VAN DE WALLE: 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.
VAN DE WALLE
Largest movements
- Cash +€20,577
up €20,577 (+11.2%), from €183,923 to €204,500
mainly Net result for the year (+€27,734) and Depreciation (+€24,458)
- Receivables within one year +€15,364
up €15,364 (+5,316%), from €289 to €15,653
of which Trade receivables: +€15,065
- Tangible fixed assets -€8,573
down €8,573 (-3.2%), from €269,416 to €260,843
- Reserves +€28,127
up €28,127 (+13.3%), from €211,814 to €239,942
of which Distributable reserves: +€28,127
- Debts after one year -€19,829
down €19,829 (-10.7%), from €184,537 to €164,708
- Trade debts +€12,329
up €12,329 (+122%), from €10,127 to €22,455
- Tax, wage and social debts +€8,381
up €8,381 (+105%), from €8,012 to €16,393
of which Taxes: +€11,025
- Gross operating margin +€21,810
up €21,810 (+17.3%), from €126,037 to €147,847
- Staff costs +€7,653
up €7,653 (+11.5%), from €66,465 to €74,119
- Depreciation -€6,952
down €6,952 (-22.1%), from €31,410 to €24,458
- Taxes +€4,659
up €4,659 (+137%), from €3,394 to €8,053
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 | €458,096 | €484,763 | +€26,667 | +5.8% |
| Fixed assets | 21/28 | €270,116 | €260,843 | -€9,273 | -3.4% |
| Tangible fixed assets | 22/27 | €269,416 | €260,843 | -€8,573 | -3.2% |
| Land and buildings | 22 | €233,616 | €232,653 | -€964 | -0.4% |
| Plant, machinery and equipment | 23 | €16,495 | €12,742 | -€3,753 | -22.8% |
| Furniture and vehicles | 24 | €2,796 | €634 | -€2,163 | -77.3% |
| Other tangible fixed assets | 26 | €16,508 | €14,814 | -€1,694 | -10.3% |
| Financial fixed assets | 28 | €700 | €0 | -€700 | -100% |
| Current assets | 29/58 | €187,980 | €223,920 | +€35,940 | +19.1% |
| Stocks and contracts in progress | 3 | €3,768 | €3,768 | = | 0.0% |
| Stocks | 30/36 | €3,768 | €3,768 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €289 | €15,653 | +€15,364 | +5,316% |
| Trade receivables | 40 | €0 | €15,065 | +€15,065 | |
| Other amounts receivable | 41 | €289 | €588 | +€299 | +104% |
| Cash at bank and in hand | 54/58 | €183,923 | €204,500 | +€20,577 | +11.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €458,096 | €484,763 | +€26,667 | +5.8% |
| Equity | 10/15 | €230,406 | €258,534 | +€28,127 | +12.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €211,814 | €239,942 | +€28,127 | +13.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €209,955 | €238,083 | +€28,127 | +13.4% |
| Amounts payable | 17/49 | €227,689 | €226,229 | -€1,460 | -0.6% |
| Amounts payable after more than one year | 17 | €184,537 | €164,708 | -€19,829 | -10.7% |
| Financial debts | 170/4 | €184,537 | €164,708 | -€19,829 | -10.7% |
| Amounts payable within one year | 42/48 | €43,152 | €61,521 | +€18,369 | +42.6% |
| Current portion of amounts payable after more than one year | 42 | €22,623 | €20,455 | -€2,168 | -9.6% |
| Trade debts | 44 | €10,127 | €22,455 | +€12,329 | +122% |
| Suppliers | 440/4 | €10,127 | €22,455 | +€12,329 | +122% |
| Taxes, remuneration and social security | 45 | €8,012 | €16,393 | +€8,381 | +105% |
| Taxes | 450/3 | €5,285 | €16,311 | +€11,025 | +209% |
| Remuneration and social security | 454/9 | €2,726 | €82 | -€2,645 | -97.0% |
| Other amounts payable | 47/48 | €2,391 | €2,218 | -€173 | -7.2% |
| Remuneration, social security and pensions | 62 | €66,465 | €74,119 | +€7,653 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,410 | €24,458 | -€6,952 | -22.1% |
| Other operating charges | 640/8 | €3,132 | €2,749 | -€383 | -12.2% |
| Non-recurring operating charges | 66A | €2,434 | €0 | -€2,434 | -100% |
| Gross operating margin | 9900 | €126,037 | €147,847 | +€21,810 | +17.3% |
| Operating profit (loss) | 9901 | €22,596 | €46,522 | +€23,926 | +106% |
| Financial income | 75/76B | €836 | €686 | -€150 | -17.9% |
| Recurring financial income | 75 | €836 | €686 | -€150 | -17.9% |
| Financial charges | 65/66B | €11,996 | €11,421 | -€575 | -4.8% |
| Recurring financial charges | 65 | €11,996 | €11,421 | -€575 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €11,436 | €35,787 | +€24,352 | +213% |
| Income taxes | 67/77 | €3,394 | €8,053 | +€4,659 | +137% |
| Profit (loss) for the period | 9904 | €8,042 | €27,734 | +€19,692 | +245% |
| Profit (loss) for the period to be appropriated | 9905 | €8,042 | €27,734 | +€19,692 | +245% |
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.