WALZEKER: 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.
WALZEKER
Largest movements
- Tangible fixed assets -€17,859
down €17,859 (-3.1%), from €569,867 to €552,008
of which Land and buildings: -€24,139
- Other debts -€20,319
down €20,319 (-12.7%), from €160,000 to €139,681
- Profit (loss) carried forward +€12,979
up €12,979 (+29.9%), from -€43,434 to -€30,455
- Accrued charges and deferred income -€9,600
down €9,600 (-45.3%), from €21,200 to €11,600
- Gross operating margin +€16,784
up €16,784 (+55.9%), from €30,009 to €46,792
- Depreciation -€7,254
down €7,254 (-19.9%), from €36,486 to €29,233
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 | €571,458 | €554,518 | -€16,940 | -3.0% |
| Fixed assets | 21/28 | €569,867 | €552,008 | -€17,859 | -3.1% |
| Tangible fixed assets | 22/27 | €569,867 | €552,008 | -€17,859 | -3.1% |
| Land and buildings | 22 | €562,425 | €538,287 | -€24,139 | -4.3% |
| Plant, machinery and equipment | 23 | €4,178 | €12,532 | +€8,354 | +200.0% |
| Furniture and vehicles | 24 | €3,264 | €1,190 | -€2,074 | -63.5% |
| Current assets | 29/58 | €1,591 | €2,510 | +€919 | +57.8% |
| Cash at bank and in hand | 54/58 | €1,591 | €2,510 | +€919 | +57.8% |
| Total equity and liabilities | 10/49 | €571,458 | €554,518 | -€16,940 | -3.0% |
| Equity | 10/15 | €306,239 | €319,218 | +€12,979 | +4.2% |
| Contributions | 10/11 | €318,961 | €318,961 | = | 0.0% |
| Reserves | 13 | €30,712 | €30,712 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,600 | €10,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,600 | €10,600 | = | 0.0% |
| Distributable reserves | 133 | €20,112 | €20,112 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,434 | -€30,455 | +€12,979 | +29.9% |
| Amounts payable | 17/49 | €265,220 | €235,301 | -€29,919 | -11.3% |
| Amounts payable after more than one year | 17 | €83,828 | €83,828 | = | 0.0% |
| Financial debts | 170/4 | €83,828 | €83,828 | = | 0.0% |
| Amounts payable within one year | 42/48 | €160,192 | €139,873 | -€20,319 | -12.7% |
| Taxes, remuneration and social security | 45 | €192 | €192 | = | 0.0% |
| Taxes | 450/3 | €192 | €192 | = | 0.0% |
| Other amounts payable | 47/48 | €160,000 | €139,681 | -€20,319 | -12.7% |
| Accrued charges and deferred income | 492/3 | €21,200 | €11,600 | -€9,600 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,486 | €29,233 | -€7,254 | -19.9% |
| Other operating charges | 640/8 | €4,351 | €4,345 | -€5 | -0.1% |
| Gross operating margin | 9900 | €30,009 | €46,792 | +€16,784 | +55.9% |
| Operating profit (loss) | 9901 | -€10,828 | €13,214 | +€24,043 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €45 | €44 | -€1 | -2.1% |
| Recurring financial charges | 65 | €45 | €44 | -€1 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,873 | €13,171 | +€24,044 | |
| Income taxes | 67/77 | €192 | €192 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€11,065 | €12,979 | +€24,044 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,065 | €12,979 | +€24,044 |
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 9 October 2026 via checked.be.