WALTHECO: what changed
Two fiscal 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.
WALTHECO
Largest movements
- Cash -€39,560
down €39,560 (-68.2%), from €57,978 to €18,418
mainly Tax, wage and social debts (-€13,848) and Current investments (-€13,200)
- Current investments +€13,200
up €13,200 (+5.4%), from €244,563 to €257,763
- Tax, wage and social debts -€13,848
down €13,848 (-66.9%), from €20,704 to €6,857
of which Remuneration and social security: -€9,960
- Profit (loss) carried forward -€7,799
down €7,799 (-8.9%), from €87,974 to €80,176
- Gross operating margin +€17,497
up €17,497 (+79.1%), from -€22,125 to -€4,629
- Depreciation +€562
up €562 (+54.6%), from €1,030 to €1,592
- Financial income -€526
down €526 (-94.4%), from €558 to €31
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 | €370,669 | €345,752 | -€24,917 | -6.7% |
| Fixed assets | 21/28 | €2,802 | €5,842 | +€3,040 | +108.5% |
| Tangible fixed assets | 22/27 | €2,802 | €5,842 | +€3,040 | +108.5% |
| Furniture and vehicles | 24 | €2,802 | €5,842 | +€3,040 | +108.5% |
| Current assets | 29/58 | €367,867 | €339,911 | -€27,957 | -7.6% |
| Amounts receivable within one year | 40/41 | €58,802 | €58,145 | -€657 | -1.1% |
| Trade receivables | 40 | €49,467 | €48,777 | -€690 | -1.4% |
| Other amounts receivable | 41 | €9,334 | €9,367 | +€33 | +0.4% |
| Current investments | 50/53 | €244,563 | €257,763 | +€13,200 | +5.4% |
| Cash at bank and in hand | 54/58 | €57,978 | €18,418 | -€39,560 | -68.2% |
| Deferred charges and accrued income | 490/1 | €6,524 | €5,585 | -€939 | -14.4% |
| Total equity and liabilities | 10/49 | €370,669 | €345,752 | -€24,917 | -6.7% |
| Equity | 10/15 | €339,948 | €332,149 | -€7,799 | -2.3% |
| Contributions | 10/11 | €143,155 | €143,155 | = | 0.0% |
| Reserves | 13 | €108,818 | €108,818 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,154 | €13,154 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,154 | €13,154 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,400 | €4,400 | = | 0.0% |
| Distributable reserves | 133 | €91,264 | €91,264 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,974 | €80,176 | -€7,799 | -8.9% |
| Amounts payable | 17/49 | €30,721 | €13,603 | -€17,118 | -55.7% |
| Amounts payable within one year | 42/48 | €29,579 | €12,461 | -€17,118 | -57.9% |
| Trade debts | 44 | €5,181 | €1,910 | -€3,270 | -63.1% |
| Suppliers | 440/4 | €5,181 | €1,910 | -€3,270 | -63.1% |
| Advances received on contracts in progress | 46 | €3,694 | €3,694 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €20,704 | €6,857 | -€13,848 | -66.9% |
| Taxes | 450/3 | €5,764 | €1,877 | -€3,888 | -67.4% |
| Remuneration and social security | 454/9 | €14,940 | €4,980 | -€9,960 | -66.7% |
| Accrued charges and deferred income | 492/3 | €1,142 | €1,142 | = | 0.0% |
| Non-recurring operating income | 76A | €25,339 | - | -€25,339 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,030 | €1,592 | +€562 | +54.6% |
| Other operating charges | 640/8 | €992 | €1,046 | +€55 | +5.5% |
| Gross operating margin | 9900 | -€22,125 | -€4,629 | +€17,497 | +79.1% |
| Operating profit (loss) | 9901 | -€24,147 | -€7,267 | +€16,880 | +69.9% |
| Financial income | 75/76B | €558 | €31 | -€526 | -94.4% |
| Recurring financial income | 75 | €558 | €31 | -€526 | -94.4% |
| Financial charges | 65/66B | €169 | €361 | +€192 | +113.6% |
| Recurring financial charges | 65 | €169 | €361 | +€192 | +113.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,758 | -€7,596 | +€16,162 | +68.0% |
| Income taxes | 67/77 | €183 | €203 | +€20 | +11.1% |
| Profit (loss) for the period | 9904 | -€23,940 | -€7,799 | +€16,141 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,940 | -€7,799 | +€16,141 | +67.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.