Welders: 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.
What changed
Welders
NACE 25.210, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€173,127
2024 · €57,721+€115,406
Equity
€3.6m
2024 · €3.4m+€141,958
Cash
€384,732
2024 · €535,803-€151,071
Balance sheet total
€11.0m
2024 · €10.8m+€276,782
Largest movements
Assets
- Receivables within one year +€769,155
up €769,155 (+37.6%), from €2.0m to €2.8m
of which Trade receivables: +€771,375
- Stocks and contracts -€342,541
down €342,541 (-7.3%), from €4.7m to €4.4m
of which Contracts in progress: -€261,156
- Cash -€151,071
down €151,071 (-28.2%), from €535,803 to €384,732
mainly Receivables within one year (-€769,155) and Advances received (-€613,281)
Equity and liabilities
- Advances received -€613,281
down €613,281 (-14.7%), from €4.2m to €3.6m
- Trade debts +€434,725
up €434,725 (+40.4%), from €1.1m to €1.5m
- Short-term financial debts +€252,133
up €252,133 (+18.4%), from €1.4m to €1.6m
of which Credit institutions: +€128,657
- Profit (loss) carried forward +€141,958
up €141,958 (+24.3%), from €585,331 to €727,289
Income statement
- Gross operating margin +€412,554
up €412,554 (+16.2%), from €2.5m to €3.0m
- Staff costs +€101,435
up €101,435 (+5.0%), from €2.0m to €2.1m
- Write-downs +€86,839
new in 2025: €86,839
- Financial income -€70,679
down €70,679 (-52.3%), from €135,049 to €64,370
of which Non-recurring financial income: -€119,800
- Taxes +€33,465
up €33,465 (+59.4%), from €56,295 to €89,760
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.
Result 2024
€57,721
Gross operating margin
+€412,554
Staff costs
-€101,435
Depreciation
-€475
Write-downs
-€86,839
Other operating charges
+€1,529
Other operating items
+€15,747
Financial income
-€70,679
Financial charges
-€21,530
Taxes
-€33,465
Result 2025
€173,127
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€144,939
Investment
-€304,937
Financing
+€298,805
Cash 2024
€535,803
From operations (derived)
-€144,939
Net result for the year
+€173,127
Depreciation
+€307,553
Stocks and contracts
+€342,541
Receivables within one year
-€769,155
Deferred charges and accrued income
-€3,855
Trade debts
+€434,725
Tax, wage and social debts
-€68,113
Advances received
-€613,281
Other debts
+€31,169
Accrued charges and deferred income
+€20,349
Investment (derived)
-€304,937
Investment in fixed assets (net)
-€304,937
Financing
+€298,805
Debts after one year
+€69,748
Current portion of long-term debt
+€8,093
Short-term financial debts
+€252,133
Contributions, distributions and other
-€31,169
Cash 2025
€384,732
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,769,166 | €11,045,948 | +€276,782 | +2.6% |
| Fixed assets | 21/28 | €3,411,194 | €3,408,578 | -€2,616 | -0.1% |
| Intangible fixed assets | 21 | €36,581 | €109,543 | +€72,962 | +199% |
| Tangible fixed assets | 22/27 | €3,374,391 | €3,298,813 | -€75,578 | -2.2% |
| Land and buildings | 22 | €2,653,000 | €2,615,598 | -€37,402 | -1.4% |
| Plant, machinery and equipment | 23 | €701,115 | €670,930 | -€30,185 | -4.3% |
| Furniture and vehicles | 24 | €20,276 | €12,285 | -€7,991 | -39.4% |
| Financial fixed assets | 28 | €222 | €222 | = | 0.0% |
| Current assets | 29/58 | €7,357,972 | €7,637,369 | +€279,398 | +3.8% |
| Stocks and contracts in progress | 3 | €4,723,950 | €4,381,409 | -€342,541 | -7.3% |
| Stocks | 30/36 | €856,071 | €774,686 | -€81,385 | -9.5% |
| Contracts in progress | 37 | €3,867,879 | €3,606,723 | -€261,156 | -6.8% |
