Pipe Welding Engineering: 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.
Pipe Welding Engineering
Largest movements
- Receivables within one year +€228,215
new in 2025: €228,215
of which Other amounts receivable: +€139,355
- Receivables after one year -€202,006
no longer reported in 2025 (was €202,006)
of which Other amounts receivable: -€107,471
- Tangible fixed assets +€44,591
up €44,591 (+496%), from €8,995 to €53,587
of which Furniture and vehicles: +€47,811
- Cash -€16,166
down €16,166 (-62.9%), from €25,695 to €9,529
mainly Receivables within one year (-€228,215) and Investment in fixed assets (net) (-€59,764)
- Deferred charges and accrued income +€10,000
up €10,000 (+40.0%), from €25,000 to €35,000
- Debts after one year +€46,210
new in 2025: €46,210
- Tax, wage and social debts +€19,277
new in 2025: €19,277
- Trade debts -€7,260
down €7,260 (-92.1%), from €7,880 to €620
- Current portion of long-term debt +€5,441
up €5,441 (+65.1%), from €8,352 to €13,793
- Taxes +€32,613
up €32,613 (+392%), from €8,314 to €40,926
- Depreciation +€12,509
up €12,509 (+470%), from €2,664 to €15,172
- Gross operating margin -€9,701
down €9,701 (-12.9%), from €75,028 to €65,327
- Financial charges +€1,669
up €1,669 (+1,236%), from €135 to €1,804
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 | €261,697 | €326,331 | +€64,634 | +24.7% |
| Fixed assets | 21/28 | €8,995 | €53,587 | +€44,591 | +496% |
| Tangible fixed assets | 22/27 | €8,995 | €53,587 | +€44,591 | +496% |
| Plant, machinery and equipment | 23 | €8,995 | €5,776 | -€3,220 | -35.8% |
| Furniture and vehicles | 24 | - | €47,811 | +€47,811 | |
| Current assets | 29/58 | €252,701 | €272,744 | +€20,042 | +7.9% |
| Amounts receivable after more than one year | 29 | €202,006 | - | -€202,006 | |
| Trade receivables | 290 | €94,535 | - | -€94,535 | |
| Other amounts receivable | 291 | €107,471 | - | -€107,471 | |
| Amounts receivable within one year | 40/41 | - | €228,215 | +€228,215 | |
| Trade receivables | 40 | - | €88,860 | +€88,860 | |
| Other amounts receivable | 41 | - | €139,355 | +€139,355 | |
| Cash at bank and in hand | 54/58 | €25,695 | €9,529 | -€16,166 | -62.9% |
| Deferred charges and accrued income | 490/1 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Total equity and liabilities | 10/49 | €261,697 | €326,331 | +€64,634 | +24.7% |
| Equity | 10/15 | €239,465 | €240,430 | +€965 | +0.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,405 | €232,370 | +€965 | +0.4% |
| Amounts payable | 17/49 | €22,232 | €85,901 | +€63,669 | +286% |
| Amounts payable after more than one year | 17 | - | €46,210 | +€46,210 | |
| Financial debts | 170/4 | - | €46,210 | +€46,210 | |
| Amounts payable within one year | 42/48 | €22,232 | €39,690 | +€17,458 | +78.5% |
| Current portion of amounts payable after more than one year | 42 | €8,352 | €13,793 | +€5,441 | +65.1% |
| Trade debts | 44 | €7,880 | €620 | -€7,260 | -92.1% |
| Suppliers | 440/4 | €7,880 | €620 | -€7,260 | -92.1% |
| Taxes, remuneration and social security | 45 | - | €19,277 | +€19,277 | |
| Taxes | 450/3 | - | €19,277 | +€19,277 | |
| Other amounts payable | 47/48 | €6,000 | €6,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,664 | €15,172 | +€12,509 | +470% |
| Other operating charges | 640/8 | €535 | €463 | -€72 | -13.4% |
| Gross operating margin | 9900 | €75,028 | €65,327 | -€9,701 | -12.9% |
| Operating profit (loss) | 9901 | €71,830 | €49,691 | -€22,139 | -30.8% |
| Financial income | 75/76B | €47 | €4 | -€43 | -92.0% |
| Recurring financial income | 75 | €47 | €4 | -€43 | -92.0% |
| Financial charges | 65/66B | €135 | €1,804 | +€1,669 | +1,236% |
| Recurring financial charges | 65 | €135 | €1,804 | +€1,669 | +1,236% |
| Profit (loss) for the period before taxes | 9903 | €71,742 | €47,891 | -€23,850 | -33.2% |
| Income taxes | 67/77 | €8,314 | €40,926 | +€32,613 | +392% |
| Profit (loss) for the period | 9904 | €63,428 | €6,965 | -€56,463 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,428 | €6,965 | -€56,463 | -89.0% |
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 15 October 2026 via checked.be.