Walrus Graphics: 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.
Walrus Graphics
Largest movements
- Cash +€45,913
up €45,913 (+17.2%), from €266,853 to €312,766
mainly Other debts (+€93,642) and Net result for the year (+€44,592)
- Tangible fixed assets -€11,277
down €11,277 (-32.1%), from €35,122 to €23,845
of which Furniture and vehicles: -€10,058
- Current investments +€5,000
up €5,000 (+5.4%), from €92,617 to €97,617
- Other debts +€93,642
up €93,642 (+596.6%), from €15,695 to €109,338
- Reserves -€49,241
down €49,241 (-15.5%), from €318,546 to €269,305
of which Distributable reserves: -€49,241
- Debts after one year -€4,705
down €4,705 (-24.9%), from €18,921 to €14,216
- Gross operating margin -€13,964
down €13,964 (-16.1%), from €86,804 to €72,840
- Financial income +€3,258
up €3,258 (+543.9%), from €599 to €3,857
- Taxes -€2,950
down €2,950 (-14.4%), from €20,468 to €17,517
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 | €397,255 | €434,244 | +€36,989 | +9.3% |
| Fixed assets | 21/28 | €35,122 | €23,845 | -€11,277 | -32.1% |
| Tangible fixed assets | 22/27 | €35,122 | €23,845 | -€11,277 | -32.1% |
| Plant, machinery and equipment | 23 | €1,728 | €509 | -€1,219 | -70.6% |
| Furniture and vehicles | 24 | €33,394 | €23,336 | -€10,058 | -30.1% |
| Current assets | 29/58 | €362,132 | €410,399 | +€48,266 | +13.3% |
| Amounts receivable within one year | 40/41 | €6 | €16 | +€10 | +166.7% |
| Trade receivables | 40 | €0 | €15 | +€15 | |
| Other amounts receivable | 41 | €6 | €1 | -€5 | -91.1% |
| Current investments | 50/53 | €92,617 | €97,617 | +€5,000 | +5.4% |
| Cash at bank and in hand | 54/58 | €266,853 | €312,766 | +€45,913 | +17.2% |
| Deferred charges and accrued income | 490/1 | €2,657 | €0 | -€2,657 | -100.0% |
| Total equity and liabilities | 10/49 | €397,255 | €434,244 | +€36,989 | +9.3% |
| Equity | 10/15 | €349,546 | €300,305 | -€49,241 | -14.1% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €318,546 | €269,305 | -€49,241 | -15.5% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €308,546 | €259,305 | -€49,241 | -16.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,709 | €133,939 | +€86,230 | +180.7% |
| Amounts payable after more than one year | 17 | €18,921 | €14,216 | -€4,705 | -24.9% |
| Financial debts | 170/4 | €18,921 | €14,216 | -€4,705 | -24.9% |
| Amounts payable within one year | 42/48 | €28,788 | €119,723 | +€90,934 | +315.9% |
| Current portion of amounts payable after more than one year | 42 | €4,476 | €4,705 | +€229 | +5.1% |
| Trade debts | 44 | €3,462 | €2,024 | -€1,438 | -41.5% |
| Suppliers | 440/4 | €3,462 | €2,024 | -€1,438 | -41.5% |
| Taxes, remuneration and social security | 45 | €5,155 | €3,656 | -€1,499 | -29.1% |
| Taxes | 450/3 | €5,155 | €3,656 | -€1,499 | -29.1% |
| Other amounts payable | 47/48 | €15,695 | €109,338 | +€93,642 | +596.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,194 | €11,802 | -€392 | -3.2% |
| Other operating charges | 640/8 | €1,243 | €1,573 | +€329 | +26.5% |
| Gross operating margin | 9900 | €86,804 | €72,840 | -€13,964 | -16.1% |
| Operating profit (loss) | 9901 | €73,366 | €59,465 | -€13,901 | -18.9% |
| Financial income | 75/76B | €599 | €3,857 | +€3,258 | +543.9% |
| Recurring financial income | 75 | €599 | €3,857 | +€3,258 | +543.9% |
| Financial charges | 65/66B | €1,429 | €1,213 | -€216 | -15.1% |
| Recurring financial charges | 65 | €1,429 | €1,213 | -€216 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €72,536 | €62,109 | -€10,427 | -14.4% |
| Income taxes | 67/77 | €20,468 | €17,517 | -€2,950 | -14.4% |
| Profit (loss) for the period | 9904 | €52,069 | €44,592 | -€7,477 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,069 | €44,592 | -€7,477 | -14.4% |
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 5 October 2026 via checked.be.