Walden: 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.
What changed
Walden
NACE 86.931, Psychology services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€293,654
2024 · €158,074+€135,580
Equity
€3.2m
2024 · €2.9m+€289,067
Cash
€35,256
2024 · €16,926+€18,330
Balance sheet total
€5.2m
2024 · €4.8m+€400,733
Largest movements
Assets
- Receivables within one year +€354,453
up €354,453 (+15.4%), from €2.3m to €2.7m
of which Other amounts receivable: +€195,421
- Current investments +€60,966
up €60,966 (+14.0%), from €436,957 to €497,923
- Tangible fixed assets -€52,295
down €52,295 (-2.7%), from €1.9m to €1.9m
of which Land and buildings: -€55,410
Equity and liabilities
- Reserves +€658,184
up €658,184 (+38.3%), from €1.7m to €2.4m
- Profit (loss) carried forward -€364,530
down €364,530 (-39.3%), from €926,776 to €562,246
- Debts within one year +€123,007
up €123,007 (+10.8%), from €1.1m to €1.3m
- Debts after one year -€74,067
down €74,067 (-10.7%), from €695,000 to €620,933
of which Financial debts: -€74,067
- Accrued charges and deferred income +€68,923
up €68,923 (+107.2%), from €64,281 to €133,204
Income statement
- Gross operating margin +€378,335
up €378,335 (+9.5%), from €4.0m to €4.4m
- Staff costs +€300,733
up €300,733 (+8.6%), from €3.5m to €3.8m
- Turnover +€159,669
up €159,669 (+7.0%), from €2.3m to €2.4m
- Purchases and services +€90,591
up €90,591 (+11.0%), from €820,944 to €911,535
- Other operating charges -€51,639
down €51,639 (-29.3%), from €176,520 to €124,881
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.
Result 2024
€158,074
Gross operating margin
+€378,335
Staff costs
-€300,733
Depreciation
-€5,097
Write-downs
-€2,944
Other operating charges
+€51,639
Other operating items
+€13,978
Financial income
+€1,253
Financial charges
-€851
Result 2025
€293,654
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.
From operations
+€216,682
Investment
-€119,698
Financing
-€78,654
Cash 2024
€16,926
From operations (derived)
+€216,682
Net result for the year
+€293,654
Depreciation
+€111,666
Stocks and contracts
+€1,726
Receivables within one year
-€354,453
Deferred charges and accrued income
-€21,644
Provisions
-€6,197
Debts within one year
+€123,007
Accrued charges and deferred income
+€68,923
Investment (derived)
-€119,698
Investment in fixed assets (net)
-€58,732
Current investments
-€60,966
Financing
-€78,654
Debts after one year
-€74,067
Contributions, distributions and other
-€4,587
Cash 2025
€35,256
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,779,134 | €5,179,867 | +€400,733 | +8.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,976,103 | €1,923,169 | -€52,934 | -2.7% |
| Intangible fixed assets | 21 | €16,651 | €12,125 | -€4,526 | -27.2% |
| Tangible fixed assets | 22/27 | €1,916,893 | €1,864,598 | -€52,295 | -2.7% |
| Land and buildings | 22 | €1,860,923 | €1,805,513 | -€55,410 | -3.0% |
| Furniture and vehicles | 24 | €55,970 | €55,950 | -€20 | 0.0% |
| Assets under construction and advance payments | 27 | €0 | €3,135 | +€3,135 | |
| Financial fixed assets | 28 | €42,559 | €46,446 | +€3,887 | +9.1% |
| Current assets | 29/58 | €2,803,031 | €3,256,698 | +€453,667 | +16.2% |
| Amounts receivable after more than one year | 29 | €0 | €0 | = | |
| Trade receivables | 290 | €0 | €0 | = | |
| Other amounts receivable | 291 | €0 | €0 | = | |
| Stocks and contracts in progress | 3 | €1,726 | €0 | -€1,726 | -100.0% |
| Stocks | 30/36 | €1,726 | - | -€1,726 | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,305,461 | €2,659,914 | +€354,453 | +15.4% |
| Trade receivables | 40 | €324,026 | €483,058 | +€159,032 | +49.1% |
| Other amounts receivable | 41 | €1,981,435 | €2,176,856 | +€195,421 | +9.9% |
| Current investments | 50/53 | €436,957 | €497,923 | +€60,966 | +14.0% |
| Cash at bank and in hand | 54/58 | €16,926 | €35,256 | +€18,330 | +108.3% |
