Wallace: 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.
Wallace
Largest movements
- Cash -€81,421
down €81,421 (-54.7%), from €148,758 to €67,337
mainly Other debts (-€157,468) and Debts after one year (-€114,779)
- Receivables within one year +€35,176
up €35,176 (+33.0%), from €106,509 to €141,685
of which Other amounts receivable: +€23,290
- Reserves +€259,859
up €259,859 (+21.3%), from €1.2m to €1.5m
- Other debts -€157,468
down €157,468 (-58.8%), from €267,698 to €110,230
- Debts after one year -€114,779
down €114,779 (-49.2%), from €233,058 to €118,279
- Financial income +€98,480
up €98,480 (+70.3%), from €140,067 to €238,547
- Staff costs +€19,542
up €19,542 (+11.8%), from €165,525 to €185,068
- Taxes -€9,299
down €9,299 (-66.9%), from €13,892 to €4,594
- Gross operating margin +€5,358
up €5,358 (+2.4%), from €221,433 to €226,791
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 | €2,004,867 | €1,974,028 | -€30,839 | -1.5% |
| Fixed assets | 21/28 | €1,686,599 | €1,690,006 | +€3,407 | +0.2% |
| Tangible fixed assets | 22/27 | - | €3,407 | +€3,407 | |
| Furniture and vehicles | 24 | - | €3,407 | +€3,407 | |
| Financial fixed assets | 28 | €1,686,599 | €1,686,599 | = | 0.0% |
| Current assets | 29/58 | €318,267 | €284,022 | -€34,246 | -10.8% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €106,509 | €141,685 | +€35,176 | +33.0% |
| Trade receivables | 40 | €25,370 | €37,256 | +€11,886 | +46.9% |
| Other amounts receivable | 41 | €81,139 | €104,429 | +€23,290 | +28.7% |
| Current investments | 50/53 | €13,000 | €25,000 | +€12,000 | +92.3% |
| Cash at bank and in hand | 54/58 | €148,758 | €67,337 | -€81,421 | -54.7% |
| Total equity and liabilities | 10/49 | €2,004,867 | €1,974,028 | -€30,839 | -1.5% |
| Equity | 10/15 | €1,318,057 | €1,577,916 | +€259,859 | +19.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,218,057 | €1,477,916 | +€259,859 | +21.3% |
| Distributable reserves | 133 | €1,218,057 | €1,477,916 | +€259,859 | +21.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €686,810 | €396,112 | -€290,698 | -42.3% |
| Amounts payable after more than one year | 17 | €233,058 | €118,279 | -€114,779 | -49.2% |
| Financial debts | 170/4 | €233,058 | €118,279 | -€114,779 | -49.2% |
| Amounts payable within one year | 42/48 | €453,752 | €277,833 | -€175,919 | -38.8% |
| Current portion of amounts payable after more than one year | 42 | €113,903 | €113,903 | = | 0.0% |
| Financial debts | 43 | €15,000 | €8,363 | -€6,637 | -44.2% |
| Credit institutions | 430/8 | €15,000 | €8,363 | -€6,637 | -44.2% |
| Trade debts | 44 | €1,535 | €160 | -€1,375 | -89.6% |
| Suppliers | 440/4 | €1,535 | €160 | -€1,375 | -89.6% |
| Taxes, remuneration and social security | 45 | €55,616 | €45,176 | -€10,440 | -18.8% |
| Taxes | 450/3 | €28,879 | €19,904 | -€8,975 | -31.1% |
| Remuneration and social security | 454/9 | €26,738 | €25,272 | -€1,465 | -5.5% |
| Other amounts payable | 47/48 | €267,698 | €110,230 | -€157,468 | -58.8% |
| Remuneration, social security and pensions | 62 | €165,525 | €185,068 | +€19,542 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €340 | +€340 | |
| Other operating charges | 640/8 | €1,084 | €254 | -€830 | -76.6% |
| Gross operating margin | 9900 | €221,433 | €226,791 | +€5,358 | +2.4% |
| Operating profit (loss) | 9901 | €54,824 | €41,129 | -€13,695 | -25.0% |
| Financial income | 75/76B | €140,067 | €238,547 | +€98,480 | +70.3% |
| Recurring financial income | 75 | €140,067 | €238,547 | +€98,480 | +70.3% |
| Financial charges | 65/66B | €4,041 | €3,276 | -€765 | -18.9% |
| Recurring financial charges | 65 | €4,041 | €3,276 | -€765 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €190,850 | €276,400 | +€85,550 | +44.8% |
| Income taxes | 67/77 | €13,892 | €4,594 | -€9,299 | -66.9% |
| Profit (loss) for the period | 9904 | €176,958 | €271,806 | +€94,848 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €176,958 | €271,806 | +€94,848 | +53.6% |
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.