Welding Company: 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.
Welding Company
Largest movements
- Receivables within one year -€2.1m
down €2.1m (-58.0%), from €3.6m to €1.5m
of which Trade receivables: -€1.7m
- Cash +€1.5m
up €1.5m (+58.6%), from €2.6m to €4.2m
mainly Receivables within one year (+€2.1m) and Stocks and contracts (+€344,861)
- Stocks and contracts -€344,861
down €344,861 (-12.3%), from €2.8m to €2.5m
- Tangible fixed assets -€183,052
down €183,052 (-40.2%), from €455,284 to €272,232
of which Furniture and vehicles: -€137,168
- Reserves -€667,267
down €667,267 (-89.4%), from €746,351 to €79,084
of which Distributable reserves: -€667,267
- Profit (loss) carried forward -€260,016
new in 2025: -€260,016
- Other debts -€178,515
down €178,515 (-2.3%), from €7.7m to €7.6m
- Trade debts +€114,411
up €114,411 (+22.2%), from €514,268 to €628,679
- Gross operating margin -€112,894
down €112,894, from €34,319 to -€78,575
- Staff costs -€102,579
down €102,579 (-14.8%), from €694,385 to €591,806
- Taxes +€4,959
up €4,959, from -€2,554 to €2,405
- Other operating charges -€3,760
down €3,760 (-35.0%), from €10,736 to €6,976
- Financial income -€1,627
down €1,627 (-3.5%), from €46,926 to €45,299
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,686,504 | €8,651,272 | -€1.0m | -10.7% |
| Fixed assets | 21/28 | €460,891 | €277,839 | -€183,052 | -39.7% |
| Tangible fixed assets | 22/27 | €455,284 | €272,232 | -€183,052 | -40.2% |
| Land and buildings | 22 | - | €51,859 | +€51,859 | |
| Plant, machinery and equipment | 23 | €55,314 | €31,593 | -€23,721 | -42.9% |
| Furniture and vehicles | 24 | €324,999 | €187,831 | -€137,168 | -42.2% |
| Other tangible fixed assets | 26 | €74,971 | €949 | -€74,022 | -98.7% |
| Financial fixed assets | 28 | €5,608 | €5,608 | = | 0.0% |
| Current assets | 29/58 | €9,225,613 | €8,373,432 | -€852,181 | -9.2% |
| Amounts receivable after more than one year | 29 | €117,034 | €116,176 | -€858 | -0.7% |
| Other amounts receivable | 291 | €117,034 | €116,176 | -€858 | -0.7% |
| Stocks and contracts in progress | 3 | €2,803,575 | €2,458,714 | -€344,861 | -12.3% |
| Stocks | 30/36 | €2,803,575 | €2,458,714 | -€344,861 | -12.3% |
| Amounts receivable within one year | 40/41 | €3,575,130 | €1,501,710 | -€2.1m | -58.0% |
| Trade receivables | 40 | €2,941,754 | €1,259,858 | -€1.7m | -57.2% |
| Other amounts receivable | 41 | €633,376 | €241,851 | -€391,524 | -61.8% |
| Cash at bank and in hand | 54/58 | €2,620,612 | €4,157,504 | +€1.5m | +58.6% |
| Deferred charges and accrued income | 490/1 | €109,261 | €139,328 | +€30,067 | +27.5% |
| Total equity and liabilities | 10/49 | €9,686,504 | €8,651,272 | -€1.0m | -10.7% |
| Equity | 10/15 | €956,351 | €29,067 | -€927,284 | -97.0% |
| Contributions | 10/11 | €210,000 | €210,000 | = | 0.0% |
| Capital | 10 | €210,000 | €210,000 | = | 0.0% |
| Issued capital | 100 | €210,000 | €210,000 | = | 0.0% |
| Reserves | 13 | €746,351 | €79,084 | -€667,267 | -89.4% |
| Non-distributable reserves | 130/1 | €21,000 | €21,000 | = | 0.0% |
| Legal reserve | 130 | €21,000 | €21,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €58,084 | €58,084 | = | 0.0% |
| Distributable reserves | 133 | €667,267 | €0 | -€667,267 | -100% |
| Profit (loss) carried forward | 14 | - | -€260,016 | -€260,016 | |
| Amounts payable | 17/49 | €8,730,153 | €8,622,204 | -€107,949 | -1.2% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,314,131 | €8,257,745 | -€56,385 | -0.7% |
| Trade debts | 44 | €514,268 | €628,679 | +€114,411 | +22.2% |
| Suppliers | 440/4 | €514,268 | €628,679 | +€114,411 | +22.2% |
| Taxes, remuneration and social security | 45 | €50,199 | €57,918 | +€7,719 | +15.4% |
| Taxes | 450/3 | €219 | €6,563 | +€6,344 | +2,902% |
| Remuneration and social security | 454/9 | €49,981 | €51,355 | +€1,375 | +2.8% |
| Other amounts payable | 47/48 | €7,749,663 | €7,571,148 | -€178,515 | -2.3% |
| Accrued charges and deferred income | 492/3 | €166,023 | €114,459 | -€51,564 | -31.1% |
| Non-recurring operating income | 76A | €16,263 | €93 | -€16,170 | -99.4% |
| Remuneration, social security and pensions | 62 | €694,385 | €591,806 | -€102,579 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,628 | €228,955 | +€326 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,000 | €60,000 | = | 0.0% |
| Other operating charges | 640/8 | €10,736 | €6,976 | -€3,760 | -35.0% |
| Gross operating margin | 9900 | €34,319 | -€78,575 | -€112,894 | |
| Operating profit (loss) | 9901 | -€959,430 | -€966,312 | -€6,881 | -0.7% |
| Financial income | 75/76B | €46,926 | €45,299 | -€1,627 | -3.5% |
| Recurring financial income | 75 | €46,926 | €45,299 | -€1,627 | -3.5% |
| Financial charges | 65/66B | €5,443 | €3,866 | -€1,577 | -29.0% |
| Recurring financial charges | 65 | €5,443 | €3,866 | -€1,577 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | -€917,947 | -€924,879 | -€6,931 | -0.8% |
| Income taxes | 67/77 | -€2,554 | €2,405 | +€4,959 | |
| Profit (loss) for the period | 9904 | -€915,394 | -€927,284 | -€11,890 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€915,394 | -€927,284 | -€11,890 | -1.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.