WALL CONNECT: what changed
Two fiscal 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.
WALL CONNECT
Largest movements
- Receivables within one year +€116,177
up €116,177 (+92.0%), from €126,272 to €242,450
of which Other amounts receivable: +€70,293
- Cash -€38,515
down €38,515 (-10.6%), from €364,837 to €326,322
mainly Receivables within one year (-€116,177) and Trade debts (-€79,472)
- Deferred charges and accrued income +€33,342
up €33,342 (+1583.5%), from €2,106 to €35,448
- Tangible fixed assets -€26,181
down €26,181 (-23.7%), from €110,372 to €84,191
of which Furniture and vehicles: -€51,729
- Reserves +€194,107
up €194,107 (+54.8%), from €354,260 to €548,367
- Trade debts -€79,472
down €79,472 (-99.1%), from €80,209 to €737
- Tax, wage and social debts -€65,202
down €65,202 (-39.3%), from €166,118 to €100,916
of which Taxes: -€68,740
- Accrued charges and deferred income +€35,391
new in 2025: €35,391
- Gross operating margin +€164,379
up €164,379 (+41.1%), from €399,606 to €563,986
- Staff costs +€65,438
up €65,438 (+37.5%), from €174,316 to €239,753
- Taxes +€23,542
up €23,542 (+51.0%), from €46,178 to €69,720
- Depreciation +€9,953
up €9,953 (+22.2%), from €44,806 to €54,759
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 | €603,587 | €688,411 | +€84,823 | +14.1% |
| Fixed assets | 21/28 | €110,372 | €84,191 | -€26,181 | -23.7% |
| Tangible fixed assets | 22/27 | €110,372 | €84,191 | -€26,181 | -23.7% |
| Plant, machinery and equipment | 23 | €615 | €9,063 | +€8,448 | +1373.4% |
| Furniture and vehicles | 24 | €109,757 | €58,028 | -€51,729 | -47.1% |
| Other tangible fixed assets | 26 | - | €17,100 | +€17,100 | |
| Current assets | 29/58 | €493,215 | €604,220 | +€111,005 | +22.5% |
| Amounts receivable within one year | 40/41 | €126,272 | €242,450 | +€116,177 | +92.0% |
| Trade receivables | 40 | €57,845 | €103,729 | +€45,884 | +79.3% |
| Other amounts receivable | 41 | €68,427 | €138,721 | +€70,293 | +102.7% |
| Cash at bank and in hand | 54/58 | €364,837 | €326,322 | -€38,515 | -10.6% |
| Deferred charges and accrued income | 490/1 | €2,106 | €35,448 | +€33,342 | +1583.5% |
| Total equity and liabilities | 10/49 | €603,587 | €688,411 | +€84,823 | +14.1% |
| Equity | 10/15 | €357,260 | €551,367 | +€194,107 | +54.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €354,260 | €548,367 | +€194,107 | +54.8% |
| Distributable reserves | 133 | €354,260 | €548,367 | +€194,107 | +54.8% |
| Amounts payable | 17/49 | €246,327 | €137,044 | -€109,284 | -44.4% |
| Amounts payable within one year | 42/48 | €246,327 | €101,653 | -€144,674 | -58.7% |
| Trade debts | 44 | €80,209 | €737 | -€79,472 | -99.1% |
| Suppliers | 440/4 | €80,209 | €737 | -€79,472 | -99.1% |
| Taxes, remuneration and social security | 45 | €166,118 | €100,916 | -€65,202 | -39.3% |
| Taxes | 450/3 | €154,446 | €85,706 | -€68,740 | -44.5% |
| Remuneration and social security | 454/9 | €11,672 | €15,210 | +€3,538 | +30.3% |
| Accrued charges and deferred income | 492/3 | - | €35,391 | +€35,391 | |
| Remuneration, social security and pensions | 62 | €174,316 | €239,753 | +€65,438 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,806 | €54,759 | +€9,953 | +22.2% |
| Other operating charges | 640/8 | €3,941 | €2,061 | -€1,880 | -47.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €399,606 | €563,986 | +€164,379 | +41.1% |
| Operating profit (loss) | 9901 | €176,543 | €267,412 | +€90,869 | +51.5% |
| Financial income | 75/76B | €9 | €641 | +€631 | +6878.8% |
| Recurring financial income | 75 | €9 | €641 | +€631 | +6878.8% |
| Financial charges | 65/66B | €3,020 | €4,225 | +€1,205 | +39.9% |
| Recurring financial charges | 65 | €3,020 | €4,225 | +€1,205 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €173,532 | €263,827 | +€90,295 | +52.0% |
| Income taxes | 67/77 | €46,178 | €69,720 | +€23,542 | +51.0% |
| Profit (loss) for the period | 9904 | €127,354 | €194,107 | +€66,753 | +52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €127,354 | €194,107 | +€66,753 | +52.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.