WALDER DEVELOPMENT: 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.
WALDER DEVELOPMENT
Largest movements
- Receivables within one year +€538,215
up €538,215 (+31.9%), from €1.7m to €2.2m
of which Other amounts receivable: +€431,146
- Financial fixed assets +€60,003
up €60,003 (+18.7%), from €320,898 to €380,901
- Tangible fixed assets +€33,986
up €33,986 (+215.5%), from €15,773 to €49,759
of which Furniture and vehicles: +€34,240
- Other debts +€907,018
up €907,018 (+105.9%), from €856,570 to €1.8m
- Trade debts -€169,061
down €169,061 (-47.1%), from €359,109 to €190,048
- Profit (loss) carried forward -€65,508
down €65,508 (-7.0%), from -€933,875 to -€999,383
- Financial charges -€1.5m
down €1.5m (-99.2%), from €1.5m to €12,204
of which Financial charges: -€1.1m
- Gross operating margin +€447,848
up €447,848, from -€306,561 to €141,287
- Staff costs +€35,039
up €35,039 (+25.2%), from €139,184 to €174,222
- Other operating charges -€29,178
down €29,178 (-90.0%), from €32,431 to €3,253
- Taxes +€8,447
up €8,447 (+2200.9%), from €384 to €8,831
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 | €2,102,182 | €2,750,416 | +€648,234 | +30.8% |
| Fixed assets | 21/28 | €346,942 | €438,875 | +€91,933 | +26.5% |
| Intangible fixed assets | 21 | €10,271 | €8,215 | -€2,055 | -20.0% |
| Tangible fixed assets | 22/27 | €15,773 | €49,759 | +€33,986 | +215.5% |
| Plant, machinery and equipment | 23 | €1,264 | €1,009 | -€255 | -20.2% |
| Furniture and vehicles | 24 | €14,509 | €48,750 | +€34,240 | +236.0% |
| Financial fixed assets | 28 | €320,898 | €380,901 | +€60,003 | +18.7% |
| Current assets | 29/58 | €1,755,240 | €2,311,540 | +€556,301 | +31.7% |
| Amounts receivable within one year | 40/41 | €1,685,807 | €2,224,022 | +€538,215 | +31.9% |
| Trade receivables | 40 | €495,276 | €602,345 | +€107,069 | +21.6% |
| Other amounts receivable | 41 | €1,190,532 | €1,621,678 | +€431,146 | +36.2% |
| Cash at bank and in hand | 54/58 | €50,198 | €73,726 | +€23,528 | +46.9% |
| Deferred charges and accrued income | 490/1 | €19,235 | €13,792 | -€5,443 | -28.3% |
| Total equity and liabilities | 10/49 | €2,102,182 | €2,750,416 | +€648,234 | +30.8% |
| Equity | 10/15 | €834,717 | €769,209 | -€65,508 | -7.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,750,000 | €1,750,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,750,000 | €1,750,000 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€933,875 | -€999,383 | -€65,508 | -7.0% |
| Amounts payable | 17/49 | €1,267,464 | €1,981,206 | +€713,742 | +56.3% |
| Amounts payable within one year | 42/48 | €1,267,464 | €1,981,206 | +€713,742 | +56.3% |
| Trade debts | 44 | €359,109 | €190,048 | -€169,061 | -47.1% |
| Suppliers | 440/4 | €359,109 | €190,048 | -€169,061 | -47.1% |
| Advances received on contracts in progress | 46 | €5,611 | €0 | -€5,611 | -100.0% |
| Taxes, remuneration and social security | 45 | €46,174 | €27,571 | -€18,604 | -40.3% |
| Taxes | 450/3 | €29,183 | €600 | -€28,583 | -97.9% |
| Remuneration and social security | 454/9 | €16,992 | €26,971 | +€9,980 | +58.7% |
| Other amounts payable | 47/48 | €856,570 | €1,763,587 | +€907,018 | +105.9% |
| Non-recurring operating income | 76A | €15,455 | €61,300 | +€45,845 | +296.6% |
| Remuneration, social security and pensions | 62 | €139,184 | €174,222 | +€35,039 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,673 | €8,402 | +€3,729 | +79.8% |
| Other operating charges | 640/8 | €32,431 | €3,253 | -€29,178 | -90.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€306,561 | €141,287 | +€447,848 | |
| Operating profit (loss) | 9901 | -€482,849 | -€44,590 | +€438,259 | +90.8% |
| Financial income | 75/76B | €277 | €117 | -€159 | -57.6% |
| Recurring financial income | 75 | €277 | €117 | -€159 | -57.6% |
| Financial charges | 65/66B | €1,490,407 | €12,204 | -€1.5m | -99.2% |
| Recurring financial charges | 65 | €1,070,079 | €12,204 | -€1.1m | -98.9% |
| Non-recurring financial charges | 66B | €420,328 | €0 | -€420,328 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,972,980 | -€56,677 | +€1.9m | +97.1% |
| Income taxes | 67/77 | €384 | €8,831 | +€8,447 | +2200.9% |
| Profit (loss) for the period | 9904 | -€1,973,364 | -€65,508 | +€1.9m | +96.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,973,364 | -€65,508 | +€1.9m | +96.7% |
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.