We Walk: 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.
We Walk
Largest movements
- Cash +€42,117
up €42,117 (+25.2%), from €167,223 to €209,340
mainly Net result for the year (+€43,377) and Depreciation (+€5,522)
- Tangible fixed assets -€4,379
down €4,379 (-15.8%), from €27,803 to €23,424
of which Furniture and vehicles: -€3,827
- Reserves +€33,548
up €33,548 (+12.5%), from €269,096 to €302,644
- Financial income -€97,927
down €97,927 (-72.6%), from €134,916 to €36,989
- Gross operating margin +€13,243
up €13,243 (+98.6%), from €13,428 to €26,671
- Taxes -€6,002
down €6,002 (-38.6%), from €15,568 to €9,566
- Depreciation -€354
down €354 (-6.0%), from €5,876 to €5,522
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 | €285,748 | €321,386 | +€35,638 | +12.5% |
| Fixed assets | 21/28 | €29,970 | €25,591 | -€4,379 | -14.6% |
| Tangible fixed assets | 22/27 | €27,803 | €23,424 | -€4,379 | -15.8% |
| Land and buildings | 22 | €15,590 | €15,037 | -€553 | -3.5% |
| Furniture and vehicles | 24 | €11,214 | €7,387 | -€3,827 | -34.1% |
| Other tangible fixed assets | 26 | €1,000 | €1,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,167 | €2,167 | = | 0.0% |
| Current assets | 29/58 | €255,778 | €295,795 | +€40,017 | +15.6% |
| Amounts receivable after more than one year | 29 | €61,584 | €61,584 | = | 0.0% |
| Other amounts receivable | 291 | €61,584 | €61,584 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,411 | €22,397 | -€2,015 | -8.3% |
| Trade receivables | 40 | €14,581 | €16,037 | +€1,457 | +10.0% |
| Other amounts receivable | 41 | €9,831 | €6,359 | -€3,471 | -35.3% |
| Cash at bank and in hand | 54/58 | €167,223 | €209,340 | +€42,117 | +25.2% |
| Deferred charges and accrued income | 490/1 | €2,560 | €2,475 | -€85 | -3.3% |
| Total equity and liabilities | 10/49 | €285,748 | €321,386 | +€35,638 | +12.5% |
| Equity | 10/15 | €275,296 | €308,844 | +€33,548 | +12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €269,096 | €302,644 | +€33,548 | +12.5% |
| Distributable reserves | 133 | €269,096 | €302,644 | +€33,548 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,453 | €12,542 | +€2,089 | +20.0% |
| Amounts payable within one year | 42/48 | €10,453 | €12,542 | +€2,089 | +20.0% |
| Financial debts | 43 | €195 | €21 | -€174 | -89.2% |
| Credit institutions | 430/8 | - | €21 | +€21 | |
| Other loans | 439 | €195 | €0 | -€195 | -100% |
| Trade debts | 44 | €4,304 | €6,327 | +€2,023 | +47.0% |
| Suppliers | 440/4 | €4,304 | €6,327 | +€2,023 | +47.0% |
| Taxes, remuneration and social security | 45 | €5,954 | €6,111 | +€156 | +2.6% |
| Taxes | 450/3 | €5,954 | €6,111 | +€156 | +2.6% |
| Other amounts payable | 47/48 | €0 | €83 | +€83 | |
| Non-recurring operating income | 76A | €100 | €0 | -€100 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,876 | €5,522 | -€354 | -6.0% |
| Other operating charges | 640/8 | €1,543 | €1,567 | +€24 | +1.5% |
| Gross operating margin | 9900 | €13,428 | €26,671 | +€13,243 | +98.6% |
| Operating profit (loss) | 9901 | €6,010 | €19,583 | +€13,573 | +226% |
| Financial income | 75/76B | €134,916 | €36,989 | -€97,927 | -72.6% |
| Recurring financial income | 75 | €134,916 | €36,989 | -€97,927 | -72.6% |
| Financial charges | 65/66B | €3,738 | €3,629 | -€109 | -2.9% |
| Recurring financial charges | 65 | €3,738 | €3,629 | -€109 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €137,187 | €52,942 | -€84,245 | -61.4% |
| Income taxes | 67/77 | €15,568 | €9,566 | -€6,002 | -38.6% |
| Profit (loss) for the period | 9904 | €121,619 | €43,377 | -€78,243 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €121,619 | €43,377 | -€78,243 | -64.3% |
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 14 October 2026 via checked.be.