WALEM’S VALUES: 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.
WALEM’S VALUES
Largest movements
- Tangible fixed assets +€416,610
new in 2025: €416,610
- Cash +€4,826
up €4,826 (+28.3%), from €17,078 to €21,904
mainly Debts after one year (+€355,998) and Net result for the year (+€36,699)
- Debts after one year +€355,998
new in 2025: €355,998
- Profit (loss) carried forward +€24,899
up €24,899, from -€24,886 to €13
- Current portion of long-term debt +€18,921
new in 2025: €18,921
- Tax, wage and social debts +€10,207
up €10,207 (+166.6%), from €6,125 to €16,333
of which Taxes: +€9,307
- Other debts +€5,634
up €5,634 (+14.6%), from €38,488 to €44,122
- Gross operating margin +€53,542
up €53,542 (+314.7%), from €17,012 to €70,554
- Depreciation +€16,062
new in 2025: €16,062
- Taxes +€10,111
up €10,111 (+3041.1%), from €332 to €10,443
- Financial charges +€6,118
up €6,118 (+4532.8%), from €135 to €6,253
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 | €38,170 | €456,745 | +€418,575 | +1096.6% |
| Fixed assets | 21/28 | - | €416,610 | +€416,610 | |
| Tangible fixed assets | 22/27 | - | €416,610 | +€416,610 | |
| Land and buildings | 22 | - | €416,610 | +€416,610 | |
| Current assets | 29/58 | €38,170 | €40,135 | +€1,965 | +5.1% |
| Amounts receivable within one year | 40/41 | €21,009 | €17,358 | -€3,651 | -17.4% |
| Trade receivables | 40 | €21,009 | €17,358 | -€3,651 | -17.4% |
| Cash at bank and in hand | 54/58 | €17,078 | €21,904 | +€4,826 | +28.3% |
| Deferred charges and accrued income | 490/1 | €83 | €872 | +€789 | +955.0% |
| Total equity and liabilities | 10/49 | €38,170 | €456,745 | +€418,575 | +1096.6% |
| Equity | 10/15 | -€9,486 | €15,413 | +€24,899 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,886 | €13 | +€24,899 | |
| Amounts payable | 17/49 | €47,656 | €441,332 | +€393,676 | +826.1% |
| Amounts payable after more than one year | 17 | - | €355,998 | +€355,998 | |
| Financial debts | 170/4 | - | €355,998 | +€355,998 | |
| Amounts payable within one year | 42/48 | €47,269 | €85,335 | +€38,066 | +80.5% |
| Current portion of amounts payable after more than one year | 42 | - | €18,921 | +€18,921 | |
| Financial debts | 43 | - | €1,152 | +€1,152 | |
| Other loans | 439 | - | €1,152 | +€1,152 | |
| Trade debts | 44 | €2,655 | €4,807 | +€2,152 | +81.0% |
| Suppliers | 440/4 | €2,655 | €4,807 | +€2,152 | +81.0% |
| Taxes, remuneration and social security | 45 | €6,125 | €16,333 | +€10,207 | +166.6% |
| Taxes | 450/3 | €5,025 | €14,333 | +€9,307 | +185.2% |
| Remuneration and social security | 454/9 | €1,100 | €2,000 | +€900 | +81.8% |
| Other amounts payable | 47/48 | €38,488 | €44,122 | +€5,634 | +14.6% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €16,062 | +€16,062 | |
| Other operating charges | 640/8 | €1,167 | €1,097 | -€69 | -5.9% |
| Gross operating margin | 9900 | €17,012 | €70,554 | +€53,542 | +314.7% |
| Operating profit (loss) | 9901 | €15,846 | €53,395 | +€37,549 | +237.0% |
| Financial income | 75/76B | €1 | €0 | -€0 | -6.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -6.0% |
| Financial charges | 65/66B | €135 | €6,253 | +€6,118 | +4532.8% |
| Recurring financial charges | 65 | €135 | €6,253 | +€6,118 | +4532.8% |
| Profit (loss) for the period before taxes | 9903 | €15,711 | €47,142 | +€31,431 | +200.1% |
| Income taxes | 67/77 | €332 | €10,443 | +€10,111 | +3041.1% |
| Profit (loss) for the period | 9904 | €15,379 | €36,699 | +€21,320 | +138.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,379 | €36,699 | +€21,320 | +138.6% |
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.