DE WALRUS: what changed
Two fiscal 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 WALRUS
Largest movements
- Tangible fixed assets -€17,873
down €17,873 (-4.9%), from €364,394 to €346,521
of which Land and buildings: -€16,378
- Cash +€13,215
up €13,215 (+4871.8%), from €271 to €13,487
mainly Debts after one year (+€150,000) and Depreciation (+€19,749)
- Receivables within one year -€11,761
down €11,761 (-84.5%), from €13,921 to €2,160
of which Trade receivables: -€9,436
- Debts after one year +€150,000
up €150,000 (+68.8%), from €218,000 to €368,000
- Other debts -€147,949
down €147,949 (-68.6%), from €215,738 to €67,789
- Profit (loss) carried forward -€26,083
down €26,083 (-10.6%), from -€247,116 to -€273,200
- Accrued charges and deferred income +€10,496
up €10,496 (+17.8%), from €58,870 to €69,366
- Gross operating margin -€20,689
down €20,689 (-72.6%), from €28,504 to €7,815
- Taxes -€2,473
no longer reported in 2025 (was €2,473)
- Depreciation -€914
down €914 (-4.4%), from €20,663 to €19,749
- Other operating charges -€403
down €403 (-10.8%), from €3,729 to €3,326
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 | €381,140 | €365,068 | -€16,073 | -4.2% |
| Fixed assets | 21/28 | €364,394 | €346,521 | -€17,873 | -4.9% |
| Tangible fixed assets | 22/27 | €364,394 | €346,521 | -€17,873 | -4.9% |
| Land and buildings | 22 | €359,990 | €343,611 | -€16,378 | -4.5% |
| Plant, machinery and equipment | 23 | €4,404 | €2,287 | -€2,117 | -48.1% |
| Furniture and vehicles | 24 | - | €622 | +€622 | |
| Current assets | 29/58 | €16,746 | €18,547 | +€1,800 | +10.8% |
| Amounts receivable within one year | 40/41 | €13,921 | €2,160 | -€11,761 | -84.5% |
| Trade receivables | 40 | €11,596 | €2,160 | -€9,436 | -81.4% |
| Other amounts receivable | 41 | €2,325 | - | -€2,325 | |
| Cash at bank and in hand | 54/58 | €271 | €13,487 | +€13,215 | +4871.8% |
| Deferred charges and accrued income | 490/1 | €2,555 | €2,901 | +€346 | +13.6% |
| Total equity and liabilities | 10/49 | €381,140 | €365,068 | -€16,073 | -4.2% |
| Equity | 10/15 | -€115,916 | -€142,000 | -€26,083 | -22.5% |
| Contributions | 10/11 | €131,200 | €131,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€247,116 | -€273,200 | -€26,083 | -10.6% |
| Amounts payable | 17/49 | €497,057 | €507,068 | +€10,011 | +2.0% |
| Amounts payable after more than one year | 17 | €218,000 | €368,000 | +€150,000 | +68.8% |
| Financial debts | 170/4 | €218,000 | €368,000 | +€150,000 | +68.8% |
| Amounts payable within one year | 42/48 | €220,187 | €69,701 | -€150,485 | -68.3% |
| Trade debts | 44 | €1,976 | €452 | -€1,524 | -77.1% |
| Suppliers | 440/4 | €1,976 | €452 | -€1,524 | -77.1% |
| Taxes, remuneration and social security | 45 | €2,473 | €1,460 | -€1,013 | -41.0% |
| Taxes | 450/3 | €2,473 | €1,460 | -€1,013 | -41.0% |
| Other amounts payable | 47/48 | €215,738 | €67,789 | -€147,949 | -68.6% |
| Accrued charges and deferred income | 492/3 | €58,870 | €69,366 | +€10,496 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,663 | €19,749 | -€914 | -4.4% |
| Other operating charges | 640/8 | €3,729 | €3,326 | -€403 | -10.8% |
| Gross operating margin | 9900 | €28,504 | €7,815 | -€20,689 | -72.6% |
| Operating profit (loss) | 9901 | €4,112 | -€15,260 | -€19,372 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €10,740 | €10,824 | +€84 | +0.8% |
| Recurring financial charges | 65 | €10,740 | €10,824 | +€84 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,626 | -€26,083 | -€19,458 | -293.7% |
| Income taxes | 67/77 | €2,473 | - | -€2,473 | |
| Profit (loss) for the period | 9904 | -€9,099 | -€26,083 | -€16,985 | -186.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,099 | -€26,083 | -€16,985 | -186.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.