WULFE: 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.
WULFE
Largest movements
- Cash +€4,828
up €4,828 (+27.9%), from €17,314 to €22,142
mainly Trade debts (+€3,648) and Net result for the year (+€601)
- Tangible fixed assets -€514
down €514 (-59.4%), from €865 to €351
- Trade debts +€3,648
up €3,648 (+2067.0%), from €177 to €3,825
- Profit (loss) carried forward +€601
up €601 (+32.7%), from -€1,835 to -€1,234
- Gross operating margin +€1,855
up €1,855 (+1000.8%), from €185 to €2,041
- Other operating charges +€184
up €184 (+29.4%), from €627 to €811
- Depreciation -€109
down €109 (-17.5%), from €623 to €514
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 | €18,413 | €22,931 | +€4,518 | +24.5% |
| Fixed assets | 21/28 | €865 | €351 | -€514 | -59.4% |
| Tangible fixed assets | 22/27 | €865 | €351 | -€514 | -59.4% |
| Furniture and vehicles | 24 | €865 | €351 | -€514 | -59.4% |
| Current assets | 29/58 | €17,548 | €22,580 | +€5,032 | +28.7% |
| Amounts receivable within one year | 40/41 | €161 | €324 | +€162 | +100.8% |
| Trade receivables | 40 | - | €324 | +€324 | |
| Other amounts receivable | 41 | €161 | - | -€161 | |
| Cash at bank and in hand | 54/58 | €17,314 | €22,142 | +€4,828 | +27.9% |
| Deferred charges and accrued income | 490/1 | €72 | €114 | +€42 | +58.0% |
| Total equity and liabilities | 10/49 | €18,413 | €22,931 | +€4,518 | +24.5% |
| Equity | 10/15 | €16,940 | €17,541 | +€601 | +3.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,775 | €15,775 | = | 0.0% |
| Distributable reserves | 133 | €15,775 | €15,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,835 | -€1,234 | +€601 | +32.7% |
| Amounts payable | 17/49 | €1,473 | €5,390 | +€3,917 | +265.9% |
| Amounts payable within one year | 42/48 | €1,410 | €5,327 | +€3,917 | +277.9% |
| Financial debts | 43 | €5 | €21 | +€16 | +307.1% |
| Credit institutions | 430/8 | €5 | €21 | +€16 | +307.1% |
| Trade debts | 44 | €177 | €3,825 | +€3,648 | +2067.0% |
| Suppliers | 440/4 | €177 | €3,825 | +€3,648 | +2067.0% |
| Taxes, remuneration and social security | 45 | - | €208 | +€208 | |
| Taxes | 450/3 | - | €208 | +€208 | |
| Other amounts payable | 47/48 | €1,228 | €1,273 | +€45 | +3.7% |
| Accrued charges and deferred income | 492/3 | €63 | €63 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €623 | €514 | -€109 | -17.5% |
| Other operating charges | 640/8 | €627 | €811 | +€184 | +29.4% |
| Gross operating margin | 9900 | €185 | €2,041 | +€1,855 | +1000.8% |
| Operating profit (loss) | 9901 | -€1,065 | €715 | +€1,780 | |
| Financial charges | 65/66B | €117 | €114 | -€3 | -2.2% |
| Recurring financial charges | 65 | €117 | €114 | -€3 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,182 | €601 | +€1,783 | |
| Profit (loss) for the period | 9904 | -€1,182 | €601 | +€1,783 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,182 | €601 | +€1,783 |
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 3 October 2026 via checked.be.