Walden Advisory: 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.
Walden Advisory
Largest movements
- Cash -€28,753
down €28,753 (-82.2%), from €34,986 to €6,233
mainly Net result for the year (-€17,829) and Receivables within one year (-€9,768)
- Receivables within one year +€9,768
up €9,768 (+4547.2%), from €215 to €9,983
of which Trade receivables: +€9,660
- Profit (loss) carried forward -€17,829
down €17,829 (-75.9%), from €23,475 to €5,646
- Tax, wage and social debts -€6,127
no longer reported in 2025 (was €6,127)
- Trade debts +€5,271
up €5,271 (+207.5%), from €2,540 to €7,811
- Advances received -€1,033
no longer reported in 2025 (was €1,033)
- Other debts +€734
up €734 (+71.6%), from €1,025 to €1,759
- Gross operating margin -€47,241
down €47,241, from €29,644 to -€17,598
- Taxes -€6,127
no longer reported in 2025 (was €6,127)
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 | €35,200 | €16,216 | -€18,985 | -53.9% |
| Current assets | 29/58 | €35,200 | €16,216 | -€18,985 | -53.9% |
| Amounts receivable within one year | 40/41 | €215 | €9,983 | +€9,768 | +4547.2% |
| Trade receivables | 40 | - | €9,660 | +€9,660 | |
| Other amounts receivable | 41 | €215 | €323 | +€108 | +50.2% |
| Cash at bank and in hand | 54/58 | €34,986 | €6,233 | -€28,753 | -82.2% |
| Total equity and liabilities | 10/49 | €35,200 | €16,216 | -€18,985 | -53.9% |
| Equity | 10/15 | €24,475 | €6,646 | -€17,829 | -72.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,475 | €5,646 | -€17,829 | -75.9% |
| Amounts payable | 17/49 | €10,725 | €9,570 | -€1,155 | -10.8% |
| Amounts payable within one year | 42/48 | €10,725 | €9,570 | -€1,155 | -10.8% |
| Trade debts | 44 | €2,540 | €7,811 | +€5,271 | +207.5% |
| Suppliers | 440/4 | €2,540 | €7,811 | +€5,271 | +207.5% |
| Advances received on contracts in progress | 46 | €1,033 | - | -€1,033 | |
| Taxes, remuneration and social security | 45 | €6,127 | - | -€6,127 | |
| Taxes | 450/3 | €6,127 | - | -€6,127 | |
| Other amounts payable | 47/48 | €1,025 | €1,759 | +€734 | +71.6% |
| Other operating charges | 640/8 | - | €172 | +€172 | |
| Gross operating margin | 9900 | €29,644 | -€17,598 | -€47,241 | |
| Operating profit (loss) | 9901 | €29,644 | -€17,769 | -€47,413 | |
| Financial charges | 65/66B | €41 | €60 | +€19 | +45.2% |
| Recurring financial charges | 65 | €41 | €60 | +€19 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €29,602 | -€17,829 | -€47,432 | |
| Income taxes | 67/77 | €6,127 | - | -€6,127 | |
| Profit (loss) for the period | 9904 | €23,475 | -€17,829 | -€41,305 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,475 | -€17,829 | -€41,305 |
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 4 October 2026 via checked.be.