WAELKO: what changed
What changed
WAELKO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€39,327
2024 · -€9,651-€29,676
Equity
€1.1m
2024 · €1.2m-€39,327
Cash
€2,237
2024 · €446+€1,791
Balance sheet total
€4.4m
2024 · €4.5m-€44,482
Largest movements
Assets
- Intangible fixed assets -€46,273
down €46,273 (-18.1%), from €255,489 to €209,216
Equity and liabilities
- Other debts +€64,403
up €64,403 (+2.5%), from €2.6m to €2.6m
Income statement
- Gross operating margin -€57,648
down €57,648 (-38.6%), from €149,224 to €91,576
- Financial charges -€26,848
down €26,848 (-28.8%), from €93,078 to €66,229
of which Financial charges: -€27,536
- Depreciation -€9,330
down €9,330 (-16.8%), from €55,603 to €46,273
- Taxes +€4,285
up €4,285 (+39.7%), from €10,796 to €15,081
- Other operating charges +€3,319
new in 2025: €3,319
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€9,651
Gross operating margin
-€57,648
Depreciation
+€9,330
Other operating charges
-€3,319
Financial income
-€602
Financial charges
+€26,848
Taxes
-€4,285
Result 2025
-€39,327
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1,791
Investment
€0
Financing
€0
Cash 2024
€446
From operations (derived)
+€1,791
Net result for the year
-€39,327
Depreciation
+€46,273
Provisions
-€13,178
Trade debts
-€32,585
Tax, wage and social debts
+€10,498
Other debts
+€64,403
Accrued charges and deferred income
-€34,293
Cash 2025
€2,237
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,472,930 | €4,428,448 | -€44,482 | -1.0% |
| Fixed assets | 21/28 | €4,446,533 | €4,400,260 | -€46,273 | -1.0% |
| Intangible fixed assets | 21 | €255,489 | €209,216 | -€46,273 | -18.1% |
| Financial fixed assets | 28 | €4,191,044 | €4,191,044 | = | 0.0% |
| Current assets | 29/58 | €26,396 | €28,188 | +€1,791 | +6.8% |
| Amounts receivable within one year | 40/41 | €25,950 | €25,950 | = | 0.0% |
| Trade receivables | 40 | €25,950 | €25,950 | = | 0.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €446 | €2,237 | +€1,791 | +402% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €4,472,930 | €4,428,448 | -€44,482 | -1.0% |
| Equity | 10/15 | €1,153,759 | €1,114,433 | -€39,327 | -3.4% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €356,964 | €356,964 | = | 0.0% |
| Tax-exempt reserves | 132 | €287,803 | €287,803 | = | 0.0% |
| Distributable reserves | 133 | €69,161 | €69,161 | = | 0.0% |
| Profit (loss) carried forward | 14 | €790,295 | €750,969 | -€39,327 | -5.0% |
| Provisions and deferred taxes | 16 | €563,858 | €550,679 | -€13,178 | -2.3% |
| Provisions for liabilities and charges | 160/5 | €563,858 | €550,679 | -€13,178 | -2.3% |
| Other liabilities and charges | 164/5 | €563,858 | €550,679 | -€13,178 | -2.3% |
| Amounts payable | 17/49 | €2,755,312 | €2,763,336 | +€8,023 | +0.3% |
| Amounts payable within one year | 42/48 | €2,680,508 | €2,722,824 | +€42,316 | +1.6% |
| Trade debts | 44 | €89,996 | €57,411 | -€32,585 | -36.2% |
| Suppliers | 440/4 | €89,996 | €57,411 | -€32,585 | -36.2% |
| Taxes, remuneration and social security | 45 | €6,453 | €16,952 | +€10,498 | +163% |
| Taxes | 450/3 | €6,453 | €16,952 | +€10,498 | +163% |
| Other amounts payable | 47/48 | €2,584,059 | €2,648,462 | +€64,403 | +2.5% |
| Accrued charges and deferred income | 492/3 | €74,804 | €40,511 | -€34,293 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,603 | €46,273 | -€9,330 | -16.8% |
| Other operating charges | 640/8 | - | €3,319 | +€3,319 | |
| Gross operating margin | 9900 | €149,224 | €91,576 | -€57,648 | -38.6% |
| Operating profit (loss) | 9901 | €93,621 | €41,983 | -€51,638 | -55.2% |
| Financial income | 75/76B | €602 | €0 | -€602 | -100% |
| Recurring financial income | 75 | €602 | €0 | -€602 | -100% |
| Financial charges | 65/66B | €93,078 | €66,229 | -€26,848 | -28.8% |
| Recurring financial charges | 65 | €81,704 | €54,169 | -€27,536 | -33.7% |
| Non-recurring financial charges | 66B | €11,374 | €12,061 | +€687 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €1,145 | -€24,246 | -€25,391 | |
| Income taxes | 67/77 | €10,796 | €15,081 | +€4,285 | +39.7% |
| Profit (loss) for the period | 9904 | -€9,651 | -€39,327 | -€29,676 | -307% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,651 | -€39,327 | -€29,676 | -307% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.