100+ Year Old Basement Walls Crumbling

A friend told me the problems with my basement walls were cosmetic not structural but I would like some other opinions to make sure. Pic posted below. I have been down there cleaning and the basement is dry. I would almost understand the walls failing if there were water coming in. Please also let me know what kind of company would I hire to fix this or if maybe it is something I might be able to tackle (I'm a small woman over 50). Since I'm on a limited budget, I want to know what I'm talking about if I have to hire the work done. Thank you in advance for your help! Elizabeth Attachment 49843 (http://www.doityourself.com/forum/attachments/basements-attics-crawl-spaces/49843-100-year-old-basement-walls-crumbling-dscn02280002.jpg)