De Groene Wandeling: 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.
De Groene Wandeling
Largest movements
- Receivables within one year +€57,408
up €57,408 (+47,370%), from €121 to €57,529
- Cash +€21,104
up €21,104 (+53.0%), from €39,788 to €60,892
mainly Net result for the year (+€52,033) and Tax, wage and social debts (+€20,960)
- Reserves +€52,033
up €52,033 (+30.2%), from €172,503 to €224,536
of which Distributable reserves: +€52,033
- Tax, wage and social debts +€20,960
up €20,960 (+172%), from €12,189 to €33,149
of which Taxes: +€18,030
- Trade debts +€3,834
up €3,834 (+62.6%), from €6,122 to €9,955
- Gross operating margin +€41,384
up €41,384 (+43.6%), from €94,948 to €136,332
- Taxes +€20,929
up €20,929 (+155%), from €13,471 to €34,401
- Financial income +€10,393
up €10,393 (+125%), from €8,313 to €18,706
- Staff costs +€7,961
up €7,961 (+14.3%), from €55,639 to €63,600
- Depreciation -€2,000
down €2,000 (-53.2%), from €3,759 to €1,759
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 | €214,752 | €291,678 | +€76,927 | +35.8% |
| Fixed assets | 21/28 | €13,434 | €11,676 | -€1,759 | -13.1% |
| Tangible fixed assets | 22/27 | €11,575 | €9,816 | -€1,759 | -15.2% |
| Land and buildings | 22 | €4,592 | €4,127 | -€465 | -10.1% |
| Plant, machinery and equipment | 23 | €6,766 | €5,690 | -€1,076 | -15.9% |
| Furniture and vehicles | 24 | €217 | €0 | -€217 | -100% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,859 | €1,859 | = | 0.0% |
| Current assets | 29/58 | €201,318 | €280,003 | +€78,685 | +39.1% |
| Amounts receivable after more than one year | 29 | €160,000 | €160,000 | = | 0.0% |
| Other amounts receivable | 291 | €160,000 | €160,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €121 | €57,529 | +€57,408 | +47,370% |
| Other amounts receivable | 41 | €121 | €57,529 | +€57,408 | +47,370% |
| Cash at bank and in hand | 54/58 | €39,788 | €60,892 | +€21,104 | +53.0% |
| Deferred charges and accrued income | 490/1 | €1,408 | €1,581 | +€173 | +12.3% |
| Total equity and liabilities | 10/49 | €214,752 | €291,678 | +€76,927 | +35.8% |
| Equity | 10/15 | €191,095 | €243,128 | +€52,033 | +27.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €172,503 | €224,536 | +€52,033 | +30.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €170,644 | €222,677 | +€52,033 | +30.5% |
| Amounts payable | 17/49 | €23,656 | €48,550 | +€24,894 | +105% |
| Amounts payable within one year | 42/48 | €23,656 | €48,550 | +€24,894 | +105% |
| Current portion of amounts payable after more than one year | 42 | €5,346 | €5,446 | +€100 | +1.9% |
| Trade debts | 44 | €6,122 | €9,955 | +€3,834 | +62.6% |
| Suppliers | 440/4 | €6,122 | €9,955 | +€3,834 | +62.6% |
| Taxes, remuneration and social security | 45 | €12,189 | €33,149 | +€20,960 | +172% |
| Taxes | 450/3 | €10,533 | €28,563 | +€18,030 | +171% |
| Remuneration and social security | 454/9 | €1,656 | €4,586 | +€2,930 | +177% |
| Remuneration, social security and pensions | 62 | €55,639 | €63,600 | +€7,961 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,759 | €1,759 | -€2,000 | -53.2% |
| Other operating charges | 640/8 | €387 | €1,200 | +€812 | +210% |
| Gross operating margin | 9900 | €94,948 | €136,332 | +€41,384 | +43.6% |
| Operating profit (loss) | 9901 | €35,163 | €69,773 | +€34,610 | +98.4% |
| Financial income | 75/76B | €8,313 | €18,706 | +€10,393 | +125% |
| Recurring financial income | 75 | €8,313 | €18,706 | +€10,393 | +125% |
| Financial charges | 65/66B | €1,631 | €2,045 | +€415 | +25.4% |
| Recurring financial charges | 65 | €1,631 | €2,045 | +€415 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €41,845 | €86,434 | +€44,589 | +107% |
| Income taxes | 67/77 | €13,471 | €34,401 | +€20,929 | +155% |
| Profit (loss) for the period | 9904 | €28,374 | €52,033 | +€23,660 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,374 | €52,033 | +€23,660 | +83.4% |
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 26 October 2026 via checked.be.