WALLSTONE: 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.
WALLSTONE
Largest movements
- Receivables within one year +€2.3m
up €2.3m (+25,384%), from €9,118 to €2.3m
of which Other amounts receivable: +€2.3m
- Stocks and contracts +€851,088
up €851,088 (+69.1%), from €1.2m to €2.1m
- Tangible fixed assets -€463,364
down €463,364 (-30.1%), from €1.5m to €1.1m
of which Land and buildings: -€461,367
- Other debts +€1.8m
up €1.8m (+312%), from €580,701 to €2.4m
- Trade debts +€805,324
up €805,324 (+251%), from €320,747 to €1.1m
- Accrued charges and deferred income +€190,728
up €190,728 (+726%), from €26,268 to €216,996
- Debts after one year -€134,918
down €134,918 (-19.9%), from €678,925 to €544,007
- Financial charges +€183,384
up €183,384 (+267%), from €68,721 to €252,105
- Gross operating margin +€178,042
up €178,042 (+77.7%), from €229,162 to €407,204
- Other operating charges +€45,811
up €45,811 (+163%), from €28,097 to €73,908
- Financial income +€38,521
up €38,521 (+3,098%), from €1,243 to €39,764
- Depreciation -€17,189
down €17,189 (-28.9%), from €59,458 to €42,269
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.
Derived cash bridge
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 | €2,808,692 | €5,537,708 | +€2.7m | +97.2% |
| Fixed assets | 21/28 | €1,538,527 | €1,075,563 | -€462,964 | -30.1% |
| Tangible fixed assets | 22/27 | €1,538,527 | €1,075,163 | -€463,364 | -30.1% |
| Land and buildings | 22 | €1,529,851 | €1,068,484 | -€461,367 | -30.2% |
| Plant, machinery and equipment | 23 | €8,675 | €6,679 | -€1,997 | -23.0% |
| Financial fixed assets | 28 | - | €400 | +€400 | |
| Current assets | 29/58 | €1,270,165 | €4,462,145 | +€3.2m | +251% |
| Stocks and contracts in progress | 3 | €1,232,229 | €2,083,317 | +€851,088 | +69.1% |
| Stocks | 30/36 | €1,232,229 | €2,083,317 | +€851,088 | +69.1% |
| Amounts receivable within one year | 40/41 | €9,118 | €2,323,689 | +€2.3m | +25,384% |
| Trade receivables | 40 | €484 | €12,262 | +€11,778 | +2,431% |
| Other amounts receivable | 41 | €8,634 | €2,311,427 | +€2.3m | +26,672% |
| Cash at bank and in hand | 54/58 | €28,068 | €26,904 | -€1,164 | -4.1% |
| Deferred charges and accrued income | 490/1 | €751 | €28,235 | +€27,484 | +3,661% |
| Total equity and liabilities | 10/49 | €2,808,692 | €5,537,708 | +€2.7m | +97.2% |
| Equity | 10/15 | €779,277 | €835,979 | +€56,701 | +7.3% |
| Contributions | 10/11 | €432,936 | €432,936 | = | 0.0% |
| Capital | 10 | €432,936 | €432,936 | = | 0.0% |
| Issued capital | 100 | €432,936 | €432,936 | = | 0.0% |
| Reserves | 13 | €343,294 | €393,294 | +€50,000 | +14.6% |
| Non-distributable reserves | 130/1 | €43,294 | €43,294 | = | 0.0% |
| Legal reserve | 130 | €43,294 | €43,294 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €350,000 | +€50,000 | +16.7% |
| Profit (loss) carried forward | 14 | €3,047 | €9,749 | +€6,701 | +220% |
| Amounts payable | 17/49 | €2,029,415 | €4,701,729 | +€2.7m | +132% |
| Amounts payable after more than one year | 17 | €678,925 | €544,007 | -€134,918 | -19.9% |
| Financial debts | 170/4 | €678,925 | €544,007 | -€134,918 | -19.9% |
| Amounts payable within one year | 42/48 | €1,324,222 | €3,940,727 | +€2.6m | +198% |
| Current portion of amounts payable after more than one year | 42 | €410,941 | €400,302 | -€10,639 | -2.6% |
| Financial debts | 43 | €7,363 | €6,030 | -€1,334 | -18.1% |
| Credit institutions | 430/8 | €7,363 | €6,030 | -€1,334 | -18.1% |
| Trade debts | 44 | €320,747 | €1,126,071 | +€805,324 | +251% |
| Suppliers | 440/4 | €320,747 | €1,126,071 | +€805,324 | +251% |
| Taxes, remuneration and social security | 45 | €4,470 | €16,455 | +€11,985 | +268% |
| Taxes | 450/3 | €4,470 | €16,455 | +€11,985 | +268% |
| Other amounts payable | 47/48 | €580,701 | €2,391,869 | +€1.8m | +312% |
| Accrued charges and deferred income | 492/3 | €26,268 | €216,996 | +€190,728 | +726% |
| Non-recurring operating income | 76A | - | €378,905 | +€378,905 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,458 | €42,269 | -€17,189 | -28.9% |
| Other operating charges | 640/8 | €28,097 | €73,908 | +€45,811 | +163% |
| Gross operating margin | 9900 | €229,162 | €407,204 | +€178,042 | +77.7% |
| Operating profit (loss) | 9901 | €141,608 | €291,028 | +€149,420 | +106% |
| Financial income | 75/76B | €1,243 | €39,764 | +€38,521 | +3,098% |
| Recurring financial income | 75 | €1,243 | €39,764 | +€38,521 | +3,098% |
| Financial charges | 65/66B | €68,721 | €252,105 | +€183,384 | +267% |
| Recurring financial charges | 65 | €68,721 | €252,105 | +€183,384 | +267% |
| Profit (loss) for the period before taxes | 9903 | €74,130 | €78,687 | +€4,557 | +6.1% |
| Income taxes | 67/77 | €17,343 | €21,985 | +€4,643 | +26.8% |
| Profit (loss) for the period | 9904 | €56,787 | €56,701 | -€86 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,787 | €56,701 | -€86 | -0.2% |
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 24 October 2026 via checked.be.