WALHALLA: 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.
WALHALLA
Largest movements
- Tangible fixed assets -€22,825
down €22,825 (-20.1%), from €113,619 to €90,793
of which Land and buildings: -€17,489
- Cash -€8,039
down €8,039 (-59.6%), from €13,494 to €5,454
mainly Net result for the year (-€19,486) and Debts after one year (-€12,949)
- Profit (loss) carried forward -€19,486
down €19,486 (-56.3%), from -€34,608 to -€54,095
- Debts after one year -€12,949
down €12,949 (-25.1%), from €51,647 to €38,699
- Other debts +€3,263
up €3,263 (+8.6%), from €37,775 to €41,038
- Tax, wage and social debts -€2,130
down €2,130 (-99.8%), from €2,134 to €4
- Gross operating margin -€5,627
down €5,627 (-35.3%), from €15,931 to €10,304
- Depreciation +€820
up €820 (+3.7%), from €22,006 to €22,825
- Financial charges -€262
down €262 (-13.0%), from €2,016 to €1,755
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 | €139,947 | €108,216 | -€31,731 | -22.7% |
| Fixed assets | 21/28 | €113,619 | €90,793 | -€22,825 | -20.1% |
| Tangible fixed assets | 22/27 | €113,619 | €90,793 | -€22,825 | -20.1% |
| Land and buildings | 22 | €92,914 | €75,424 | -€17,489 | -18.8% |
| Plant, machinery and equipment | 23 | €1,802 | €1,336 | -€466 | -25.8% |
| Furniture and vehicles | 24 | €18,903 | €14,033 | -€4,870 | -25.8% |
| Current assets | 29/58 | €26,328 | €17,423 | -€8,905 | -33.8% |
| Stocks and contracts in progress | 3 | €10,445 | €10,005 | -€440 | -4.2% |
| Stocks | 30/36 | €10,445 | €10,005 | -€440 | -4.2% |
| Amounts receivable within one year | 40/41 | €608 | €323 | -€285 | -46.9% |
| Trade receivables | 40 | €514 | €220 | -€294 | -57.1% |
| Other amounts receivable | 41 | €94 | €103 | +€9 | +9.3% |
| Cash at bank and in hand | 54/58 | €13,494 | €5,454 | -€8,039 | -59.6% |
| Deferred charges and accrued income | 490/1 | €1,782 | €1,640 | -€141 | -7.9% |
| Total equity and liabilities | 10/49 | €139,947 | €108,216 | -€31,731 | -22.7% |
| Equity | 10/15 | €31,605 | €12,119 | -€19,486 | -61.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €47,663 | €47,663 | = | 0.0% |
| Distributable reserves | 133 | €47,663 | €47,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,608 | -€54,095 | -€19,486 | -56.3% |
| Amounts payable | 17/49 | €108,342 | €96,097 | -€12,245 | -11.3% |
| Amounts payable after more than one year | 17 | €51,647 | €38,699 | -€12,949 | -25.1% |
| Financial debts | 170/4 | €51,647 | €38,699 | -€12,949 | -25.1% |
| Amounts payable within one year | 42/48 | €53,874 | €54,497 | +€623 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €13,901 | €13,039 | -€862 | -6.2% |
| Trade debts | 44 | €64 | €415 | +€352 | +553% |
| Suppliers | 440/4 | €64 | €415 | +€352 | +553% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,134 | €4 | -€2,130 | -99.8% |
| Taxes | 450/3 | €2,134 | €4 | -€2,130 | -99.8% |
| Other amounts payable | 47/48 | €37,775 | €41,038 | +€3,263 | +8.6% |
| Accrued charges and deferred income | 492/3 | €2,821 | €2,902 | +€81 | +2.9% |
| Non-recurring operating income | 76A | €0 | €992 | +€992 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,006 | €22,825 | +€820 | +3.7% |
| Other operating charges | 640/8 | €5,506 | €5,465 | -€41 | -0.7% |
| Gross operating margin | 9900 | €15,931 | €10,304 | -€5,627 | -35.3% |
| Operating profit (loss) | 9901 | -€11,580 | -€17,987 | -€6,406 | -55.3% |
| Financial income | 75/76B | €342 | €255 | -€87 | -25.3% |
| Recurring financial income | 75 | €342 | €255 | -€87 | -25.3% |
| Financial charges | 65/66B | €2,016 | €1,755 | -€262 | -13.0% |
| Recurring financial charges | 65 | €2,016 | €1,755 | -€262 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,255 | -€19,486 | -€6,231 | -47.0% |
| Profit (loss) for the period | 9904 | -€13,255 | -€19,486 | -€6,231 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,255 | -€19,486 | -€6,231 | -47.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.