WE Estates: 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 Estates
Largest movements
- Receivables within one year +€150,383
up €150,383 (+307.4%), from €48,918 to €199,301
of which Other amounts receivable: +€143,137
- Tangible fixed assets +€139,261
up €139,261 (+68.4%), from €203,482 to €342,743
of which Land and buildings: +€120,660
- Cash -€136,377
down €136,377 (-59.6%), from €228,920 to €92,543
mainly Contributions, distributions and other (-€256,976) and Investment in fixed assets (net) (-€159,726)
- Other debts +€183,076
up €183,076 (+517.7%), from €35,363 to €218,439
- Reserves -€121,767
down €121,767 (-47.4%), from €256,976 to €135,208
- Debts after one year +€83,677
up €83,677 (+77.2%), from €108,377 to €192,054
- Trade debts -€25,047
down €25,047 (-80.2%), from €31,236 to €6,189
- Accrued charges and deferred income +€20,258
up €20,258 (+962.0%), from €2,106 to €22,364
- Gross operating margin -€32,694
down €32,694 (-13.4%), from €244,314 to €211,620
- Financial charges +€10,954
up €10,954 (+348.0%), from €3,147 to €14,102
- Taxes -€10,088
down €10,088 (-21.7%), from €46,519 to €36,431
- Depreciation -€6,349
down €6,349 (-23.7%), from €26,814 to €20,464
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 | €481,320 | €634,587 | +€153,267 | +31.8% |
| Fixed assets | 21/28 | €203,482 | €342,743 | +€139,261 | +68.4% |
| Tangible fixed assets | 22/27 | €203,482 | €342,743 | +€139,261 | +68.4% |
| Land and buildings | 22 | €198,261 | €318,921 | +€120,660 | +60.9% |
| Furniture and vehicles | 24 | €5,220 | €23,822 | +€18,602 | +356.3% |
| Current assets | 29/58 | €277,838 | €291,844 | +€14,006 | +5.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €48,918 | €199,301 | +€150,383 | +307.4% |
| Trade receivables | 40 | €33,091 | €40,337 | +€7,246 | +21.9% |
| Other amounts receivable | 41 | €15,827 | €158,965 | +€143,137 | +904.4% |
| Cash at bank and in hand | 54/58 | €228,920 | €92,543 | -€136,377 | -59.6% |
| Total equity and liabilities | 10/49 | €481,320 | €634,587 | +€153,267 | +31.8% |
| Equity | 10/15 | €259,976 | €138,208 | -€121,767 | -46.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €256,976 | €135,208 | -€121,767 | -47.4% |
| Distributable reserves | 133 | €256,976 | €135,208 | -€121,767 | -47.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €221,344 | €496,379 | +€275,035 | +124.3% |
| Amounts payable after more than one year | 17 | €108,377 | €192,054 | +€83,677 | +77.2% |
| Financial debts | 170/4 | €108,377 | €192,054 | +€83,677 | +77.2% |
| Amounts payable within one year | 42/48 | €110,861 | €281,961 | +€171,100 | +154.3% |
| Current portion of amounts payable after more than one year | 42 | €11,065 | €11,528 | +€463 | +4.2% |
| Trade debts | 44 | €31,236 | €6,189 | -€25,047 | -80.2% |
| Suppliers | 440/4 | €31,236 | €6,189 | -€25,047 | -80.2% |
| Advances received on contracts in progress | 46 | €7,573 | €19,721 | +€12,148 | +160.4% |
| Taxes, remuneration and social security | 45 | €25,623 | €26,083 | +€460 | +1.8% |
| Taxes | 450/3 | €23,913 | €26,083 | +€2,170 | +9.1% |
| Remuneration and social security | 454/9 | €1,710 | €0 | -€1,710 | -100.0% |
| Other amounts payable | 47/48 | €35,363 | €218,439 | +€183,076 | +517.7% |
| Accrued charges and deferred income | 492/3 | €2,106 | €22,364 | +€20,258 | +962.0% |
| Remuneration, social security and pensions | 62 | - | €1,035 | +€1,035 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,814 | €20,464 | -€6,349 | -23.7% |
| Other operating charges | 640/8 | €3,808 | €4,388 | +€580 | +15.2% |
| Gross operating margin | 9900 | €244,314 | €211,620 | -€32,694 | -13.4% |
| Operating profit (loss) | 9901 | €213,692 | €185,732 | -€27,959 | -13.1% |
| Financial income | 75/76B | €0 | €8 | +€8 | |
| Recurring financial income | 75 | €0 | €8 | +€8 | |
| Financial charges | 65/66B | €3,147 | €14,102 | +€10,954 | +348.0% |
| Recurring financial charges | 65 | €3,147 | €14,102 | +€10,954 | +348.0% |
| Profit (loss) for the period before taxes | 9903 | €210,545 | €171,639 | -€38,906 | -18.5% |
| Income taxes | 67/77 | €46,519 | €36,431 | -€10,088 | -21.7% |
| Profit (loss) for the period | 9904 | €164,025 | €135,208 | -€28,817 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €164,025 | €135,208 | -€28,817 | -17.6% |
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 4 October 2026 via checked.be.