Welease: 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.
Welease
Largest movements
- Tangible fixed assets +€904,571
up €904,571 (+104.1%), from €869,361 to €1.8m
of which Leasing and similar rights: +€904,593
- Receivables within one year +€193,017
up €193,017 (+142.2%), from €135,760 to €328,777
of which Other amounts receivable: +€137,104
- Intangible fixed assets +€146,048
up €146,048 (+163.8%), from €89,186 to €235,234
- Cash +€111,525
up €111,525 (+596.9%), from €18,684 to €130,209
mainly Debts after one year (+€796,251) and Depreciation (+€626,868)
- Debts after one year +€796,251
up €796,251 (+139.9%), from €569,085 to €1.4m
- Current portion of long-term debt +€447,451
up €447,451 (+104.1%), from €429,977 to €877,429
- Trade debts +€66,413
up €66,413 (+37.1%), from €179,171 to €245,584
- Gross operating margin +€376,745
up €376,745 (+97.4%), from €386,713 to €763,459
- Depreciation +€265,315
up €265,315 (+73.4%), from €361,553 to €626,868
- Financial charges +€10,591
up €10,591 (+15.5%), from €68,535 to €79,126
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 | €1,286,561 | €2,617,477 | +€1.3m | +103.4% |
| Formation expenses | 20 | €10,326 | €7,150 | -€3,176 | -30.8% |
| Fixed assets | 21/28 | €958,547 | €2,009,165 | +€1.1m | +109.6% |
| Intangible fixed assets | 21 | €89,186 | €235,234 | +€146,048 | +163.8% |
| Tangible fixed assets | 22/27 | €869,361 | €1,773,932 | +€904,571 | +104.1% |
| Land and buildings | 22 | €624 | €305 | -€320 | -51.2% |
| Plant, machinery and equipment | 23 | €5,027 | €6,734 | +€1,707 | +33.9% |
| Furniture and vehicles | 24 | €2,813 | €2,032 | -€780 | -27.7% |
| Leasing and similar rights | 25 | €858,760 | €1,763,352 | +€904,593 | +105.3% |
| Other tangible fixed assets | 26 | €2,137 | €1,508 | -€629 | -29.4% |
| Current assets | 29/58 | €317,688 | €601,162 | +€283,474 | +89.2% |
| Amounts receivable within one year | 40/41 | €135,760 | €328,777 | +€193,017 | +142.2% |
| Trade receivables | 40 | €124,419 | €180,331 | +€55,913 | +44.9% |
| Other amounts receivable | 41 | €11,341 | €148,445 | +€137,104 | +1208.9% |
| Cash at bank and in hand | 54/58 | €18,684 | €130,209 | +€111,525 | +596.9% |
| Deferred charges and accrued income | 490/1 | €163,245 | €142,176 | -€21,068 | -12.9% |
| Total equity and liabilities | 10/49 | €1,286,561 | €2,617,477 | +€1.3m | +103.4% |
| Equity | 10/15 | -€3,545 | €10,848 | +€14,393 | |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,545 | -€64,152 | +€14,393 | +18.3% |
| Amounts payable | 17/49 | €1,290,107 | €2,606,629 | +€1.3m | +102.0% |
| Amounts payable after more than one year | 17 | €569,085 | €1,365,336 | +€796,251 | +139.9% |
| Financial debts | 170/4 | €569,085 | €1,365,336 | +€796,251 | +139.9% |
| Amounts payable within one year | 42/48 | €720,983 | €1,238,343 | +€517,360 | +71.8% |
| Current portion of amounts payable after more than one year | 42 | €429,977 | €877,429 | +€447,451 | +104.1% |
| Financial debts | 43 | €100,000 | €86,113 | -€13,887 | -13.9% |
| Credit institutions | 430/8 | €100,000 | €86,113 | -€13,887 | -13.9% |
| Trade debts | 44 | €179,171 | €245,584 | +€66,413 | +37.1% |
| Suppliers | 440/4 | €179,171 | €245,584 | +€66,413 | +37.1% |
| Taxes, remuneration and social security | 45 | €6,467 | €16,682 | +€10,214 | +157.9% |
| Taxes | 450/3 | €3,064 | €10,796 | +€7,732 | +252.4% |
| Remuneration and social security | 454/9 | €3,403 | €5,886 | +€2,482 | +72.9% |
| Other amounts payable | 47/48 | €5,368 | €12,536 | +€7,168 | +133.5% |
| Accrued charges and deferred income | 492/3 | €39 | €2,950 | +€2,911 | +7534.7% |
| Remuneration, social security and pensions | 62 | €35,066 | €39,483 | +€4,417 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €361,553 | €626,868 | +€265,315 | +73.4% |
| Other operating charges | 640/8 | €105 | €677 | +€572 | +544.7% |
| Non-recurring operating charges | 66A | - | €2,913 | +€2,913 | |
| Gross operating margin | 9900 | €386,713 | €763,459 | +€376,745 | +97.4% |
| Operating profit (loss) | 9901 | -€10,011 | €93,518 | +€103,529 | |
| Financial income | 75/76B | €1 | €1 | +€0 | +17.3% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +17.3% |
| Financial charges | 65/66B | €68,535 | €79,126 | +€10,591 | +15.5% |
| Recurring financial charges | 65 | €68,535 | €79,126 | +€10,591 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | -€78,545 | €14,393 | +€92,938 | |
| Profit (loss) for the period | 9904 | -€78,545 | €14,393 | +€92,938 | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,545 | €14,393 | +€92,938 |
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.