| Deferred charges and accrued income | 490/1 | €41,961 | €63,605 | +€21,644 | +51.6% |
| Total equity and liabilities | 10/49 | €4,779,134 | €5,179,867 | +€400,733 | +8.4% |
| Equity | 10/15 | €2,864,353 | €3,153,420 | +€289,067 | +10.1% |
| Contributions | 10/11 | €122,674 | €122,674 | = | 0.0% |
| Capital | 10 | €122,674 | €122,674 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | €0 | = | |
| Reserves | 13 | €1,718,000 | €2,376,184 | +€658,184 | +38.3% |
| Profit (loss) carried forward | 14 | €926,776 | €562,246 | -€364,530 | -39.3% |
| Investment grants | 15 | €96,903 | €92,316 | -€4,587 | -4.7% |
| Provisions and deferred taxes | 16 | €13,625 | €7,428 | -€6,197 | -45.5% |
| Provisions for liabilities and charges | 160/5 | €13,625 | €7,428 | -€6,197 | -45.5% |
| Pensions and similar obligations | 160 | €0 | €0 | = | |
| Taxes | 161 | €0 | €0 | = | |
| Major repairs and maintenance | 162 | €13,625 | €7,428 | -€6,197 | -45.5% |
| Environmental obligations | 163 | €0 | €0 | = | |
| Other liabilities and charges | 164/5 | €0 | €0 | = | |
| Deferred taxes | 168 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,901,156 | €2,019,019 | +€117,863 | +6.2% |
| Amounts payable after more than one year | 17 | €695,000 | €620,933 | -€74,067 | -10.7% |
| Financial debts | 170/4 | €695,000 | €620,933 | -€74,067 | -10.7% |
| Trade debts | 175 | €0 | €0 | = | |
| Advances received on contracts in progress | 176 | €0 | €0 | = | |
| Other amounts payable | 178/9 | €0 | €0 | = | |
| Amounts payable within one year | 42/48 | €1,141,875 | €1,264,882 | +€123,007 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €73,743 | €73,879 | +€136 | +0.2% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Other loans | 439 | €0 | €0 | = | |
| Trade debts | 44 | €393,906 | €450,243 | +€56,337 | +14.3% |
| Suppliers | 440/4 | €393,906 | €450,243 | +€56,337 | +14.3% |
| Bills of exchange payable | 441 | €0 | €0 | = | |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €663,874 | €720,713 | +€56,839 | +8.6% |
| Taxes | 450/3 | €94,792 | €94,354 | -€438 | -0.5% |
| Remuneration and social security | 454/9 | €569,082 | €626,359 | +€57,277 | +10.1% |
| Accrued charges and deferred income | 492/3 | €64,281 | €133,204 | +€68,923 | +107.2% |
| Turnover | 70 | €2,286,715 | €2,446,384 | +€159,669 | +7.0% |
| Non-recurring operating income | 76A | €3,368 | €14,302 | +€10,934 | +324.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €820,944 | €911,535 | +€90,591 | +11.0% |
| Remuneration, social security and pensions | 62 | €3,515,078 | €3,815,811 | +€300,733 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,569 | €111,666 | +€5,097 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,382 | €10,326 | +€2,944 | +39.9% |
| Other operating charges | 640/8 | €176,520 | €124,881 | -€51,639 | -29.3% |
| Non-recurring operating charges | 66A | €39,742 | €31,961 | -€7,781 | -19.6% |
| Gross operating margin | 9900 | €3,981,960 | €4,360,295 | +€378,335 | +9.5% |
| Operating profit (loss) | 9901 | €136,669 | €271,847 | +€135,178 | +98.9% |
| Financial income | 75/76B | €35,378 | €36,631 | +€1,253 | +3.5% |
| Recurring financial income | 75 | €35,378 | €36,631 | +€1,253 | +3.5% |
| Non-recurring financial income | 76B | €0 | €0 | = | |
| Financial charges | 65/66B | €13,973 | €14,824 | +€851 | +6.1% |
| Recurring financial charges | 65 | €13,973 | €14,824 | +€851 | +6.1% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €158,074 | €293,654 | +€135,580 | +85.8% |
| Transfer from deferred taxes | 780 | - | €0 | = | |
| Transfer to deferred taxes | 680 | - | €0 | = | |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €158,074 | €293,654 | +€135,580 | +85.8% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €158,074 | €293,654 | +€135,580 | +85.8% |
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 3 October 2026 via checked.be.