WALDRYPROCESS: 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.
WALDRYPROCESS
Largest movements
- Receivables within one year +€104,262
up €104,262 (+231%), from €45,111 to €149,374
of which Trade receivables: +€121,372
- Tangible fixed assets -€45,482
down €45,482 (-7.8%), from €580,854 to €535,373
of which Plant, machinery and equipment: -€31,138
- Cash -€38,336
down €38,336 (-56.9%), from €67,386 to €29,050
mainly Receivables within one year (-€104,262) and Investment in fixed assets (net) (-€21,818)
- Profit (loss) carried forward +€17,797
up €17,797 (+22.7%), from -€78,312 to -€60,515
- Turnover -€176,237
down €176,237 (-34.3%), from €514,224 to €337,987
- Purchases and services -€132,419
down €132,419 (-43.7%), from €302,899 to €170,480
- Staff costs -€97,880
down €97,880 (-55.8%), from €175,560 to €77,680
- Gross operating margin -€44,419
down €44,419 (-20.9%), from €212,178 to €167,759
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.
Derived cash bridge
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 | €698,614 | €718,654 | +€20,040 | +2.9% |
| Fixed assets | 21/28 | €580,904 | €535,423 | -€45,482 | -7.8% |
| Tangible fixed assets | 22/27 | €580,854 | €535,373 | -€45,482 | -7.8% |
| Land and buildings | 22 | €252,217 | €238,043 | -€14,174 | -5.6% |
| Plant, machinery and equipment | 23 | €328,275 | €297,137 | -€31,138 | -9.5% |
| Furniture and vehicles | 24 | €363 | €193 | -€169 | -46.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €117,710 | €183,231 | +€65,522 | +55.7% |
| Stocks and contracts in progress | 3 | €61 | - | -€61 | |
| Stocks | 30/36 | €61 | - | -€61 | |
| Amounts receivable within one year | 40/41 | €45,111 | €149,374 | +€104,262 | +231% |
| Trade receivables | 40 | €26,334 | €147,706 | +€121,372 | +461% |
| Other amounts receivable | 41 | €18,777 | €1,668 | -€17,109 | -91.1% |
| Cash at bank and in hand | 54/58 | €67,386 | €29,050 | -€38,336 | -56.9% |
| Deferred charges and accrued income | 490/1 | €5,151 | €4,808 | -€343 | -6.7% |
| Total equity and liabilities | 10/49 | €698,614 | €718,654 | +€20,040 | +2.9% |
| Equity | 10/15 | €648,938 | €668,235 | +€19,297 | +3.0% |
| Contributions | 10/11 | €725,000 | €725,000 | = | 0.0% |
| Capital | 10 | €725,000 | €725,000 | = | 0.0% |
| Issued capital | 100 | €725,000 | €725,000 | = | 0.0% |
| Reserves | 13 | €2,250 | €3,750 | +€1,500 | +66.7% |
| Non-distributable reserves | 130/1 | €2,250 | €3,750 | +€1,500 | +66.7% |
| Legal reserve | 130 | €2,250 | €3,750 | +€1,500 | +66.7% |
| Profit (loss) carried forward | 14 | -€78,312 | -€60,515 | +€17,797 | +22.7% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €49,676 | €50,419 | +€743 | +1.5% |
| Amounts payable within one year | 42/48 | €49,676 | €45,383 | -€4,294 | -8.6% |
| Trade debts | 44 | €34,123 | €29,936 | -€4,187 | -12.3% |
| Suppliers | 440/4 | €34,123 | €29,936 | -€4,187 | -12.3% |
| Taxes, remuneration and social security | 45 | €15,553 | €15,446 | -€107 | -0.7% |
| Remuneration and social security | 454/9 | €15,553 | €15,446 | -€107 | -0.7% |
| Accrued charges and deferred income | 492/3 | - | €5,036 | +€5,036 | |
| Turnover | 70 | €514,224 | €337,987 | -€176,237 | -34.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €302,899 | €170,480 | -€132,419 | -43.7% |
| Remuneration, social security and pensions | 62 | €175,560 | €77,680 | -€97,880 | -55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,455 | €67,300 | -€1,155 | -1.7% |
| Other operating charges | 640/8 | €1,751 | €1,995 | +€243 | +13.9% |
| Non-recurring operating charges | 66A | - | €408 | +€408 | |
| Gross operating margin | 9900 | €212,178 | €167,759 | -€44,419 | -20.9% |
| Operating profit (loss) | 9901 | -€33,589 | €20,376 | +€53,965 | |
| Financial income | 75/76B | €239 | €250 | +€10 | +4.4% |
| Recurring financial income | 75 | €239 | €250 | +€10 | +4.4% |
| Financial charges | 65/66B | €1,317 | €1,329 | +€12 | +0.9% |
| Recurring financial charges | 65 | €1,317 | €1,329 | +€12 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€34,667 | €19,297 | +€53,964 | |
| Profit (loss) for the period | 9904 | -€34,667 | €19,297 | +€53,964 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,667 | €19,297 | +€53,964 |
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 26 October 2026 via checked.be.