Walter werkt: what changed
Walter werkt
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+95.3%), from €1.3m to €2.6m
of which Land and buildings: +€1.2m
- Receivables within one year +€175,147
up €175,147 (+156%), from €112,540 to €287,686
of which Other amounts receivable: +€175,641
- Cash -€42,715
down €42,715 (-59.8%), from €71,451 to €28,737
mainly Investment in fixed assets (net) (-€1.3m) and Receivables within one year (-€175,147)
- Debts after one year +€688,306
up €688,306 (+88.1%), from €780,945 to €1.5m
- Debts within one year +€441,312
up €441,312 (+354%), from €124,657 to €565,969
of which Current portion of long-term debt: +€319,168
- Accrued charges and deferred income +€284,600
up €284,600 (+55.0%), from €517,855 to €802,455
- Staff costs +€33,966
up €33,966 (+48.3%), from €70,269 to €104,236
- Gross operating margin +€27,511
up €27,511 (+18.9%), from €145,755 to €173,267
- Financial charges +€20,743
up €20,743 (+161%), from €12,895 to €33,638
- Depreciation +€8,783
up €8,783 (+27.9%), from €31,474 to €40,257
- Other operating charges +€8,213
up €8,213 (+418%), from €1,964 to €10,176
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,503,480 | €2,902,659 | +€1.4m | +93.1% |
| Fixed assets | 21/28 | €1,317,538 | €2,579,662 | +€1.3m | +95.8% |
| Intangible fixed assets | 21 | - | €6,968 | +€6,968 | |
| Tangible fixed assets | 22/27 | €1,317,038 | €2,572,194 | +€1.3m | +95.3% |
| Land and buildings | 22 | €1,316,635 | €2,504,370 | +€1.2m | +90.2% |
| Plant, machinery and equipment | 23 | €0 | €66,914 | +€66,914 | |
| Furniture and vehicles | 24 | €403 | €909 | +€506 | +125% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €185,942 | €322,997 | +€137,055 | +73.7% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €112,540 | €287,686 | +€175,147 | +156% |
| Trade receivables | 40 | €4,386 | €3,892 | -€494 | -11.3% |
| Other amounts receivable | 41 | €108,154 | €283,794 | +€175,641 | +162% |
| Cash at bank and in hand | 54/58 | €71,451 | €28,737 | -€42,715 | -59.8% |
| Deferred charges and accrued income | 490/1 | €951 | €5,574 | +€4,623 | +486% |
| Total equity and liabilities | 10/49 | €1,503,480 | €2,902,659 | +€1.4m | +93.1% |
| Equity | 10/15 | €80,023 | €64,984 | -€15,039 | -18.8% |
| Profit (loss) carried forward | 14 | €80,023 | €64,984 | -€15,039 | -18.8% |
| Amounts payable | 17/49 | €1,423,457 | €2,837,674 | +€1.4m | +99.4% |
| Amounts payable after more than one year | 17 | €780,945 | €1,469,251 | +€688,306 | +88.1% |
| Financial debts | 170/4 | €780,945 | €1,469,251 | +€688,306 | +88.1% |
| Amounts payable within one year | 42/48 | €124,657 | €565,969 | +€441,312 | +354% |
| Current portion of amounts payable after more than one year | 42 | €36,782 | €355,950 | +€319,168 | +868% |
| Trade debts | 44 | €30,013 | €145,341 | +€115,328 | +384% |
| Suppliers | 440/4 | €30,013 | €145,341 | +€115,328 | +384% |
| Taxes, remuneration and social security | 45 | €7,000 | €18,828 | +€11,828 | +169% |
| Taxes | 450/3 | - | €3,049 | +€3,049 | |
| Remuneration and social security | 454/9 | €7,000 | €15,779 | +€8,779 | +125% |
| Accrued charges and deferred income | 492/3 | €517,855 | €802,455 | +€284,600 | +55.0% |
| Non-recurring operating income | 76A | €213 | €0 | -€213 | -100% |
| Remuneration, social security and pensions | 62 | €70,269 | €104,236 | +€33,966 | +48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,474 | €40,257 | +€8,783 | +27.9% |
| Other operating charges | 640/8 | €1,964 | €10,176 | +€8,213 | +418% |
| Gross operating margin | 9900 | €145,755 | €173,267 | +€27,511 | +18.9% |
| Operating profit (loss) | 9901 | €42,049 | €18,598 | -€23,451 | -55.8% |
| Financial income | 75/76B | €448 | €2 | -€446 | -99.6% |
| Recurring financial income | 75 | €448 | €2 | -€446 | -99.6% |
| Financial charges | 65/66B | €12,895 | €33,638 | +€20,743 | +161% |
| Recurring financial charges | 65 | €12,895 | €33,638 | +€20,743 | +161% |
| Profit (loss) for the period before taxes | 9903 | €29,602 | -€15,039 | -€44,641 | |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | €29,602 | -€15,039 | -€44,641 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,602 | -€15,039 | -€44,641 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.