WELDOR: 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.
WELDOR
Largest movements
- Cash +€162,135
up €162,135 (+101%), from €161,103 to €323,237
mainly Net result for the year (+€173,000) and Accrued charges and deferred income (+€2,663)
- Reserves +€173,000
up €173,000 (+21.2%), from €817,950 to €990,951
of which Distributable reserves: +€164,350
- Gross operating margin -€15,990
down €15,990 (-6.4%), from €250,608 to €234,618
- Taxes -€4,033
down €4,033 (-6.5%), from €61,752 to €57,719
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 | €1,731,438 | €1,899,854 | +€168,416 | +9.7% |
| Fixed assets | 21/28 | €1,270,335 | €1,270,335 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,270,335 | €1,270,335 | = | 0.0% |
| Land and buildings | 22 | €1,270,335 | €1,270,335 | = | 0.0% |
| Current assets | 29/58 | €461,103 | €629,519 | +€168,416 | +36.5% |
| Amounts receivable within one year | 40/41 | €300,000 | €306,281 | +€6,281 | +2.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €300,000 | €306,281 | +€6,281 | +2.1% |
| Cash at bank and in hand | 54/58 | €161,103 | €323,237 | +€162,135 | +101% |
| Total equity and liabilities | 10/49 | €1,731,438 | €1,899,854 | +€168,416 | +9.7% |
| Equity | 10/15 | €1,566,950 | €1,739,951 | +€173,000 | +11.0% |
| Contributions | 10/11 | €749,000 | €749,000 | = | 0.0% |
| Capital | 10 | €749,000 | €749,000 | = | 0.0% |
| Issued capital | 100 | €749,000 | €749,000 | = | 0.0% |
| Reserves | 13 | €817,950 | €990,951 | +€173,000 | +21.2% |
| Non-distributable reserves | 130/1 | €57,769 | €66,419 | +€8,650 | +15.0% |
| Legal reserve | 130 | €57,769 | €66,419 | +€8,650 | +15.0% |
| Distributable reserves | 133 | €760,181 | €924,531 | +€164,350 | +21.6% |
| Amounts payable | 17/49 | €164,487 | €159,903 | -€4,584 | -2.8% |
| Amounts payable within one year | 42/48 | €154,358 | €147,110 | -€7,248 | -4.7% |
| Taxes, remuneration and social security | 45 | €6,752 | €0 | -€6,752 | -100% |
| Taxes | 450/3 | €6,752 | €0 | -€6,752 | -100% |
| Other amounts payable | 47/48 | €147,606 | €147,110 | -€496 | -0.3% |
| Accrued charges and deferred income | 492/3 | €10,130 | €12,793 | +€2,663 | +26.3% |
| Other operating charges | 640/8 | €1,093 | €1,169 | +€76 | +7.0% |
| Gross operating margin | 9900 | €250,608 | €234,618 | -€15,990 | -6.4% |
| Operating profit (loss) | 9901 | €249,515 | €233,449 | -€16,067 | -6.4% |
| Financial charges | 65/66B | €2,766 | €2,730 | -€36 | -1.3% |
| Recurring financial charges | 65 | €2,766 | €2,730 | -€36 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €246,750 | €230,719 | -€16,031 | -6.5% |
| Income taxes | 67/77 | €61,752 | €57,719 | -€4,033 | -6.5% |
| Profit (loss) for the period | 9904 | €184,998 | €173,000 | -€11,998 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €184,998 | €173,000 | -€11,998 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.