De Waerde: 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 Waerde
Largest movements
- Current investments +€51,326
up €51,326 (+43.2%), from €118,758 to €170,084
- Tangible fixed assets -€7,388
down €7,388 (-9.5%), from €78,053 to €70,665
of which Land and buildings: -€13,068
- Profit (loss) carried forward +€37,388
up €37,388 (+27.8%), from €134,723 to €172,111
- Depreciation -€1,846
down €1,846 (-11.7%), from €15,829 to €13,983
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 | €227,866 | €267,961 | +€40,095 | +17.6% |
| Fixed assets | 21/28 | €78,053 | €70,665 | -€7,388 | -9.5% |
| Tangible fixed assets | 22/27 | €78,053 | €70,665 | -€7,388 | -9.5% |
| Land and buildings | 22 | €76,443 | €63,374 | -€13,068 | -17.1% |
| Plant, machinery and equipment | 23 | €1,199 | €5,513 | +€4,314 | +360% |
| Furniture and vehicles | 24 | €411 | €1,778 | +€1,367 | +332% |
| Current assets | 29/58 | €149,813 | €197,296 | +€47,483 | +31.7% |
| Stocks and contracts in progress | 3 | €3,813 | €3,045 | -€769 | -20.2% |
| Stocks | 30/36 | €3,813 | €3,045 | -€769 | -20.2% |
| Amounts receivable within one year | 40/41 | €5,026 | €3,456 | -€1,570 | -31.2% |
| Trade receivables | 40 | €5,026 | €3,456 | -€1,570 | -31.2% |
| Current investments | 50/53 | €118,758 | €170,084 | +€51,326 | +43.2% |
| Cash at bank and in hand | 54/58 | €22,216 | €20,482 | -€1,735 | -7.8% |
| Deferred charges and accrued income | 490/1 | - | €229 | +€229 | |
| Total equity and liabilities | 10/49 | €227,866 | €267,961 | +€40,095 | +17.6% |
| Equity | 10/15 | €216,562 | €253,949 | +€37,388 | +17.3% |
| Contributions | 10/11 | €81,839 | €81,839 | = | 0.0% |
| Capital | 10 | €81,839 | €81,839 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,723 | €172,111 | +€37,388 | +27.8% |
| Amounts payable | 17/49 | €11,304 | €14,012 | +€2,707 | +24.0% |
| Amounts payable within one year | 42/48 | €504 | €1,412 | +€907 | +180% |
| Trade debts | 44 | €72 | €858 | +€786 | +1,092% |
| Suppliers | 440/4 | €72 | €858 | +€786 | +1,092% |
| Taxes, remuneration and social security | 45 | €432 | €554 | +€121 | +28.1% |
| Taxes | 450/3 | €432 | €554 | +€121 | +28.1% |
| Accrued charges and deferred income | 492/3 | €10,800 | €12,600 | +€1,800 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,829 | €13,983 | -€1,846 | -11.7% |
| Other operating charges | 640/8 | €1,118 | €1,524 | +€405 | +36.3% |
| Gross operating margin | 9900 | €51,791 | €51,428 | -€363 | -0.7% |
| Operating profit (loss) | 9901 | €34,844 | €35,921 | +€1,078 | +3.1% |
| Financial income | 75/76B | €972 | €1,487 | +€515 | +53.0% |
| Recurring financial income | 75 | €972 | €1,487 | +€515 | +53.0% |
| Financial charges | 65/66B | €57 | €21 | -€36 | -63.2% |
| Recurring financial charges | 65 | €57 | €21 | -€36 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €35,759 | €37,388 | +€1,629 | +4.6% |
| Profit (loss) for the period | 9904 | €35,759 | €37,388 | +€1,629 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,759 | €37,388 | +€1,629 | +4.6% |
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 20 October 2026 via checked.be.