Walsha: 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.
Walsha
Largest movements
- Tangible fixed assets -€159,477
down €159,477 (-94.4%), from €169,007 to €9,531
of which Land and buildings: -€127,946
- Receivables within one year +€10,504
up €10,504 (+14,508%), from €72 to €10,576
of which Trade receivables: +€10,576
- Cash +€7,157
up €7,157 (+281%), from €2,544 to €9,701
mainly Investment in fixed assets (net) (+€150,612) and Net result for the year (+€27,431)
- Intangible fixed assets -€2,712
down €2,712 (-45.8%), from €5,915 to €3,203
- Debts after one year -€157,606
down €157,606 (-75.3%), from €209,382 to €51,776
- Profit (loss) carried forward +€27,431
up €27,431 (+28.6%), from -€95,757 to -€68,326
- Current portion of long-term debt -€8,706
no longer reported in 2025 (was €8,706)
- Other debts -€5,402
down €5,402 (-16.1%), from €33,577 to €28,175
- Trade debts -€2,532
down €2,532 (-29.4%), from €8,616 to €6,084
- Gross operating margin +€39,095
up €39,095 (+12,318%), from €317 to €39,412
- Depreciation -€8,936
down €8,936 (-43.6%), from €20,513 to €11,577
- Financial charges -€6,492
down €6,492 (-96.9%), from €6,698 to €206
- Financial income +€1,772
up €1,772 (+114,303%), from €2 to €1,773
of which Non-recurring financial income: +€1,773
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 | €184,983 | €40,321 | -€144,662 | -78.2% |
| Fixed assets | 21/28 | €181,122 | €18,933 | -€162,188 | -89.5% |
| Intangible fixed assets | 21 | €5,915 | €3,203 | -€2,712 | -45.8% |
| Tangible fixed assets | 22/27 | €169,007 | €9,531 | -€159,477 | -94.4% |
| Land and buildings | 22 | €129,776 | €1,830 | -€127,946 | -98.6% |
| Plant, machinery and equipment | 23 | €1,846 | €1,846 | = | 0.0% |
| Furniture and vehicles | 24 | €10,358 | €5,854 | -€4,504 | -43.5% |
| Other tangible fixed assets | 26 | €27,026 | - | -€27,026 | |
| Financial fixed assets | 28 | €6,200 | €6,200 | = | 0.0% |
| Current assets | 29/58 | €3,861 | €21,388 | +€17,527 | +454% |
| Amounts receivable within one year | 40/41 | €72 | €10,576 | +€10,504 | +14,508% |
| Trade receivables | 40 | €0 | €10,576 | +€10,576 | |
| Other amounts receivable | 41 | €72 | - | -€72 | |
| Cash at bank and in hand | 54/58 | €2,544 | €9,701 | +€7,157 | +281% |
| Deferred charges and accrued income | 490/1 | €1,245 | €1,111 | -€134 | -10.8% |
| Total equity and liabilities | 10/49 | €184,983 | €40,321 | -€144,662 | -78.2% |
| Equity | 10/15 | -€75,297 | -€47,866 | +€27,431 | +36.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,757 | -€68,326 | +€27,431 | +28.6% |
| Amounts payable | 17/49 | €260,280 | €88,187 | -€172,093 | -66.1% |
| Amounts payable after more than one year | 17 | €209,382 | €51,776 | -€157,606 | -75.3% |
| Financial debts | 170/4 | €209,382 | €51,776 | -€157,606 | -75.3% |
| Amounts payable within one year | 42/48 | €50,898 | €36,411 | -€14,487 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €8,706 | - | -€8,706 | |
| Trade debts | 44 | €8,616 | €6,084 | -€2,532 | -29.4% |
| Suppliers | 440/4 | €8,616 | €6,084 | -€2,532 | -29.4% |
| Taxes, remuneration and social security | 45 | €0 | €2,153 | +€2,153 | |
| Taxes | 450/3 | €0 | €2,153 | +€2,153 | |
| Other amounts payable | 47/48 | €33,577 | €28,175 | -€5,402 | -16.1% |
| Remuneration, social security and pensions | 62 | -€7 | - | +€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,513 | €11,577 | -€8,936 | -43.6% |
| Other operating charges | 640/8 | €2,037 | €1,971 | -€66 | -3.2% |
| Gross operating margin | 9900 | €317 | €39,412 | +€39,095 | +12,318% |
| Operating profit (loss) | 9901 | -€22,226 | €25,864 | +€48,090 | |
| Financial income | 75/76B | €2 | €1,773 | +€1,772 | +114,303% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -98.1% |
| Non-recurring financial income | 76B | - | €1,773 | +€1,773 | |
| Financial charges | 65/66B | €6,698 | €206 | -€6,492 | -96.9% |
| Recurring financial charges | 65 | €6,698 | €206 | -€6,492 | -96.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,922 | €27,431 | +€56,353 | |
| Income taxes | 67/77 | €168 | - | -€168 | |
| Profit (loss) for the period | 9904 | -€29,091 | €27,431 | +€56,522 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,091 | €27,431 | +€56,522 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.