WALTER DE WOLF: 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.
WALTER DE WOLF
Largest movements
- Cash -€258,546
down €258,546 (-37.1%), from €696,182 to €437,636
mainly Tax, wage and social debts (-€123,649) and Contributions, distributions and other (-€79,600)
- Tangible fixed assets +€54,142
up €54,142 (+99.3%), from €54,510 to €108,652
of which Furniture and vehicles: +€62,907
- Deferred charges and accrued income +€11,333
new in 2025: €11,333
- Tax, wage and social debts -€123,649
down €123,649 (-99.7%), from €124,006 to €357
- Reserves -€90,802
down €90,802 (-15.2%), from €595,929 to €505,127
of which Distributable reserves: -€54,119
- Contributions +€36,683
new in 2025: €36,683
- Other debts -€15,302
down €15,302 (-49.7%), from €30,776 to €15,473
- Gross operating margin -€392,611
down €392,611 (-90.6%), from €433,271 to €40,660
- Taxes -€105,552
down €105,552 (-85.0%), from €124,231 to €18,679
- Financial income +€22,337
up €22,337 (+4,558,498%), from €0 to €22,337
- Depreciation -€21,110
down €21,110 (-64.7%), from €32,608 to €11,497
- Staff costs -€15,273
no longer reported in 2025 (was €15,273)
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 | €750,710 | €557,639 | -€193,071 | -25.7% |
| Fixed assets | 21/28 | €54,510 | €108,670 | +€54,161 | +99.4% |
| Tangible fixed assets | 22/27 | €54,510 | €108,652 | +€54,142 | +99.3% |
| Land and buildings | 22 | €12,793 | €6,803 | -€5,990 | -46.8% |
| Plant, machinery and equipment | 23 | €41,717 | €38,942 | -€2,775 | -6.7% |
| Furniture and vehicles | 24 | €0 | €62,907 | +€62,907 | +209,690,667% |
| Financial fixed assets | 28 | - | €19 | +€19 | |
| Current assets | 29/58 | €696,200 | €448,969 | -€247,231 | -35.5% |
| Amounts receivable within one year | 40/41 | €19 | - | -€19 | |
| Other amounts receivable | 41 | €19 | - | -€19 | |
| Cash at bank and in hand | 54/58 | €696,182 | €437,636 | -€258,546 | -37.1% |
| Deferred charges and accrued income | 490/1 | - | €11,333 | +€11,333 | |
| Total equity and liabilities | 10/49 | €750,710 | €557,639 | -€193,071 | -25.7% |
| Equity | 10/15 | €595,929 | €541,810 | -€54,119 | -9.1% |
| Contributions | 10/11 | - | €36,683 | +€36,683 | |
| Reserves | 13 | €595,929 | €505,127 | -€90,802 | -15.2% |
| Non-distributable reserves | 130/1 | €36,683 | - | -€36,683 | |
| Other | 1319 | €36,683 | - | -€36,683 | |
| Distributable reserves | 133 | €559,246 | €505,127 | -€54,119 | -9.7% |
| Amounts payable | 17/49 | €154,781 | €15,830 | -€138,951 | -89.8% |
| Amounts payable within one year | 42/48 | €154,781 | €15,830 | -€138,951 | -89.8% |
| Taxes, remuneration and social security | 45 | €124,006 | €357 | -€123,649 | -99.7% |
| Taxes | 450/3 | €124,006 | €357 | -€123,649 | -99.7% |
| Other amounts payable | 47/48 | €30,776 | €15,473 | -€15,302 | -49.7% |
| Non-recurring operating income | 76A | - | €38,000 | +€38,000 | |
| Remuneration, social security and pensions | 62 | €15,273 | - | -€15,273 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,608 | €11,497 | -€21,110 | -64.7% |
| Other operating charges | 640/8 | €4,531 | €4,707 | +€176 | +3.9% |
| Gross operating margin | 9900 | €433,271 | €40,660 | -€392,611 | -90.6% |
| Operating profit (loss) | 9901 | €380,859 | €24,456 | -€356,403 | -93.6% |
| Financial income | 75/76B | €0 | €22,337 | +€22,337 | +4,558,498% |
| Recurring financial income | 75 | €0 | €22,337 | +€22,337 | +4,558,498% |
| Financial charges | 65/66B | €606 | €2,633 | +€2,027 | +334% |
| Recurring financial charges | 65 | €606 | €2,633 | +€2,027 | +334% |
| Profit (loss) for the period before taxes | 9903 | €380,253 | €44,160 | -€336,093 | -88.4% |
| Income taxes | 67/77 | €124,231 | €18,679 | -€105,552 | -85.0% |
| Profit (loss) for the period | 9904 | €256,022 | €25,481 | -€230,541 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €256,022 | €25,481 | -€230,541 | -90.0% |
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 19 October 2026 via checked.be.