DE WALS: 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 WALS
Largest movements
- Current investments -€170,000
down €170,000 (-5.0%), from €3.4m to €3.3m
- Tangible fixed assets +€126,583
up €126,583 (+10.9%), from €1.2m to €1.3m
of which Land and buildings: +€126,983
- Receivables within one year -€53,795
down €53,795 (-8.7%), from €618,408 to €564,613
of which Other amounts receivable: -€46,345
- Tax, wage and social debts -€152,847
down €152,847 (-100.0%), from €152,847 to €0
- Gross operating margin +€117,462
up €117,462 (+87.9%), from -€133,555 to -€16,093
- Financial income -€94,131
down €94,131 (-53.9%), from €174,551 to €80,420
- Depreciation -€14,840
down €14,840 (-30.4%), from €48,759 to €33,919
- Taxes +€5,349
up €5,349, from €0 to €5,349
- Other operating charges +€1,804
up €1,804 (+121.1%), from €1,490 to €3,294
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 | €5,316,134 | €5,186,847 | -€129,287 | -2.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,163,520 | €1,292,103 | +€128,583 | +11.1% |
| Tangible fixed assets | 22/27 | €1,163,520 | €1,290,103 | +€126,583 | +10.9% |
| Land and buildings | 22 | €1,159,920 | €1,286,903 | +€126,983 | +10.9% |
| Furniture and vehicles | 24 | €3,600 | €3,200 | -€400 | -11.1% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €4,152,614 | €3,894,744 | -€257,870 | -6.2% |
| Amounts receivable within one year | 40/41 | €618,408 | €564,613 | -€53,795 | -8.7% |
| Trade receivables | 40 | €8,820 | €1,371 | -€7,450 | -84.5% |
| Other amounts receivable | 41 | €609,588 | €563,243 | -€46,345 | -7.6% |
| Current investments | 50/53 | €3,420,000 | €3,250,000 | -€170,000 | -5.0% |
| Cash at bank and in hand | 54/58 | €112,790 | €78,470 | -€34,320 | -30.4% |
| Deferred charges and accrued income | 490/1 | €1,416 | €1,661 | +€245 | +17.3% |
| Total equity and liabilities | 10/49 | €5,316,134 | €5,186,847 | -€129,287 | -2.4% |
| Equity | 10/15 | €5,163,179 | €5,184,908 | +€21,729 | +0.4% |
| Contributions | 10/11 | €417,430 | €417,430 | = | 0.0% |
| Reserves | 13 | €1,549,398 | €1,549,398 | = | 0.0% |
| Distributable reserves | 133 | €1,549,398 | €1,549,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,196,351 | €3,218,080 | +€21,729 | +0.7% |
| Amounts payable | 17/49 | €152,955 | €1,939 | -€151,015 | -98.7% |
| Amounts payable within one year | 42/48 | €152,955 | €1,939 | -€151,015 | -98.7% |
| Trade debts | 44 | €108 | €1,939 | +€1,831 | +1695.4% |
| Suppliers | 440/4 | €108 | €1,939 | +€1,831 | +1695.4% |
| Taxes, remuneration and social security | 45 | €152,847 | €0 | -€152,847 | -100.0% |
| Taxes | 450/3 | €152,847 | €0 | -€152,847 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,759 | €33,919 | -€14,840 | -30.4% |
| Other operating charges | 640/8 | €1,490 | €3,294 | +€1,804 | +121.1% |
| Gross operating margin | 9900 | -€133,555 | -€16,093 | +€117,462 | +87.9% |
| Operating profit (loss) | 9901 | -€183,805 | -€53,306 | +€130,498 | +71.0% |
| Financial income | 75/76B | €174,551 | €80,420 | -€94,131 | -53.9% |
| Recurring financial income | 75 | €174,551 | €80,420 | -€94,131 | -53.9% |
| Financial charges | 65/66B | €42 | €36 | -€6 | -15.0% |
| Recurring financial charges | 65 | €42 | €36 | -€6 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,296 | €27,078 | +€36,374 | |
| Income taxes | 67/77 | €0 | €5,349 | +€5,349 | |
| Profit (loss) for the period | 9904 | -€9,296 | €21,729 | +€31,025 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,296 | €21,729 | +€31,025 |
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 1 October 2026 via checked.be.