GWALPE: 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.
GWALPE
Largest movements
- Tangible fixed assets -€82,705
down €82,705 (-2.5%), from €3.3m to €3.2m
of which Plant, machinery and equipment: -€47,416
- Profit (loss) carried forward -€80,661
down €80,661 (-56.9%), from -€141,704 to -€222,365
- Other operating charges -€1,956
down €1,956 (-20.6%), from €9,507 to €7,551
- Gross operating margin +€1,608
up €1,608 (+5.4%), from €29,666 to €31,274
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 | €3,322,884 | €3,226,847 | -€96,037 | -2.9% |
| Fixed assets | 21/28 | €3,307,324 | €3,224,620 | -€82,704 | -2.5% |
| Tangible fixed assets | 22/27 | €3,307,297 | €3,224,592 | -€82,705 | -2.5% |
| Land and buildings | 22 | €2,799,122 | €2,763,834 | -€35,288 | -1.3% |
| Plant, machinery and equipment | 23 | €508,175 | €460,759 | -€47,416 | -9.3% |
| Financial fixed assets | 28 | €27 | €27 | +€0 | +1.5% |
| Current assets | 29/58 | €15,560 | €2,227 | -€13,333 | -85.7% |
| Cash at bank and in hand | 54/58 | €15,560 | €2,227 | -€13,333 | -85.7% |
| Total equity and liabilities | 10/49 | €3,322,884 | €3,226,847 | -€96,037 | -2.9% |
| Equity | 10/15 | €2,650,902 | €2,570,241 | -€80,661 | -3.0% |
| Contributions | 10/11 | €2,745,665 | €2,745,665 | = | 0.0% |
| Capital | 10 | €2,745,665 | €2,745,665 | = | 0.0% |
| Issued capital | 100 | €2,745,665 | €2,745,665 | = | 0.0% |
| Reserves | 13 | €46,941 | €46,941 | = | 0.0% |
| Non-distributable reserves | 130/1 | €46,941 | €46,941 | = | 0.0% |
| Legal reserve | 130 | €46,941 | €46,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,704 | -€222,365 | -€80,661 | -56.9% |
| Amounts payable | 17/49 | €671,982 | €656,606 | -€15,376 | -2.3% |
| Amounts payable within one year | 42/48 | €671,982 | €656,606 | -€15,376 | -2.3% |
| Trade debts | 44 | €3,965 | €1,843 | -€2,121 | -53.5% |
| Suppliers | 440/4 | €3,965 | €1,843 | -€2,121 | -53.5% |
| Other amounts payable | 47/48 | €668,017 | €654,762 | -€13,255 | -2.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,166 | €104,034 | -€133 | -0.1% |
| Other operating charges | 640/8 | €9,507 | €7,551 | -€1,956 | -20.6% |
| Gross operating margin | 9900 | €29,666 | €31,274 | +€1,608 | +5.4% |
| Operating profit (loss) | 9901 | -€84,007 | -€80,311 | +€3,696 | +4.4% |
| Financial income | 75/76B | €23 | €0 | -€23 | -100.0% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -100.0% |
| Financial charges | 65/66B | €498 | €350 | -€149 | -29.9% |
| Recurring financial charges | 65 | €498 | €350 | -€149 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | -€84,482 | -€80,661 | +€3,821 | +4.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€84,482 | -€80,661 | +€3,821 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,482 | -€80,661 | +€3,821 | +4.5% |
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 11 October 2026 via checked.be.