amounts receivable | 41 | €3,000 | €3,000 | = | 0.0% |
| Current investments | 50/53 | €3,501 | €3,501 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,633 | €12,797 | +€2,164 | +20.3% |
| Deferred charges and accrued income | 490/1 | €564,600 | €468,876 | -€95,724 | -17.0% |
| Total equity and liabilities | 10/49 | €630,586 | €519,543 | -€111,043 | -17.6% |
| Equity | 10/15 | €548,471 | €457,014 | -€91,457 | -16.7% |
| Contributions | 10/11 | €114,000 | - | -€114,000 | |
| Reserves | 13 | €434,427 | €457,014 | +€22,586 | +5.2% |
| Non-distributable reserves | 130/1 | €13,260 | - | -€13,260 | |
| Reserves not available under the articles | 1311 | €13,260 | - | -€13,260 | |
| Distributable reserves | 133 | €421,167 | €457,014 | +€35,846 | +8.5% |
| Profit (loss) carried forward | 14 | €43 | - | -€43 | |
| Amounts payable | 17/49 | €82,116 | €62,530 | -€19,586 | -23.9% |
| Amounts payable within one year | 42/48 | €82,116 | €62,530 | -€19,586 | -23.9% |
| Trade debts | 44 | €58,802 | €45,924 | -€12,878 | -21.9% |
| Suppliers | 440/4 | €58,802 | €45,924 | -€12,878 | -21.9% |
| Taxes, remuneration and social security | 45 | €23,314 | €16,606 | -€6,708 | -28.8% |
| Taxes | 450/3 | €23,314 | €16,181 | -€7,132 | -30.6% |
| Remuneration and social security | 454/9 | - | €425 | +€425 | |
| Remuneration, social security and pensions | 62 | - | €5,304 | +€5,304 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,639 | €12,008 | +€2,370 | +24.6% |
| Other operating charges | 640/8 | €13,841 | €693 | -€13,149 | -95.0% |
| Gross operating margin | 9900 | €49,925 | €56,560 | +€6,635 | +13.3% |
| Operating profit (loss) | 9901 | €26,445 | €38,554 | +€12,109 | +45.8% |
| Financial income | 75/76B | €3,250 | €1,625 | -€1,625 | -50.0% |
| Recurring financial income | 75 | €3,250 | €1,625 | -€1,625 | -50.0% |
| Financial charges | 65/66B | €28,426 | €7,168 | -€21,258 | -74.8% |
| Recurring financial charges | 65 | €28,426 | €7,168 | -€21,258 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | €1,269 | €33,011 | +€31,742 | +2,501% |
| Income taxes | 67/77 | €1,226 | €10,468 | +€9,242 | +754% |
| Profit (loss) for the period | 9904 | €43 | €22,543 | +€22,500 | +51,987% |
| Profit (loss) for the period to be appropriated | 9905 | €43 | €22,543 | +€22,500 | +51,987% |
Next steps
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 7 November 2026 via checked.be.