MaWelco: 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.
MaWelco
Largest movements
- Cash +€5,395
up €5,395 (+8.9%), from €60,569 to €65,964
mainly Net result for the year (+€48,896) and Other debts (+€2,057)
- Tangible fixed assets -€847
down €847 (-30.7%), from €2,759 to €1,912
- Other debts +€2,057
up €2,057 (+4.4%), from €46,839 to €48,896
- Tax, wage and social debts +€1,612
up €1,612 (+14.1%), from €11,453 to €13,065
- Gross operating margin +€2,990
up €2,990 (+5.0%), from €59,988 to €62,978
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 | €80,275 | €84,021 | +€3,746 | +4.7% |
| Fixed assets | 21/28 | €2,759 | €1,912 | -€847 | -30.7% |
| Tangible fixed assets | 22/27 | €2,759 | €1,912 | -€847 | -30.7% |
| Furniture and vehicles | 24 | €2,759 | €1,912 | -€847 | -30.7% |
| Current assets | 29/58 | €77,516 | €82,109 | +€4,593 | +5.9% |
| Amounts receivable within one year | 40/41 | €15,067 | €14,259 | -€808 | -5.4% |
| Trade receivables | 40 | €15,067 | €14,259 | -€808 | -5.4% |
| Cash at bank and in hand | 54/58 | €60,569 | €65,964 | +€5,395 | +8.9% |
| Deferred charges and accrued income | 490/1 | €1,879 | €1,885 | +€6 | +0.3% |
| Total equity and liabilities | 10/49 | €80,275 | €84,021 | +€3,746 | +4.7% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €61,675 | €65,421 | +€3,746 | +6.1% |
| Amounts payable within one year | 42/48 | €61,675 | €65,421 | +€3,746 | +6.1% |
| Financial debts | 43 | - | €611 | +€611 | |
| Credit institutions | 430/8 | - | €611 | +€611 | |
| Trade debts | 44 | €3,382 | €2,848 | -€534 | -15.8% |
| Suppliers | 440/4 | €3,382 | €2,848 | -€534 | -15.8% |
| Taxes, remuneration and social security | 45 | €11,453 | €13,065 | +€1,612 | +14.1% |
| Taxes | 450/3 | €11,453 | €13,065 | +€1,612 | +14.1% |
| Other amounts payable | 47/48 | €46,839 | €48,896 | +€2,057 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €488 | €847 | +€359 | +73.5% |
| Other operating charges | 640/8 | €505 | €570 | +€64 | +12.7% |
| Gross operating margin | 9900 | €59,988 | €62,978 | +€2,990 | +5.0% |
| Operating profit (loss) | 9901 | €58,994 | €61,561 | +€2,567 | +4.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €90 | €72 | -€18 | -20.3% |
| Recurring financial charges | 65 | €90 | €72 | -€18 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €58,904 | €61,489 | +€2,585 | +4.4% |
| Income taxes | 67/77 | €12,064 | €12,593 | +€528 | +4.4% |
| Profit (loss) for the period | 9904 | €46,839 | €48,896 | +€2,057 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,839 | €48,896 | +€2,057 | +4.4% |
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 13 October 2026 via checked.be.