WELAKO: 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.
WELAKO
Largest movements
- Cash +€262,439
up €262,439 (+291.5%), from €90,045 to €352,485
mainly Net result for the year (+€211,889) and Current investments (+€146,730)
- Current investments -€146,730
down €146,730 (-53.4%), from €275,000 to €128,270
- Receivables within one year -€13,434
down €13,434 (-46.4%), from €28,928 to €15,494
of which Trade receivables: -€8,857
- Tangible fixed assets -€12,687
down €12,687 (-4.0%), from €315,197 to €302,510
of which Land and buildings: -€12,025
- Reserves +€117,648
up €117,648 (+22.7%), from €519,038 to €636,686
- Other debts -€41,090
down €41,090 (-27.7%), from €148,516 to €107,426
- Tax, wage and social debts +€10,771
up €10,771 (+45.8%), from €23,506 to €34,276
of which Taxes: +€10,771
- Gross operating margin +€135,314
up €135,314 (+72.8%), from €185,956 to €321,270
- Taxes +€42,089
up €42,089 (+80.9%), from €52,033 to €94,121
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 | €711,641 | €798,759 | +€87,118 | +12.2% |
| Fixed assets | 21/28 | €315,197 | €302,510 | -€12,687 | -4.0% |
| Tangible fixed assets | 22/27 | €315,197 | €302,510 | -€12,687 | -4.0% |
| Land and buildings | 22 | €299,581 | €287,556 | -€12,025 | -4.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €15,616 | €14,954 | -€662 | -4.2% |
| Current assets | 29/58 | €396,444 | €496,249 | +€99,805 | +25.2% |
| Amounts receivable within one year | 40/41 | €28,928 | €15,494 | -€13,434 | -46.4% |
| Trade receivables | 40 | €24,351 | €15,494 | -€8,857 | -36.4% |
| Other amounts receivable | 41 | €4,577 | €0 | -€4,577 | -100.0% |
| Current investments | 50/53 | €275,000 | €128,270 | -€146,730 | -53.4% |
| Cash at bank and in hand | 54/58 | €90,045 | €352,485 | +€262,439 | +291.5% |
| Deferred charges and accrued income | 490/1 | €2,471 | €0 | -€2,471 | -100.0% |
| Total equity and liabilities | 10/49 | €711,641 | €798,759 | +€87,118 | +12.2% |
| Equity | 10/15 | €537,638 | €655,286 | +€117,648 | +21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €519,038 | €636,686 | +€117,648 | +22.7% |
| Distributable reserves | 133 | €519,038 | €636,686 | +€117,648 | +22.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €174,003 | €143,473 | -€30,530 | -17.5% |
| Amounts payable within one year | 42/48 | €174,003 | €143,473 | -€30,530 | -17.5% |
| Trade debts | 44 | €1,982 | €1,770 | -€211 | -10.7% |
| Suppliers | 440/4 | €1,982 | €1,770 | -€211 | -10.7% |
| Taxes, remuneration and social security | 45 | €23,506 | €34,276 | +€10,771 | +45.8% |
| Taxes | 450/3 | €23,506 | €34,276 | +€10,771 | +45.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €148,516 | €107,426 | -€41,090 | -27.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,843 | €12,687 | -€156 | -1.2% |
| Other operating charges | 640/8 | €2,220 | €2,025 | -€195 | -8.8% |
| Gross operating margin | 9900 | €185,956 | €321,270 | +€135,314 | +72.8% |
| Operating profit (loss) | 9901 | €170,892 | €306,558 | +€135,665 | +79.4% |
| Financial income | 75/76B | €5,259 | €3,406 | -€1,852 | -35.2% |
| Recurring financial income | 75 | €5,259 | €3,406 | -€1,852 | -35.2% |
| Financial charges | 65/66B | €2,961 | €3,954 | +€992 | +33.5% |
| Recurring financial charges | 65 | €2,961 | €3,954 | +€992 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €173,190 | €306,010 | +€132,820 | +76.7% |
| Income taxes | 67/77 | €52,033 | €94,121 | +€42,089 | +80.9% |
| Profit (loss) for the period | 9904 | €121,157 | €211,889 | +€90,732 | +74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €121,157 | €211,889 | +€90,732 | +74.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.