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
- Receivables within one year +€2.3m
up €2.3m (+92.3%), from €2.5m to €4.9m
of which Other amounts receivable: +€1.4m
- Financial fixed assets +€1.0m
up €1.0m (+40,281%), from €2,483 to €1.0m
- Deferred charges and accrued income +€135,051
up €135,051 (+225%), from €59,949 to €195,000
- Cash +€109,567
up €109,567 (+8.9%), from €1.2m to €1.3m
mainly Net result for the year (+€1.4m) and Tax, wage and social debts (+€847,260)
- Reserves +€924,289
up €924,289 (+32.3%), from €2.9m to €3.8m
of which Distributable reserves: +€924,289
- Tax, wage and social debts +€847,260
up €847,260 (+277%), from €306,118 to €1.2m
of which Taxes: +€836,348
- Trade debts +€655,082
up €655,082 (+48.8%), from €1.3m to €2.0m
- Current portion of long-term debt +€652,456
up €652,456 (+1,222%), from €53,380 to €705,836
- Debts after one year +€600,000
up €600,000 (+1,065%), from €56,322 to €656,322
- Taxes -€307,849
down €307,849 (-97.4%), from €316,133 to €8,284
- Staff costs -€244,016
down €244,016 (-17.0%), from €1.4m to €1.2m
- Gross operating margin +€172,537
up €172,537 (+5.6%), from €3.1m to €3.3m
- Depreciation +€153,836
up €153,836 (+52.6%), from €292,369 to €446,204
- Write-downs -€107,258
down €107,258 (-40.1%), from €267,782 to €160,524
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 | €5,216,940 | €8,870,186 | +€3.7m | +70.0% |
| Fixed assets | 21/28 | €1,146,379 | €2,165,838 | +€1.0m | +88.9% |
| Intangible fixed assets | 21 | €19,875 | €0 | -€19,875 | -100% |
| Tangible fixed assets | 22/27 | €1,124,022 | €1,163,356 | +€39,334 | +3.5% |
| Land and buildings | 22 | €402,221 | €358,806 | -€43,415 | -10.8% |
| Plant, machinery and equipment | 23 | €113,974 | €126,870 | +€12,896 | +11.3% |
| Furniture and vehicles | 24 | €607,827 | €677,680 | +€69,853 | +11.5% |
| Financial fixed assets | 28 | €2,483 | €1,002,483 | +€1.0m | +40,281% |
| Current assets | 29/58 | €4,070,561 | €6,704,348 | +€2.6m | +64.7% |
| Stocks and contracts in progress | 3 | €240,864 | €288,447 | +€47,583 | +19.8% |
| Stocks | 30/36 | €240,864 | €288,447 | +€47,583 | +19.8% |
| Amounts receivable within one year | 40/41 | €2,535,822 | €4,877,408 | +€2.3m | +92.3% |
| Trade receivables | 40 | €2,488,358 | €3,477,830 | +€989,472 | +39.8% |
| Other amounts receivable | 41 | €47,464 | €1,399,578 | +€1.4m | +2,849% |
| Cash at bank and in hand | 54/58 | €1,233,926 | €1,343,493 | +€109,567 | +8.9% |
| Deferred charges and accrued income | 490/1 | €59,949 | €195,000 | +€135,051 | +225% |
| Total equity and liabilities | 10/49 | €5,216,940 | €8,870,186 | +€3.7m | +70.0% |
| Equity | 10/15 | €3,088,699 | €4,012,988 | +€924,289 | +29.9% |
| Contributions | 10/11 | €199,800 | €199,800 | = | 0.0% |
| Reserves | 13 | €2,864,262 | €3,788,550 | +€924,289 | +32.3% |
| Non-distributable reserves | 130/1 | €19,980 | €19,980 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,980 | €19,980 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,806,782 | €3,731,070 | +€924,289 | +32.9% |
| Investment grants | 15 | €24,638 | €24,638 | = | 0.0% |
| Provisions and deferred taxes | 16 | €4,758 | €4,758 | = | 0.0% |
| Deferred taxes | 168 | €4,758 | €4,758 | = | 0.0% |
| Amounts payable | 17/49 | €2,123,482 | €4,852,440 | +€2.7m | +129% |
| Amounts payable after more than one year | 17 | €56,322 | €656,322 | +€600,000 | +1,065% |
| Financial debts | 170/4 | €56,322 | €656,322 | +€600,000 | +1,065% |
| Amounts payable within one year | 42/48 | €2,067,161 | €4,190,796 | +€2.1m | +103% |
| Current portion of amounts payable after more than one year | 42 | €53,380 | €705,836 | +€652,456 | +1,222% |
| Trade debts | 44 | €1,342,531 | €1,997,613 | +€655,082 | +48.8% |
| Suppliers | 440/4 | €1,342,531 | €1,997,613 | +€655,082 | +48.8% |
| Taxes, remuneration and social security | 45 | €306,118 | €1,153,378 | +€847,260 | +277% |
| Taxes | 450/3 | €247,160 | €1,083,507 | +€836,348 | +338% |
| Remuneration and social security | 454/9 | €58,958 | €69,871 | +€10,912 | +18.5% |
| Other amounts payable | 47/48 | €365,132 | €333,969 | -€31,163 | -8.5% |
| Accrued charges and deferred income | 492/3 | - | €5,322 | +€5,322 | |
| Remuneration, social security and pensions | 62 | €1,434,895 | €1,190,878 | -€244,016 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292,369 | €446,204 | +€153,836 | +52.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €267,782 | €160,524 | -€107,258 | -40.1% |
| Other operating charges | 640/8 | €141,103 | €62,726 | -€78,377 | -55.5% |
| Gross operating margin | 9900 | €3,104,425 | €3,276,962 | +€172,537 | +5.6% |
| Operating profit (loss) | 9901 | €968,276 | €1,416,630 | +€448,353 | +46.3% |
| Financial income | 75/76B | €3,494 | €8 | -€3,486 | -99.8% |
| Recurring financial income | 75 | €3,494 | €8 | -€3,486 | -99.8% |
| Financial charges | 65/66B | €13,077 | €9,816 | -€3,261 | -24.9% |
| Recurring financial charges | 65 | €13,077 | €9,816 | -€3,261 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €958,693 | €1,406,821 | +€448,128 | +46.7% |
| Transfer from deferred taxes | 780 | €1,645 | - | -€1,645 | |
| Income taxes | 67/77 | €316,133 | €8,284 | -€307,849 | -97.4% |
| Profit (loss) for the period | 9904 | €644,206 | €1,398,537 | +€754,331 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €644,206 | €1,398,537 | +€754,331 | +117% |
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.