WALVIC: 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.
WALVIC
Largest movements
- Cash -€8,480
down €8,480 (-15.5%), from €54,603 to €46,122
mainly Other debts (-€28,249) and Debts after one year (-€5,640)
- Stocks and contracts -€5,065
down €5,065 (-8.5%), from €59,604 to €54,539
- Tangible fixed assets -€2,716
down €2,716 (-12.3%), from €22,057 to €19,341
of which Furniture and vehicles: -€3,573
- Deferred charges and accrued income -€1,921
down €1,921 (-83.5%), from €2,301 to €381
- Other debts -€28,249
down €28,249 (-82.8%), from €34,135 to €5,886
- Reserves +€19,552
up €19,552 (+60.5%), from €32,333 to €51,886
- Debts after one year -€5,640
down €5,640 (-40.1%), from €14,075 to €8,435
- Trade debts -€2,676
down €2,676 (-51.7%), from €5,176 to €2,501
- Write-downs -€215,564
down €215,564, from €107,782 to -€107,782
- Gross operating margin -€207,439
down €207,439, from €182,572 to -€24,868
- Staff costs +€19,068
up €19,068 (+89.6%), from €21,278 to €40,346
- Taxes -€4,277
down €4,277 (-32.7%), from €13,095 to €8,818
- Depreciation +€2,702
up €2,702 (+92.0%), from €2,938 to €5,640
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 | €138,793 | €121,931 | -€16,862 | -12.1% |
| Fixed assets | 21/28 | €22,262 | €19,546 | -€2,716 | -12.2% |
| Tangible fixed assets | 22/27 | €22,057 | €19,341 | -€2,716 | -12.3% |
| Plant, machinery and equipment | 23 | - | €857 | +€857 | |
| Furniture and vehicles | 24 | €22,057 | €18,484 | -€3,573 | -16.2% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €116,531 | €102,385 | -€14,146 | -12.1% |
| Stocks and contracts in progress | 3 | €59,604 | €54,539 | -€5,065 | -8.5% |
| Stocks | 30/36 | €59,604 | €54,539 | -€5,065 | -8.5% |
| Amounts receivable within one year | 40/41 | €23 | €1,343 | +€1,320 | +5708.9% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €23 | €1,343 | +€1,320 | +5708.9% |
| Cash at bank and in hand | 54/58 | €54,603 | €46,122 | -€8,480 | -15.5% |
| Deferred charges and accrued income | 490/1 | €2,301 | €381 | -€1,921 | -83.5% |
| Total equity and liabilities | 10/49 | €138,793 | €121,931 | -€16,862 | -12.1% |
| Equity | 10/15 | €52,333 | €71,886 | +€19,552 | +37.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €32,333 | €51,886 | +€19,552 | +60.5% |
| Distributable reserves | 133 | €32,333 | €51,886 | +€19,552 | +60.5% |
| Amounts payable | 17/49 | €86,459 | €50,045 | -€36,414 | -42.1% |
| Amounts payable after more than one year | 17 | €14,075 | €8,435 | -€5,640 | -40.1% |
| Financial debts | 170/4 | €14,075 | €8,435 | -€5,640 | -40.1% |
| Amounts payable within one year | 42/48 | €72,385 | €41,610 | -€30,774 | -42.5% |
| Current portion of amounts payable after more than one year | 42 | €5,393 | €5,640 | +€247 | +4.6% |
| Trade debts | 44 | €5,176 | €2,501 | -€2,676 | -51.7% |
| Suppliers | 440/4 | €5,176 | €2,501 | -€2,676 | -51.7% |
| Taxes, remuneration and social security | 45 | €27,680 | €27,584 | -€97 | -0.3% |
| Taxes | 450/3 | €24,648 | €20,315 | -€4,333 | -17.6% |
| Remuneration and social security | 454/9 | €3,032 | €7,269 | +€4,236 | +139.7% |
| Other amounts payable | 47/48 | €34,135 | €5,886 | -€28,249 | -82.8% |
| Remuneration, social security and pensions | 62 | €21,278 | €40,346 | +€19,068 | +89.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,938 | €5,640 | +€2,702 | +92.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €107,782 | -€107,782 | -€215,564 | |
| Other operating charges | 640/8 | €3,095 | €3,307 | +€212 | +6.9% |
| Non-recurring operating charges | 66A | - | €3,337 | +€3,337 | |
| Gross operating margin | 9900 | €182,572 | -€24,868 | -€207,439 | |
| Operating profit (loss) | 9901 | €47,479 | €30,284 | -€17,194 | -36.2% |
| Financial income | 75/76B | €55 | €141 | +€85 | +154.9% |
| Recurring financial income | 75 | €55 | €141 | +€85 | +154.9% |
| Financial charges | 65/66B | €1,202 | €1,177 | -€24 | -2.0% |
| Recurring financial charges | 65 | €1,202 | €1,177 | -€24 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €46,332 | €29,248 | -€17,085 | -36.9% |
| Income taxes | 67/77 | €13,095 | €8,818 | -€4,277 | -32.7% |
| Profit (loss) for the period | 9904 | €33,237 | €20,429 | -€12,808 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,237 | €20,429 | -€12,808 | -38.5% |
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.