WALTZING MATILDA: 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.
WALTZING MATILDA
Largest movements
- Tangible fixed assets -€9,589
down €9,589 (-33.8%), from €28,356 to €18,766
of which Leasing and similar rights: -€16,755
- Receivables within one year -€5,509
down €5,509 (-36.0%), from €15,320 to €9,811
of which Other amounts receivable: -€3,797
- Trade debts -€11,614
down €11,614 (-79.9%), from €14,539 to €2,925
- Current portion of long-term debt -€9,352
no longer reported in 2025 (was €9,352)
- Other debts +€4,763
up €4,763 (+16.9%), from €28,228 to €32,991
- Reserves +€1,259
up €1,259 (+51.3%), from €2,452 to €3,711
- Tax, wage and social debts -€838
down €838 (-15.0%), from €5,604 to €4,766
- Depreciation +€520
up €520 (+4.2%), from €12,305 to €12,825
- Taxes -€203
down €203 (-17.0%), from €1,192 to €989
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 | €62,676 | €46,893 | -€15,783 | -25.2% |
| Fixed assets | 21/28 | €28,356 | €18,766 | -€9,589 | -33.8% |
| Tangible fixed assets | 22/27 | €28,356 | €18,766 | -€9,589 | -33.8% |
| Furniture and vehicles | 24 | €5,165 | €13,151 | +€7,986 | +155% |
| Leasing and similar rights | 25 | €16,755 | - | -€16,755 | |
| Other tangible fixed assets | 26 | €6,436 | €5,616 | -€820 | -12.7% |
| Current assets | 29/58 | €34,320 | €28,127 | -€6,193 | -18.0% |
| Stocks and contracts in progress | 3 | €1,515 | €1,497 | -€18 | -1.2% |
| Stocks | 30/36 | €1,515 | €1,497 | -€18 | -1.2% |
| Amounts receivable within one year | 40/41 | €15,320 | €9,811 | -€5,509 | -36.0% |
| Trade receivables | 40 | €10,512 | €8,800 | -€1,712 | -16.3% |
| Other amounts receivable | 41 | €4,808 | €1,011 | -€3,797 | -79.0% |
| Cash at bank and in hand | 54/58 | €16,049 | €15,677 | -€372 | -2.3% |
| Deferred charges and accrued income | 490/1 | €1,436 | €1,142 | -€294 | -20.5% |
| Total equity and liabilities | 10/49 | €62,676 | €46,893 | -€15,783 | -25.2% |
| Equity | 10/15 | €4,952 | €6,211 | +€1,259 | +25.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €2,452 | €3,711 | +€1,259 | +51.3% |
| Distributable reserves | 133 | €2,452 | €3,711 | +€1,259 | +51.3% |
| Amounts payable | 17/49 | €57,723 | €40,682 | -€17,042 | -29.5% |
| Amounts payable within one year | 42/48 | €57,723 | €40,682 | -€17,042 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | €9,352 | - | -€9,352 | |
| Trade debts | 44 | €14,539 | €2,925 | -€11,614 | -79.9% |
| Suppliers | 440/4 | €14,539 | €2,925 | -€11,614 | -79.9% |
| Taxes, remuneration and social security | 45 | €5,604 | €4,766 | -€838 | -15.0% |
| Taxes | 450/3 | €5,604 | €4,766 | -€838 | -15.0% |
| Other amounts payable | 47/48 | €28,228 | €32,991 | +€4,763 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,305 | €12,825 | +€520 | +4.2% |
| Other operating charges | 640/8 | €1,132 | €1,227 | +€95 | +8.4% |
| Gross operating margin | 9900 | €17,355 | €17,291 | -€63 | -0.4% |
| Operating profit (loss) | 9901 | €3,917 | €3,239 | -€679 | -17.3% |
| Financial income | 75/76B | €74 | €20 | -€54 | -72.8% |
| Recurring financial income | 75 | €74 | €20 | -€54 | -72.8% |
| Financial charges | 65/66B | €348 | €178 | -€170 | -48.8% |
| Recurring financial charges | 65 | €348 | €178 | -€170 | -48.8% |
| Profit (loss) for the period before taxes | 9903 | €3,643 | €3,081 | -€562 | -15.4% |
| Income taxes | 67/77 | €1,192 | €989 | -€203 | -17.0% |
| Profit (loss) for the period | 9904 | €2,452 | €2,092 | -€360 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,452 | €2,092 | -€360 | -14.7% |
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 23 October 2026 via checked.be.