Walter Drossaert: 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 Drossaert
Largest movements
- Tangible fixed assets -€66,420
down €66,420 (-9.4%), from €705,407 to €638,987
of which Land and buildings: -€44,427
- Cash +€38,247
up €38,247 (+36.5%), from €104,829 to €143,075
mainly Depreciation (+€58,670) and Receivables within one year (+€13,079)
- Receivables within one year -€13,079
down €13,079 (-65.5%), from €19,957 to €6,878
of which Other amounts receivable: -€18,170
- Profit (loss) carried forward -€27,249
down €27,249 (-58.3%), from -€46,756 to -€74,006
- Debts after one year -€19,190
down €19,190 (-6.5%), from €294,158 to €274,968
- Gross operating margin +€15,649
up €15,649 (+87.3%), from €17,927 to €33,576
- Depreciation -€6,008
down €6,008 (-9.3%), from €64,678 to €58,670
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 | €833,685 | €789,130 | -€44,555 | -5.3% |
| Fixed assets | 21/28 | €705,407 | €638,987 | -€66,420 | -9.4% |
| Tangible fixed assets | 22/27 | €705,407 | €638,987 | -€66,420 | -9.4% |
| Land and buildings | 22 | €677,862 | €633,435 | -€44,427 | -6.6% |
| Furniture and vehicles | 24 | €20,301 | €5,552 | -€14,749 | -72.7% |
| Other tangible fixed assets | 26 | €7,244 | - | -€7,244 | |
| Current assets | 29/58 | €128,278 | €150,143 | +€21,865 | +17.0% |
| Amounts receivable within one year | 40/41 | €19,957 | €6,878 | -€13,079 | -65.5% |
| Trade receivables | 40 | €1,602 | €6,693 | +€5,091 | +318% |
| Other amounts receivable | 41 | €18,355 | €185 | -€18,170 | -99.0% |
| Cash at bank and in hand | 54/58 | €104,829 | €143,075 | +€38,247 | +36.5% |
| Deferred charges and accrued income | 490/1 | €3,492 | €189 | -€3,302 | -94.6% |
| Total equity and liabilities | 10/49 | €833,685 | €789,130 | -€44,555 | -5.3% |
| Equity | 10/15 | €534,595 | €507,345 | -€27,249 | -5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €575,151 | €575,151 | = | 0.0% |
| Distributable reserves | 133 | €575,151 | €575,151 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,756 | -€74,006 | -€27,249 | -58.3% |
| Amounts payable | 17/49 | €299,090 | €281,785 | -€17,306 | -5.8% |
| Amounts payable after more than one year | 17 | €294,158 | €274,968 | -€19,190 | -6.5% |
| Other amounts payable | 178/9 | €294,158 | €274,968 | -€19,190 | -6.5% |
| Amounts payable within one year | 42/48 | €3,391 | €4,405 | +€1,014 | +29.9% |
| Trade debts | 44 | €3,118 | €3,779 | +€662 | +21.2% |
| Suppliers | 440/4 | €3,118 | €3,779 | +€662 | +21.2% |
| Taxes, remuneration and social security | 45 | €274 | €626 | +€352 | +129% |
| Taxes | 450/3 | €274 | €626 | +€352 | +129% |
| Accrued charges and deferred income | 492/3 | €1,541 | €2,411 | +€870 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,678 | €58,670 | -€6,008 | -9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,017 | -€7,017 | = | 0.0% |
| Other operating charges | 640/8 | €7,993 | €8,243 | +€250 | +3.1% |
| Gross operating margin | 9900 | €17,927 | €33,576 | +€15,649 | +87.3% |
| Operating profit (loss) | 9901 | -€47,727 | -€26,320 | +€21,407 | +44.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €107 | €114 | +€8 | +7.1% |
| Recurring financial charges | 65 | €107 | €114 | +€8 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | -€47,834 | -€26,434 | +€21,399 | +44.7% |
| Income taxes | 67/77 | €783 | €815 | +€32 | +4.1% |
| Profit (loss) for the period | 9904 | -€48,616 | -€27,249 | +€21,367 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,616 | -€27,249 | +€21,367 | +44.0% |
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 24 October 2026 via checked.be.