WECONSTRUCT: 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.
WECONSTRUCT
Largest movements
- Stocks and contracts -€12.2m
down €12.2m (-67.8%), from €17.9m to €5.8m
- Receivables within one year -€1.1m
down €1.1m (-69.9%), from €1.5m to €459,399
of which Trade receivables: -€1.2m
- Receivables after one year +€624,677
up €624,677 (+248%), from €252,322 to €876,999
- Cash -€474,506
down €474,506 (-41.1%), from €1.2m to €681,104
mainly Advances received (-€14.9m) and Receivables after one year (-€624,677)
- Advances received -€14.9m
no longer reported in 2025 (was €14.9m)
- Debts after one year +€1.6m
up €1.6m (+79.5%), from €2.0m to €3.6m
- Reserves +€1.2m
up €1.2m (+204%), from €578,192 to €1.8m
- Short-term financial debts -€609,794
down €609,794 (-38.5%), from €1.6m to €975,000
- Trade debts -€242,646
down €242,646 (-14.5%), from €1.7m to €1.4m
- Gross operating margin +€1.6m
up €1.6m, from -€87,943 to €1.5m
- Taxes +€311,495
up €311,495 (+90,910%), from €343 to €311,838
- Financial income -€68,308
down €68,308 (-38.0%), from €179,689 to €111,381
- Financial charges +€26,024
up €26,024 (+33.4%), from €77,886 to €103,910
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 | €20,949,700 | €7,870,423 | -€13.1m | -62.4% |
| Fixed assets | 21/28 | €34,176 | €32,023 | -€2,154 | -6.3% |
| Tangible fixed assets | 22/27 | €4,376 | €1,223 | -€3,154 | -72.1% |
| Furniture and vehicles | 24 | €4,376 | €1,223 | -€3,154 | -72.1% |
| Financial fixed assets | 28 | €29,800 | €30,800 | +€1,000 | +3.4% |
| Current assets | 29/58 | €20,915,523 | €7,838,401 | -€13.1m | -62.5% |
| Amounts receivable after more than one year | 29 | €252,322 | €876,999 | +€624,677 | +248% |
| Other amounts receivable | 291 | €252,322 | €876,999 | +€624,677 | +248% |
| Stocks and contracts in progress | 3 | €17,945,229 | €5,780,778 | -€12.2m | -67.8% |
| Stocks | 30/36 | €17,945,229 | €5,780,778 | -€12.2m | -67.8% |
| Amounts receivable within one year | 40/41 | €1,524,202 | €459,399 | -€1.1m | -69.9% |
| Trade receivables | 40 | €1,522,980 | €354,271 | -€1.2m | -76.7% |
| Other amounts receivable | 41 | €1,222 | €105,128 | +€103,906 | +8,505% |
| Cash at bank and in hand | 54/58 | €1,155,611 | €681,104 | -€474,506 | -41.1% |
| Deferred charges and accrued income | 490/1 | €38,160 | €40,121 | +€1,960 | +5.1% |
| Total equity and liabilities | 10/49 | €20,949,700 | €7,870,423 | -€13.1m | -62.4% |
| Equity | 10/15 | €678,192 | €1,855,742 | +€1.2m | +174% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €578,192 | €1,755,742 | +€1.2m | +204% |
| Distributable reserves | 133 | €578,192 | €1,755,742 | +€1.2m | +204% |
| Amounts payable | 17/49 | €20,271,508 | €6,014,682 | -€14.3m | -70.3% |
| Amounts payable after more than one year | 17 | €1,991,489 | €3,575,652 | +€1.6m | +79.5% |
| Other amounts payable | 178/9 | €1,991,489 | €3,575,652 | +€1.6m | +79.5% |
| Amounts payable within one year | 42/48 | €18,280,018 | €2,439,029 | -€15.8m | -86.7% |
| Financial debts | 43 | €1,584,794 | €975,000 | -€609,794 | -38.5% |
| Credit institutions | 430/8 | €1,584,794 | €975,000 | -€609,794 | -38.5% |
| Trade debts | 44 | €1,675,903 | €1,433,257 | -€242,646 | -14.5% |
| Suppliers | 440/4 | €1,675,903 | €1,433,257 | -€242,646 | -14.5% |
| Advances received on contracts in progress | 46 | €14,900,356 | - | -€14.9m | |
| Taxes, remuneration and social security | 45 | €118,965 | €30,773 | -€88,193 | -74.1% |
| Taxes | 450/3 | €118,965 | €30,773 | -€88,193 | -74.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,171 | €3,154 | -€5,017 | -61.4% |
| Other operating charges | 640/8 | €746 | €1,345 | +€599 | +80.3% |
| Gross operating margin | 9900 | -€87,943 | €1,486,415 | +€1.6m | |
| Operating profit (loss) | 9901 | -€96,859 | €1,481,917 | +€1.6m | |
| Financial income | 75/76B | €179,689 | €111,381 | -€68,308 | -38.0% |
| Recurring financial income | 75 | €179,689 | €111,381 | -€68,308 | -38.0% |
| Financial charges | 65/66B | €77,886 | €103,910 | +€26,024 | +33.4% |
| Recurring financial charges | 65 | €77,886 | €103,910 | +€26,024 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | €4,944 | €1,489,387 | +€1.5m | +30,027% |
| Income taxes | 67/77 | €343 | €311,838 | +€311,495 | +90,910% |
| Profit (loss) for the period | 9904 | €4,601 | €1,177,550 | +€1.2m | +25,493% |
| Profit (loss) for the period to be appropriated | 9905 | €4,601 | €1,177,550 | +€1.2m | +25,493% |
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.