WELINVEST: what changed
What changed
WELINVEST
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€11,915
2024 · €24,473-€12,557
Equity
€249,537
2024 · €306,979-€57,442
Cash
€36,564
2024 · €34,287+€2,277
Balance sheet total
€1.0m
2024 · €670,874+€372,043
Largest movements
Assets
- Tangible fixed assets +€364,437
up €364,437 (+57.5%), from €633,847 to €998,285
Equity and liabilities
- Debts after one year +€385,087
up €385,087 (+153%), from €251,748 to €636,835
- Other debts +€66,117
up €66,117 (+181%), from €36,501 to €102,618
- Reserves -€57,442
down €57,442 (-19.9%), from €288,429 to €230,987
- Trade debts -€10,786
down €10,786 (-34.2%), from €31,514 to €20,728
- Current portion of long-term debt -€10,522
down €10,522 (-27.6%), from €38,141 to €27,620
Income statement
- Gross operating margin -€8,272
down €8,272 (-8.4%), from €98,791 to €90,519
- Taxes -€6,265
down €6,265 (-55.4%), from €11,309 to €5,044
- Depreciation +€5,428
up €5,428 (+10.8%), from €50,135 to €55,563
- Financial charges +€2,401
up €2,401 (+32.9%), from €7,294 to €9,696
- Other operating charges +€2,244
up €2,244 (+37.1%), from €6,057 to €8,301
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€24,473
Gross operating margin
-€8,272
Depreciation
-€5,428
Other operating charges
-€2,244
Financial income
-€478
Financial charges
-€2,401
Taxes
+€6,265
Result 2025
€11,915
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€117,068
Investment
-€420,000
Financing
+€305,209
Cash 2024
€34,287
From operations (derived)
+€117,068
Net result for the year
+€11,915
Depreciation
+€55,563
Receivables within one year
-€5,572
Smaller working-capital items
-€170
Trade debts
-€10,786
Other debts
+€66,117
Investment (derived)
-€420,000
Investment in fixed assets (net)
-€420,000
Financing
+€305,209
Debts after one year
+€385,087
Current portion of long-term debt
-€10,522
Contributions, distributions and other
-€69,357
Cash 2025
€36,564
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €670,874 | €1,042,917 | +€372,043 | +55.5% |
| Fixed assets | 21/28 | €633,847 | €998,285 | +€364,437 | +57.5% |
| Tangible fixed assets | 22/27 | €633,847 | €998,285 | +€364,437 | +57.5% |
| Land and buildings | 22 | €633,847 | €998,285 | +€364,437 | +57.5% |
| Current assets | 29/58 | €37,027 | €44,633 | +€7,606 | +20.5% |
| Amounts receivable within one year | 40/41 | €899 | €6,470 | +€5,572 | +620% |
| Other amounts receivable | 41 | €899 | €6,470 | +€5,572 | +620% |
| Cash at bank and in hand | 54/58 | €34,287 | €36,564 | +€2,277 | +6.6% |
| Deferred charges and accrued income | 490/1 | €1,840 | €1,598 | -€243 | -13.2% |
| Total equity and liabilities | 10/49 | €670,874 | €1,042,917 | +€372,043 | +55.5% |
| Equity | 10/15 | €306,979 | €249,537 | -€57,442 | -18.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €288,429 | €230,987 | -€57,442 | -19.9% |
| Distributable reserves | 133 | €288,429 | €230,987 | -€57,442 | -19.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €363,895 | €793,380 | +€429,485 | +118% |
| Amounts payable after more than one year | 17 | €251,748 | €636,835 | +€385,087 | +153% |
| Financial debts | 170/4 | €251,748 | €636,835 | +€385,087 | +153% |
| Amounts payable within one year | 42/48 | €112,147 | €156,544 | +€44,397 | +39.6% |
| Current portion of amounts payable after more than one year | 42 | €38,141 | €27,620 | -€10,522 | -27.6% |
| Trade debts | 44 | €31,514 | €20,728 | -€10,786 | -34.2% |
| Suppliers | 440/4 | €31,514 | €20,728 | -€10,786 | -34.2% |
| Taxes, remuneration and social security | 45 | €5,991 | €5,579 | -€412 | -6.9% |
| Taxes | 450/3 | €5,991 | €5,579 | -€412 | -6.9% |
| Other amounts payable | 47/48 | €36,501 | €102,618 | +€66,117 | +181% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,135 | €55,563 | +€5,428 | +10.8% |
| Other operating charges | 640/8 | €6,057 | €8,301 | +€2,244 | +37.1% |
| Gross operating margin | 9900 | €98,791 | €90,519 | -€8,272 | -8.4% |
| Operating profit (loss) | 9901 | €42,599 | €26,655 | -€15,944 | -37.4% |
| Financial income | 75/76B | €478 | €0 | -€478 | -100% |
| Recurring financial income | 75 | €478 | €0 | -€478 | -100% |
| Financial charges | 65/66B | €7,294 | €9,696 | +€2,401 | +32.9% |
| Recurring financial charges | 65 | €7,294 | €9,696 | +€2,401 | +32.9% |
| Profit (loss) for the period before taxes | 9903 | €35,782 | €16,959 | -€18,823 | -52.6% |
| Income taxes | 67/77 | €11,309 | €5,044 | -€6,265 | -55.4% |
| Profit (loss) for the period | 9904 | €24,473 | €11,915 | -€12,557 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,473 | €11,915 | -€12,557 | -51.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.