WALHITEC: 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.
WALHITEC
Largest movements
- Receivables within one year +€117,791
up €117,791 (+305.5%), from €38,562 to €156,353
of which Trade receivables: +€105,339
- Cash -€90,819
down €90,819 (-46.4%), from €195,828 to €105,009
mainly Receivables within one year (-€117,791) and Debts after one year (-€28,887)
- Tangible fixed assets -€10,730
down €10,730 (-2.8%), from €383,714 to €372,984
of which Land and buildings: -€5,629
- Other debts +€32,160
up €32,160 (+23.8%), from €135,039 to €167,199
- Debts after one year -€28,887
down €28,887 (-17.7%), from €162,996 to €134,109
- Tax, wage and social debts +€10,245
up €10,245 (+117.4%), from €8,729 to €18,974
of which Remuneration and social security: +€8,434
- Gross operating margin -€20,025
down €20,025 (-21.3%), from €94,151 to €74,126
- Depreciation +€9,735
up €9,735 (+34.6%), from €28,169 to €37,904
- Financial charges -€9,474
down €9,474 (-65.0%), from €14,566 to €5,092
- Taxes -€8,515
down €8,515 (-53.1%), from €16,030 to €7,514
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 | €691,335 | €706,746 | +€15,411 | +2.2% |
| Fixed assets | 21/28 | €456,114 | €445,384 | -€10,730 | -2.4% |
| Tangible fixed assets | 22/27 | €383,714 | €372,984 | -€10,730 | -2.8% |
| Land and buildings | 22 | €346,477 | €340,849 | -€5,629 | -1.6% |
| Furniture and vehicles | 24 | €37,236 | €32,135 | -€5,101 | -13.7% |
| Financial fixed assets | 28 | €72,400 | €72,400 | = | 0.0% |
| Current assets | 29/58 | €235,221 | €261,362 | +€26,141 | +11.1% |
| Amounts receivable within one year | 40/41 | €38,562 | €156,353 | +€117,791 | +305.5% |
| Trade receivables | 40 | €8,018 | €113,357 | +€105,339 | +1313.9% |
| Other amounts receivable | 41 | €30,545 | €42,996 | +€12,452 | +40.8% |
| Cash at bank and in hand | 54/58 | €195,828 | €105,009 | -€90,819 | -46.4% |
| Deferred charges and accrued income | 490/1 | €832 | - | -€832 | |
| Total equity and liabilities | 10/49 | €691,335 | €706,746 | +€15,411 | +2.2% |
| Equity | 10/15 | €342,379 | €337,346 | -€5,033 | -1.5% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €196,012 | €193,642 | -€2,370 | -1.2% |
| Distributable reserves | 133 | €196,012 | €193,642 | -€2,370 | -1.2% |
| Profit (loss) carried forward | 14 | €90,228 | €89,729 | -€500 | -0.6% |
| Investment grants | 15 | €36,639 | €34,475 | -€2,163 | -5.9% |
| Amounts payable | 17/49 | €348,956 | €369,400 | +€20,444 | +5.9% |
| Amounts payable after more than one year | 17 | €162,996 | €134,109 | -€28,887 | -17.7% |
| Financial debts | 170/4 | €162,996 | €134,109 | -€28,887 | -17.7% |
| Amounts payable within one year | 42/48 | €176,569 | €225,522 | +€48,952 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €27,609 | €28,888 | +€1,279 | +4.6% |
| Trade debts | 44 | €5,193 | €10,461 | +€5,268 | +101.4% |
| Suppliers | 440/4 | €5,193 | €10,461 | +€5,268 | +101.4% |
| Taxes, remuneration and social security | 45 | €8,729 | €18,974 | +€10,245 | +117.4% |
| Taxes | 450/3 | €6,497 | €8,308 | +€1,811 | +27.9% |
| Remuneration and social security | 454/9 | €2,232 | €10,666 | +€8,434 | +377.9% |
| Other amounts payable | 47/48 | €135,039 | €167,199 | +€32,160 | +23.8% |
| Accrued charges and deferred income | 492/3 | €9,390 | €9,769 | +€379 | +4.0% |
| Remuneration, social security and pensions | 62 | -€17 | - | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,169 | €37,904 | +€9,735 | +34.6% |
| Other operating charges | 640/8 | €2,905 | €3,166 | +€262 | +9.0% |
| Gross operating margin | 9900 | €94,151 | €74,126 | -€20,025 | -21.3% |
| Operating profit (loss) | 9901 | €63,094 | €33,055 | -€30,039 | -47.6% |
| Financial income | 75/76B | €2,163 | €2,181 | +€18 | +0.8% |
| Recurring financial income | 75 | €2,163 | €2,181 | +€18 | +0.8% |
| Financial charges | 65/66B | €14,566 | €5,092 | -€9,474 | -65.0% |
| Recurring financial charges | 65 | €14,566 | €5,092 | -€9,474 | -65.0% |
| Profit (loss) for the period before taxes | 9903 | €50,691 | €30,145 | -€20,547 | -40.5% |
| Income taxes | 67/77 | €16,030 | €7,514 | -€8,515 | -53.1% |
| Profit (loss) for the period | 9904 | €34,662 | €22,630 | -€12,031 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,662 | €22,630 | -€12,031 | -34.7% |
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 12 October 2026 via checked.be.