WALRUS SOLUTION: 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.
WALRUS SOLUTION
Largest movements
- Cash +€10,761
up €10,761 (+11.4%), from €94,012 to €104,774
mainly Net result for the year (+€80,281) and Other debts (+€49,065)
- Intangible fixed assets -€7,779
down €7,779 (-43.8%), from €17,748 to €9,969
- Receivables within one year -€7,312
down €7,312 (-21.2%), from €34,534 to €27,222
of which Trade receivables: -€7,088
- Tangible fixed assets +€2,589
up €2,589 (+97.7%), from €2,649 to €5,237
- Other debts +€49,065
up €49,065 (+63.0%), from €77,908 to €126,972
- Reserves -€45,500
no longer reported in 2025 (was €45,500)
- Tax, wage and social debts -€4,492
down €4,492 (-18.9%), from €23,711 to €19,219
- Gross operating margin -€18,543
down €18,543 (-13.7%), from €135,801 to €117,259
- Taxes -€5,734
down €5,734 (-20.2%), from €28,369 to €22,635
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 | €153,419 | €151,861 | -€1,557 | -1.0% |
| Fixed assets | 21/28 | €20,397 | €15,206 | -€5,190 | -25.4% |
| Intangible fixed assets | 21 | €17,748 | €9,969 | -€7,779 | -43.8% |
| Tangible fixed assets | 22/27 | €2,649 | €5,237 | +€2,589 | +97.7% |
| Furniture and vehicles | 24 | €2,649 | €5,237 | +€2,589 | +97.7% |
| Current assets | 29/58 | €133,022 | €136,655 | +€3,633 | +2.7% |
| Amounts receivable within one year | 40/41 | €34,534 | €27,222 | -€7,312 | -21.2% |
| Trade receivables | 40 | €30,945 | €23,857 | -€7,088 | -22.9% |
| Other amounts receivable | 41 | €3,589 | €3,365 | -€224 | -6.3% |
| Cash at bank and in hand | 54/58 | €94,012 | €104,774 | +€10,761 | +11.4% |
| Deferred charges and accrued income | 490/1 | €4,476 | €4,660 | +€184 | +4.1% |
| Total equity and liabilities | 10/49 | €153,419 | €151,861 | -€1,557 | -1.0% |
| Equity | 10/15 | €48,500 | €3,000 | -€45,500 | -93.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €45,500 | - | -€45,500 | |
| Distributable reserves | 133 | €45,500 | - | -€45,500 | |
| Amounts payable | 17/49 | €104,919 | €148,861 | +€43,943 | +41.9% |
| Amounts payable within one year | 42/48 | €104,894 | €148,861 | +€43,967 | +41.9% |
| Trade debts | 44 | €3,276 | €2,670 | -€606 | -18.5% |
| Suppliers | 440/4 | €3,276 | €2,670 | -€606 | -18.5% |
| Taxes, remuneration and social security | 45 | €23,711 | €19,219 | -€4,492 | -18.9% |
| Taxes | 450/3 | €23,711 | €19,219 | -€4,492 | -18.9% |
| Other amounts payable | 47/48 | €77,908 | €126,972 | +€49,065 | +63.0% |
| Accrued charges and deferred income | 492/3 | €25 | - | -€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,255 | €9,500 | -€754 | -7.4% |
| Other operating charges | 640/8 | €1,224 | €1,204 | -€20 | -1.6% |
| Gross operating margin | 9900 | €135,801 | €117,259 | -€18,543 | -13.7% |
| Operating profit (loss) | 9901 | €124,323 | €106,555 | -€17,769 | -14.3% |
| Financial charges | 65/66B | €4,298 | €3,638 | -€660 | -15.4% |
| Recurring financial charges | 65 | €4,298 | €3,638 | -€660 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €120,025 | €102,916 | -€17,109 | -14.3% |
| Income taxes | 67/77 | €28,369 | €22,635 | -€5,734 | -20.2% |
| Profit (loss) for the period | 9904 | €91,656 | €80,281 | -€11,375 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €91,656 | €80,281 | -€11,375 | -12.4% |
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 25 October 2026 via checked.be.