The Welcome Wagon: what changed
What changed
The Welcome Wagon
NACE 82.990, Other business support services
filed annual accounts (NBB)
Net result for the year
€101,844
2024 · €142,602-€40,758
Equity
€249,954
2024 · €148,109+€101,844
Cash
€142,677
2024 · €85,081+€57,596
Balance sheet total
€277,353
2024 · €185,304+€92,049
Largest movements
Assets
- Cash +€57,596
up €57,596 (+67.7%), from €85,081 to €142,677
mainly Net result for the year (+€101,844) and Depreciation (+€2,250)
- Receivables within one year +€32,276
up €32,276 (+34.2%), from €94,260 to €126,535
of which Other amounts receivable: +€25,955
Equity and liabilities
- Reserves +€101,844
up €101,844 (+69.7%), from €146,109 to €247,954
- Tax, wage and social debts -€7,129
down €7,129 (-21.3%), from €33,478 to €26,348
Income statement
- Gross operating margin -€53,242
down €53,242 (-28.3%), from €187,947 to €134,705
- Taxes -€13,625
down €13,625 (-31.7%), from €42,975 to €29,350
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€142,602
Gross operating margin
-€53,242
Depreciation
-€1,139
Other operating charges
-€263
Financial income
+€518
Financial charges
-€258
Taxes
+€13,625
Result 2025
€101,844
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€62,084
Investment
-€4,488
Financing
€0
Cash 2024
€85,081
From operations (derived)
+€62,084
Net result for the year
+€101,844
Depreciation
+€2,250
Receivables within one year
-€32,276
Deferred charges and accrued income
+€60
Trade debts
-€734
Tax, wage and social debts
-€7,129
Other debts
-€859
Accrued charges and deferred income
-€1,073
Investment (derived)
-€4,488
Investment in fixed assets (net)
-€4,488
Cash 2025
€142,677
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,304 | €277,353 | +€92,049 | +49.7% |
| Fixed assets | 21/28 | €5,705 | €7,942 | +€2,238 | +39.2% |
| Tangible fixed assets | 22/27 | €5,705 | €7,942 | +€2,238 | +39.2% |
| Furniture and vehicles | 24 | €2,705 | €4,942 | +€2,238 | +82.7% |
| Other tangible fixed assets | 26 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €179,599 | €269,411 | +€89,812 | +50.0% |
| Amounts receivable within one year | 40/41 | €94,260 | €126,535 | +€32,276 | +34.2% |
| Trade receivables | 40 | €92,525 | €98,846 | +€6,321 | +6.8% |
| Other amounts receivable | 41 | €1,735 | €27,690 | +€25,955 | +1,496% |
| Cash at bank and in hand | 54/58 | €85,081 | €142,677 | +€57,596 | +67.7% |
| Deferred charges and accrued income | 490/1 | €258 | €198 | -€60 | -23.1% |
| Total equity and liabilities | 10/49 | €185,304 | €277,353 | +€92,049 | +49.7% |
| Equity | 10/15 | €148,109 | €249,954 | +€101,844 | +68.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €146,109 | €247,954 | +€101,844 | +69.7% |
| Distributable reserves | 133 | €146,109 | €247,954 | +€101,844 | +69.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €37,194 | €27,399 | -€9,795 | -26.3% |
| Amounts payable within one year | 42/48 | €35,414 | €26,692 | -€8,722 | -24.6% |
| Trade debts | 44 | €1,078 | €344 | -€734 | -68.1% |
| Suppliers | 440/4 | €1,078 | €344 | -€734 | -68.1% |
| Taxes, remuneration and social security | 45 | €33,478 | €26,348 | -€7,129 | -21.3% |
| Taxes | 450/3 | €33,478 | €26,348 | -€7,129 | -21.3% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100% |
| Accrued charges and deferred income | 492/3 | €1,780 | €707 | -€1,073 | -60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,112 | €2,250 | +€1,139 | +102% |
| Other operating charges | 640/8 | €0 | €263 | +€263 | |
| Gross operating margin | 9900 | €187,947 | €134,705 | -€53,242 | -28.3% |
| Operating profit (loss) | 9901 | €186,835 | €132,192 | -€54,643 | -29.2% |
| Financial income | 75/76B | €33 | €551 | +€518 | +1,580% |
| Recurring financial income | 75 | €33 | €551 | +€518 | +1,580% |
| Financial charges | 65/66B | €1,291 | €1,549 | +€258 | +20.0% |
| Recurring financial charges | 65 | €1,291 | €1,549 | +€258 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €185,577 | €131,194 | -€54,383 | -29.3% |
| Income taxes | 67/77 | €42,975 | €29,350 | -€13,625 | -31.7% |
| Profit (loss) for the period | 9904 | €142,602 | €101,844 | -€40,758 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €142,602 | €101,844 | -€40,758 | -28.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.