WALLS & HEART: what changed
What changed
WALLS & HEART
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
€338,762
2024 · €214,281+€124,482
Equity
€942,893
2024 · €619,130+€323,762
Cash
€107,240
2024 · €217,872-€110,631
Balance sheet total
€1.3m
2024 · €1.1m+€166,476
Largest movements
Assets
- Current investments +€300,000
up €300,000, from €0 to €300,000
- Cash -€110,631
down €110,631 (-50.8%), from €217,872 to €107,240
mainly Current investments (-€300,000) and Other debts (-€195,000)
- Receivables within one year -€24,702
down €24,702 (-3.2%), from €767,578 to €742,876
of which Other amounts receivable: -€142,565
Equity and liabilities
- Profit (loss) carried forward +€323,762
up €323,762 (+86.0%), from €376,298 to €700,060
- Other debts -€195,000
down €195,000 (-92.9%), from €210,000 to €15,000
- Trade debts +€62,512
up €62,512 (+44.1%), from €141,783 to €204,295
- Debts after one year -€20,082
down €20,082 (-100%), from €20,082 to €0
- Tax, wage and social debts -€19,127
down €19,127 (-21.2%), from €90,264 to €71,137
of which Taxes: -€22,001
Income statement
- Gross operating margin +€261,491
up €261,491 (+32.7%), from €800,557 to €1.1m
- Staff costs +€76,655
up €76,655 (+17.1%), from €449,226 to €525,881
- Taxes +€32,122
up €32,122 (+37.1%), from €86,597 to €118,720
- Financial charges +€11,022
up €11,022 (+264%), from €4,179 to €15,201
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€214,281
Gross operating margin
+€261,491
Staff costs
-€76,655
Depreciation
-€6,369
Other operating charges
-€960
Other operating items
-€2,661
Financial income
-€7,220
Financial charges
-€11,022
Taxes
-€32,122
Result 2025
€338,762
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€269,975
Investment
-€345,894
Financing
-€34,713
Cash 2024
€217,872
From operations (derived)
+€269,975
Net result for the year
+€338,762
Depreciation
+€46,094
Receivables within one year
+€24,702
Deferred charges and accrued income
-€2,010
Trade debts
+€62,512
Tax, wage and social debts
-€19,127
Other debts
-€195,000
Accrued charges and deferred income
+€14,041
Investment (derived)
-€345,894
Investment in fixed assets (net)
-€45,894
Current investments
-€300,000
Financing
-€34,713
Debts after one year
-€20,082
Current portion of long-term debt
+€369
Contributions, distributions and other
-€15,000
Cash 2025
€107,240
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,100,972 | €1,267,448 | +€166,476 | +15.1% |
| Fixed assets | 21/28 | €83,030 | €82,829 | -€200 | -0.2% |
| Intangible fixed assets | 21 | €12,878 | €8,152 | -€4,726 | -36.7% |
| Tangible fixed assets | 22/27 | €68,901 | €73,427 | +€4,526 | +6.6% |
| Furniture and vehicles | 24 | €33,074 | €54,823 | +€21,749 | +65.8% |
| Other tangible fixed assets | 26 | €35,828 | €18,604 | -€17,223 | -48.1% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €1,017,943 | €1,184,619 | +€166,676 | +16.4% |
| Amounts receivable within one year | 40/41 | €767,578 | €742,876 | -€24,702 | -3.2% |
| Trade receivables | 40 | €615,013 | €732,876 | +€117,863 | +19.2% |
| Other amounts receivable | 41 | €152,565 | €10,000 | -€142,565 | -93.4% |
| Current investments | 50/53 | €0 | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €217,872 | €107,240 | -€110,631 | -50.8% |
| Deferred charges and accrued income | 490/1 | €32,493 | €34,503 | +€2,010 | +6.2% |
| Total equity and liabilities | 10/49 | €1,100,972 | €1,267,448 | +€166,476 | +15.1% |
| Equity | 10/15 | €619,130 | €942,893 | +€323,762 | +52.3% |
| Contributions | 10/11 | €193,250 | €193,250 | = | 0.0% |
| Capital | 10 | €193,250 | €193,250 | = | 0.0% |
| Issued capital | 100 | €193,250 | €193,250 | = | 0.0% |
| Reserves | 13 | €49,582 | €49,582 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,325 | €19,325 | = | 0.0% |
| Legal reserve | 130 | €19,325 | €19,325 | = | 0.0% |
| Distributable reserves | 133 | €30,257 | €30,257 | = | 0.0% |
| Profit (loss) carried forward | 14 | €376,298 | €700,060 | +€323,762 | +86.0% |
| Amounts payable | 17/49 | €481,842 | €324,556 | -€157,287 | -32.6% |
| Amounts payable after more than one year | 17 | €20,082 | €0 | -€20,082 | -100% |
| Financial debts | 170/4 | €20,082 | €0 | -€20,082 | -100% |
| Amounts payable within one year | 42/48 | €461,760 | €310,515 | -€151,245 | -32.8% |
| Current portion of amounts payable after more than one year | 42 | €19,713 | €20,082 | +€369 | +1.9% |
| Trade debts | 44 | €141,783 | €204,295 | +€62,512 | +44.1% |
| Suppliers | 440/4 | €141,783 | €204,295 | +€62,512 | +44.1% |
| Taxes, remuneration and social security | 45 | €90,264 | €71,137 | -€19,127 | -21.2% |
| Taxes | 450/3 | €51,373 | €29,373 | -€22,001 | -42.8% |
| Remuneration and social security | 454/9 | €38,891 | €41,765 | +€2,874 | +7.4% |
| Other amounts payable | 47/48 | €210,000 | €15,000 | -€195,000 | -92.9% |
| Accrued charges and deferred income | 492/3 | €0 | €14,041 | +€14,041 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €449,226 | €525,881 | +€76,655 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,725 | €46,094 | +€6,369 | +16.0% |
| Other operating charges | 640/8 | €15,567 | €16,527 | +€960 | +6.2% |
| Non-recurring operating charges | 66A | €0 | €2,661 | +€2,661 | |
| Gross operating margin | 9900 | €800,557 | €1,062,047 | +€261,491 | +32.7% |
| Operating profit (loss) | 9901 | €296,039 | €470,885 | +€174,846 | +59.1% |
| Financial income | 75/76B | €9,018 | €1,797 | -€7,220 | -80.1% |
| Recurring financial income | 75 | €9,018 | €1,797 | -€7,220 | -80.1% |
| Financial charges | 65/66B | €4,179 | €15,201 | +€11,022 | +264% |
| Recurring financial charges | 65 | €4,179 | €15,201 | +€11,022 | +264% |
| Profit (loss) for the period before taxes | 9903 | €300,878 | €457,482 | +€156,604 | +52.0% |
| Income taxes | 67/77 | €86,597 | €118,720 | +€32,122 | +37.1% |
| Profit (loss) for the period | 9904 | €214,281 | €338,762 | +€124,482 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €214,281 | €338,762 | +€124,482 | +58.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.