WALDHAUS: 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.
WALDHAUS
Largest movements
- Receivables within one year +€2,456
up €2,456 (+230.9%), from €1,064 to €3,519
of which Trade receivables: +€1,378
- Tangible fixed assets +€2,324
new in 2025: €2,324
- Deferred charges and accrued income +€620
up €620, from €0 to €620
- Financial fixed assets +€525
new in 2025: €525
- Cash -€148
down €148 (-26.3%), from €564 to €416
mainly Net result for the year (-€5,197) and Investment in fixed assets (net) (-€2,972)
- Other debts +€9,659
up €9,659 (+73.8%), from €13,095 to €22,754
- Profit (loss) carried forward -€5,197
down €5,197 (-25.4%), from -€20,443 to -€25,640
- Trade debts +€1,313
up €1,313 (+143.5%), from €915 to €2,229
- Gross operating margin -€1,824
down €1,824 (-57.6%), from -€3,165 to -€4,989
- Depreciation +€123
new in 2025: €123
- Other operating charges -€118
down €118 (-100.0%), from €118 to €0
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 | €1,628 | €7,403 | +€5,776 | +354.9% |
| Fixed assets | 21/28 | - | €2,848 | +€2,848 | |
| Tangible fixed assets | 22/27 | - | €2,324 | +€2,324 | |
| Other tangible fixed assets | 26 | - | €2,324 | +€2,324 | |
| Financial fixed assets | 28 | - | €525 | +€525 | |
| Current assets | 29/58 | €1,628 | €4,555 | +€2,927 | +179.9% |
| Amounts receivable within one year | 40/41 | €1,064 | €3,519 | +€2,456 | +230.9% |
| Trade receivables | 40 | €0 | €1,378 | +€1,378 | |
| Other amounts receivable | 41 | €1,064 | €2,141 | +€1,078 | +101.3% |
| Cash at bank and in hand | 54/58 | €564 | €416 | -€148 | -26.3% |
| Deferred charges and accrued income | 490/1 | €0 | €620 | +€620 | |
| Total equity and liabilities | 10/49 | €1,628 | €7,403 | +€5,776 | +354.9% |
| Equity | 10/15 | -€12,383 | -€17,580 | -€5,197 | -42.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,443 | -€25,640 | -€5,197 | -25.4% |
| Amounts payable | 17/49 | €14,010 | €24,983 | +€10,973 | +78.3% |
| Amounts payable within one year | 42/48 | €14,010 | €24,983 | +€10,973 | +78.3% |
| Trade debts | 44 | €915 | €2,229 | +€1,313 | +143.5% |
| Suppliers | 440/4 | €915 | €2,229 | +€1,313 | +143.5% |
| Other amounts payable | 47/48 | €13,095 | €22,754 | +€9,659 | +73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €123 | +€123 | |
| Other operating charges | 640/8 | €118 | €0 | -€118 | -100.0% |
| Gross operating margin | 9900 | -€3,165 | -€4,989 | -€1,824 | -57.6% |
| Operating profit (loss) | 9901 | -€3,283 | -€5,113 | -€1,829 | -55.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -25.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -25.0% |
| Financial charges | 65/66B | €113 | €85 | -€28 | -24.9% |
| Recurring financial charges | 65 | €113 | €85 | -€28 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,396 | -€5,197 | -€1,801 | -53.0% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -50.0% |
| Profit (loss) for the period | 9904 | -€3,396 | -€5,197 | -€1,801 | -53.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,396 | -€5,197 | -€1,801 | -53.0% |
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.