DE WALHOEK: 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 WALHOEK
Largest movements
- Tangible fixed assets -€31,245
down €31,245 (-3.8%), from €825,785 to €794,541
of which Land and buildings: -€30,732
- Cash -€18,462
down €18,462 (-43.8%), from €42,161 to €23,699
mainly Debts after one year (-€31,454) and Net result for the year (-€20,442)
- Debts after one year -€31,454
down €31,454 (-10.7%), from €294,124 to €262,670
- Reserves -€13,800
down €13,800 (-4.4%), from €312,032 to €298,232
of which Tax-exempt reserves: -€13,800
- Financial income -€16,961
down €16,961 (-99.0%), from €17,137 to €175
- Gross operating margin +€3,422
up €3,422 (+8.6%), from €39,719 to €43,141
- Taxes +€2,983
up €2,983 (+3,728,650%), from €0 to €2,983
- Depreciation +€1,299
up €1,299 (+3.4%), from €38,216 to €39,514
- Financial charges -€727
down €727 (-8.8%), from €8,220 to €7,493
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €990,770 | €935,436 | -€55,334 | -5.6% |
| Fixed assets | 21/28 | €825,785 | €794,541 | -€31,245 | -3.8% |
| Tangible fixed assets | 22/27 | €825,785 | €794,541 | -€31,245 | -3.8% |
| Land and buildings | 22 | €814,623 | €783,891 | -€30,732 | -3.8% |
| Plant, machinery and equipment | 23 | €11,162 | €9,477 | -€1,685 | -15.1% |
| Furniture and vehicles | 24 | - | €1,173 | +€1,173 | |
| Current assets | 29/58 | €164,985 | €140,896 | -€24,089 | -14.6% |
| Amounts receivable within one year | 40/41 | €42,563 | €43,713 | +€1,150 | +2.7% |
| Trade receivables | 40 | €102 | €1,253 | +€1,150 | +1,123% |
| Other amounts receivable | 41 | €42,461 | €42,461 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €42,161 | €23,699 | -€18,462 | -43.8% |
| Deferred charges and accrued income | 490/1 | €80,261 | €73,484 | -€6,778 | -8.4% |
| Total equity and liabilities | 10/49 | €990,770 | €935,436 | -€55,334 | -5.6% |
| Equity | 10/15 | €480,461 | €460,019 | -€20,442 | -4.3% |
| Contributions | 10/11 | €356,967 | €356,967 | = | 0.0% |
| Reserves | 13 | €312,032 | €298,232 | -€13,800 | -4.4% |
| Tax-exempt reserves | 132 | €287,822 | €274,022 | -€13,800 | -4.8% |
| Distributable reserves | 133 | €24,210 | €24,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188,538 | -€195,180 | -€6,642 | -3.5% |
| Provisions and deferred taxes | 16 | €148,206 | €141,100 | -€7,106 | -4.8% |
| Deferred taxes | 168 | €148,206 | €141,100 | -€7,106 | -4.8% |
| Amounts payable | 17/49 | €362,103 | €334,317 | -€27,786 | -7.7% |
| Amounts payable after more than one year | 17 | €294,124 | €262,670 | -€31,454 | -10.7% |
| Financial debts | 170/4 | €294,124 | €262,670 | -€31,454 | -10.7% |
| Amounts payable within one year | 42/48 | €64,716 | €65,179 | +€463 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €30,795 | €31,454 | +€659 | +2.1% |
| Trade debts | 44 | €23,540 | €14,042 | -€9,498 | -40.3% |
| Suppliers | 440/4 | €23,540 | €14,042 | -€9,498 | -40.3% |
| Taxes, remuneration and social security | 45 | - | €3,204 | +€3,204 | |
| Taxes | 450/3 | - | €3,204 | +€3,204 | |
| Other amounts payable | 47/48 | €10,382 | €16,479 | +€6,097 | +58.7% |
| Accrued charges and deferred income | 492/3 | €3,263 | €6,469 | +€3,205 | +98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,216 | €39,514 | +€1,299 | +3.4% |
| Other operating charges | 640/8 | €20,379 | €20,874 | +€495 | +2.4% |
| Gross operating margin | 9900 | €39,719 | €43,141 | +€3,422 | +8.6% |
| Operating profit (loss) | 9901 | -€18,875 | -€17,247 | +€1,628 | +8.6% |
| Financial income | 75/76B | €17,137 | €175 | -€16,961 | -99.0% |
| Recurring financial income | 75 | €17,137 | €175 | -€16,961 | -99.0% |
| Financial charges | 65/66B | €8,220 | €7,493 | -€727 | -8.8% |
| Recurring financial charges | 65 | €8,220 | €7,493 | -€727 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,959 | -€24,565 | -€14,606 | -147% |
| Transfer from deferred taxes | 780 | €13,800 | €7,106 | -€6,694 | -48.5% |
| Income taxes | 67/77 | €0 | €2,983 | +€2,983 | +3,728,650% |
| Profit (loss) for the period | 9904 | €3,841 | -€20,442 | -€24,283 | |
| Transfer from tax-exempt reserves | 789 | €7,106 | €13,800 | +€6,694 | +94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,947 | -€6,642 | -€17,589 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.