WAL-VENT: 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.
WAL-VENT
Largest movements
- Cash +€361,642
up €361,642 (+66.0%), from €547,536 to €909,178
mainly Current portion of long-term debt (+€2.6m) and Depreciation (+€181,958)
- Tangible fixed assets -€168,610
down €168,610 (-5.9%), from €2.9m to €2.7m
of which Plant, machinery and equipment: -€168,368
- Deferred charges and accrued income -€133,669
down €133,669 (-84.8%), from €157,560 to €23,890
- Receivables within one year -€77,194
down €77,194 (-9.2%), from €835,466 to €758,272
of which Other amounts receivable: -€705,861
- Current portion of long-term debt +€2.6m
up €2.6m, from €0 to €2.6m
- Debts after one year -€2.5m
down €2.5m (-100.0%), from €2.5m to €0
- Trade debts -€188,699
down €188,699 (-53.7%), from €351,517 to €162,818
- Profit (loss) carried forward +€137,181
up €137,181 (+10.5%), from €1.3m to €1.4m
- Gross operating margin +€218,622
up €218,622 (+95.6%), from €228,716 to €447,338
- Taxes -€106,565
down €106,565 (-97.2%), from €109,645 to €3,080
- Financial charges -€27,915
down €27,915 (-22.6%), from €123,302 to €95,387
- Other operating charges -€13,145
down €13,145 (-24.2%), from €54,219 to €41,074
- Provisions +€12,103
up €12,103 (+165.8%), from €7,301 to €19,404
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 | €4,781,093 | €4,751,703 | -€29,390 | -0.6% |
| Fixed assets | 21/28 | €3,240,532 | €3,060,362 | -€180,169 | -5.6% |
| Intangible fixed assets | 21 | €213,574 | €200,226 | -€13,348 | -6.2% |
| Tangible fixed assets | 22/27 | €2,866,606 | €2,697,996 | -€168,610 | -5.9% |
| Land and buildings | 22 | €4,354 | €4,112 | -€242 | -5.6% |
| Plant, machinery and equipment | 23 | €2,862,252 | €2,693,884 | -€168,368 | -5.9% |
| Financial fixed assets | 28 | €160,352 | €162,140 | +€1,789 | +1.1% |
| Current assets | 29/58 | €1,540,561 | €1,691,340 | +€150,779 | +9.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €835,466 | €758,272 | -€77,194 | -9.2% |
| Trade receivables | 40 | €111,875 | €740,543 | +€628,667 | +561.9% |
| Other amounts receivable | 41 | €723,590 | €17,729 | -€705,861 | -97.5% |
| Cash at bank and in hand | 54/58 | €547,536 | €909,178 | +€361,642 | +66.0% |
| Deferred charges and accrued income | 490/1 | €157,560 | €23,890 | -€133,669 | -84.8% |
| Total equity and liabilities | 10/49 | €4,781,093 | €4,751,703 | -€29,390 | -0.6% |
| Equity | 10/15 | €1,803,834 | €1,912,824 | +€108,990 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,304,128 | €1,441,309 | +€137,181 | +10.5% |
| Investment grants | 15 | €479,246 | €451,055 | -€28,191 | -5.9% |
| Provisions and deferred taxes | 16 | €81,968 | €101,372 | +€19,404 | +23.7% |
| Provisions for liabilities and charges | 160/5 | €81,968 | €101,372 | +€19,404 | +23.7% |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Environmental obligations | 163 | €81,968 | €101,372 | +€19,404 | +23.7% |
| Amounts payable | 17/49 | €2,895,291 | €2,737,507 | -€157,784 | -5.4% |
| Amounts payable after more than one year | 17 | €2,477,415 | €0 | -€2.5m | -100.0% |
| Financial debts | 170/4 | €2,477,415 | €0 | -€2.5m | -100.0% |
| Amounts payable within one year | 42/48 | €400,815 | €2,736,012 | +€2.3m | +582.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €2,570,881 | +€2.6m | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €351,517 | €162,818 | -€188,699 | -53.7% |
| Suppliers | 440/4 | €351,517 | €162,818 | -€188,699 | -53.7% |
| Taxes, remuneration and social security | 45 | €14,196 | €2,314 | -€11,882 | -83.7% |
| Taxes | 450/3 | €14,196 | €2,314 | -€11,882 | -83.7% |
| Other amounts payable | 47/48 | €35,103 | €0 | -€35,103 | -100.0% |
| Accrued charges and deferred income | 492/3 | €17,061 | €1,495 | -€15,566 | -91.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,958 | €181,958 | -€0 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €7,301 | €19,404 | +€12,103 | +165.8% |
| Other operating charges | 640/8 | €54,219 | €41,074 | -€13,145 | -24.2% |
| Gross operating margin | 9900 | €228,716 | €447,338 | +€218,622 | +95.6% |
| Operating profit (loss) | 9901 | -€14,762 | €204,902 | +€219,664 | |
| Financial income | 75/76B | €37,730 | €30,746 | -€6,984 | -18.5% |
| Recurring financial income | 75 | €37,730 | €30,746 | -€6,984 | -18.5% |
| Financial charges | 65/66B | €123,302 | €95,387 | -€27,915 | -22.6% |
| Recurring financial charges | 65 | €123,302 | €95,387 | -€27,915 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | -€100,335 | €140,261 | +€240,596 | |
| Income taxes | 67/77 | €109,645 | €3,080 | -€106,565 | -97.2% |
| Profit (loss) for the period | 9904 | -€209,979 | €137,181 | +€347,160 | |
| Profit (loss) for the period to be appropriated | 9905 | -€209,979 | €137,181 | +€347,160 |
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 10 October 2026 via checked.be.