WELDING SERVICES: 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.
What changed
WELDING SERVICES
NACE 46.649, Wholesale of other machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€44,925
2024 · €125,090-€80,165
Equity
€1.1m
2024 · €1.7m-€674,392
Cash
€187,583
2024 · €201,427-€13,844
Balance sheet total
€1.8m
2024 · €2.4m-€631,298
Largest movements
Assets
- Tangible fixed assets -€693,767
down €693,767 (-74.0%), from €937,880 to €244,113
of which Land and buildings: -€719,316
- Stocks and contracts +€101,727
up €101,727 (+14.1%), from €720,038 to €821,765
Equity and liabilities
- Reserves -€671,892
down €671,892 (-40.1%), from €1.7m to €1.0m
of which Distributable reserves: -€671,642
- Other debts +€91,359
up €91,359 (+137.5%), from €66,461 to €157,821
- Tax, wage and social debts +€38,391
up €38,391 (+27.9%), from €137,500 to €175,891
of which Remuneration and social security: +€30,541
- Current portion of long-term debt -€32,735
down €32,735 (-39.0%), from €83,919 to €51,184
Income statement
- Staff costs +€186,152
up €186,152 (+36.1%), from €515,132 to €701,284
- Gross operating margin +€58,275
up €58,275 (+7.4%), from €784,553 to €842,828
- Taxes -€25,672
down €25,672 (-58.4%), from €43,977 to €18,305
- Depreciation -€13,252
down €13,252 (-15.4%), from €85,811 to €72,558
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
€125,090
Gross operating margin
+€58,275
Staff costs
-€186,152
Depreciation
+€13,252
Write-downs
+€4,121
Other operating charges
+€4,360
Financial income
-€2,933
Financial charges
+€3,240
Taxes
+€25,672
Result 2025
€44,925
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.
From operations
+€146,445
Investment
+€622,927
Financing
-€783,217
Cash 2024
€201,427
From operations (derived)
+€146,445
Net result for the year
+€44,925
Depreciation
+€72,558
Stocks and contracts
-€101,727
Receivables within one year
+€24,103
Smaller working-capital items
+€707
Trade debts
-€6,805
Tax, wage and social debts
+€38,391
Advances received
-€17,067
Other debts
+€91,359
Investment (derived)
+€622,927
Investment in fixed assets (net)
+€622,927
Financing
-€783,217
Debts after one year
-€18,939
Current portion of long-term debt
-€32,735
Short-term financial debts
-€12,226
Contributions, distributions and other
-€719,316
Cash 2025
€187,583
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,426,551 | €1,795,252 | -€631,298 | -26.0% |
| Fixed assets | 21/28 | €945,726 | €250,241 | -€695,486 | -73.5% |
| Intangible fixed assets | 21 | €7,767 | €6,048 | -€1,719 | -22.1% |
| Tangible fixed assets | 22/27 | €937,880 | €244,113 | -€693,767 | -74.0% |
| Land and buildings | 22 | €719,316 | €0 | -€719,316 | -100.0% |
| Plant, machinery and equipment | 23 | €81,861 | €131,992 | +€50,130 | +61.2% |
| Furniture and vehicles | 24 | €45,414 | €33,766 | -€11,648 | -25.6% |
| Leasing and similar rights | 25 | €91,288 | €71,485 | -€19,803 | -21.7% |
| Other tangible fixed assets | 26 | - | €6,870 | +€6,870 | |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €1,480,824 | €1,545,012 | +€64,187 | +4.3% |
| Stocks and contracts in progress | 3 | €720,038 | €821,765 | +€101,727 | +14.1% |
| Stocks | 30/36 | €720,038 | €821,765 | +€101,727 | +14.1% |
| Amounts receivable within one year | 40/41 | €553,070 | €528,967 | -€24,103 | -4.4% |
