De Walhoeve: 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 Walhoeve
Largest movements
- Tangible fixed assets -€56,600
down €56,600 (-3.8%), from €1.5m to €1.4m
of which Land and buildings: -€38,544
- Receivables within one year +€24,656
up €24,656 (+12.2%), from €202,876 to €227,531
of which Other amounts receivable: +€38,481
- Reserves +€170,000
up €170,000 (+113%), from €150,000 to €320,000
- Profit (loss) carried forward -€106,296
down €106,296 (-11.8%), from €903,403 to €797,107
- Investment grants -€54,465
down €54,465 (-11.7%), from €465,807 to €411,342
- Debts after one year -€52,072
down €52,072 (-9.9%), from €525,354 to €473,281
- Gross operating margin +€94,180
up €94,180 (+5.3%), from €1.8m to €1.9m
- Staff costs +€40,863
up €40,863 (+2.5%), from €1.6m to €1.7m
- Purchases and services -€27,080
down €27,080 (-10.1%), from €268,759 to €241,679
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 | €2,286,413 | €2,247,473 | -€38,940 | -1.7% |
| Fixed assets | 21/28 | €1,498,540 | €1,441,940 | -€56,600 | -3.8% |
| Tangible fixed assets | 22/27 | €1,498,540 | €1,441,940 | -€56,600 | -3.8% |
| Land and buildings | 22 | €1,408,180 | €1,369,636 | -€38,544 | -2.7% |
| Plant, machinery and equipment | 23 | €43,328 | €38,172 | -€5,156 | -11.9% |
| Furniture and vehicles | 24 | €47,032 | €34,132 | -€12,901 | -27.4% |
| Current assets | 29/58 | €787,873 | €805,533 | +€17,660 | +2.2% |
| Amounts receivable within one year | 40/41 | €202,876 | €227,531 | +€24,656 | +12.2% |
| Trade receivables | 40 | €15,595 | €1,771 | -€13,825 | -88.6% |
| Other amounts receivable | 41 | €187,280 | €225,761 | +€38,481 | +20.5% |
| Current investments | 50/53 | €429,407 | €435,045 | +€5,637 | +1.3% |
| Cash at bank and in hand | 54/58 | €139,809 | €132,661 | -€7,148 | -5.1% |
| Deferred charges and accrued income | 490/1 | €15,781 | €10,296 | -€5,485 | -34.8% |
| Total equity and liabilities | 10/49 | €2,286,413 | €2,247,473 | -€38,940 | -1.7% |
| Equity | 10/15 | €1,519,210 | €1,528,449 | +€9,239 | +0.6% |
| Reserves | 13 | €150,000 | €320,000 | +€170,000 | +113% |
| Profit (loss) carried forward | 14 | €903,403 | €797,107 | -€106,296 | -11.8% |
| Investment grants | 15 | €465,807 | €411,342 | -€54,465 | -11.7% |
| Amounts payable | 17/49 | €767,204 | €719,024 | -€48,180 | -6.3% |
| Amounts payable after more than one year | 17 | €525,354 | €473,281 | -€52,072 | -9.9% |
| Financial debts | 170/4 | €525,354 | €473,281 | -€52,072 | -9.9% |
| Amounts payable within one year | 42/48 | €240,710 | €244,203 | +€3,493 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €51,396 | €52,072 | +€677 | +1.3% |
| Trade debts | 44 | €33,537 | €13,261 | -€20,276 | -60.5% |
| Suppliers | 440/4 | €33,537 | €13,261 | -€20,276 | -60.5% |
| Taxes, remuneration and social security | 45 | €155,777 | €177,278 | +€21,500 | +13.8% |
| Taxes | 450/3 | - | €19,854 | +€19,854 | |
| Remuneration and social security | 454/9 | €155,777 | €157,424 | +€1,646 | +1.1% |
| Accrued charges and deferred income | 492/3 | €1,140 | €1,540 | +€400 | +35.1% |
| Membership fees, donations, legacies and grants | 73 | €2,011,029 | €2,092,637 | +€81,608 | +4.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €268,759 | €241,679 | -€27,080 | -10.1% |
| Remuneration, social security and pensions | 62 | €1,609,655 | €1,650,518 | +€40,863 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,341 | €135,847 | +€1,506 | +1.1% |
| Other operating charges | 640/8 | €32,010 | €25,577 | -€6,433 | -20.1% |
| Gross operating margin | 9900 | €1,784,743 | €1,878,923 | +€94,180 | +5.3% |
| Operating profit (loss) | 9901 | €8,737 | €66,981 | +€58,244 | +667% |
| Financial income | 75/76B | €4,553 | €5,749 | +€1,196 | +26.3% |
| Recurring financial income | 75 | €4,553 | €5,749 | +€1,196 | +26.3% |
| Financial charges | 65/66B | €9,862 | €9,025 | -€837 | -8.5% |
| Recurring financial charges | 65 | €9,862 | €9,025 | -€837 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €3,428 | €63,704 | +€60,276 | +1,759% |
| Profit (loss) for the period | 9904 | €3,428 | €63,704 | +€60,276 | +1,759% |
| Profit (loss) for the period to be appropriated | 9905 | €3,428 | €63,704 | +€60,276 | +1,759% |
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 15 October 2026 via checked.be.