WALBERT: what changed
Two fiscal 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.
WALBERT
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€93,072
up €93,072 (+45.4%), from €205,163 to €298,234
mainly Current investments (+€100,000) and Net result for the year (+€75,946)
- Tangible fixed assets -€44,661
down €44,661 (-10.6%), from €419,677 to €375,016
of which Land and buildings: -€31,681
- Receivables within one year +€9,500
up €9,500 (+22.6%), from €42,087 to €51,587
of which Trade receivables: +€9,500
- Other debts -€116,441
down €116,441 (-29.8%), from €390,337 to €273,896
- Reserves +€75,946
up €75,946 (+53.9%), from €140,942 to €216,889
of which Distributable reserves: +€75,946
- Gross operating margin +€19,273
up €19,273 (+12.0%), from €160,203 to €179,476
- Taxes +€4,430
up €4,430 (+21.0%), from €21,120 to €25,550
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 | €770,060 | €728,550 | -€41,510 | -5.4% |
| Fixed assets | 21/28 | €419,677 | €375,016 | -€44,661 | -10.6% |
| Tangible fixed assets | 22/27 | €419,677 | €375,016 | -€44,661 | -10.6% |
| Land and buildings | 22 | €363,285 | €331,604 | -€31,681 | -8.7% |
| Plant, machinery and equipment | 23 | €44,153 | €39,219 | -€4,934 | -11.2% |
| Furniture and vehicles | 24 | €12,239 | €4,193 | -€8,046 | -65.7% |
| Current assets | 29/58 | €350,383 | €353,534 | +€3,151 | +0.9% |
| Amounts receivable within one year | 40/41 | €42,087 | €51,587 | +€9,500 | +22.6% |
| Trade receivables | 40 | €38,000 | €47,500 | +€9,500 | +25.0% |
| Other amounts receivable | 41 | €4,087 | €4,087 | = | 0.0% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €205,163 | €298,234 | +€93,072 | +45.4% |
| Deferred charges and accrued income | 490/1 | €3,134 | €3,713 | +€579 | +18.5% |
| Total equity and liabilities | 10/49 | €770,060 | €728,550 | -€41,510 | -5.4% |
| Equity | 10/15 | €373,340 | €449,286 | +€75,946 | +20.3% |
| Contributions | 10/11 | €232,397 | €232,397 | = | 0.0% |
| Capital | 10 | €217,524 | €217,524 | = | 0.0% |
| Issued capital | 100 | €217,524 | €217,524 | = | 0.0% |
| Outside capital | 11 | €14,874 | €14,874 | = | 0.0% |
| Share premium | 1100/10 | €14,874 | €14,874 | = | 0.0% |
| Reserves | 13 | €140,942 | €216,889 | +€75,946 | +53.9% |
| Non-distributable reserves | 130/1 | €22,413 | €22,413 | = | 0.0% |
| Legal reserve | 130 | €22,413 | €22,413 | = | 0.0% |
| Distributable reserves | 133 | €118,530 | €194,476 | +€75,946 | +64.1% |
| Amounts payable | 17/49 | €396,721 | €279,264 | -€117,457 | -29.6% |
| Amounts payable within one year | 42/48 | €396,721 | €279,264 | -€117,457 | -29.6% |
| Trade debts | 44 | €6,383 | €4,818 | -€1,566 | -24.5% |
| Suppliers | 440/4 | €6,383 | €4,818 | -€1,566 | -24.5% |
| Taxes, remuneration and social security | 45 | - | €550 | +€550 | |
| Taxes | 450/3 | - | €550 | +€550 | |
| Other amounts payable | 47/48 | €390,337 | €273,896 | -€116,441 | -29.8% |
| Non-recurring operating income | 76A | €2,282 | - | -€2,282 | |
| Remuneration, social security and pensions | 62 | €1,662 | - | -€1,662 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,423 | €49,270 | +€847 | +1.8% |
| Other operating charges | 640/8 | €26,693 | €27,317 | +€623 | +2.3% |
| Non-recurring operating charges | 66A | - | €584 | +€584 | |
| Gross operating margin | 9900 | €160,203 | €179,476 | +€19,273 | +12.0% |
| Operating profit (loss) | 9901 | €83,425 | €102,305 | +€18,880 | +22.6% |
| Financial income | 75/76B | €3 | €8 | +€5 | +215.5% |
| Recurring financial income | 75 | €3 | €8 | +€5 | +215.5% |
| Financial charges | 65/66B | €781 | €816 | +€35 | +4.5% |
| Recurring financial charges | 65 | €781 | €816 | +€35 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €82,646 | €101,496 | +€18,850 | +22.8% |
| Income taxes | 67/77 | €21,120 | €25,550 | +€4,430 | +21.0% |
| Profit (loss) for the period | 9904 | €61,526 | €75,946 | +€14,420 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €61,526 | €75,946 | +€14,420 | +23.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.