Walis: 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.
Walis
Largest movements
- Cash +€513,030
up €513,030 (+153.7%), from €333,850 to €846,880
mainly Net result for the year (+€476,317) and Tax, wage and social debts (+€133,062)
- Receivables after one year +€79,435
up €79,435 (+4.3%), from €1.9m to €1.9m
- Reserves +€477,036
up €477,036 (+48.4%), from €985,855 to €1.5m
of which Distributable reserves: +€477,036
- Debts after one year -€152,758
down €152,758 (-25.4%), from €601,002 to €448,243
- Tax, wage and social debts +€133,062
up €133,062 (+16.5%), from €806,864 to €939,926
of which Taxes: +€161,415
- Trade debts -€64,802
down €64,802 (-30.5%), from €212,206 to €147,403
- Advances received +€54,091
up €54,091 (+1988.7%), from €2,720 to €56,811
- Gross operating margin +€160,056
up €160,056 (+3.4%), from €4.7m to €4.9m
- Financial income +€126,073
new in 2025: €126,073
of which Financial income: +€84,780
- Staff costs +€86,830
up €86,830 (+2.1%), from €4.0m to €4.1m
- Other operating charges -€86,059
down €86,059 (-69.5%), from €123,763 to €37,704
- Taxes +€66,280
up €66,280 (+61.0%), from €108,669 to €174,949
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 | €4,113,585 | €4,635,443 | +€521,859 | +12.7% |
| Fixed assets | 21/28 | €534,595 | €492,262 | -€42,333 | -7.9% |
| Intangible fixed assets | 21 | €36,416 | €27,217 | -€9,199 | -25.3% |
| Tangible fixed assets | 22/27 | €498,180 | €465,046 | -€33,134 | -6.7% |
| Plant, machinery and equipment | 23 | €46,767 | €27,249 | -€19,518 | -41.7% |
| Furniture and vehicles | 24 | €66,330 | €59,773 | -€6,558 | -9.9% |
| Other tangible fixed assets | 26 | €385,082 | €378,024 | -€7,058 | -1.8% |
| Current assets | 29/58 | €3,578,989 | €4,143,181 | +€564,192 | +15.8% |
| Amounts receivable after more than one year | 29 | €1,868,869 | €1,948,305 | +€79,435 | +4.3% |
| Other amounts receivable | 291 | €1,868,869 | €1,948,305 | +€79,435 | +4.3% |
| Stocks and contracts in progress | 3 | €13,123 | €13,097 | -€27 | -0.2% |
| Stocks | 30/36 | €13,123 | €13,097 | -€27 | -0.2% |
| Amounts receivable within one year | 40/41 | €1,342,131 | €1,311,811 | -€30,320 | -2.3% |
| Trade receivables | 40 | €528,780 | €606,753 | +€77,973 | +14.7% |
| Other amounts receivable | 41 | €813,351 | €705,057 | -€108,293 | -13.3% |
| Cash at bank and in hand | 54/58 | €333,850 | €846,880 | +€513,030 | +153.7% |
| Deferred charges and accrued income | 490/1 | €21,015 | €23,089 | +€2,074 | +9.9% |
| Total equity and liabilities | 10/49 | €4,113,585 | €4,635,443 | +€521,859 | +12.7% |
| Equity | 10/15 | €1,592,416 | €2,069,452 | +€477,036 | +30.0% |
| Contributions | 10/11 | €606,562 | €606,562 | = | 0.0% |
| Capital | 10 | €606,562 | €606,562 | = | 0.0% |
| Issued capital | 100 | €606,562 | €606,562 | = | 0.0% |
| Reserves | 13 | €985,855 | €1,462,891 | +€477,036 | +48.4% |
| Non-distributable reserves | 130/1 | €49,990 | €49,990 | = | 0.0% |
| Legal reserve | 130 | €49,990 | €49,990 | = | 0.0% |
| Distributable reserves | 133 | €935,864 | €1,412,900 | +€477,036 | +51.0% |
| Amounts payable | 17/49 | €2,521,168 | €2,565,991 | +€44,822 | +1.8% |
| Amounts payable after more than one year | 17 | €601,002 | €448,243 | -€152,758 | -25.4% |
| Financial debts | 170/4 | €601,002 | €448,243 | -€152,758 | -25.4% |
| Amounts payable within one year | 42/48 | €1,913,644 | €2,066,439 | +€152,795 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €150,924 | €156,161 | +€5,236 | +3.5% |
| Financial debts | 43 | €587,319 | €590,439 | +€3,119 | +0.5% |
| Credit institutions | 430/8 | €587,319 | €590,439 | +€3,119 | +0.5% |
| Trade debts | 44 | €212,206 | €147,403 | -€64,802 | -30.5% |
| Suppliers | 440/4 | €212,206 | €147,403 | -€64,802 | -30.5% |
| Advances received on contracts in progress | 46 | €2,720 | €56,811 | +€54,091 | +1988.7% |
| Taxes, remuneration and social security | 45 | €806,864 | €939,926 | +€133,062 | +16.5% |
| Taxes | 450/3 | €148,649 | €310,064 | +€161,415 | +108.6% |
| Remuneration and social security | 454/9 | €658,215 | €629,862 | -€28,353 | -4.3% |
| Other amounts payable | 47/48 | €153,611 | €175,699 | +€22,089 | +14.4% |
| Accrued charges and deferred income | 492/3 | €6,523 | €51,308 | +€44,785 | +686.6% |
| Remuneration, social security and pensions | 62 | €4,048,512 | €4,135,342 | +€86,830 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,886 | €101,581 | -€1,305 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,488 | €659 | +€11,147 | |
| Other operating charges | 640/8 | €123,763 | €37,704 | -€86,059 | -69.5% |
| Non-recurring operating charges | 66A | €7,294 | €6,363 | -€931 | -12.8% |
| Gross operating margin | 9900 | €4,700,357 | €4,860,413 | +€160,056 | +3.4% |
| Operating profit (loss) | 9901 | €428,390 | €578,763 | +€150,373 | +35.1% |
| Financial income | 75/76B | - | €126,073 | +€126,073 | |
| Recurring financial income | 75 | - | €84,780 | +€84,780 | |
| Non-recurring financial income | 76B | - | €41,293 | +€41,293 | |
| Financial charges | 65/66B | - | €53,570 | +€53,570 | |
| Recurring financial charges | 65 | - | €53,570 | +€53,570 | |
| Profit (loss) for the period before taxes | 9903 | €428,390 | €651,266 | +€222,876 | +52.0% |
| Income taxes | 67/77 | €108,669 | €174,949 | +€66,280 | +61.0% |
| Profit (loss) for the period | 9904 | €319,721 | €476,317 | +€156,596 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €319,721 | €476,317 | +€156,596 | +49.0% |
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 9 October 2026 via checked.be.