WALT: 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.
WALT
Largest movements
- Receivables within one year +€118,034
up €118,034 (+136.6%), from €86,386 to €204,420
of which Other amounts receivable: +€125,601
- Tangible fixed assets -€115,624
down €115,624 (-6.9%), from €1.7m to €1.6m
of which Land and buildings: -€112,565
- Cash -€26,129
down €26,129 (-55.1%), from €47,393 to €21,264
mainly Debts after one year (-€119,511) and Receivables within one year (-€118,034)
- Debts after one year -€119,511
down €119,511 (-7.8%), from €1.5m to €1.4m
- Profit (loss) carried forward +€63,169
up €63,169 (+23.5%), from €268,403 to €331,572
- Other debts +€49,752
up €49,752, from €0 to €49,752
- Gross operating margin +€175,321
up €175,321 (+56.8%), from €308,828 to €484,149
- Other operating charges +€70,538
up €70,538 (+540.2%), from €13,059 to €83,597
- Taxes +€24,003
up €24,003 (+132.1%), from €18,177 to €42,180
- Financial charges +€9,193
up €9,193 (+16.0%), from €57,487 to €66,680
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 | €1,971,754 | €1,947,816 | -€23,938 | -1.2% |
| Fixed assets | 21/28 | €1,677,643 | €1,562,020 | -€115,624 | -6.9% |
| Tangible fixed assets | 22/27 | €1,677,643 | €1,562,020 | -€115,624 | -6.9% |
| Land and buildings | 22 | €1,664,217 | €1,551,652 | -€112,565 | -6.8% |
| Furniture and vehicles | 24 | €170 | €0 | -€170 | -100.0% |
| Other tangible fixed assets | 26 | €13,256 | €10,367 | -€2,889 | -21.8% |
| Current assets | 29/58 | €294,111 | €385,796 | +€91,685 | +31.2% |
| Amounts receivable after more than one year | 29 | €160,000 | €160,000 | = | 0.0% |
| Other amounts receivable | 291 | €160,000 | €160,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €86,386 | €204,420 | +€118,034 | +136.6% |
| Trade receivables | 40 | €29,885 | €22,317 | -€7,567 | -25.3% |
| Other amounts receivable | 41 | €56,502 | €182,103 | +€125,601 | +222.3% |
| Cash at bank and in hand | 54/58 | €47,393 | €21,264 | -€26,129 | -55.1% |
| Deferred charges and accrued income | 490/1 | €331 | €111 | -€220 | -66.3% |
| Total equity and liabilities | 10/49 | €1,971,754 | €1,947,816 | -€23,938 | -1.2% |
| Equity | 10/15 | €288,863 | €352,032 | +€63,169 | +21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €268,403 | €331,572 | +€63,169 | +23.5% |
| Amounts payable | 17/49 | €1,682,891 | €1,595,783 | -€87,107 | -5.2% |
| Amounts payable after more than one year | 17 | €1,523,946 | €1,404,435 | -€119,511 | -7.8% |
| Financial debts | 170/4 | €1,523,946 | €1,404,435 | -€119,511 | -7.8% |
| Amounts payable within one year | 42/48 | €155,456 | €191,348 | +€35,892 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €102,390 | €98,174 | -€4,216 | -4.1% |
| Financial debts | 43 | €38,673 | €30,742 | -€7,931 | -20.5% |
| Credit institutions | 430/8 | €38,673 | €30,742 | -€7,931 | -20.5% |
| Trade debts | 44 | €3,230 | €792 | -€2,438 | -75.5% |
| Suppliers | 440/4 | €3,230 | €792 | -€2,438 | -75.5% |
| Taxes, remuneration and social security | 45 | €11,164 | €11,889 | +€725 | +6.5% |
| Taxes | 450/3 | €7,414 | €7,139 | -€275 | -3.7% |
| Remuneration and social security | 454/9 | €3,750 | €4,750 | +€1,000 | +26.7% |
| Other amounts payable | 47/48 | €0 | €49,752 | +€49,752 | |
| Accrued charges and deferred income | 492/3 | €3,488 | €0 | -€3,488 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,040 | €168,124 | +€84 | 0.0% |
| Other operating charges | 640/8 | €13,059 | €83,597 | +€70,538 | +540.2% |
| Gross operating margin | 9900 | €308,828 | €484,149 | +€175,321 | +56.8% |
| Operating profit (loss) | 9901 | €127,729 | €232,429 | +€104,700 | +82.0% |
| Financial income | 75/76B | €9,600 | €9,601 | +€0 | 0.0% |
| Recurring financial income | 75 | €9,600 | €9,601 | +€0 | 0.0% |
| Financial charges | 65/66B | €57,487 | €66,680 | +€9,193 | +16.0% |
| Recurring financial charges | 65 | €57,487 | €66,680 | +€9,193 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €79,843 | €175,349 | +€95,507 | +119.6% |
| Income taxes | 67/77 | €18,177 | €42,180 | +€24,003 | +132.1% |
| Profit (loss) for the period | 9904 | €61,666 | €133,169 | +€71,503 | +116.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,666 | €133,169 | +€71,503 | +116.0% |
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 12 October 2026 via checked.be.