WULFRA: 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.
WULFRA
Largest movements
- Cash +€138,366
up €138,366 (+33.4%), from €414,098 to €552,465
mainly Other debts (+€418,373) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Receivables within one year -€23,789
down €23,789 (-63.8%), from €37,314 to €13,525
of which Other amounts receivable: -€20,795
- Tangible fixed assets -€11,616
down €11,616 (-21.7%), from €53,487 to €41,872
of which Furniture and vehicles: -€10,999
- Other debts +€418,373
up €418,373 (+587%), from €71,329 to €489,702
- Reserves -€232,807
down €232,807 (-80.9%), from €287,660 to €54,853
- Profit (loss) carried forward -€179,420
down €179,420 (-100%), from €179,420 to €0
- Tax, wage and social debts +€73,800
up €73,800 (+3,747%), from €1,970 to €75,770
- Trade debts -€53,855
down €53,855 (-93.0%), from €57,916 to €4,060
- Gross operating margin +€34,315
up €34,315 (+36.9%), from €92,979 to €127,294
- Taxes +€6,194
up €6,194 (+28.2%), from €22,002 to €28,197
- Financial income -€2,811
down €2,811 (-26.1%), from €10,752 to €7,941
- Depreciation +€1,730
up €1,730 (+13.5%), from €12,836 to €14,566
- Financial charges -€1,392
down €1,392 (-10.3%), from €13,462 to €12,070
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 | €641,893 | €643,211 | +€1,318 | +0.2% |
| Fixed assets | 21/28 | €53,487 | €41,872 | -€11,616 | -21.7% |
| Tangible fixed assets | 22/27 | €53,487 | €41,872 | -€11,616 | -21.7% |
| Plant, machinery and equipment | 23 | €5,908 | €6,885 | +€976 | +16.5% |
| Furniture and vehicles | 24 | €45,173 | €34,174 | -€10,999 | -24.3% |
| Other tangible fixed assets | 26 | €2,406 | €814 | -€1,593 | -66.2% |
| Current assets | 29/58 | €588,406 | €601,339 | +€12,933 | +2.2% |
| Stocks and contracts in progress | 3 | €36,993 | €33,444 | -€3,550 | -9.6% |
| Contracts in progress | 37 | €36,993 | €33,444 | -€3,550 | -9.6% |
| Amounts receivable within one year | 40/41 | €37,314 | €13,525 | -€23,789 | -63.8% |
| Trade receivables | 40 | €6,834 | €3,840 | -€2,994 | -43.8% |
| Other amounts receivable | 41 | €30,480 | €9,685 | -€20,795 | -68.2% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €414,098 | €552,465 | +€138,366 | +33.4% |
| Deferred charges and accrued income | 490/1 | - | €1,906 | +€1,906 | |
| Total equity and liabilities | 10/49 | €641,893 | €643,211 | +€1,318 | +0.2% |
| Equity | 10/15 | €485,679 | €73,453 | -€412,226 | -84.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €287,660 | €54,853 | -€232,807 | -80.9% |
| Distributable reserves | 133 | €287,660 | €54,853 | -€232,807 | -80.9% |
| Profit (loss) carried forward | 14 | €179,420 | €0 | -€179,420 | -100% |
| Amounts payable | 17/49 | €156,214 | €569,758 | +€413,544 | +265% |
| Amounts payable within one year | 42/48 | €156,214 | €569,532 | +€413,318 | +265% |
| Trade debts | 44 | €57,916 | €4,060 | -€53,855 | -93.0% |
| Suppliers | 440/4 | €57,916 | €4,060 | -€53,855 | -93.0% |
| Advances received on contracts in progress | 46 | €25,000 | €0 | -€25,000 | -100% |
| Taxes, remuneration and social security | 45 | €1,970 | €75,770 | +€73,800 | +3,747% |
| Taxes | 450/3 | €1,970 | €75,770 | +€73,800 | +3,747% |
| Other amounts payable | 47/48 | €71,329 | €489,702 | +€418,373 | +587% |
| Accrued charges and deferred income | 492/3 | - | €226 | +€226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,836 | €14,566 | +€1,730 | +13.5% |
| Other operating charges | 640/8 | €604 | €629 | +€25 | +4.1% |
| Gross operating margin | 9900 | €92,979 | €127,294 | +€34,315 | +36.9% |
| Operating profit (loss) | 9901 | €79,539 | €112,100 | +€32,561 | +40.9% |
| Financial income | 75/76B | €10,752 | €7,941 | -€2,811 | -26.1% |
| Recurring financial income | 75 | €10,752 | €7,941 | -€2,811 | -26.1% |
| Financial charges | 65/66B | €13,462 | €12,070 | -€1,392 | -10.3% |
| Recurring financial charges | 65 | €13,462 | €12,070 | -€1,392 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €76,829 | €107,970 | +€31,142 | +40.5% |
| Income taxes | 67/77 | €22,002 | €28,197 | +€6,194 | +28.2% |
| Profit (loss) for the period | 9904 | €54,826 | €79,774 | +€24,947 | +45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €54,826 | €79,774 | +€24,947 | +45.5% |
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 17 October 2026 via checked.be.