WALDO MUNTERS: 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.
WALDO MUNTERS
Largest movements
- Tangible fixed assets -€109,030
down €109,030 (-5.9%), from €1.9m to €1.7m
of which Land and buildings: -€107,875
- Cash +€87,733
up €87,733 (+82.5%), from €106,393 to €194,126
mainly Depreciation (+€109,030) and Net result for the year (+€35,279)
- Debts after one year -€74,769
down €74,769 (-6.5%), from €1.1m to €1.1m
- Profit (loss) carried forward +€35,279
up €35,279 (+16.9%), from -€209,130 to -€173,851
- Gross operating margin +€14,372
up €14,372 (+7.9%), from €181,451 to €195,823
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 | €1,983,804 | €1,963,435 | -€20,369 | -1.0% |
| Fixed assets | 21/28 | €1,855,632 | €1,746,601 | -€109,030 | -5.9% |
| Tangible fixed assets | 22/27 | €1,855,632 | €1,746,601 | -€109,030 | -5.9% |
| Land and buildings | 22 | €1,853,331 | €1,745,456 | -€107,875 | -5.8% |
| Furniture and vehicles | 24 | €2,301 | €1,146 | -€1,155 | -50.2% |
| Current assets | 29/58 | €128,173 | €216,834 | +€88,661 | +69.2% |
| Amounts receivable within one year | 40/41 | €15,962 | €16,936 | +€975 | +6.1% |
| Trade receivables | 40 | €15,962 | €16,936 | +€975 | +6.1% |
| Cash at bank and in hand | 54/58 | €106,393 | €194,126 | +€87,733 | +82.5% |
| Deferred charges and accrued income | 490/1 | €5,818 | €5,771 | -€46 | -0.8% |
| Total equity and liabilities | 10/49 | €1,983,804 | €1,963,435 | -€20,369 | -1.0% |
| Equity | 10/15 | -€179,130 | -€143,851 | +€35,279 | +19.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,130 | -€173,851 | +€35,279 | +16.9% |
| Amounts payable | 17/49 | €2,162,934 | €2,107,286 | -€55,648 | -2.6% |
| Amounts payable after more than one year | 17 | €1,146,273 | €1,071,504 | -€74,769 | -6.5% |
| Financial debts | 170/4 | €1,146,273 | €1,071,504 | -€74,769 | -6.5% |
| Amounts payable within one year | 42/48 | €999,415 | €1,017,900 | +€18,485 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €73,220 | €74,769 | +€1,549 | +2.1% |
| Trade debts | 44 | €7,894 | €6,630 | -€1,264 | -16.0% |
| Suppliers | 440/4 | €7,894 | €6,630 | -€1,264 | -16.0% |
| Taxes, remuneration and social security | 45 | €9,867 | €11,585 | +€1,719 | +17.4% |
| Taxes | 450/3 | €9,867 | €11,585 | +€1,719 | +17.4% |
| Other amounts payable | 47/48 | €908,434 | €924,915 | +€16,481 | +1.8% |
| Accrued charges and deferred income | 492/3 | €17,246 | €17,883 | +€637 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,554 | €109,030 | +€477 | +0.4% |
| Other operating charges | 640/8 | €26,281 | €27,106 | +€825 | +3.1% |
| Gross operating margin | 9900 | €181,451 | €195,823 | +€14,372 | +7.9% |
| Operating profit (loss) | 9901 | €46,616 | €59,686 | +€13,070 | +28.0% |
| Financial income | 75/76B | €105 | €522 | +€417 | +399.0% |
| Recurring financial income | 75 | €105 | €522 | +€417 | +399.0% |
| Financial charges | 65/66B | €26,485 | €24,929 | -€1,555 | -5.9% |
| Recurring financial charges | 65 | €26,485 | €24,929 | -€1,555 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €20,236 | €35,279 | +€15,043 | +74.3% |
| Profit (loss) for the period | 9904 | €20,236 | €35,279 | +€15,043 | +74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,236 | €35,279 | +€15,043 | +74.3% |
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 6 October 2026 via checked.be.