THE WALDEN: 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.
THE WALDEN
Largest movements
- Tangible fixed assets +€886,437
up €886,437 (+158.3%), from €560,000 to €1.4m
- Revaluation surpluses +€886,437
new in 2025: €886,437
- Short-term financial debts +€335,000
new in 2025: €335,000
- Other debts -€304,650
down €304,650 (-51.4%), from €593,074 to €288,424
- Profit (loss) carried forward -€38,829
down €38,829 (-29.5%), from -€131,765 to -€170,594
- Gross operating margin +€96,304
up €96,304 (+73.7%), from -€130,642 to -€34,338
- Financial charges +€3,990
up €3,990 (+3967.4%), from €101 to €4,091
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 | €561,309 | €1,448,991 | +€887,682 | +158.1% |
| Fixed assets | 21/28 | €560,000 | €1,446,437 | +€886,437 | +158.3% |
| Tangible fixed assets | 22/27 | €560,000 | €1,446,437 | +€886,437 | +158.3% |
| Land and buildings | 22 | €560,000 | €1,446,437 | +€886,437 | +158.3% |
| Current assets | 29/58 | €1,309 | €2,554 | +€1,245 | +95.2% |
| Amounts receivable within one year | 40/41 | €1,279 | €2,172 | +€893 | +69.8% |
| Other amounts receivable | 41 | €1,279 | €2,172 | +€893 | +69.8% |
| Cash at bank and in hand | 54/58 | €30 | €383 | +€353 | +1179.8% |
| Total equity and liabilities | 10/49 | €561,309 | €1,448,991 | +€887,682 | +158.1% |
| Equity | 10/15 | -€31,765 | €815,843 | +€847,608 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €886,437 | +€886,437 | |
| Profit (loss) carried forward | 14 | -€131,765 | -€170,594 | -€38,829 | -29.5% |
| Amounts payable | 17/49 | €593,074 | €633,148 | +€40,074 | +6.8% |
| Amounts payable within one year | 42/48 | €593,074 | €633,148 | +€40,074 | +6.8% |
| Financial debts | 43 | - | €335,000 | +€335,000 | |
| Credit institutions | 430/8 | - | €335,000 | +€335,000 | |
| Trade debts | 44 | - | €9,724 | +€9,724 | |
| Suppliers | 440/4 | - | €9,724 | +€9,724 | |
| Other amounts payable | 47/48 | €593,074 | €288,424 | -€304,650 | -51.4% |
| Other operating charges | 640/8 | €1,023 | €400 | -€623 | -60.9% |
| Gross operating margin | 9900 | -€130,642 | -€34,338 | +€96,304 | +73.7% |
| Operating profit (loss) | 9901 | -€131,664 | -€34,738 | +€96,926 | +73.6% |
| Financial charges | 65/66B | €101 | €4,091 | +€3,990 | +3967.4% |
| Recurring financial charges | 65 | €101 | €4,091 | +€3,990 | +3967.4% |
| Profit (loss) for the period before taxes | 9903 | -€131,765 | -€38,829 | +€92,936 | +70.5% |
| Profit (loss) for the period | 9904 | -€131,765 | -€38,829 | +€92,936 | +70.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€131,765 | -€38,829 | +€92,936 | +70.5% |
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 2 October 2026 via checked.be.