WALMAC FACTORY: 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.
WALMAC FACTORY
Largest movements
- Cash -€25,185
down €25,185 (-44.6%), from €56,451 to €31,265
mainly Trade debts (-€41,381) and Investment in fixed assets (net) (-€35,140)
- Tangible fixed assets +€20,779
up €20,779 (+22.8%), from €91,130 to €111,908
of which Other tangible fixed assets: +€21,670
- Stocks and contracts -€4,300
down €4,300 (-66.2%), from €6,500 to €2,200
- Trade debts -€41,381
down €41,381 (-86.6%), from €47,768 to €6,387
- Tax, wage and social debts +€8,987
up €8,987 (+157%), from €5,737 to €14,724
of which Remuneration and social security: +€7,263
- Current portion of long-term debt +€8,764
up €8,764 (+36.8%), from €23,790 to €32,554
- Debts after one year +€7,702
new in 2025: €7,702
- Reserves +€7,272
new in 2025: €7,272
- Staff costs +€22,678
up €22,678 (+288%), from €7,882 to €30,560
- Gross operating margin -€18,334
down €18,334 (-22.2%), from €82,515 to €64,181
- Financial charges -€6,877
down €6,877 (-51.0%), from €13,484 to €6,607
- Depreciation -€3,337
down €3,337 (-17.7%), from €18,854 to €15,516
- Taxes -€2,118
down €2,118 (-48.5%), from €4,366 to €2,247
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 | €159,620 | €149,025 | -€10,596 | -6.6% |
| Fixed assets | 21/28 | €93,068 | €112,692 | +€19,624 | +21.1% |
| Intangible fixed assets | 21 | €1,814 | €659 | -€1,155 | -63.7% |
| Tangible fixed assets | 22/27 | €91,130 | €111,908 | +€20,779 | +22.8% |
| Land and buildings | 22 | €52,860 | €50,969 | -€1,891 | -3.6% |
| Plant, machinery and equipment | 23 | €35,912 | €39,196 | +€3,284 | +9.1% |
| Furniture and vehicles | 24 | €2,358 | €73 | -€2,285 | -96.9% |
| Other tangible fixed assets | 26 | - | €21,670 | +€21,670 | |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €66,552 | €36,333 | -€30,219 | -45.4% |
| Stocks and contracts in progress | 3 | €6,500 | €2,200 | -€4,300 | -66.2% |
| Stocks | 30/36 | €6,500 | €2,200 | -€4,300 | -66.2% |
| Amounts receivable within one year | 40/41 | €2,431 | €849 | -€1,583 | -65.1% |
| Trade receivables | 40 | €2,297 | - | -€2,297 | |
| Other amounts receivable | 41 | €135 | €849 | +€714 | +531% |
| Cash at bank and in hand | 54/58 | €56,451 | €31,265 | -€25,185 | -44.6% |
| Deferred charges and accrued income | 490/1 | €1,170 | €2,018 | +€849 | +72.5% |
| Total equity and liabilities | 10/49 | €159,620 | €149,025 | -€10,596 | -6.6% |
| Equity | 10/15 | €70,528 | €77,800 | +€7,272 | +10.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €7,272 | +€7,272 | |
| Distributable reserves | 133 | - | €7,272 | +€7,272 | |
| Profit (loss) carried forward | 14 | €50,528 | €50,528 | = | 0.0% |
| Amounts payable | 17/49 | €89,092 | €71,225 | -€17,868 | -20.1% |
| Amounts payable after more than one year | 17 | - | €7,702 | +€7,702 | |
| Financial debts | 170/4 | - | €7,702 | +€7,702 | |
| Amounts payable within one year | 42/48 | €88,666 | €63,522 | -€25,144 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €23,790 | €32,554 | +€8,764 | +36.8% |
| Trade debts | 44 | €47,768 | €6,387 | -€41,381 | -86.6% |
| Suppliers | 440/4 | €47,768 | €6,387 | -€41,381 | -86.6% |
| Taxes, remuneration and social security | 45 | €5,737 | €14,724 | +€8,987 | +157% |
| Taxes | 450/3 | €3,838 | €5,562 | +€1,724 | +44.9% |
| Remuneration and social security | 454/9 | €1,899 | €9,163 | +€7,263 | +382% |
| Other amounts payable | 47/48 | €11,371 | €9,857 | -€1,514 | -13.3% |
| Accrued charges and deferred income | 492/3 | €426 | - | -€426 | |
| Remuneration, social security and pensions | 62 | €7,882 | €30,560 | +€22,678 | +288% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,854 | €15,516 | -€3,337 | -17.7% |
| Other operating charges | 640/8 | €2,277 | €2,076 | -€201 | -8.8% |
| Gross operating margin | 9900 | €82,515 | €64,181 | -€18,334 | -22.2% |
| Operating profit (loss) | 9901 | €53,503 | €16,028 | -€37,475 | -70.0% |
| Financial income | 75/76B | €30 | €98 | +€67 | +222% |
| Recurring financial income | 75 | €30 | €98 | +€67 | +222% |
| Financial charges | 65/66B | €13,484 | €6,607 | -€6,877 | -51.0% |
| Recurring financial charges | 65 | €13,484 | €6,607 | -€6,877 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €40,050 | €9,519 | -€30,531 | -76.2% |
| Income taxes | 67/77 | €4,366 | €2,247 | -€2,118 | -48.5% |
| Profit (loss) for the period | 9904 | €35,684 | €7,272 | -€28,412 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,684 | €7,272 | -€28,412 | -79.6% |
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 18 October 2026 via checked.be.