De Wallen: 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 Wallen
Largest movements
- Cash -€658,787
down €658,787 (-36.3%), from €1.8m to €1.2m
mainly Contributions, distributions and other (-€4.4m) and Provisions (-€234,270)
- Tangible fixed assets -€165,618
down €165,618 (-5.5%), from €3.0m to €2.9m
of which Land and buildings: -€142,568
- Reserves -€4.1m
down €4.1m (-99.8%), from €4.1m to €8,932
of which Distributable reserves: -€3.4m
- Other debts +€3.2m
up €3.2m (+215.1%), from €1.5m to €4.7m
- Tax, wage and social debts +€320,006
up €320,006 (+395.9%), from €80,823 to €400,829
of which Taxes: +€319,706
- Provisions -€234,270
down €234,270 (-100.0%), from €234,270 to €0
- Gross operating margin -€1.0m
down €1.0m (-56.8%), from €1.8m to €785,681
- Taxes -€49,366
down €49,366 (-12.1%), from €409,215 to €359,848
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.
Cash bridge derived
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 | €6,085,995 | €5,255,365 | -€830,630 | -13.6% |
| Fixed assets | 21/28 | €3,022,377 | €2,856,759 | -€165,618 | -5.5% |
| Tangible fixed assets | 22/27 | €3,022,377 | €2,856,759 | -€165,618 | -5.5% |
| Land and buildings | 22 | €2,954,033 | €2,811,465 | -€142,568 | -4.8% |
| Plant, machinery and equipment | 23 | €32,911 | €24,071 | -€8,840 | -26.9% |
| Furniture and vehicles | 24 | €35,434 | €21,223 | -€14,211 | -40.1% |
| Current assets | 29/58 | €3,063,618 | €2,398,606 | -€665,012 | -21.7% |
| Amounts receivable within one year | 40/41 | €39,055 | €43,958 | +€4,903 | +12.6% |
| Trade receivables | 40 | €27,393 | €35,840 | +€8,448 | +30.8% |
| Other amounts receivable | 41 | €11,662 | €8,117 | -€3,544 | -30.4% |
| Current investments | 50/53 | €1,180,412 | €1,180,412 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,816,058 | €1,157,271 | -€658,787 | -36.3% |
| Deferred charges and accrued income | 490/1 | €28,093 | €16,965 | -€11,128 | -39.6% |
| Total equity and liabilities | 10/49 | €6,085,995 | €5,255,365 | -€830,630 | -13.6% |
| Equity | 10/15 | €4,194,590 | €83,932 | -€4.1m | -98.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €4,119,590 | €8,932 | -€4.1m | -99.8% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €671,333 | €389 | -€670,944 | -99.9% |
| Distributable reserves | 133 | €3,440,757 | €1,043 | -€3.4m | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €234,270 | €0 | -€234,270 | -100.0% |
| Deferred taxes | 168 | €234,270 | €0 | -€234,270 | -100.0% |
| Amounts payable | 17/49 | €1,657,135 | €5,171,433 | +€3.5m | +212.1% |
| Amounts payable within one year | 42/48 | €1,594,046 | €5,094,343 | +€3.5m | +219.6% |
| Trade debts | 44 | €27,123 | €10,188 | -€16,935 | -62.4% |
| Suppliers | 440/4 | €27,123 | €10,188 | -€16,935 | -62.4% |
| Taxes, remuneration and social security | 45 | €80,823 | €400,829 | +€320,006 | +395.9% |
| Taxes | 450/3 | €80,823 | €400,529 | +€319,706 | +395.6% |
| Remuneration and social security | 454/9 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | €1,486,100 | €4,683,326 | +€3.2m | +215.1% |
| Accrued charges and deferred income | 492/3 | €63,089 | €77,090 | +€14,001 | +22.2% |
| Non-recurring operating income | 76A | €1,217,857 | €0 | -€1.2m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230,846 | €239,174 | +€8,328 | +3.6% |
| Other operating charges | 640/8 | €82,160 | €76,087 | -€6,073 | -7.4% |
| Gross operating margin | 9900 | €1,820,461 | €785,681 | -€1.0m | -56.8% |
| Operating profit (loss) | 9901 | €1,507,455 | €470,420 | -€1.0m | -68.8% |
| Financial income | 75/76B | €12,166 | €1,155 | -€11,011 | -90.5% |
| Recurring financial income | 75 | €12,166 | €1,155 | -€11,011 | -90.5% |
| Financial charges | 65/66B | €35,949 | €34,894 | -€1,054 | -2.9% |
| Recurring financial charges | 65 | €35,949 | €34,894 | -€1,054 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €1,483,673 | €436,681 | -€1.0m | -70.6% |
| Transfer from deferred taxes | 780 | €18,999 | €234,270 | +€215,271 | +1133.1% |
| Income taxes | 67/77 | €409,215 | €359,848 | -€49,366 | -12.1% |
| Profit (loss) for the period | 9904 | €1,093,457 | €311,102 | -€782,355 | -71.5% |
| Transfer from tax-exempt reserves | 789 | €50,927 | €670,944 | +€620,018 | +1217.5% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,144,384 | €982,046 | -€162,338 | -14.2% |
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 10 October 2026 via checked.be.