WELDMEN: 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.
WELDMEN
Largest movements
- Cash -€160,777
down €160,777 (-61.5%), from €261,432 to €100,656
mainly Other debts (-€200,670) and Contributions, distributions and other (-€140,000)
- Tangible fixed assets -€10,990
down €10,990 (-56.3%), from €19,516 to €8,526
of which Furniture and vehicles: -€10,171
- Receivables within one year +€5,870
up €5,870 (+5.3%), from €110,813 to €116,684
of which Other amounts receivable: +€6,691
- Other debts -€200,670
down €200,670 (-58.7%), from €341,864 to €141,194
- Trade debts +€30,543
up €30,543 (+177.0%), from €17,259 to €47,802
- Profit (loss) carried forward +€27,875
up €27,875 (+6492.3%), from €429 to €28,305
- Tax, wage and social debts -€18,019
down €18,019 (-42.0%), from €42,913 to €24,894
of which Taxes: -€16,412
- Current portion of long-term debt -€9,423
down €9,423 (-88.7%), from €10,627 to €1,204
- Gross operating margin -€29,172
down €29,172 (-9.0%), from €323,515 to €294,343
- Staff costs -€24,579
down €24,579 (-35.5%), from €69,220 to €44,641
- Write-downs +€12,250
new in 2025: €12,250
- Depreciation -€4,553
down €4,553 (-24.6%), from €18,542 to €13,990
- Taxes -€3,373
down €3,373 (-5.9%), from €56,774 to €53,401
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €415,583 | €244,804 | -€170,780 | -41.1% |
| Fixed assets | 21/28 | €41,247 | €27,257 | -€13,990 | -33.9% |
| Intangible fixed assets | 21 | €21,732 | €18,732 | -€3,000 | -13.8% |
| Tangible fixed assets | 22/27 | €19,516 | €8,526 | -€10,990 | -56.3% |
| Plant, machinery and equipment | 23 | €1,060 | €242 | -€818 | -77.2% |
| Furniture and vehicles | 24 | €18,455 | €8,284 | -€10,171 | -55.1% |
| Current assets | 29/58 | €374,336 | €217,547 | -€156,790 | -41.9% |
| Amounts receivable within one year | 40/41 | €110,813 | €116,684 | +€5,870 | +5.3% |
| Trade receivables | 40 | €110,786 | €109,966 | -€821 | -0.7% |
| Other amounts receivable | 41 | €27 | €6,718 | +€6,691 | +24799.7% |
| Cash at bank and in hand | 54/58 | €261,432 | €100,656 | -€160,777 | -61.5% |
| Deferred charges and accrued income | 490/1 | €2,091 | €207 | -€1,883 | -90.1% |
| Total equity and liabilities | 10/49 | €415,583 | €244,804 | -€170,780 | -41.1% |
| Equity | 10/15 | €1,429 | €29,305 | +€27,875 | +1950.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €429 | €28,305 | +€27,875 | +6492.3% |
| Amounts payable | 17/49 | €414,154 | €215,499 | -€198,655 | -48.0% |
| Amounts payable after more than one year | 17 | €1,204 | €0 | -€1,204 | -100.0% |
| Financial debts | 170/4 | €1,204 | €0 | -€1,204 | -100.0% |
| Amounts payable within one year | 42/48 | €412,663 | €215,094 | -€197,569 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €10,627 | €1,204 | -€9,423 | -88.7% |
| Trade debts | 44 | €17,259 | €47,802 | +€30,543 | +177.0% |
| Suppliers | 440/4 | €17,259 | €47,802 | +€30,543 | +177.0% |
| Taxes, remuneration and social security | 45 | €42,913 | €24,894 | -€18,019 | -42.0% |
| Taxes | 450/3 | €33,843 | €17,431 | -€16,412 | -48.5% |
| Remuneration and social security | 454/9 | €9,070 | €7,463 | -€1,608 | -17.7% |
| Other amounts payable | 47/48 | €341,864 | €141,194 | -€200,670 | -58.7% |
| Accrued charges and deferred income | 492/3 | €287 | €405 | +€118 | +41.0% |
| Remuneration, social security and pensions | 62 | €69,220 | €44,641 | -€24,579 | -35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,542 | €13,990 | -€4,553 | -24.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,250 | +€12,250 | |
| Other operating charges | 640/8 | €2,140 | €1,866 | -€274 | -12.8% |
| Gross operating margin | 9900 | €323,515 | €294,343 | -€29,172 | -9.0% |
| Operating profit (loss) | 9901 | €233,613 | €221,596 | -€12,017 | -5.1% |
| Financial income | 75/76B | €81 | €6 | -€75 | -92.2% |
| Recurring financial income | 75 | €81 | €6 | -€75 | -92.2% |
| Financial charges | 65/66B | €465 | €326 | -€139 | -29.9% |
| Recurring financial charges | 65 | €465 | €326 | -€139 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €233,229 | €221,277 | -€11,953 | -5.1% |
| Income taxes | 67/77 | €56,774 | €53,401 | -€3,373 | -5.9% |
| Profit (loss) for the period | 9904 | €176,456 | €167,875 | -€8,580 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €176,456 | €167,875 | -€8,580 | -4.9% |
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 10 October 2026 via checked.be.