WALIE: 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.
WALIE
Largest movements
- Receivables within one year +€93,565
up €93,565 (+62.2%), from €150,335 to €243,899
of which Other amounts receivable: +€58,230
- Tangible fixed assets -€48,416
down €48,416 (-12.2%), from €398,216 to €349,800
of which Other tangible fixed assets: -€49,925
- Stocks and contracts -€35,160
down €35,160 (-14.7%), from €239,028 to €203,868
- Cash +€22,967
up €22,967 (+114%), from €20,139 to €43,106
mainly Depreciation (+€80,056) and Trade debts (+€68,271)
- Trade debts +€68,271
up €68,271 (+21.9%), from €311,629 to €379,900
- Debts after one year -€42,715
down €42,715 (-11.7%), from €364,048 to €321,333
of which Financial debts: -€52,811
- Current portion of long-term debt +€9,262
up €9,262 (+12.7%), from €72,972 to €82,234
- Staff costs -€22,263
down €22,263 (-8.7%), from €255,054 to €232,790
- Gross operating margin +€10,928
up €10,928 (+3.4%), from €325,374 to €336,302
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 | €841,419 | €870,953 | +€29,534 | +3.5% |
| Formation expenses | 20 | €4,859 | €3,346 | -€1,513 | -31.1% |
| Fixed assets | 21/28 | €398,846 | €350,430 | -€48,416 | -12.1% |
| Tangible fixed assets | 22/27 | €398,216 | €349,800 | -€48,416 | -12.2% |
| Plant, machinery and equipment | 23 | €72,707 | €74,215 | +€1,509 | +2.1% |
| Other tangible fixed assets | 26 | €325,509 | €275,585 | -€49,925 | -15.3% |
| Financial fixed assets | 28 | €630 | €630 | = | 0.0% |
| Current assets | 29/58 | €437,714 | €517,177 | +€79,463 | +18.2% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €239,028 | €203,868 | -€35,160 | -14.7% |
| Stocks | 30/36 | €239,028 | €203,868 | -€35,160 | -14.7% |
| Amounts receivable within one year | 40/41 | €150,335 | €243,899 | +€93,565 | +62.2% |
| Trade receivables | 40 | €47,938 | €83,272 | +€35,334 | +73.7% |
| Other amounts receivable | 41 | €102,397 | €160,627 | +€58,230 | +56.9% |
| Cash at bank and in hand | 54/58 | €20,139 | €43,106 | +€22,967 | +114% |
| Deferred charges and accrued income | 490/1 | €8,213 | €6,304 | -€1,909 | -23.2% |
| Total equity and liabilities | 10/49 | €841,419 | €870,953 | +€29,534 | +3.5% |
| Equity | 10/15 | €41,258 | €41,868 | +€610 | +1.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €62,642 | €62,642 | = | 0.0% |
| Distributable reserves | 133 | €62,642 | €62,642 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,384 | -€45,774 | +€610 | +1.3% |
| Amounts payable | 17/49 | €800,161 | €829,085 | +€28,924 | +3.6% |
| Amounts payable after more than one year | 17 | €364,048 | €321,333 | -€42,715 | -11.7% |
| Financial debts | 170/4 | €364,048 | €311,237 | -€52,811 | -14.5% |
| Trade debts | 175 | - | €10,096 | +€10,096 | |
| Amounts payable within one year | 42/48 | €429,529 | €507,752 | +€78,222 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €72,972 | €82,234 | +€9,262 | +12.7% |
| Trade debts | 44 | €311,629 | €379,900 | +€68,271 | +21.9% |
| Suppliers | 440/4 | €311,629 | €379,900 | +€68,271 | +21.9% |
| Taxes, remuneration and social security | 45 | €44,818 | €45,618 | +€799 | +1.8% |
| Taxes | 450/3 | €511 | €1,432 | +€921 | +180% |
| Remuneration and social security | 454/9 | €44,308 | €44,186 | -€122 | -0.3% |
| Other amounts payable | 47/48 | €110 | €0 | -€110 | -100% |
| Accrued charges and deferred income | 492/3 | €6,583 | €0 | -€6,583 | -100% |
| Remuneration, social security and pensions | 62 | €255,054 | €232,790 | -€22,263 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,120 | €80,056 | +€1,937 | +2.5% |
| Other operating charges | 640/8 | €4,397 | €2,330 | -€2,067 | -47.0% |
| Gross operating margin | 9900 | €325,374 | €336,302 | +€10,928 | +3.4% |
| Operating profit (loss) | 9901 | -€12,197 | €21,125 | +€33,322 | |
| Financial income | 75/76B | €264 | €1,857 | +€1,593 | +604% |
| Recurring financial income | 75 | €264 | €1,857 | +€1,593 | +604% |
| Financial charges | 65/66B | €24,870 | €22,118 | -€2,752 | -11.1% |
| Recurring financial charges | 65 | €24,870 | €22,118 | -€2,752 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,803 | €864 | +€37,667 | |
| Income taxes | 67/77 | €262 | €254 | -€8 | -3.1% |
| Profit (loss) for the period | 9904 | -€37,065 | €610 | +€37,675 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,065 | €610 | +€37,675 |
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 20 October 2026 via checked.be.