WEL - COM: 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.
WEL - COM
Largest movements
- Cash +€57,516
up €57,516 (+44.5%), from €129,143 to €186,659
mainly Depreciation (+€30,346) and Net result for the year (+€19,380)
- Tangible fixed assets -€30,346
down €30,346 (-8.2%), from €371,922 to €341,576
of which Land and buildings: -€22,680
- Profit (loss) carried forward +€19,380
up €19,380 (+25.6%), from -€75,736 to -€56,356
- Other debts +€9,001
up €9,001 (+3.6%), from €247,235 to €256,236
- Gross operating margin +€17,087
up €17,087 (+29.8%), from €57,305 to €74,392
- Depreciation -€12,671
down €12,671 (-29.5%), from €43,017 to €30,346
- Financial charges -€7,133
down €7,133 (-29.5%), from €24,191 to €17,058
- Financial income -€5,727
down €5,727 (-85.6%), from €6,690 to €964
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 | €570,882 | €596,511 | +€25,630 | +4.5% |
| Fixed assets | 21/28 | €382,022 | €351,676 | -€30,346 | -7.9% |
| Tangible fixed assets | 22/27 | €371,922 | €341,576 | -€30,346 | -8.2% |
| Land and buildings | 22 | €364,256 | €341,576 | -€22,680 | -6.2% |
| Furniture and vehicles | 24 | €7,666 | - | -€7,666 | |
| Financial fixed assets | 28 | €10,100 | €10,100 | = | 0.0% |
| Current assets | 29/58 | €188,859 | €244,835 | +€55,976 | +29.6% |
| Amounts receivable within one year | 40/41 | €57,846 | €53,221 | -€4,626 | -8.0% |
| Trade receivables | 40 | €14,749 | €11,584 | -€3,165 | -21.5% |
| Other amounts receivable | 41 | €43,097 | €41,636 | -€1,461 | -3.4% |
| Cash at bank and in hand | 54/58 | €129,143 | €186,659 | +€57,516 | +44.5% |
| Deferred charges and accrued income | 490/1 | €1,870 | €4,955 | +€3,085 | +165% |
| Total equity and liabilities | 10/49 | €570,882 | €596,511 | +€25,630 | +4.5% |
| Equity | 10/15 | €310,280 | €329,660 | +€19,380 | +6.2% |
| Contributions | 10/11 | €195,800 | €195,800 | = | 0.0% |
| Reserves | 13 | €190,216 | €190,216 | = | 0.0% |
| Non-distributable reserves | 130/1 | €69,580 | €69,580 | = | 0.0% |
| Reserves not available under the articles | 1311 | €69,580 | €69,580 | = | 0.0% |
| Distributable reserves | 133 | €120,636 | €120,636 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,736 | -€56,356 | +€19,380 | +25.6% |
| Amounts payable | 17/49 | €260,602 | €266,851 | +€6,249 | +2.4% |
| Amounts payable within one year | 42/48 | €256,691 | €262,385 | +€5,694 | +2.2% |
| Trade debts | 44 | €2,461 | €944 | -€1,518 | -61.7% |
| Suppliers | 440/4 | €2,461 | €944 | -€1,518 | -61.7% |
| Taxes, remuneration and social security | 45 | €6,994 | €5,205 | -€1,789 | -25.6% |
| Taxes | 450/3 | €6,994 | €5,205 | -€1,789 | -25.6% |
| Other amounts payable | 47/48 | €247,235 | €256,236 | +€9,001 | +3.6% |
| Accrued charges and deferred income | 492/3 | €3,911 | €4,466 | +€555 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,017 | €30,346 | -€12,671 | -29.5% |
| Other operating charges | 640/8 | €8,227 | €8,362 | +€135 | +1.6% |
| Gross operating margin | 9900 | €57,305 | €74,392 | +€17,087 | +29.8% |
| Operating profit (loss) | 9901 | €6,061 | €35,684 | +€29,623 | +489% |
| Financial income | 75/76B | €6,690 | €964 | -€5,727 | -85.6% |
| Recurring financial income | 75 | €6,690 | €964 | -€5,727 | -85.6% |
| Financial charges | 65/66B | €24,191 | €17,058 | -€7,133 | -29.5% |
| Recurring financial charges | 65 | €24,191 | €17,058 | -€7,133 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,440 | €19,590 | +€31,030 | |
| Income taxes | 67/77 | €266 | €210 | -€57 | -21.3% |
| Profit (loss) for the period | 9904 | -€11,706 | €19,380 | +€31,087 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,706 | €19,380 | +€31,087 |
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 13 October 2026 via checked.be.