WEL'COM: 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.
WEL'COM
Largest movements
- Receivables within one year -€25,706
down €25,706 (-14.2%), from €180,816 to €155,110
of which Other amounts receivable: -€49,389
- Cash -€13,825
no longer reported in 2025 (was €13,825)
mainly Net result for the year (-€32,846) and Tax, wage and social debts (-€22,651)
- Tangible fixed assets -€2,965
down €2,965 (-22.3%), from €13,297 to €10,332
of which Other tangible fixed assets: -€2,494
- Profit (loss) carried forward -€32,846
down €32,846 (-20.1%), from €163,087 to €130,241
- Tax, wage and social debts -€22,651
down €22,651 (-50.5%), from €44,885 to €22,234
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Gross operating margin -€81,690
down €81,690, from €47,289 to -€34,401
- Taxes -€10,162
down €10,162 (-98.5%), from €10,313 to €151
- Financial income +€1,449
up €1,449 (+21.1%), from €6,855 to €8,304
- Financial charges -€621
down €621 (-16.1%), from €3,854 to €3,234
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 | €214,792 | €173,746 | -€41,046 | -19.1% |
| Fixed assets | 21/28 | €13,297 | €10,332 | -€2,965 | -22.3% |
| Tangible fixed assets | 22/27 | €13,297 | €10,332 | -€2,965 | -22.3% |
| Furniture and vehicles | 24 | €603 | €132 | -€471 | -78.2% |
| Other tangible fixed assets | 26 | €12,695 | €10,201 | -€2,494 | -19.6% |
| Current assets | 29/58 | €201,495 | €163,414 | -€38,081 | -18.9% |
| Amounts receivable within one year | 40/41 | €180,816 | €155,110 | -€25,706 | -14.2% |
| Trade receivables | 40 | €7,040 | €30,723 | +€23,683 | +336.4% |
| Other amounts receivable | 41 | €173,776 | €124,387 | -€49,389 | -28.4% |
| Cash at bank and in hand | 54/58 | €13,825 | - | -€13,825 | |
| Deferred charges and accrued income | 490/1 | €6,855 | €8,304 | +€1,449 | +21.1% |
| Total equity and liabilities | 10/49 | €214,792 | €173,746 | -€41,046 | -19.1% |
| Equity | 10/15 | €169,907 | €149,461 | -€20,446 | -12.0% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €163,087 | €130,241 | -€32,846 | -20.1% |
| Amounts payable | 17/49 | €44,885 | €24,285 | -€20,600 | -45.9% |
| Amounts payable within one year | 42/48 | €44,885 | €24,285 | -€20,600 | -45.9% |
| Financial debts | 43 | - | €578 | +€578 | |
| Credit institutions | 430/8 | - | €578 | +€578 | |
| Trade debts | 44 | - | €1,473 | +€1,473 | |
| Suppliers | 440/4 | - | €1,473 | +€1,473 | |
| Taxes, remuneration and social security | 45 | €44,885 | €22,234 | -€22,651 | -50.5% |
| Taxes | 450/3 | €44,885 | €22,234 | -€22,651 | -50.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,965 | €2,965 | -€1 | 0.0% |
| Other operating charges | 640/8 | €778 | €400 | -€378 | -48.6% |
| Gross operating margin | 9900 | €47,289 | -€34,401 | -€81,690 | |
| Operating profit (loss) | 9901 | €43,546 | -€37,765 | -€81,312 | |
| Financial income | 75/76B | €6,855 | €8,304 | +€1,449 | +21.1% |
| Recurring financial income | 75 | €6,855 | €8,304 | +€1,449 | +21.1% |
| Financial charges | 65/66B | €3,854 | €3,234 | -€621 | -16.1% |
| Recurring financial charges | 65 | €3,854 | €3,234 | -€621 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €46,547 | -€32,695 | -€79,242 | |
| Income taxes | 67/77 | €10,313 | €151 | -€10,162 | -98.5% |
| Profit (loss) for the period | 9904 | €36,234 | -€32,846 | -€69,080 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,234 | -€32,846 | -€69,080 |
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 6 October 2026 via checked.be.