WALVERT ESTINNES: 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.
WALVERT ESTINNES
Largest movements
- Tangible fixed assets +€2.6m
up €2.6m (+467.9%), from €547,287 to €3.1m
of which Assets under construction and advance payments: +€2.6m
- Receivables within one year +€2.0m
up €2.0m (+946.9%), from €206,589 to €2.2m
- Intangible fixed assets +€590,000
up €590,000 (+83.1%), from €710,000 to €1.3m
- Stocks and contracts +€404,010
new in 2024: €404,010
- Debts after one year +€4.3m
up €4.3m (+406.8%), from €1.1m to €5.3m
- Trade debts +€1.4m
up €1.4m (+665.1%), from €207,751 to €1.6m
- Profit (loss) carried forward -€264,809
down €264,809 (-194.5%), from -€136,172 to -€400,981
- Current portion of long-term debt +€239,845
up €239,845 (+3276.6%), from €7,320 to €247,165
- Accrued charges and deferred income -€134,860
no longer reported in 2024 (was €134,860)
- Financial charges +€143,321
up €143,321 (+96.4%), from €148,716 to €292,037
- Financial income +€63,869
up €63,869 (+340.9%), from €18,736 to €82,605
- Gross operating margin -€49,452
down €49,452 (-884.8%), from -€5,589 to -€55,041
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.
Cash bridge derived
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 | €1,565,702 | €7,064,135 | +€5.5m | +351.2% |
| Formation expenses | 20 | €79,486 | €76,096 | -€3,390 | -4.3% |
| Fixed assets | 21/28 | €1,257,287 | €4,407,995 | +€3.2m | +250.6% |
| Intangible fixed assets | 21 | €710,000 | €1,300,000 | +€590,000 | +83.1% |
| Tangible fixed assets | 22/27 | €547,287 | €3,107,995 | +€2.6m | +467.9% |
| Land and buildings | 22 | €149,711 | €149,711 | = | 0.0% |
| Assets under construction and advance payments | 27 | €397,576 | €2,958,284 | +€2.6m | +644.1% |
| Current assets | 29/58 | €228,929 | €2,580,044 | +€2.4m | +1027.0% |
| Stocks and contracts in progress | 3 | - | €404,010 | +€404,010 | |
| Stocks | 30/36 | - | €404,010 | +€404,010 | |
| Amounts receivable within one year | 40/41 | €206,589 | €2,162,713 | +€2.0m | +946.9% |
| Other amounts receivable | 41 | €206,589 | €2,162,713 | +€2.0m | +946.9% |
| Cash at bank and in hand | 54/58 | €1,963 | €4,458 | +€2,495 | +127.1% |
| Deferred charges and accrued income | 490/1 | €20,377 | €8,863 | -€11,514 | -56.5% |
| Total equity and liabilities | 10/49 | €1,565,702 | €7,064,135 | +€5.5m | +351.2% |
| Equity | 10/15 | €163,828 | -€100,981 | -€264,809 | |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,172 | -€400,981 | -€264,809 | -194.5% |
| Amounts payable | 17/49 | €1,401,874 | €7,165,116 | +€5.8m | +411.1% |
| Amounts payable after more than one year | 17 | €1,050,000 | €5,321,297 | +€4.3m | +406.8% |
| Financial debts | 170/4 | €1,050,000 | €5,321,297 | +€4.3m | +406.8% |
| Amounts payable within one year | 42/48 | €217,014 | €1,843,819 | +€1.6m | +749.6% |
| Current portion of amounts payable after more than one year | 42 | €7,320 | €247,165 | +€239,845 | +3276.6% |
| Trade debts | 44 | €207,751 | €1,589,429 | +€1.4m | +665.1% |
| Suppliers | 440/4 | €207,751 | €1,589,429 | +€1.4m | +665.1% |
| Taxes, remuneration and social security | 45 | €1,943 | €7,225 | +€5,282 | +271.8% |
| Taxes | 450/3 | €1,943 | €7,225 | +€5,282 | +271.8% |
| Accrued charges and deferred income | 492/3 | €134,860 | - | -€134,860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €603 | €336 | -€267 | -44.3% |
| Gross operating margin | 9900 | -€5,589 | -€55,041 | -€49,452 | -884.8% |
| Operating profit (loss) | 9901 | -€6,192 | -€55,377 | -€49,185 | -794.3% |
| Financial income | 75/76B | €18,736 | €82,605 | +€63,869 | +340.9% |
| Recurring financial income | 75 | €18,736 | €82,605 | +€63,869 | +340.9% |
| Financial charges | 65/66B | €148,716 | €292,037 | +€143,321 | +96.4% |
| Recurring financial charges | 65 | €148,716 | €292,037 | +€143,321 | +96.4% |
| Profit (loss) for the period before taxes | 9903 | -€136,172 | -€264,809 | -€128,637 | -94.5% |
| Profit (loss) for the period | 9904 | -€136,172 | -€264,809 | -€128,637 | -94.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€136,172 | -€264,809 | -€128,637 | -94.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.