BERNARD WALLON: 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.
BERNARD WALLON
Largest movements
- Receivables within one year +€34,725
up €34,725 (+14.7%), from €235,728 to €270,453
of which Trade receivables: +€49,628
- Tangible fixed assets +€29,965
up €29,965 (+8.0%), from €376,210 to €406,174
of which Furniture and vehicles: +€32,756
- Cash +€23,094
up €23,094 (+57.3%), from €40,330 to €63,424
mainly Depreciation (+€110,451) and Net result for the year (+€32,898)
- Profit (loss) carried forward +€32,898
up €32,898 (+9.6%), from €342,562 to €375,460
- Debts after one year +€23,860
up €23,860 (+18.7%), from €127,754 to €151,613
- Trade debts +€21,666
up €21,666 (+959%), from €2,259 to €23,925
- Accrued charges and deferred income +€19,261
up €19,261 (+9,068%), from €212 to €19,473
- Gross operating margin -€39,906
down €39,906 (-4.7%), from €842,210 to €802,304
- Write-downs -€38,760
down €38,760 (-74.0%), from €52,377 to €13,617
- Staff costs -€33,965
down €33,965 (-5.2%), from €654,990 to €621,025
- Depreciation +€23,533
up €23,533 (+27.1%), from €86,918 to €110,451
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 | €660,140 | €748,013 | +€87,872 | +13.3% |
| Fixed assets | 21/28 | €376,210 | €406,174 | +€29,965 | +8.0% |
| Tangible fixed assets | 22/27 | €376,210 | €406,174 | +€29,965 | +8.0% |
| Land and buildings | 22 | €10,000 | €10,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €140,859 | €138,067 | -€2,791 | -2.0% |
| Furniture and vehicles | 24 | €203,351 | €236,107 | +€32,756 | +16.1% |
| Assets under construction and advance payments | 27 | €22,000 | €22,000 | = | 0.0% |
| Current assets | 29/58 | €283,931 | €341,838 | +€57,908 | +20.4% |
| Amounts receivable within one year | 40/41 | €235,728 | €270,453 | +€34,725 | +14.7% |
| Trade receivables | 40 | €174,756 | €224,383 | +€49,628 | +28.4% |
| Other amounts receivable | 41 | €60,973 | €46,070 | -€14,903 | -24.4% |
| Cash at bank and in hand | 54/58 | €40,330 | €63,424 | +€23,094 | +57.3% |
| Deferred charges and accrued income | 490/1 | €7,872 | €7,961 | +€89 | +1.1% |
| Total equity and liabilities | 10/49 | €660,140 | €748,013 | +€87,872 | +13.3% |
| Equity | 10/15 | €363,022 | €395,920 | +€32,898 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €342,562 | €375,460 | +€32,898 | +9.6% |
| Amounts payable | 17/49 | €297,118 | €352,093 | +€54,974 | +18.5% |
| Amounts payable after more than one year | 17 | €127,754 | €151,613 | +€23,860 | +18.7% |
| Financial debts | 170/4 | €127,754 | €151,613 | +€23,860 | +18.7% |
| Amounts payable within one year | 42/48 | €169,152 | €181,006 | +€11,853 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €85,565 | €82,221 | -€3,344 | -3.9% |
| Trade debts | 44 | €2,259 | €23,925 | +€21,666 | +959% |
| Suppliers | 440/4 | €2,259 | €23,925 | +€21,666 | +959% |
| Taxes, remuneration and social security | 45 | €69,135 | €64,651 | -€4,484 | -6.5% |
| Taxes | 450/3 | €3,440 | €2,995 | -€445 | -12.9% |
| Remuneration and social security | 454/9 | €65,695 | €61,656 | -€4,039 | -6.1% |
| Other amounts payable | 47/48 | €12,193 | €10,209 | -€1,984 | -16.3% |
| Accrued charges and deferred income | 492/3 | €212 | €19,473 | +€19,261 | +9,068% |
| Remuneration, social security and pensions | 62 | €654,990 | €621,025 | -€33,965 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,918 | €110,451 | +€23,533 | +27.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €52,377 | €13,617 | -€38,760 | -74.0% |
| Other operating charges | 640/8 | €9,623 | €11,446 | +€1,824 | +19.0% |
| Gross operating margin | 9900 | €842,210 | €802,304 | -€39,906 | -4.7% |
| Operating profit (loss) | 9901 | €38,302 | €45,764 | +€7,462 | +19.5% |
| Financial income | 75/76B | €299 | €87 | -€212 | -70.8% |
| Recurring financial income | 75 | €299 | €87 | -€212 | -70.8% |
| Financial charges | 65/66B | €5,665 | €7,510 | +€1,845 | +32.6% |
| Recurring financial charges | 65 | €5,665 | €7,510 | +€1,845 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €32,936 | €38,341 | +€5,405 | +16.4% |
| Income taxes | 67/77 | €3,146 | €5,443 | +€2,297 | +73.0% |
| Profit (loss) for the period | 9904 | €29,790 | €32,898 | +€3,108 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,790 | €32,898 | +€3,108 | +10.4% |
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 19 October 2026 via checked.be.