DE WALVIS: 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 WALVIS
Largest movements
- Tangible fixed assets +€328,186
up €328,186 (+197.7%), from €165,990 to €494,176
of which Land and buildings: +€395,616
- Receivables within one year +€152,152
up €152,152 (+184.2%), from €82,624 to €234,776
of which Other amounts receivable: +€152,178
- Stocks and contracts -€21,750
down €21,750 (-51.1%), from €42,600 to €20,850
- Debts after one year +€292,899
up €292,899 (+1923.8%), from €15,225 to €308,124
of which Financial debts: +€292,899
- Other debts +€194,907
up €194,907, from €0 to €194,907
- Reserves -€68,434
down €68,434 (-14.4%), from €473,964 to €405,530
of which Distributable reserves: -€68,434
- Tax, wage and social debts +€15,754
up €15,754 (+29.8%), from €52,881 to €68,636
of which Taxes: +€22,363
- Trade debts +€14,144
up €14,144 (+33.3%), from €42,440 to €56,584
- Staff costs -€48,526
down €48,526 (-11.4%), from €423,813 to €375,287
- Gross operating margin +€42,534
up €42,534 (+7.3%), from €584,047 to €626,581
- Taxes +€30,934
up €30,934 (+106.3%), from €29,105 to €60,039
- Depreciation +€10,684
up €10,684 (+20.9%), from €51,118 to €61,801
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 | €642,271 | €1,102,377 | +€460,105 | +71.6% |
| Fixed assets | 21/28 | €175,830 | €499,490 | +€323,660 | +184.1% |
| Tangible fixed assets | 22/27 | €165,990 | €494,176 | +€328,186 | +197.7% |
| Land and buildings | 22 | - | €395,616 | +€395,616 | |
| Plant, machinery and equipment | 23 | €52,025 | €31,661 | -€20,364 | -39.1% |
| Furniture and vehicles | 24 | €96,406 | €66,898 | -€29,508 | -30.6% |
| Other tangible fixed assets | 26 | €17,558 | €0 | -€17,558 | -100.0% |
| Financial fixed assets | 28 | €9,841 | €5,315 | -€4,526 | -46.0% |
| Current assets | 29/58 | €466,441 | €602,886 | +€136,445 | +29.3% |
| Amounts receivable after more than one year | 29 | €285,000 | €285,000 | = | 0.0% |
| Other amounts receivable | 291 | €285,000 | €285,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €42,600 | €20,850 | -€21,750 | -51.1% |
| Stocks | 30/36 | €42,600 | €20,850 | -€21,750 | -51.1% |
| Amounts receivable within one year | 40/41 | €82,624 | €234,776 | +€152,152 | +184.2% |
| Trade receivables | 40 | €8,513 | €8,487 | -€26 | -0.3% |
| Other amounts receivable | 41 | €74,111 | €226,289 | +€152,178 | +205.3% |
| Cash at bank and in hand | 54/58 | €29,947 | €29,956 | +€10 | 0.0% |
| Deferred charges and accrued income | 490/1 | €26,271 | €32,304 | +€6,034 | +23.0% |
| Total equity and liabilities | 10/49 | €642,271 | €1,102,377 | +€460,105 | +71.6% |
| Equity | 10/15 | €480,471 | €412,037 | -€68,434 | -14.2% |
| Contributions | 10/11 | €6,507 | €6,507 | = | 0.0% |
| Reserves | 13 | €473,964 | €405,530 | -€68,434 | -14.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €473,964 | €405,530 | -€68,434 | -14.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €161,800 | €690,340 | +€528,539 | +326.7% |
| Amounts payable after more than one year | 17 | €15,225 | €308,124 | +€292,899 | +1923.8% |
| Financial debts | 170/4 | €15,225 | €308,124 | +€292,899 | +1923.8% |
| Advances received on contracts in progress | 176 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €143,657 | €375,059 | +€231,402 | +161.1% |
| Current portion of amounts payable after more than one year | 42 | €38,335 | €44,847 | +€6,512 | +17.0% |
| Financial debts | 43 | €10,000 | €10,086 | +€86 | +0.9% |
| Credit institutions | 430/8 | €10,000 | €10,086 | +€86 | +0.9% |
| Trade debts | 44 | €42,440 | €56,584 | +€14,144 | +33.3% |
| Suppliers | 440/4 | €42,440 | €56,584 | +€14,144 | +33.3% |
| Taxes, remuneration and social security | 45 | €52,881 | €68,636 | +€15,754 | +29.8% |
| Taxes | 450/3 | €29,832 | €52,195 | +€22,363 | +75.0% |
| Remuneration and social security | 454/9 | €23,049 | €16,440 | -€6,608 | -28.7% |
| Other amounts payable | 47/48 | €0 | €194,907 | +€194,907 | |
| Accrued charges and deferred income | 492/3 | €2,919 | €7,157 | +€4,239 | +145.2% |
| Non-recurring operating income | 76A | €0 | €69,708 | +€69,708 | |
| Remuneration, social security and pensions | 62 | €423,813 | €375,287 | -€48,526 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,118 | €61,801 | +€10,684 | +20.9% |
| Other operating charges | 640/8 | €10,160 | €7,640 | -€2,520 | -24.8% |
| Non-recurring operating charges | 66A | €6,711 | €0 | -€6,711 | -100.0% |
| Gross operating margin | 9900 | €584,047 | €626,581 | +€42,534 | +7.3% |
| Operating profit (loss) | 9901 | €92,245 | €181,853 | +€89,608 | +97.1% |
| Financial income | 75/76B | €10,896 | €15,177 | +€4,280 | +39.3% |
| Recurring financial income | 75 | €10,896 | €15,177 | +€4,280 | +39.3% |
| Financial charges | 65/66B | €11,770 | €10,517 | -€1,253 | -10.6% |
| Recurring financial charges | 65 | €11,770 | €10,517 | -€1,253 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €91,371 | €186,512 | +€95,141 | +104.1% |
| Income taxes | 67/77 | €29,105 | €60,039 | +€30,934 | +106.3% |
| Profit (loss) for the period | 9904 | €62,266 | €126,473 | +€64,207 | +103.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,266 | €126,473 | +€64,207 | +103.1% |
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 4 October 2026 via checked.be.