WE-projects: 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.
WE-projects
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+31,129%), from €6,905 to €2.2m
of which Land and buildings: +€2.2m
- Stocks and contracts -€193,227
down €193,227 (-11.2%), from €1.7m to €1.5m
- Cash -€150,608
down €150,608 (-90.7%), from €165,980 to €15,372
mainly Investment in fixed assets (net) (-€2.1m) and Trade debts (-€150,832)
- Receivables within one year -€104,465
down €104,465 (-74.8%), from €139,609 to €35,144
of which Trade receivables: -€108,939
- Debts after one year +€1.1m
up €1.1m (+81.9%), from €1.3m to €2.4m
of which Financial debts: +€1.1m
- Other debts +€705,946
up €705,946 (+116%), from €606,851 to €1.3m
- Trade debts -€150,832
down €150,832 (-97.0%), from €155,503 to €4,671
- Gross operating margin +€52,764
up €52,764 (+270%), from €19,543 to €72,307
- Depreciation -€11,119
down €11,119 (-97.0%), from €11,458 to €339
- Financial charges -€8,630
down €8,630 (-18.4%), from €46,865 to €38,235
- Financial income +€3,311
up €3,311 (+62.8%), from €5,274 to €8,585
- Other operating charges +€2,955
up €2,955 (+67.6%), from €4,373 to €7,328
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 | €2,045,346 | €3,745,327 | +€1.7m | +83.1% |
| Fixed assets | 21/28 | €8,155 | €2,157,602 | +€2.1m | +26,358% |
| Tangible fixed assets | 22/27 | €6,905 | €2,156,352 | +€2.1m | +31,129% |
| Land and buildings | 22 | - | €2,155,636 | +€2.2m | |
| Plant, machinery and equipment | 23 | €237 | €715 | +€478 | +202% |
| Furniture and vehicles | 24 | €6,668 | - | -€6,668 | |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €2,037,191 | €1,587,726 | -€449,465 | -22.1% |
| Stocks and contracts in progress | 3 | €1,720,331 | €1,527,103 | -€193,227 | -11.2% |
| Stocks | 30/36 | €1,720,331 | €1,527,103 | -€193,227 | -11.2% |
| Amounts receivable within one year | 40/41 | €139,609 | €35,144 | -€104,465 | -74.8% |
| Trade receivables | 40 | €125,800 | €16,861 | -€108,939 | -86.6% |
| Other amounts receivable | 41 | €13,809 | €18,283 | +€4,474 | +32.4% |
| Cash at bank and in hand | 54/58 | €165,980 | €15,372 | -€150,608 | -90.7% |
| Deferred charges and accrued income | 490/1 | €11,271 | €10,106 | -€1,165 | -10.3% |
| Total equity and liabilities | 10/49 | €2,045,346 | €3,745,327 | +€1.7m | +83.1% |
| Equity | 10/15 | -€34,245 | €48 | +€34,293 | |
| Contributions | 10/11 | €141,600 | €141,600 | = | 0.0% |
| Reserves | 13 | €61,000 | €61,000 | = | 0.0% |
| Distributable reserves | 133 | €61,000 | €61,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€236,845 | -€202,552 | +€34,293 | +14.5% |
| Amounts payable | 17/49 | €2,079,590 | €3,745,279 | +€1.7m | +80.1% |
| Amounts payable after more than one year | 17 | €1,295,637 | €2,356,740 | +€1.1m | +81.9% |
| Financial debts | 170/4 | €1,295,637 | €2,347,335 | +€1.1m | +81.2% |
| Other amounts payable | 178/9 | - | €9,405 | +€9,405 | |
| Amounts payable within one year | 42/48 | €781,518 | €1,388,539 | +€607,021 | +77.7% |
| Current portion of amounts payable after more than one year | 42 | €16,284 | €34,763 | +€18,479 | +113% |
| Trade debts | 44 | €155,503 | €4,671 | -€150,832 | -97.0% |
| Suppliers | 440/4 | €155,503 | €4,671 | -€150,832 | -97.0% |
| Advances received on contracts in progress | 46 | - | €2,124 | +€2,124 | |
| Taxes, remuneration and social security | 45 | €2,880 | €34,184 | +€31,304 | +1,087% |
| Taxes | 450/3 | €2,880 | €34,184 | +€31,304 | +1,087% |
| Other amounts payable | 47/48 | €606,851 | €1,312,797 | +€705,946 | +116% |
| Accrued charges and deferred income | 492/3 | €2,435 | - | -€2,435 | |
| Non-recurring operating income | 76A | - | €23,372 | +€23,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,458 | €339 | -€11,119 | -97.0% |
| Other operating charges | 640/8 | €4,373 | €7,328 | +€2,955 | +67.6% |
| Gross operating margin | 9900 | €19,543 | €72,307 | +€52,764 | +270% |
| Operating profit (loss) | 9901 | €3,712 | €64,640 | +€60,927 | +1,641% |
| Financial income | 75/76B | €5,274 | €8,585 | +€3,311 | +62.8% |
| Recurring financial income | 75 | €5,274 | €8,585 | +€3,311 | +62.8% |
| Financial charges | 65/66B | €46,865 | €38,235 | -€8,630 | -18.4% |
| Recurring financial charges | 65 | €46,865 | €38,235 | -€8,630 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | -€37,879 | €34,990 | +€72,869 | |
| Income taxes | 67/77 | €253 | €697 | +€444 | +176% |
| Profit (loss) for the period | 9904 | -€38,132 | €34,293 | +€72,425 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,132 | €34,293 | +€72,425 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.