WALTZ: 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.
WALTZ
Largest movements
- Receivables within one year +€52,816
up €52,816 (+14.8%), from €355,988 to €408,804
of which Trade receivables: +€43,689
- Deferred charges and accrued income +€21,021
up €21,021 (+188%), from €11,197 to €32,218
- Cash -€11,299
down €11,299 (-30.3%), from €37,300 to €26,001
mainly Receivables within one year (-€52,816) and Debts after one year (-€33,092)
- Reserves +€110,561
up €110,561 (+15.2%), from €726,022 to €836,583
of which Distributable reserves: +€110,561
- Debts after one year -€33,092
down €33,092 (-100%), from €33,092 to €0
- Other debts -€24,470
down €24,470 (-100%), from €24,470 to €0
- Depreciation -€15,020
down €15,020 (-38.1%), from €39,402 to €24,383
- Financial income +€10,888
up €10,888 (+107%), from €10,143 to €21,031
- Taxes +€6,549
up €6,549 (+14.0%), from €46,929 to €53,478
- Gross operating margin -€4,353
down €4,353 (-2.2%), from €200,633 to €196,280
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €893,822 | €947,615 | +€53,794 | +6.0% |
| Fixed assets | 21/28 | €194,337 | €185,593 | -€8,744 | -4.5% |
| Tangible fixed assets | 22/27 | €194,337 | €185,593 | -€8,744 | -4.5% |
| Land and buildings | 22 | €176,263 | €173,478 | -€2,786 | -1.6% |
| Plant, machinery and equipment | 23 | €611 | €212 | -€399 | -65.3% |
| Furniture and vehicles | 24 | €17,462 | €11,903 | -€5,559 | -31.8% |
| Current assets | 29/58 | €699,485 | €762,022 | +€62,537 | +8.9% |
| Amounts receivable after more than one year | 29 | €295,000 | €295,000 | = | 0.0% |
| Other amounts receivable | 291 | €295,000 | €295,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €355,988 | €408,804 | +€52,816 | +14.8% |
| Trade receivables | 40 | €355,425 | €399,114 | +€43,689 | +12.3% |
| Other amounts receivable | 41 | €563 | €9,690 | +€9,127 | +1,622% |
| Cash at bank and in hand | 54/58 | €37,300 | €26,001 | -€11,299 | -30.3% |
| Deferred charges and accrued income | 490/1 | €11,197 | €32,218 | +€21,021 | +188% |
| Total equity and liabilities | 10/49 | €893,822 | €947,615 | +€53,794 | +6.0% |
| Equity | 10/15 | €744,614 | €855,175 | +€110,561 | +14.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €726,022 | €836,583 | +€110,561 | +15.2% |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €620,772 | €731,333 | +€110,561 | +17.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €149,207 | €92,440 | -€56,767 | -38.0% |
| Amounts payable after more than one year | 17 | €33,092 | €0 | -€33,092 | -100% |
| Financial debts | 170/4 | €33,092 | €0 | -€33,092 | -100% |
| Amounts payable within one year | 42/48 | €115,245 | €91,570 | -€23,675 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | €51,164 | €56,679 | +€5,516 | +10.8% |
| Financial debts | 43 | €2,934 | €4,876 | +€1,942 | +66.2% |
| Credit institutions | 430/8 | €2,934 | €4,876 | +€1,942 | +66.2% |
| Trade debts | 44 | €1,454 | €2,172 | +€718 | +49.4% |
| Suppliers | 440/4 | €1,454 | €2,172 | +€718 | +49.4% |
| Taxes, remuneration and social security | 45 | €35,224 | €27,843 | -€7,381 | -21.0% |
| Taxes | 450/3 | €33,024 | €27,843 | -€5,181 | -15.7% |
| Remuneration and social security | 454/9 | €2,200 | €0 | -€2,200 | -100% |
| Other amounts payable | 47/48 | €24,470 | €0 | -€24,470 | -100% |
| Accrued charges and deferred income | 492/3 | €870 | €870 | = | 0.0% |
| Remuneration, social security and pensions | 62 | -€17 | €0 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,402 | €24,383 | -€15,020 | -38.1% |
| Other operating charges | 640/8 | €27,158 | €27,182 | +€24 | +0.1% |
| Gross operating margin | 9900 | €200,633 | €196,280 | -€4,353 | -2.2% |
| Operating profit (loss) | 9901 | €134,090 | €144,715 | +€10,626 | +7.9% |
| Financial income | 75/76B | €10,143 | €21,031 | +€10,888 | +107% |
| Recurring financial income | 75 | €10,143 | €21,031 | +€10,888 | +107% |
| Financial charges | 65/66B | €1,635 | €1,708 | +€73 | +4.4% |
| Recurring financial charges | 65 | €1,635 | €1,708 | +€73 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €142,598 | €164,039 | +€21,441 | +15.0% |
| Income taxes | 67/77 | €46,929 | €53,478 | +€6,549 | +14.0% |
| Profit (loss) for the period | 9904 | €95,668 | €110,561 | +€14,893 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €95,668 | €110,561 | +€14,893 | +15.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.