| Trade receivables | 40 | €549,094 | €524,911 | -€24,183 | -4.4% |
| Other amounts receivable | 41 | €3,976 | €4,056 | +€80 | +2.0% |
| Cash at bank and in hand | 54/58 | €201,427 | €187,583 | -€13,844 | -6.9% |
| Deferred charges and accrued income | 490/1 | €6,289 | €6,697 | +€408 | +6.5% |
| Total equity and liabilities | 10/49 | €2,426,551 | €1,795,252 | -€631,298 | -26.0% |
| Equity | 10/15 | €1,740,753 | €1,066,362 | -€674,392 | -38.7% |
| Contributions | 10/11 | €64,000 | €61,500 | -€2,500 | -3.9% |
| Capital | 10 | €64,000 | €61,500 | -€2,500 | -3.9% |
| Issued capital | 100 | €64,000 | €61,500 | -€2,500 | -3.9% |
| Reserves | 13 | €1,676,753 | €1,004,862 | -€671,892 | -40.1% |
| Non-distributable reserves | 130/1 | €6,400 | €6,150 | -€250 | -3.9% |
| Legal reserve | 130 | €6,400 | €6,150 | -€250 | -3.9% |
| Distributable reserves | 133 | €1,670,353 | €998,712 | -€671,642 | -40.2% |
| Amounts payable | 17/49 | €685,797 | €728,891 | +€43,093 | +6.3% |
| Amounts payable after more than one year | 17 | €55,316 | €36,377 | -€18,939 | -34.2% |
| Financial debts | 170/4 | €55,316 | €36,377 | -€18,939 | -34.2% |
| Amounts payable within one year | 42/48 | €621,022 | €681,939 | +€60,918 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €83,919 | €51,184 | -€32,735 | -39.0% |
| Financial debts | 43 | €12,226 | €0 | -€12,226 | -100.0% |
| Credit institutions | 430/8 | €12,226 | €0 | -€12,226 | -100.0% |
| Trade debts | 44 | €292,463 | €285,658 | -€6,805 | -2.3% |
| Suppliers | 440/4 | €292,463 | €285,658 | -€6,805 | -2.3% |
| Advances received on contracts in progress | 46 | €28,453 | €11,386 | -€17,067 | -60.0% |
| Taxes, remuneration and social security | 45 | €137,500 | €175,891 | +€38,391 | +27.9% |
| Taxes | 450/3 | €65,158 | €73,008 | +€7,850 | +12.0% |
| Remuneration and social security | 454/9 | €72,342 | €102,883 | +€30,541 | +42.2% |
| Other amounts payable | 47/48 | €66,461 | €157,821 | +€91,359 | +137.5% |
| Accrued charges and deferred income | 492/3 | €9,460 | €10,575 | +€1,115 | +11.8% |
| Non-recurring operating income | 76A | €21,150 | €30,987 | +€9,837 | +46.5% |
| Remuneration, social security and pensions | 62 | €515,132 | €701,284 | +€186,152 | +36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,811 | €72,558 | -€13,252 | -15.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,121 | €0 | -€4,121 | -100.0% |
| Other operating charges | 640/8 | €12,240 | €7,881 | -€4,360 | -35.6% |
| Gross operating margin | 9900 | €784,553 | €842,828 | +€58,275 | +7.4% |
| Operating profit (loss) | 9901 | €167,249 | €61,106 | -€106,143 | -63.5% |
| Financial income | 75/76B | €13,131 | €10,198 | -€2,933 | -22.3% |
| Recurring financial income | 75 | €13,131 | €10,198 | -€2,933 | -22.3% |
| Financial charges | 65/66B | €11,314 | €8,074 | -€3,240 | -28.6% |
| Recurring financial charges | 65 | €11,314 | €8,074 | -€3,240 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €169,066 | €63,230 | -€105,837 | -62.6% |
| Income taxes | 67/77 | €43,977 | €18,305 | -€25,672 | -58.4% |
| Profit (loss) for the period | 9904 | €125,090 | €44,925 | -€80,165 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €125,090 | €44,925 | -€80,165 | -64.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.