WELCOM INVEST: what changed
What changed
WELCOM INVEST
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
-€16,253
2024 · -€33,674+€17,421
Equity
-€241,630
2024 · -€225,377-€16,253
Cash
€138,081
2024 · €20,834+€117,248
Balance sheet total
€1.2m
2024 · €1.0m+€151,710
Largest movements
Assets
- Cash +€117,248
up €117,248 (+563%), from €20,834 to €138,081
mainly Debts after one year (+€450,985) and Other debts (+€63,326)
- Stocks and contracts +€31,740
up €31,740 (+3.3%), from €969,616 to €1.0m
Equity and liabilities
- Debts after one year +€450,985
up €450,985 (+175%), from €257,994 to €708,979
of which Financial debts: +€444,285
- Short-term financial debts -€320,300
down €320,300 (-54.2%), from €591,300 to €271,000
- Other debts +€63,326
up €63,326 (+21.5%), from €295,101 to €358,428
- Tax, wage and social debts -€30,221
down €30,221 (-98.1%), from €30,816 to €596
- Profit (loss) carried forward -€16,253
down €16,253 (-6.5%), from -€250,377 to -€266,630
Income statement
- Other operating charges -€9,305
down €9,305 (-81.0%), from €11,493 to €2,188
- Financial charges -€6,698
down €6,698 (-13.0%), from €51,409 to €44,711
- Gross operating margin +€1,189
up €1,189 (+3.9%), from €30,391 to €31,580
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€33,674
Gross operating margin
+€1,189
Depreciation
+€239
Other operating charges
+€9,305
Financial income
+€0
Financial charges
+€6,698
Taxes
-€11
Result 2025
-€16,253
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€27,152
Investment
€0
Financing
+€144,400
Cash 2024
€20,834
From operations (derived)
-€27,152
Net result for the year
-€16,253
Depreciation
+€339
Stocks and contracts
-€31,740
Receivables within one year
-€2,503
Deferred charges and accrued income
-€558
Trade debts
-€7,705
Tax, wage and social debts
-€30,221
Other debts
+€63,326
Accrued charges and deferred income
-€1,838
Financing
+€144,400
Debts after one year
+€450,985
Current portion of long-term debt
+€13,715
Short-term financial debts
-€320,300
Cash 2025
€138,081
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,043,834 | €1,195,544 | +€151,710 | +14.5% |
| Fixed assets | 21/28 | €6,353 | €6,014 | -€339 | -5.3% |
| Tangible fixed assets | 22/27 | €352 | €13 | -€339 | -96.4% |
| Furniture and vehicles | 24 | €352 | €13 | -€339 | -96.4% |
| Financial fixed assets | 28 | €6,001 | €6,001 | = | 0.0% |
| Current assets | 29/58 | €1,037,481 | €1,189,530 | +€152,049 | +14.7% |
| Stocks and contracts in progress | 3 | €969,616 | €1,001,356 | +€31,740 | +3.3% |
| Stocks | 30/36 | €969,616 | €1,001,356 | +€31,740 | +3.3% |
| Amounts receivable within one year | 40/41 | €44,539 | €47,042 | +€2,503 | +5.6% |
| Trade receivables | 40 | €44,539 | €46,680 | +€2,141 | +4.8% |
| Other amounts receivable | 41 | €0 | €362 | +€362 | |
| Cash at bank and in hand | 54/58 | €20,834 | €138,081 | +€117,248 | +563% |
| Deferred charges and accrued income | 490/1 | €2,493 | €3,051 | +€558 | +22.4% |
| Total equity and liabilities | 10/49 | €1,043,834 | €1,195,544 | +€151,710 | +14.5% |
| Equity | 10/15 | -€225,377 | -€241,630 | -€16,253 | -7.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€250,377 | -€266,630 | -€16,253 | -6.5% |
| Amounts payable | 17/49 | €1,269,212 | €1,437,174 | +€167,963 | +13.2% |
| Amounts payable after more than one year | 17 | €257,994 | €708,979 | +€450,985 | +175% |
| Financial debts | 170/4 | - | €444,285 | +€444,285 | |
| Other amounts payable | 178/9 | €257,994 | €264,694 | +€6,700 | +2.6% |
| Amounts payable within one year | 42/48 | €1,003,050 | €721,865 | -€281,185 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | - | €13,715 | +€13,715 | |
| Financial debts | 43 | €591,300 | €271,000 | -€320,300 | -54.2% |
| Credit institutions | 430/8 | €591,300 | €271,000 | -€320,300 | -54.2% |
| Trade debts | 44 | €85,832 | €78,127 | -€7,705 | -9.0% |
| Suppliers | 440/4 | €85,832 | €78,127 | -€7,705 | -9.0% |
| Taxes, remuneration and social security | 45 | €30,816 | €596 | -€30,221 | -98.1% |
| Taxes | 450/3 | €30,816 | €596 | -€30,221 | -98.1% |
| Other amounts payable | 47/48 | €295,101 | €358,428 | +€63,326 | +21.5% |
| Accrued charges and deferred income | 492/3 | €8,168 | €6,330 | -€1,838 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €578 | €339 | -€239 | -41.4% |
| Other operating charges | 640/8 | €11,493 | €2,188 | -€9,305 | -81.0% |
| Gross operating margin | 9900 | €30,391 | €31,580 | +€1,189 | +3.9% |
| Operating profit (loss) | 9901 | €18,319 | €29,053 | +€10,733 | +58.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €51,409 | €44,711 | -€6,698 | -13.0% |
| Recurring financial charges | 65 | €51,409 | €44,711 | -€6,698 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€33,090 | -€15,657 | +€17,432 | +52.7% |
| Income taxes | 67/77 | €584 | €596 | +€11 | +1.9% |
| Profit (loss) for the period | 9904 | -€33,674 | -€16,253 | +€17,421 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,674 | -€16,253 | +€17,421 | +51.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.