W. HEMELINGS: 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.
W. HEMELINGS
Largest movements
- Cash -€10,508
down €10,508 (-24.8%), from €42,320 to €31,812
mainly Debts after one year (-€10,000) and Receivables within one year (-€7,455)
- Tangible fixed assets -€8,304
down €8,304 (-6.4%), from €129,856 to €121,552
of which Other tangible fixed assets: -€6,670
- Receivables within one year +€7,455
up €7,455 (+122%), from €6,099 to €13,554
of which Trade receivables: +€8,873
- Debts after one year -€10,000
down €10,000 (-12.5%), from €80,000 to €70,000
- Other debts -€2,435
down €2,435 (-65.8%), from €3,701 to €1,266
- Gross operating margin -€14,222
down €14,222 (-45.4%), from €31,295 to €17,073
- Depreciation -€1,227
down €1,227 (-8.3%), from €14,871 to €13,644
- Taxes -€750
down €750 (-100%), from €750 to €0
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 | €178,775 | €167,531 | -€11,245 | -6.3% |
| Fixed assets | 21/28 | €129,856 | €121,552 | -€8,304 | -6.4% |
| Tangible fixed assets | 22/27 | €129,856 | €121,552 | -€8,304 | -6.4% |
| Plant, machinery and equipment | 23 | €14,209 | €13,029 | -€1,181 | -8.3% |
| Furniture and vehicles | 24 | €1,090 | €637 | -€453 | -41.6% |
| Other tangible fixed assets | 26 | €114,556 | €107,886 | -€6,670 | -5.8% |
| Current assets | 29/58 | €48,919 | €45,979 | -€2,940 | -6.0% |
| Amounts receivable within one year | 40/41 | €6,099 | €13,554 | +€7,455 | +122% |
| Trade receivables | 40 | €1,103 | €9,976 | +€8,873 | +804% |
| Other amounts receivable | 41 | €4,996 | €3,578 | -€1,418 | -28.4% |
| Cash at bank and in hand | 54/58 | €42,320 | €31,812 | -€10,508 | -24.8% |
| Deferred charges and accrued income | 490/1 | €500 | €613 | +€113 | +22.6% |
| Total equity and liabilities | 10/49 | €178,775 | €167,531 | -€11,245 | -6.3% |
| Equity | 10/15 | €91,363 | €90,396 | -€968 | -1.1% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €64,979 | €64,979 | = | 0.0% |
| Non-distributable reserves | 130/1 | €64,979 | €64,979 | = | 0.0% |
| Reserves not available under the articles | 1311 | €64,979 | €64,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,595 | €627 | -€968 | -60.7% |
| Amounts payable | 17/49 | €87,412 | €77,135 | -€10,277 | -11.8% |
| Amounts payable after more than one year | 17 | €80,000 | €70,000 | -€10,000 | -12.5% |
| Financial debts | 170/4 | €80,000 | €70,000 | -€10,000 | -12.5% |
| Amounts payable within one year | 42/48 | €6,412 | €6,135 | -€277 | -4.3% |
| Trade debts | 44 | €1,011 | €1,553 | +€542 | +53.6% |
| Suppliers | 440/4 | €1,011 | €1,553 | +€542 | +53.6% |
| Taxes, remuneration and social security | 45 | €1,700 | €3,316 | +€1,616 | +95.0% |
| Remuneration and social security | 454/9 | €1,700 | €3,316 | +€1,616 | +95.0% |
| Other amounts payable | 47/48 | €3,701 | €1,266 | -€2,435 | -65.8% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,871 | €13,644 | -€1,227 | -8.3% |
| Other operating charges | 640/8 | €4,141 | €4,263 | +€123 | +3.0% |
| Gross operating margin | 9900 | €31,295 | €17,073 | -€14,222 | -45.4% |
| Operating profit (loss) | 9901 | €12,283 | -€834 | -€13,117 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €163 | €133 | -€30 | -18.2% |
| Recurring financial charges | 65 | €163 | €133 | -€30 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €12,120 | -€968 | -€13,087 | |
| Income taxes | 67/77 | €750 | €0 | -€750 | -100% |
| Profit (loss) for the period | 9904 | €11,370 | -€968 | -€12,337 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,370 | -€968 | -€12,337 |
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 31 October 2026 via checked.be.