DR. WALTER WILBERTS: 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.
DR. WALTER WILBERTS
Largest movements
- Cash +€32,808
up €32,808 (+20.4%), from €160,661 to €193,469
mainly Net result for the year (+€59,036) and Receivables within one year (+€16,861)
- Current investments +€22,293
up €22,293 (+5.6%), from €397,166 to €419,458
- Receivables within one year -€16,861
down €16,861 (-71.3%), from €23,642 to €6,780
of which Other amounts receivable: -€12,815
- Reserves +€19,036
up €19,036 (+4.1%), from €469,457 to €488,493
of which Distributable reserves: +€19,036
- Other debts +€10,418
up €10,418, from €0 to €10,418
- Financial income +€20,873
up €20,873 (+241%), from €8,671 to €29,544
- Depreciation -€5,419
down €5,419 (-55.0%), from €9,847 to €4,429
- Financial charges +€3,119
up €3,119 (+96.7%), from -€3,225 to -€107
- Taxes +€2,339
up €2,339 (+12.8%), from €18,243 to €20,582
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 | €587,686 | €621,338 | +€33,652 | +5.7% |
| Fixed assets | 21/28 | €4,909 | €481 | -€4,429 | -90.2% |
| Tangible fixed assets | 22/27 | €4,909 | €481 | -€4,429 | -90.2% |
| Land and buildings | 22 | €958 | €310 | -€648 | -67.7% |
| Furniture and vehicles | 24 | €3,951 | €171 | -€3,780 | -95.7% |
| Current assets | 29/58 | €582,777 | €620,857 | +€38,081 | +6.5% |
| Amounts receivable within one year | 40/41 | €23,642 | €6,780 | -€16,861 | -71.3% |
| Trade receivables | 40 | €10,658 | €6,612 | -€4,046 | -38.0% |
| Other amounts receivable | 41 | €12,984 | €168 | -€12,815 | -98.7% |
| Current investments | 50/53 | €397,166 | €419,458 | +€22,293 | +5.6% |
| Cash at bank and in hand | 54/58 | €160,661 | €193,469 | +€32,808 | +20.4% |
| Deferred charges and accrued income | 490/1 | €1,308 | €1,150 | -€159 | -12.1% |
| Total equity and liabilities | 10/49 | €587,686 | €621,338 | +€33,652 | +5.7% |
| Equity | 10/15 | €581,857 | €600,893 | +€19,036 | +3.3% |
| Contributions | 10/11 | €112,400 | €112,400 | = | 0.0% |
| Reserves | 13 | €469,457 | €488,493 | +€19,036 | +4.1% |
| Non-distributable reserves | 130/1 | €11,860 | €11,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,860 | €11,860 | = | 0.0% |
| Distributable reserves | 133 | €457,597 | €476,633 | +€19,036 | +4.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €5,829 | €20,445 | +€14,616 | +251% |
| Amounts payable within one year | 42/48 | €5,829 | €20,445 | +€14,616 | +251% |
| Trade debts | 44 | €0 | €121 | +€121 | |
| Suppliers | 440/4 | €0 | €121 | +€121 | |
| Taxes, remuneration and social security | 45 | €5,829 | €9,906 | +€4,076 | +69.9% |
| Taxes | 450/3 | €5,829 | €9,906 | +€4,076 | +69.9% |
| Other amounts payable | 47/48 | €0 | €10,418 | +€10,418 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,847 | €4,429 | -€5,419 | -55.0% |
| Other operating charges | 640/8 | €1,309 | €1,487 | +€178 | +13.6% |
| Gross operating margin | 9900 | €56,248 | €55,883 | -€365 | -0.6% |
| Operating profit (loss) | 9901 | €45,092 | €49,967 | +€4,876 | +10.8% |
| Financial income | 75/76B | €8,671 | €29,544 | +€20,873 | +241% |
| Recurring financial income | 75 | €8,671 | €29,544 | +€20,873 | +241% |
| Financial charges | 65/66B | -€3,225 | -€107 | +€3,119 | +96.7% |
| Recurring financial charges | 65 | -€3,225 | -€107 | +€3,119 | +96.7% |
| Profit (loss) for the period before taxes | 9903 | €56,988 | €79,618 | +€22,630 | +39.7% |
| Income taxes | 67/77 | €18,243 | €20,582 | +€2,339 | +12.8% |
| Profit (loss) for the period | 9904 | €38,746 | €59,036 | +€20,290 | +52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,746 | €59,036 | +€20,290 | +52.4% |
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 29 October 2026 via checked.be.