WALEM-LAURENT: 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.
WALEM-LAURENT
Largest movements
- Receivables within one year -€10,499
down €10,499 (-17.4%), from €60,232 to €49,732
of which Trade receivables: -€8,414
- Stocks and contracts -€6,066
down €6,066 (-71.9%), from €8,432 to €2,366
- Cash -€3,420
down €3,420 (-3.0%), from €113,659 to €110,239
mainly Accrued charges and deferred income (-€9,315) and Tax, wage and social debts (-€7,406)
- Accrued charges and deferred income -€9,315
no longer reported in 2025 (was €9,315)
- Tax, wage and social debts -€7,406
down €7,406 (-37.4%), from €19,805 to €12,399
of which Remuneration and social security: -€6,878
- Trade debts -€6,179
down €6,179 (-29.9%), from €20,690 to €14,511
- Profit (loss) carried forward +€2,621
up €2,621 (+4.7%), from €55,251 to €57,872
- Staff costs -€16,262
down €16,262 (-21.1%), from €76,926 to €60,663
- Gross operating margin -€6,662
down €6,662 (-8.3%), from €80,314 to €73,652
- Other operating charges +€3,853
up €3,853 (+101%), from €3,827 to €7,679
- Write-downs -€2,759
no longer reported in 2025 (was €2,759)
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 | €186,809 | €165,883 | -€20,926 | -11.2% |
| Fixed assets | 21/28 | €4,196 | €3,235 | -€960 | -22.9% |
| Tangible fixed assets | 22/27 | €4,196 | €3,235 | -€960 | -22.9% |
| Land and buildings | 22 | €2,500 | €2,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,696 | €735 | -€960 | -56.6% |
| Current assets | 29/58 | €182,614 | €162,648 | -€19,966 | -10.9% |
| Stocks and contracts in progress | 3 | €8,432 | €2,366 | -€6,066 | -71.9% |
| Stocks | 30/36 | €8,432 | €2,366 | -€6,066 | -71.9% |
| Amounts receivable within one year | 40/41 | €60,232 | €49,732 | -€10,499 | -17.4% |
| Trade receivables | 40 | €53,698 | €45,283 | -€8,414 | -15.7% |
| Other amounts receivable | 41 | €6,534 | €4,449 | -€2,085 | -31.9% |
| Cash at bank and in hand | 54/58 | €113,659 | €110,239 | -€3,420 | -3.0% |
| Deferred charges and accrued income | 490/1 | €291 | €311 | +€19 | +6.6% |
| Total equity and liabilities | 10/49 | €186,809 | €165,883 | -€20,926 | -11.2% |
| Equity | 10/15 | €132,551 | €135,172 | +€2,621 | +2.0% |
| Contributions | 10/11 | €43,000 | €43,000 | = | 0.0% |
| Reserves | 13 | €34,300 | €34,300 | = | 0.0% |
| Distributable reserves | 133 | €34,300 | €34,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,251 | €57,872 | +€2,621 | +4.7% |
| Amounts payable | 17/49 | €54,258 | €30,711 | -€23,547 | -43.4% |
| Amounts payable within one year | 42/48 | €44,943 | €30,711 | -€14,232 | -31.7% |
| Trade debts | 44 | €20,690 | €14,511 | -€6,179 | -29.9% |
| Suppliers | 440/4 | €20,690 | €14,511 | -€6,179 | -29.9% |
| Advances received on contracts in progress | 46 | €3,420 | €2,332 | -€1,088 | -31.8% |
| Taxes, remuneration and social security | 45 | €19,805 | €12,399 | -€7,406 | -37.4% |
| Taxes | 450/3 | €7,100 | €6,572 | -€528 | -7.4% |
| Remuneration and social security | 454/9 | €12,705 | €5,826 | -€6,878 | -54.1% |
| Other amounts payable | 47/48 | €1,028 | €1,469 | +€441 | +42.9% |
| Accrued charges and deferred income | 492/3 | €9,315 | - | -€9,315 | |
| Remuneration, social security and pensions | 62 | €76,926 | €60,663 | -€16,262 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,097 | €960 | -€136 | -12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,759 | - | -€2,759 | |
| Other operating charges | 640/8 | €3,827 | €7,679 | +€3,853 | +101% |
| Gross operating margin | 9900 | €80,314 | €73,652 | -€6,662 | -8.3% |
| Operating profit (loss) | 9901 | -€4,294 | €4,349 | +€8,643 | |
| Financial income | 75/76B | €26 | €58 | +€31 | +118% |
| Recurring financial income | 75 | €26 | €58 | +€31 | +118% |
| Financial charges | 65/66B | €1,611 | €1,621 | +€11 | +0.7% |
| Recurring financial charges | 65 | €1,611 | €1,621 | +€11 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,878 | €2,785 | +€8,663 | |
| Income taxes | 67/77 | €160 | €164 | +€4 | +2.6% |
| Profit (loss) for the period | 9904 | -€6,039 | €2,621 | +€8,659 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,039 | €2,621 | +€8,659 |
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 25 October 2026 via checked.be.