| Amounts receivable within one year | 40/41 | €2,043,781 | €2,812,936 | +€769,155 | +37.6% |
| Trade receivables | 40 | €1,780,068 | €2,551,443 | +€771,375 | +43.3% |
| Other amounts receivable | 41 | €263,713 | €261,493 | -€2,220 | -0.8% |
| Cash at bank and in hand | 54/58 | €535,803 | €384,732 | -€151,071 | -28.2% |
| Deferred charges and accrued income | 490/1 | €54,437 | €58,292 | +€3,855 | +7.1% |
| Total equity and liabilities | 10/49 | €10,769,166 | €11,045,948 | +€276,782 | +2.6% |
| Equity | 10/15 | €3,432,029 | €3,573,987 | +€141,958 | +4.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €2,419,341 | €2,363,514 | -€55,827 | -2.3% |
| Reserves | 13 | €365,857 | €421,684 | +€55,827 | +15.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €248,052 | €248,052 | = | 0.0% |
| Distributable reserves | 133 | €111,654 | €167,482 | +€55,827 | +50.0% |
| Profit (loss) carried forward | 14 | €585,331 | €727,289 | +€141,958 | +24.3% |
| Amounts payable | 17/49 | €7,337,137 | €7,471,961 | +€134,823 | +1.8% |
| Amounts payable after more than one year | 17 | €232,753 | €302,501 | +€69,748 | +30.0% |
| Financial debts | 170/4 | €232,753 | €302,501 | +€69,748 | +30.0% |
| Amounts payable within one year | 42/48 | €7,104,384 | €7,149,110 | +€44,726 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €141,350 | €149,443 | +€8,093 | +5.7% |
| Financial debts | 43 | €1,371,904 | €1,624,037 | +€252,133 | +18.4% |
| Credit institutions | 430/8 | €1,371,904 | €1,500,562 | +€128,657 | +9.4% |
| Other loans | 439 | - | €123,475 | +€123,475 | |
| Trade debts | 44 | €1,075,001 | €1,509,726 | +€434,725 | +40.4% |
| Suppliers | 440/4 | €1,075,001 | €1,509,726 | +€434,725 | +40.4% |
| Advances received on contracts in progress | 46 | €4,180,335 | €3,567,054 | -€613,281 | -14.7% |
| Taxes, remuneration and social security | 45 | €335,794 | €267,681 | -€68,113 | -20.3% |
| Taxes | 450/3 | €66,991 | €15,080 | -€51,911 | -77.5% |
| Remuneration and social security | 454/9 | €268,803 | €252,601 | -€16,202 | -6.0% |
| Other amounts payable | 47/48 | €0 | €31,169 | +€31,169 | |
| Accrued charges and deferred income | 492/3 | €0 | €20,349 | +€20,349 | |
| Remuneration, social security and pensions | 62 | €2,037,989 | €2,139,424 | +€101,435 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €307,078 | €307,553 | +€475 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €86,839 | +€86,839 | |
| Other operating charges | 640/8 | €50,535 | €49,006 | -€1,529 | -3.0% |
| Non-recurring operating charges | 66A | €23,102 | €7,354 | -€15,747 | -68.2% |
| Gross operating margin | 9900 | €2,544,462 | €2,957,015 | +€412,554 | +16.2% |
| Operating profit (loss) | 9901 | €125,758 | €366,839 | +€241,080 | +192% |
| Financial income | 75/76B | €135,049 | €64,370 | -€70,679 | -52.3% |
| Recurring financial income | 75 | €6,773 | €55,894 | +€49,121 | +725% |
| Non-recurring financial income | 76B | €128,276 | €8,476 | -€119,800 | -93.4% |
| Financial charges | 65/66B | €146,791 | €168,321 | +€21,530 | +14.7% |
| Recurring financial charges | 65 | €146,791 | €168,321 | +€21,530 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €114,016 | €262,887 | +€148,871 | +131% |
| Income taxes | 67/77 | €56,295 | €89,760 | +€33,465 | +59.4% |
| Profit (loss) for the period | 9904 | €57,721 | €173,127 | +€115,406 | +200% |
| Profit (loss) for the period to be appropriated | 9905 | €57,721 | €173,127 | +€115,406 | +200% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.