WALSCHAP: 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.
WALSCHAP
Largest movements
- Tangible fixed assets -€24,563
down €24,563 (-4.1%), from €604,005 to €579,441
of which Land and buildings: -€18,753
- Receivables within one year +€19,791
up €19,791 (+177%), from €11,172 to €30,963
of which Trade receivables: +€23,882
- Cash +€12,918
up €12,918 (+133%), from €9,699 to €22,617
mainly Short-term financial debts (+€53,293) and Net result for the year (+€44,705)
- Other debts -€95,301
down €95,301 (-31.0%), from €307,603 to €212,302
- Short-term financial debts +€53,293
up €53,293 (+140%), from €38,141 to €91,433
of which Other loans: +€91,433
- Reserves +€44,705
up €44,705 (+23.7%), from €188,537 to €233,243
of which Distributable reserves: +€46,565
- Debts after one year -€10,850
down €10,850 (-19.6%), from €55,419 to €44,570
- Trade debts +€8,575
up €8,575 (+2,989%), from €287 to €8,861
- Gross operating margin +€32,219
up €32,219 (+55.5%), from €58,060 to €90,278
- Financial charges -€15,401
down €15,401 (-90.2%), from €17,080 to €1,679
- Taxes +€13,310
up €13,310 (+296%), from €4,496 to €17,806
- Depreciation -€2,769
down €2,769 (-10.1%), from €27,392 to €24,623
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 | €629,783 | €637,931 | +€8,148 | +1.3% |
| Fixed assets | 21/28 | €604,005 | €579,441 | -€24,563 | -4.1% |
| Tangible fixed assets | 22/27 | €604,005 | €579,441 | -€24,563 | -4.1% |
| Land and buildings | 22 | €588,479 | €569,726 | -€18,753 | -3.2% |
| Plant, machinery and equipment | 23 | €3,839 | €3,056 | -€784 | -20.4% |
| Furniture and vehicles | 24 | €10,987 | €6,659 | -€4,328 | -39.4% |
| Other tangible fixed assets | 26 | €699 | €0 | -€699 | -100% |
| Current assets | 29/58 | €25,779 | €58,490 | +€32,711 | +127% |
| Amounts receivable within one year | 40/41 | €11,172 | €30,963 | +€19,791 | +177% |
| Trade receivables | 40 | €7,081 | €30,963 | +€23,882 | +337% |
| Other amounts receivable | 41 | €4,091 | €0 | -€4,091 | -100% |
| Cash at bank and in hand | 54/58 | €9,699 | €22,617 | +€12,918 | +133% |
| Deferred charges and accrued income | 490/1 | €4,907 | €4,910 | +€3 | +0.1% |
| Total equity and liabilities | 10/49 | €629,783 | €637,931 | +€8,148 | +1.3% |
| Equity | 10/15 | €207,137 | €251,843 | +€44,705 | +21.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,537 | €233,243 | +€44,705 | +23.7% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €186,677 | €233,243 | +€46,565 | +24.9% |
| Amounts payable | 17/49 | €422,646 | €386,088 | -€36,558 | -8.6% |
| Amounts payable after more than one year | 17 | €55,419 | €44,570 | -€10,850 | -19.6% |
| Financial debts | 170/4 | €55,419 | €44,570 | -€10,850 | -19.6% |
| Amounts payable within one year | 42/48 | €367,227 | €341,161 | -€26,066 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €10,622 | €10,850 | +€228 | +2.1% |
| Financial debts | 43 | €38,141 | €91,433 | +€53,293 | +140% |
| Credit institutions | 430/8 | €38,141 | €0 | -€38,141 | -100% |
| Other loans | 439 | - | €91,433 | +€91,433 | |
| Trade debts | 44 | €287 | €8,861 | +€8,575 | +2,989% |
| Suppliers | 440/4 | €287 | €8,861 | +€8,575 | +2,989% |
| Taxes, remuneration and social security | 45 | €10,574 | €17,715 | +€7,141 | +67.5% |
| Taxes | 450/3 | €10,574 | €17,715 | +€7,141 | +67.5% |
| Other amounts payable | 47/48 | €307,603 | €212,302 | -€95,301 | -31.0% |
| Accrued charges and deferred income | 492/3 | - | €358 | +€358 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,392 | €24,623 | -€2,769 | -10.1% |
| Other operating charges | 640/8 | €1,113 | €1,530 | +€418 | +37.5% |
| Gross operating margin | 9900 | €58,060 | €90,278 | +€32,219 | +55.5% |
| Operating profit (loss) | 9901 | €29,555 | €64,125 | +€34,570 | +117% |
| Financial income | 75/76B | €0 | €65 | +€65 | +50,262% |
| Recurring financial income | 75 | €0 | €65 | +€65 | +50,262% |
| Financial charges | 65/66B | €17,080 | €1,679 | -€15,401 | -90.2% |
| Recurring financial charges | 65 | €17,080 | €1,679 | -€15,401 | -90.2% |
| Profit (loss) for the period before taxes | 9903 | €12,475 | €62,511 | +€50,036 | +401% |
| Income taxes | 67/77 | €4,496 | €17,806 | +€13,310 | +296% |
| Profit (loss) for the period | 9904 | €7,979 | €44,705 | +€36,726 | +460% |
| Profit (loss) for the period to be appropriated | 9905 | €7,979 | €44,705 | +€36,726 | +460% |
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 22 October 2026 via checked.be.