Wulgestock: 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.
Wulgestock
Largest movements
- Tangible fixed assets -€31,131
down €31,131 (-7.0%), from €442,203 to €411,072
of which Furniture and vehicles: -€20,850
- Receivables within one year -€18,184
down €18,184 (-94.4%), from €19,254 to €1,070
of which Trade receivables: -€9,503
- Stocks and contracts -€4,785
down €4,785 (-61.5%), from €7,785 to €3,000
- Debts after one year -€27,980
down €27,980 (-20.0%), from €139,871 to €111,891
- Reserves -€18,619
down €18,619 (-17.7%), from €105,435 to €86,816
of which Tax-exempt reserves: -€18,619
- Profit (loss) carried forward +€11,647
up €11,647 (+25.5%), from €45,719 to €57,366
- Trade debts -€9,525
down €9,525 (-33.4%), from €28,483 to €18,958
- Short-term financial debts -€6,632
down €6,632 (-52.0%), from €12,758 to €6,126
- Depreciation +€11,031
up €11,031 (+54.9%), from €20,100 to €31,131
- Financial charges +€1,858
up €1,858 (+35.2%), from €5,272 to €7,129
- Gross operating margin -€1,785
down €1,785 (-5.5%), from €32,556 to €30,771
- Taxes +€358
up €358 (+9.2%), from €3,881 to €4,240
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 | €473,379 | €418,457 | -€54,922 | -11.6% |
| Fixed assets | 21/28 | €442,203 | €411,072 | -€31,131 | -7.0% |
| Tangible fixed assets | 22/27 | €442,203 | €411,072 | -€31,131 | -7.0% |
| Land and buildings | 22 | €354,292 | €348,833 | -€5,459 | -1.5% |
| Plant, machinery and equipment | 23 | €16,951 | €12,129 | -€4,822 | -28.4% |
| Furniture and vehicles | 24 | €70,960 | €50,110 | -€20,850 | -29.4% |
| Current assets | 29/58 | €31,176 | €7,385 | -€23,791 | -76.3% |
| Stocks and contracts in progress | 3 | €7,785 | €3,000 | -€4,785 | -61.5% |
| Stocks | 30/36 | €7,785 | €3,000 | -€4,785 | -61.5% |
| Amounts receivable within one year | 40/41 | €19,254 | €1,070 | -€18,184 | -94.4% |
| Trade receivables | 40 | €10,573 | €1,070 | -€9,503 | -89.9% |
| Other amounts receivable | 41 | €8,681 | €0 | -€8,681 | -100% |
| Cash at bank and in hand | 54/58 | €1,600 | €0 | -€1,600 | -100% |
| Deferred charges and accrued income | 490/1 | €2,537 | €3,315 | +€778 | +30.7% |
| Total equity and liabilities | 10/49 | €473,379 | €418,457 | -€54,922 | -11.6% |
| Equity | 10/15 | €169,704 | €162,732 | -€6,973 | -4.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €105,435 | €86,816 | -€18,619 | -17.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €104,986 | €86,366 | -€18,619 | -17.7% |
| Distributable reserves | 133 | €449 | €449 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,719 | €57,366 | +€11,647 | +25.5% |
| Provisions and deferred taxes | 16 | €28,788 | €22,581 | -€6,206 | -21.6% |
| Deferred taxes | 168 | €28,788 | €22,581 | -€6,206 | -21.6% |
| Amounts payable | 17/49 | €274,887 | €233,144 | -€41,742 | -15.2% |
| Amounts payable after more than one year | 17 | €139,871 | €111,891 | -€27,980 | -20.0% |
| Financial debts | 170/4 | €139,871 | €111,891 | -€27,980 | -20.0% |
| Amounts payable within one year | 42/48 | €133,905 | €121,204 | -€12,701 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €35,702 | €29,642 | -€6,059 | -17.0% |
| Financial debts | 43 | €12,758 | €6,126 | -€6,632 | -52.0% |
| Credit institutions | 430/8 | €12,758 | €6,126 | -€6,632 | -52.0% |
| Trade debts | 44 | €28,483 | €18,958 | -€9,525 | -33.4% |
| Suppliers | 440/4 | €28,483 | €18,958 | -€9,525 | -33.4% |
| Taxes, remuneration and social security | 45 | €3,898 | €9,711 | +€5,813 | +149% |
| Taxes | 450/3 | €3,898 | €9,711 | +€5,813 | +149% |
| Other amounts payable | 47/48 | €53,065 | €56,767 | +€3,702 | +7.0% |
| Accrued charges and deferred income | 492/3 | €1,111 | €50 | -€1,061 | -95.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,100 | €31,131 | +€11,031 | +54.9% |
| Other operating charges | 640/8 | €1,439 | €1,475 | +€36 | +2.5% |
| Gross operating margin | 9900 | €32,556 | €30,771 | -€1,785 | -5.5% |
| Operating profit (loss) | 9901 | €11,017 | -€1,835 | -€12,852 | |
| Financial income | 75/76B | €0 | €25 | +€25 | |
| Recurring financial income | 75 | €0 | €25 | +€25 | |
| Financial charges | 65/66B | €5,272 | €7,129 | +€1,858 | +35.2% |
| Recurring financial charges | 65 | €5,272 | €7,129 | +€1,858 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | €5,745 | -€8,940 | -€14,685 | |
| Transfer from deferred taxes | 780 | €3,869 | €6,206 | +€2,338 | +60.4% |
| Income taxes | 67/77 | €3,881 | €4,240 | +€358 | +9.2% |
| Profit (loss) for the period | 9904 | €5,733 | -€6,973 | -€12,705 | |
| Transfer from tax-exempt reserves | 789 | €11,606 | €18,619 | +€7,013 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,339 | €11,647 | -€5,692 | -32.8% |
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 25 October 2026 via checked.be.