Welbouw: 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.
Welbouw
Largest movements
- Cash +€599,167
up €599,167 (+1,604%), from €37,361 to €636,528
- Stocks and contracts +€163,281
up €163,281 (+17.7%), from €922,795 to €1.1m
- Tangible fixed assets -€47,750
down €47,750 (-48.3%), from €98,852 to €51,102
of which Furniture and vehicles: -€39,992
- Other debts +€360,133
up €360,133 (+59.0%), from €610,396 to €970,529
- Reserves +€156,995
up €156,995 (+65.3%), from €240,329 to €397,324
- Trade debts +€143,000
up €143,000 (+120%), from €118,770 to €261,771
- Tax, wage and social debts +€82,351
new in 2025: €82,351
- Debts after one year -€42,768
down €42,768 (-100%), from €42,768 to €0
- Gross operating margin +€310,246
up €310,246, from -€11,534 to €298,712
- Taxes +€42,715
up €42,715, from -€5,338 to €37,377
- Financial charges +€37,132
up €37,132 (+193%), from €19,267 to €56,399
- Depreciation +€16,557
up €16,557 (+53.1%), from €31,192 to €47,750
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,073,933 | €1,780,405 | +€706,472 | +65.8% |
| Fixed assets | 21/28 | €103,352 | €55,602 | -€47,750 | -46.2% |
| Tangible fixed assets | 22/27 | €98,852 | €51,102 | -€47,750 | -48.3% |
| Plant, machinery and equipment | 23 | €10,633 | €2,875 | -€7,758 | -73.0% |
| Furniture and vehicles | 24 | €88,219 | €48,227 | -€39,992 | -45.3% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €970,582 | €1,724,804 | +€754,222 | +77.7% |
| Stocks and contracts in progress | 3 | €922,795 | €1,086,077 | +€163,281 | +17.7% |
| Stocks | 30/36 | €922,795 | €1,086,077 | +€163,281 | +17.7% |
| Amounts receivable within one year | 40/41 | €10,426 | €0 | -€10,426 | -100% |
| Other amounts receivable | 41 | €10,426 | €0 | -€10,426 | -100% |
| Cash at bank and in hand | 54/58 | €37,361 | €636,528 | +€599,167 | +1,604% |
| Deferred charges and accrued income | 490/1 | - | €2,199 | +€2,199 | |
| Total equity and liabilities | 10/49 | €1,073,933 | €1,780,405 | +€706,472 | +65.8% |
| Equity | 10/15 | €252,729 | €409,724 | +€156,995 | +62.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €240,329 | €397,324 | +€156,995 | +65.3% |
| Distributable reserves | 133 | €240,329 | €397,324 | +€156,995 | +65.3% |
| Amounts payable | 17/49 | €821,205 | €1,370,681 | +€549,477 | +66.9% |
| Amounts payable after more than one year | 17 | €42,768 | €0 | -€42,768 | -100% |
| Financial debts | 170/4 | €42,768 | €0 | -€42,768 | -100% |
| Amounts payable within one year | 42/48 | €760,767 | €1,341,466 | +€580,698 | +76.3% |
| Current portion of amounts payable after more than one year | 42 | €31,601 | €26,815 | -€4,786 | -15.1% |
| Trade debts | 44 | €118,770 | €261,771 | +€143,000 | +120% |
| Suppliers | 440/4 | €118,770 | €261,771 | +€143,000 | +120% |
| Taxes, remuneration and social security | 45 | - | €82,351 | +€82,351 | |
| Taxes | 450/3 | - | €82,351 | +€82,351 | |
| Other amounts payable | 47/48 | €610,396 | €970,529 | +€360,133 | +59.0% |
| Accrued charges and deferred income | 492/3 | €17,669 | €29,215 | +€11,546 | +65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,192 | €47,750 | +€16,557 | +53.1% |
| Other operating charges | 640/8 | €619 | €1,247 | +€628 | +101% |
| Gross operating margin | 9900 | -€11,534 | €298,712 | +€310,246 | |
| Operating profit (loss) | 9901 | -€43,346 | €249,715 | +€293,061 | |
| Financial income | 75/76B | €14 | €1,057 | +€1,043 | +7,692% |
| Recurring financial income | 75 | €14 | €1,057 | +€1,043 | +7,692% |
| Financial charges | 65/66B | €19,267 | €56,399 | +€37,132 | +193% |
| Recurring financial charges | 65 | €19,267 | €56,399 | +€37,132 | +193% |
| Profit (loss) for the period before taxes | 9903 | -€62,599 | €194,373 | +€256,971 | |
| Income taxes | 67/77 | -€5,338 | €37,377 | +€42,715 | |
| Profit (loss) for the period | 9904 | -€57,261 | €156,995 | +€214,257 | |
| Profit (loss) for the period to be appropriated | 9905 | -€57,261 | €156,995 | +€214,257 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.