VAN WELLEN-THYS CONSTRUCT: 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.
VAN WELLEN-THYS CONSTRUCT
Largest movements
- Stocks and contracts -€30,333
down €30,333 (-40.6%), from €74,635 to €44,302
- Cash +€8,061
up €8,061 (+10.2%), from €79,153 to €87,213
mainly Stocks and contracts (+€30,333) and Other debts (+€9,555)
- Profit (loss) carried forward -€30,902
down €30,902 (-9.4%), from -€329,851 to -€360,753
- Other debts +€9,555
up €9,555 (+2.1%), from €459,040 to €468,595
- Trade debts -€3,720
down €3,720 (-82.8%), from €4,491 to €771
- Tax, wage and social debts +€2,310
new in 2025: €2,310
- Financial charges -€15,480
down €15,480 (-62.1%), from €24,943 to €9,463
- Write-downs +€1,965
up €1,965 (+16.0%), from €12,313 to €14,278
- Gross operating margin -€1,698
down €1,698 (-34.4%), from -€4,942 to -€6,640
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 | €154,141 | €131,515 | -€22,625 | -14.7% |
| Current assets | 29/58 | €154,141 | €131,515 | -€22,625 | -14.7% |
| Stocks and contracts in progress | 3 | €74,635 | €44,302 | -€30,333 | -40.6% |
| Stocks | 30/36 | €74,635 | €44,302 | -€30,333 | -40.6% |
| Amounts receivable within one year | 40/41 | €353 | - | -€353 | |
| Other amounts receivable | 41 | €353 | - | -€353 | |
| Cash at bank and in hand | 54/58 | €79,153 | €87,213 | +€8,061 | +10.2% |
| Total equity and liabilities | 10/49 | €154,141 | €131,515 | -€22,625 | -14.7% |
| Equity | 10/15 | -€309,391 | -€340,293 | -€30,902 | -10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€329,851 | -€360,753 | -€30,902 | -9.4% |
| Amounts payable | 17/49 | €463,532 | €471,808 | +€8,276 | +1.8% |
| Amounts payable within one year | 42/48 | €463,532 | €471,676 | +€8,144 | +1.8% |
| Trade debts | 44 | €4,491 | €771 | -€3,720 | -82.8% |
| Suppliers | 440/4 | €4,491 | €771 | -€3,720 | -82.8% |
| Taxes, remuneration and social security | 45 | - | €2,310 | +€2,310 | |
| Taxes | 450/3 | - | €2,310 | +€2,310 | |
| Other amounts payable | 47/48 | €459,040 | €468,595 | +€9,555 | +2.1% |
| Accrued charges and deferred income | 492/3 | - | €132 | +€132 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,313 | €14,278 | +€1,965 | +16.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€4,942 | -€6,640 | -€1,698 | -34.4% |
| Operating profit (loss) | 9901 | -€17,761 | -€21,438 | -€3,677 | -20.7% |
| Financial charges | 65/66B | €24,943 | €9,463 | -€15,480 | -62.1% |
| Recurring financial charges | 65 | €24,943 | €9,463 | -€15,480 | -62.1% |
| Profit (loss) for the period before taxes | 9903 | -€42,704 | -€30,902 | +€11,803 | +27.6% |
| Profit (loss) for the period | 9904 | -€42,704 | -€30,902 | +€11,803 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,704 | -€30,902 | +€11,803 | +27.6% |
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 25 October 2026 via checked.be.