WALL.S: 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.S
Largest movements
- Tangible fixed assets +€147,127
up €147,127 (+32.8%), from €448,735 to €595,862
of which Land and buildings: +€166,121
- Receivables within one year +€137,150
up €137,150 (+1866.0%), from €7,350 to €144,500
of which Other amounts receivable: +€79,625
- Cash +€43,085
up €43,085 (+71.4%), from €60,350 to €103,435
mainly Net result for the year (+€167,860) and Contributions, distributions and other (+€112,000)
- Profit (loss) carried forward +€167,860
new in 2025: €167,860
- Other debts -€132,808
down €132,808 (-79.2%), from €167,736 to €34,928
- Revaluation surpluses +€112,000
new in 2025: €112,000
- Tax, wage and social debts +€66,246
up €66,246 (+741.2%), from €8,938 to €75,184
- Trade debts +€50,684
up €50,684 (+847.1%), from €5,983 to €56,667
- Gross operating margin +€216,057
up €216,057 (+225.3%), from €95,892 to €311,948
- Taxes +€44,512
up €44,512 (+397.9%), from €11,187 to €55,699
- Depreciation +€25,170
up €25,170 (+163.2%), from €15,421 to €40,590
- Financial charges +€9,581
up €9,581 (+177.3%), from €5,405 to €14,987
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 | €517,627 | €845,199 | +€327,572 | +63.3% |
| Fixed assets | 21/28 | €448,735 | €595,862 | +€147,127 | +32.8% |
| Tangible fixed assets | 22/27 | €448,735 | €595,862 | +€147,127 | +32.8% |
| Land and buildings | 22 | €387,482 | €553,603 | +€166,121 | +42.9% |
| Plant, machinery and equipment | 23 | €5,908 | €2,931 | -€2,978 | -50.4% |
| Furniture and vehicles | 24 | €55,344 | €39,328 | -€16,016 | -28.9% |
| Current assets | 29/58 | €68,892 | €249,338 | +€180,445 | +261.9% |
| Amounts receivable within one year | 40/41 | €7,350 | €144,500 | +€137,150 | +1866.0% |
| Trade receivables | 40 | €5,575 | €63,100 | +€57,525 | +1031.9% |
| Other amounts receivable | 41 | €1,775 | €81,400 | +€79,625 | +4485.7% |
| Cash at bank and in hand | 54/58 | €60,350 | €103,435 | +€43,085 | +71.4% |
| Deferred charges and accrued income | 490/1 | €1,193 | €1,402 | +€210 | +17.6% |
| Total equity and liabilities | 10/49 | €517,627 | €845,199 | +€327,572 | +63.3% |
| Equity | 10/15 | €110,409 | €390,268 | +€279,860 | +253.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | - | €112,000 | +€112,000 | |
| Reserves | 13 | €98,009 | €98,009 | = | 0.0% |
| Distributable reserves | 133 | €98,009 | €98,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €167,860 | +€167,860 | |
| Amounts payable | 17/49 | €407,218 | €454,931 | +€47,713 | +11.7% |
| Amounts payable after more than one year | 17 | €212,619 | €243,184 | +€30,565 | +14.4% |
| Financial debts | 170/4 | €212,619 | €243,184 | +€30,565 | +14.4% |
| Amounts payable within one year | 42/48 | €191,599 | €206,347 | +€14,748 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €8,942 | €34,527 | +€25,586 | +286.1% |
| Financial debts | 43 | - | €5,041 | +€5,041 | |
| Credit institutions | 430/8 | - | €5,041 | +€5,041 | |
| Trade debts | 44 | €5,983 | €56,667 | +€50,684 | +847.1% |
| Suppliers | 440/4 | €5,983 | €56,667 | +€50,684 | +847.1% |
| Taxes, remuneration and social security | 45 | €8,938 | €75,184 | +€66,246 | +741.2% |
| Taxes | 450/3 | €8,938 | €75,184 | +€66,246 | +741.2% |
| Other amounts payable | 47/48 | €167,736 | €34,928 | -€132,808 | -79.2% |
| Accrued charges and deferred income | 492/3 | €3,000 | €5,400 | +€2,400 | +80.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,421 | €40,590 | +€25,170 | +163.2% |
| Other operating charges | 640/8 | €34,264 | €32,813 | -€1,451 | -4.2% |
| Gross operating margin | 9900 | €95,892 | €311,948 | +€216,057 | +225.3% |
| Operating profit (loss) | 9901 | €46,207 | €238,545 | +€192,338 | +416.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €5,405 | €14,987 | +€9,581 | +177.3% |
| Recurring financial charges | 65 | €5,405 | €14,987 | +€9,581 | +177.3% |
| Profit (loss) for the period before taxes | 9903 | €40,802 | €223,558 | +€182,756 | +447.9% |
| Income taxes | 67/77 | €11,187 | €55,699 | +€44,512 | +397.9% |
| Profit (loss) for the period | 9904 | €29,616 | €167,860 | +€138,244 | +466.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,616 | €167,860 | +€138,244 | +466.8% |
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.