WE ELECTRIC: what changed
Two fiscal 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.
WE ELECTRIC
Largest movements
- Tangible fixed assets +€242,238
up €242,238 (+57.4%), from €421,690 to €663,928
of which Land and buildings: +€176,215
- Cash -€139,187
down €139,187 (-83.5%), from €166,602 to €27,415
mainly Investment in fixed assets (net) (-€273,012) and Contributions, distributions and other (-€74,314)
- Receivables within one year -€67,684
down €67,684 (-34.3%), from €197,364 to €129,680
of which Other amounts receivable: -€36,531
- Debts after one year +€93,837
up €93,837 (+22.8%), from €410,750 to €504,587
- Other debts -€53,595
no longer reported in 2025 (was €53,595)
- Reserves -€28,898
down €28,898 (-12.4%), from €233,902 to €205,004
of which Distributable reserves: -€26,772
- Trade debts +€14,524
up €14,524 (+95.6%), from €15,195 to €29,719
- Gross operating margin -€49,630
down €49,630 (-31.4%), from €158,189 to €108,558
- Depreciation +€13,161
up €13,161 (+74.7%), from €17,614 to €30,774
- Taxes +€8,711
up €8,711 (+133.7%), from €6,515 to €15,226
- Financial income +€5,419
up €5,419 (+596.6%), from €908 to €6,328
- Financial charges +€1,688
up €1,688 (+7.9%), from €21,353 to €23,041
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.
Cash bridge derived
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 | €792,910 | €825,916 | +€33,006 | +4.2% |
| Fixed assets | 21/28 | €421,690 | €663,928 | +€242,238 | +57.4% |
| Tangible fixed assets | 22/27 | €421,690 | €663,928 | +€242,238 | +57.4% |
| Land and buildings | 22 | €378,025 | €554,240 | +€176,215 | +46.6% |
| Plant, machinery and equipment | 23 | €525 | €303 | -€222 | -42.3% |
| Furniture and vehicles | 24 | €25,540 | €91,785 | +€66,245 | +259.4% |
| Other tangible fixed assets | 26 | €17,600 | €17,600 | = | 0.0% |
| Current assets | 29/58 | €371,220 | €161,988 | -€209,232 | -56.4% |
| Amounts receivable within one year | 40/41 | €197,364 | €129,680 | -€67,684 | -34.3% |
| Trade receivables | 40 | €61,408 | €30,255 | -€31,153 | -50.7% |
| Other amounts receivable | 41 | €135,956 | €99,425 | -€36,531 | -26.9% |
| Cash at bank and in hand | 54/58 | €166,602 | €27,415 | -€139,187 | -83.5% |
| Deferred charges and accrued income | 490/1 | €7,254 | €4,893 | -€2,361 | -32.5% |
| Total equity and liabilities | 10/49 | €792,910 | €825,916 | +€33,006 | +4.2% |
| Equity | 10/15 | €252,452 | €223,554 | -€28,898 | -11.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €233,902 | €205,004 | -€28,898 | -12.4% |
| Tax-exempt reserves | 132 | €53,995 | €51,869 | -€2,125 | -3.9% |
| Distributable reserves | 133 | €179,908 | €153,135 | -€26,772 | -14.9% |
| Provisions and deferred taxes | 16 | €29,998 | €29,290 | -€708 | -2.4% |
| Provisions for liabilities and charges | 160/5 | €12,000 | €12,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €12,000 | €12,000 | = | 0.0% |
| Deferred taxes | 168 | €17,998 | €17,290 | -€708 | -3.9% |
| Amounts payable | 17/49 | €510,459 | €573,072 | +€62,612 | +12.3% |
| Amounts payable after more than one year | 17 | €410,750 | €504,587 | +€93,837 | +22.8% |
| Financial debts | 170/4 | €410,750 | €504,587 | +€93,837 | +22.8% |
| Amounts payable within one year | 42/48 | €99,710 | €68,152 | -€31,557 | -31.6% |
| Current portion of amounts payable after more than one year | 42 | €30,910 | €30,461 | -€449 | -1.5% |
| Trade debts | 44 | €15,195 | €29,719 | +€14,524 | +95.6% |
| Suppliers | 440/4 | €15,195 | €29,719 | +€14,524 | +95.6% |
| Taxes, remuneration and social security | 45 | €9 | €7,972 | +€7,963 | +88578.2% |
| Taxes | 450/3 | €9 | €7,972 | +€7,963 | +88578.2% |
| Other amounts payable | 47/48 | €53,595 | - | -€53,595 | |
| Accrued charges and deferred income | 492/3 | - | €333 | +€333 | |
| Non-recurring operating income | 76A | €71,993 | €1,803 | -€70,190 | -97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,614 | €30,774 | +€13,161 | +74.7% |
| Other operating charges | 640/8 | €2,628 | €1,137 | -€1,491 | -56.7% |
| Non-recurring operating charges | 66A | €14,537 | - | -€14,537 | |
| Gross operating margin | 9900 | €158,189 | €108,558 | -€49,630 | -31.4% |
| Operating profit (loss) | 9901 | €123,410 | €76,647 | -€46,763 | -37.9% |
| Financial income | 75/76B | €908 | €6,328 | +€5,419 | +596.6% |
| Recurring financial income | 75 | €908 | €6,328 | +€5,419 | +596.6% |
| Financial charges | 65/66B | €21,353 | €23,041 | +€1,688 | +7.9% |
| Recurring financial charges | 65 | €21,353 | €23,041 | +€1,688 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €102,965 | €59,934 | -€43,031 | -41.8% |
| Transfer from deferred taxes | 780 | - | €708 | +€708 | |
| Transfer to deferred taxes | 680 | €17,998 | - | -€17,998 | |
| Income taxes | 67/77 | €6,515 | €15,226 | +€8,711 | +133.7% |
| Profit (loss) for the period | 9904 | €78,452 | €45,417 | -€33,035 | -42.1% |
| Transfer from tax-exempt reserves | 789 | - | €2,125 | +€2,125 | |
| Transfer to tax-exempt reserves | 689 | €53,995 | - | -€53,995 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,457 | €47,542 | +€23,085 | +94.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.