Walevian: what changed
What changed
Walevian
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€173,860
2024 · €125,246+€48,614
Equity
€447,945
2024 · €401,168+€46,777
Cash
€152,833
2024 · €216,417-€63,585
Balance sheet total
€827,264
2024 · €520,124+€307,140
Largest movements
Assets
- Tangible fixed assets +€277,354
up €277,354 (+619%), from €44,840 to €322,195
of which Land and buildings: +€280,000
- Current investments +€115,513
up €115,513 (+62.9%), from €183,558 to €299,071
- Cash -€63,585
down €63,585 (-29.4%), from €216,417 to €152,833
mainly Investment in fixed assets (net) (-€246,273) and Contributions, distributions and other (-€127,083)
- Financial fixed assets -€35,000
no longer reported in 2025 (was €35,000)
- Receivables after one year +€10,500
new in 2025: €10,500
Equity and liabilities
- Debts after one year +€220,276
new in 2025: €220,276
- Other debts +€90,113
new in 2025: €90,113
- Tax, wage and social debts -€57,595
down €57,595 (-56.7%), from €101,515 to €43,920
of which Taxes: -€54,900
- Reserves +€46,777
up €46,777 (+11.7%), from €399,668 to €446,445
- Current portion of long-term debt +€22,388
new in 2025: €22,388
Income statement
- Gross operating margin +€103,560
up €103,560 (+61.2%), from €169,275 to €272,835
- Other operating charges +€34,221
up €34,221 (+6,238%), from €549 to €34,769
- Taxes +€19,031
up €19,031 (+50.9%), from €37,402 to €56,433
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€125,246
Gross operating margin
+€103,560
Depreciation
-€573
Other operating charges
-€34,221
Other operating items
+€255
Financial income
+€333
Financial charges
-€1,710
Taxes
-€19,031
Result 2025
€173,860
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€182,620
Investment
-€361,786
Financing
+€115,582
Cash 2024
€216,417
From operations (derived)
+€182,620
Net result for the year
+€173,860
Depreciation
+€3,918
Receivables after one year
-€10,500
Receivables within one year
-€2,929
Deferred charges and accrued income
+€572
Trade debts
+€1,295
Tax, wage and social debts
-€57,595
Advances received
-€16,115
Other debts
+€90,113
Investment (derived)
-€361,786
Investment in fixed assets (net)
-€246,273
Current investments
-€115,513
Financing
+€115,582
Debts after one year
+€220,276
Current portion of long-term debt
+€22,388
Contributions, distributions and other
-€127,083
Cash 2025
€152,833
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €520,124 | €827,264 | +€307,140 | +59.1% |
| Fixed assets | 21/28 | €79,840 | €322,195 | +€242,354 | +304% |
| Tangible fixed assets | 22/27 | €44,840 | €322,195 | +€277,354 | +619% |
| Land and buildings | 22 | - | €280,000 | +€280,000 | |
| Plant, machinery and equipment | 23 | €1,858 | €872 | -€986 | -53.1% |
| Furniture and vehicles | 24 | €6,572 | €4,912 | -€1,660 | -25.3% |
| Other tangible fixed assets | 26 | €36,411 | €36,411 | = | 0.0% |
| Financial fixed assets | 28 | €35,000 | - | -€35,000 | |
| Current assets | 29/58 | €440,283 | €505,069 | +€64,786 | +14.7% |
| Amounts receivable after more than one year | 29 | - | €10,500 | +€10,500 | |
| Other amounts receivable | 291 | - | €10,500 | +€10,500 | |
| Amounts receivable within one year | 40/41 | €39,274 | €42,203 | +€2,929 | +7.5% |
| Trade receivables | 40 | €14,711 | €3,083 | -€11,627 | -79.0% |
| Other amounts receivable | 41 | €24,563 | €39,120 | +€14,557 | +59.3% |
| Current investments | 50/53 | €183,558 | €299,071 | +€115,513 | +62.9% |
| Cash at bank and in hand | 54/58 | €216,417 | €152,833 | -€63,585 | -29.4% |
| Deferred charges and accrued income | 490/1 | €1,034 | €462 | -€572 | -55.3% |
| Total equity and liabilities | 10/49 | €520,124 | €827,264 | +€307,140 | +59.1% |
| Equity | 10/15 | €401,168 | €447,945 | +€46,777 | +11.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €399,668 | €446,445 | +€46,777 | +11.7% |
| Distributable reserves | 133 | €399,668 | €446,445 | +€46,777 | +11.7% |
| Amounts payable | 17/49 | €118,956 | €379,319 | +€260,363 | +219% |
| Amounts payable after more than one year | 17 | - | €220,276 | +€220,276 | |
| Financial debts | 170/4 | - | €220,276 | +€220,276 | |
| Amounts payable within one year | 42/48 | €118,956 | €159,043 | +€40,087 | +33.7% |
| Current portion of amounts payable after more than one year | 42 | - | €22,388 | +€22,388 | |
| Trade debts | 44 | €1,326 | €2,622 | +€1,295 | +97.7% |
| Suppliers | 440/4 | €1,326 | €2,622 | +€1,295 | +97.7% |
| Advances received on contracts in progress | 46 | €16,115 | - | -€16,115 | |
| Taxes, remuneration and social security | 45 | €101,515 | €43,920 | -€57,595 | -56.7% |
| Taxes | 450/3 | €98,820 | €43,920 | -€54,900 | -55.6% |
| Remuneration and social security | 454/9 | €2,695 | - | -€2,695 | |
| Other amounts payable | 47/48 | - | €90,113 | +€90,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,346 | €3,918 | +€573 | +17.1% |
| Other operating charges | 640/8 | €549 | €34,769 | +€34,221 | +6,238% |
| Non-recurring operating charges | 66A | €255 | - | -€255 | |
| Gross operating margin | 9900 | €169,275 | €272,835 | +€103,560 | +61.2% |
| Operating profit (loss) | 9901 | €165,125 | €234,147 | +€69,022 | +41.8% |
| Financial income | 75/76B | €2,157 | €2,489 | +€333 | +15.4% |
| Recurring financial income | 75 | €2,157 | €2,489 | +€333 | +15.4% |
| Financial charges | 65/66B | €4,634 | €6,344 | +€1,710 | +36.9% |
| Recurring financial charges | 65 | €4,634 | €6,344 | +€1,710 | +36.9% |
| Profit (loss) for the period before taxes | 9903 | €162,648 | €230,293 | +€67,645 | +41.6% |
| Income taxes | 67/77 | €37,402 | €56,433 | +€19,031 | +50.9% |
| Profit (loss) for the period | 9904 | €125,246 | €173,860 | +€48,614 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €125,246 | €173,860 | +€48,614 | +38.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.