L. WALLAEYS: 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.
L. WALLAEYS
Largest movements
- Cash -€33,785
down €33,785 (-46.2%), from €73,050 to €39,265
mainly Contributions, distributions and other (-€104,632) and Other debts (-€26,259)
- Current investments -€18,783
down €18,783 (-37.3%), from €50,400 to €31,617
- Tangible fixed assets -€12,841
down €12,841 (-7.7%), from €166,890 to €154,049
- Receivables within one year +€5,381
up €5,381 (+332.3%), from €1,619 to €7,000
of which Other amounts receivable: +€5,755
- Other debts -€26,259
down €26,259 (-40.1%), from €65,492 to €39,233
- Reserves -€25,022
down €25,022 (-15.1%), from €165,620 to €140,598
- Debts after one year -€10,000
down €10,000 (-37.5%), from €26,667 to €16,667
- Taxes +€11,332
up €11,332 (+63.8%), from €17,757 to €29,089
- Gross operating margin +€11,147
up €11,147 (+11.0%), from €101,638 to €112,784
- Other operating charges -€6,962
down €6,962 (-91.9%), from €7,576 to €614
- Financial income +€5,281
up €5,281 (+784.2%), from €673 to €5,955
of which Non-recurring financial income: +€5,727
- Depreciation -€1,564
down €1,564 (-17.0%), from €9,190 to €7,626
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 | €291,959 | €231,931 | -€60,028 | -20.6% |
| Fixed assets | 21/28 | €166,890 | €154,049 | -€12,841 | -7.7% |
| Tangible fixed assets | 22/27 | €166,890 | €154,049 | -€12,841 | -7.7% |
| Land and buildings | 22 | €152,673 | €147,028 | -€5,645 | -3.7% |
| Plant, machinery and equipment | 23 | €8,107 | €6,904 | -€1,202 | -14.8% |
| Furniture and vehicles | 24 | €6,110 | €116 | -€5,994 | -98.1% |
| Current assets | 29/58 | €125,069 | €77,883 | -€47,187 | -37.7% |
| Amounts receivable within one year | 40/41 | €1,619 | €7,000 | +€5,381 | +332.3% |
| Trade receivables | 40 | €374 | €0 | -€374 | -100.0% |
| Other amounts receivable | 41 | €1,246 | €7,000 | +€5,755 | +461.9% |
| Current investments | 50/53 | €50,400 | €31,617 | -€18,783 | -37.3% |
| Cash at bank and in hand | 54/58 | €73,050 | €39,265 | -€33,785 | -46.2% |
| Total equity and liabilities | 10/49 | €291,959 | €231,931 | -€60,028 | -20.6% |
| Equity | 10/15 | €165,620 | €140,598 | -€25,022 | -15.1% |
| Reserves | 13 | €165,620 | €140,598 | -€25,022 | -15.1% |
| Distributable reserves | 133 | €165,620 | €140,598 | -€25,022 | -15.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €126,339 | €91,334 | -€35,006 | -27.7% |
| Amounts payable after more than one year | 17 | €26,667 | €16,667 | -€10,000 | -37.5% |
| Financial debts | 170/4 | €26,667 | €16,667 | -€10,000 | -37.5% |
| Amounts payable within one year | 42/48 | €98,907 | €71,652 | -€27,256 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €15,412 | €15,394 | -€18 | -0.1% |
| Trade debts | 44 | €1,807 | €652 | -€1,156 | -63.9% |
| Suppliers | 440/4 | €1,807 | €652 | -€1,156 | -63.9% |
| Taxes, remuneration and social security | 45 | €16,196 | €16,373 | +€177 | +1.1% |
| Taxes | 450/3 | €16,196 | €16,373 | +€177 | +1.1% |
| Other amounts payable | 47/48 | €65,492 | €39,233 | -€26,259 | -40.1% |
| Accrued charges and deferred income | 492/3 | €765 | €3,015 | +€2,250 | +294.1% |
| Non-recurring operating income | 76A | - | €3,285 | +€3,285 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,190 | €7,626 | -€1,564 | -17.0% |
| Other operating charges | 640/8 | €7,576 | €614 | -€6,962 | -91.9% |
| Gross operating margin | 9900 | €101,638 | €112,784 | +€11,147 | +11.0% |
| Operating profit (loss) | 9901 | €84,872 | €104,544 | +€19,672 | +23.2% |
| Financial income | 75/76B | €673 | €5,955 | +€5,281 | +784.2% |
| Recurring financial income | 75 | €673 | €228 | -€446 | -66.2% |
| Non-recurring financial income | 76B | - | €5,727 | +€5,727 | |
| Financial charges | 65/66B | €2,296 | €1,800 | -€496 | -21.6% |
| Recurring financial charges | 65 | €2,296 | €1,800 | -€496 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €83,249 | €108,699 | +€25,450 | +30.6% |
| Income taxes | 67/77 | €17,757 | €29,089 | +€11,332 | +63.8% |
| Profit (loss) for the period | 9904 | €65,492 | €79,610 | +€14,118 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,492 | €79,610 | +€14,118 | +21.6% |
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 5 October 2026 via checked.be.