WALBAUM VINCENT: 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.
WALBAUM VINCENT
Largest movements
- Cash +€92,605
up €92,605 (+61.2%), from €151,219 to €243,824
mainly Other debts (+€258,480) and Net result for the year (+€167,561)
- Receivables within one year +€63,381
up €63,381 (+688%), from €9,214 to €72,595
- Tangible fixed assets +€18,870
up €18,870 (+453%), from €4,161 to €23,031
of which Other tangible fixed assets: +€12,224
- Other debts +€258,480
up €258,480 (+99,415%), from €260 to €258,740
- Reserves -€91,179
down €91,179 (-24.5%), from €371,891 to €280,712
- Gross operating margin +€80,876
up €80,876 (+53.7%), from €150,615 to €231,491
- Taxes +€19,051
up €19,051 (+41.6%), from €45,850 to €64,901
- Financial income -€7,152
down €7,152 (-37.0%), from €19,320 to €12,168
of which Non-recurring financial income: -€9,825
- Other operating charges -€4,692
down €4,692 (-69.7%), from €6,729 to €2,037
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 | €526,173 | €694,161 | +€167,988 | +31.9% |
| Fixed assets | 21/28 | €4,161 | €23,031 | +€18,870 | +453% |
| Tangible fixed assets | 22/27 | €4,161 | €23,031 | +€18,870 | +453% |
| Furniture and vehicles | 24 | €4,161 | €10,807 | +€6,646 | +160% |
| Other tangible fixed assets | 26 | - | €12,224 | +€12,224 | |
| Current assets | 29/58 | €522,012 | €671,130 | +€149,118 | +28.6% |
| Amounts receivable after more than one year | 29 | €336,661 | €336,661 | = | 0.0% |
| Other amounts receivable | 291 | €336,661 | €336,661 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,214 | €72,595 | +€63,381 | +688% |
| Other amounts receivable | 41 | €9,214 | €72,595 | +€63,381 | +688% |
| Cash at bank and in hand | 54/58 | €151,219 | €243,824 | +€92,605 | +61.2% |
| Deferred charges and accrued income | 490/1 | €24,918 | €18,050 | -€6,868 | -27.6% |
| Total equity and liabilities | 10/49 | €526,173 | €694,161 | +€167,988 | +31.9% |
| Equity | 10/15 | €509,849 | €418,670 | -€91,179 | -17.9% |
| Contributions | 10/11 | €9,880 | €9,880 | = | 0.0% |
| Reserves | 13 | €371,891 | €280,712 | -€91,179 | -24.5% |
| Distributable reserves | 133 | €371,891 | €280,712 | -€91,179 | -24.5% |
| Profit (loss) carried forward | 14 | €128,078 | €128,078 | = | 0.0% |
| Amounts payable | 17/49 | €16,324 | €275,491 | +€259,167 | +1,588% |
| Amounts payable within one year | 42/48 | €16,324 | €275,491 | +€259,167 | +1,588% |
| Trade debts | 44 | €1,874 | €3,870 | +€1,996 | +107% |
| Suppliers | 440/4 | €1,874 | €3,870 | +€1,996 | +107% |
| Taxes, remuneration and social security | 45 | €14,190 | €12,881 | -€1,309 | -9.2% |
| Taxes | 450/3 | €13,800 | €9,491 | -€4,309 | -31.2% |
| Remuneration and social security | 454/9 | €390 | €3,390 | +€3,000 | +769% |
| Other amounts payable | 47/48 | €260 | €258,740 | +€258,480 | +99,415% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,221 | €3,400 | +€179 | +5.6% |
| Other operating charges | 640/8 | €6,729 | €2,037 | -€4,692 | -69.7% |
| Gross operating margin | 9900 | €150,615 | €231,491 | +€80,876 | +53.7% |
| Operating profit (loss) | 9901 | €140,665 | €226,054 | +€85,389 | +60.7% |
| Financial income | 75/76B | €19,320 | €12,168 | -€7,152 | -37.0% |
| Recurring financial income | 75 | €9,495 | €12,168 | +€2,673 | +28.2% |
| Non-recurring financial income | 76B | €9,825 | - | -€9,825 | |
| Financial charges | 65/66B | €4,827 | €5,760 | +€933 | +19.3% |
| Recurring financial charges | 65 | €4,827 | €5,760 | +€933 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €155,158 | €232,462 | +€77,304 | +49.8% |
| Income taxes | 67/77 | €45,850 | €64,901 | +€19,051 | +41.6% |
| Profit (loss) for the period | 9904 | €109,308 | €167,561 | +€58,253 | +53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €109,308 | €167,561 | +€58,253 | +53.3% |
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 19 October 2026 via checked.be.