WELKOM INDIA: what changed
WELKOM INDIA
Largest movements
- Tangible fixed assets -€10,196
down €10,196 (-18.4%), from €55,401 to €45,205
- Receivables within one year +€8,468
up €8,468 (+41.7%), from €20,320 to €28,787
- Cash -€2,650
down €2,650 (-44.5%), from €5,950 to €3,300
mainly Net result for the year (-€20,754) and Receivables within one year (-€8,468)
- Financial fixed assets -€2,205
no longer reported in 2025 (was €2,205)
- Profit (loss) carried forward -€20,754
down €20,754 (-49.9%), from €41,608 to €20,854
- Tax, wage and social debts +€10,679
up €10,679 (+47.9%), from €22,300 to €32,978
of which Remuneration and social security: +€13,982
- Trade debts +€4,277
up €4,277 (+112%), from €3,831 to €8,108
- Debts after one year -€4,094
down €4,094 (-65.9%), from €6,216 to €2,122
- Accrued charges and deferred income +€2,070
new in 2025: €2,070
- Gross operating margin -€21,523
down €21,523 (-30.7%), from €70,098 to €48,575
- Taxes -€5,747
no longer reported in 2025 (was €5,747)
- Other operating charges -€3,279
down €3,279 (-99.4%), from €3,299 to €21
- Financial charges -€3,240
down €3,240 (-65.4%), from €4,957 to €1,716
of which Non-recurring financial charges: -€3,644
- Staff costs -€2,366
down €2,366 (-4.1%), from €58,066 to €55,699
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,857 | €81,445 | -€6,412 | -7.3% |
| Fixed assets | 21/28 | €57,606 | €45,205 | -€12,401 | -21.5% |
| Tangible fixed assets | 22/27 | €55,401 | €45,205 | -€10,196 | -18.4% |
| Land and buildings | 22 | €17,293 | €14,986 | -€2,307 | -13.3% |
| Plant, machinery and equipment | 23 | €33,591 | €29,899 | -€3,692 | -11.0% |
| Furniture and vehicles | 24 | €607 | €216 | -€391 | -64.4% |
| Leasing and similar rights | 25 | €3,910 | €104 | -€3,806 | -97.3% |
| Financial fixed assets | 28 | €2,205 | - | -€2,205 | |
| Current assets | 29/58 | €30,251 | €36,240 | +€5,989 | +19.8% |
| Stocks and contracts in progress | 3 | €3,982 | €4,153 | +€171 | +4.3% |
| Stocks | 30/36 | €3,982 | €4,153 | +€171 | +4.3% |
| Amounts receivable within one year | 40/41 | €20,320 | €28,787 | +€8,468 | +41.7% |
| Other amounts receivable | 41 | €20,320 | €28,787 | +€8,468 | +41.7% |
| Cash at bank and in hand | 54/58 | €5,950 | €3,300 | -€2,650 | -44.5% |
| Total equity and liabilities | 10/49 | €87,857 | €81,445 | -€6,412 | -7.3% |
| Equity | 10/15 | €51,608 | €30,854 | -€20,754 | -40.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,608 | €20,854 | -€20,754 | -49.9% |
| Amounts payable | 17/49 | €36,249 | €50,591 | +€14,342 | +39.6% |
| Amounts payable after more than one year | 17 | €6,216 | €2,122 | -€4,094 | -65.9% |
| Financial debts | 170/4 | €6,216 | €2,122 | -€4,094 | -65.9% |
| Amounts payable within one year | 42/48 | €30,034 | €46,399 | +€16,366 | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €3,903 | €4,094 | +€191 | +4.9% |
| Financial debts | 43 | - | €1,219 | +€1,219 | |
| Credit institutions | 430/8 | - | €1,219 | +€1,219 | |
| Trade debts | 44 | €3,831 | €8,108 | +€4,277 | +112% |
| Suppliers | 440/4 | €3,831 | €8,108 | +€4,277 | +112% |
| Taxes, remuneration and social security | 45 | €22,300 | €32,978 | +€10,679 | +47.9% |
| Taxes | 450/3 | €8,711 | €5,408 | -€3,303 | -37.9% |
| Remuneration and social security | 454/9 | €13,588 | €27,571 | +€13,982 | +103% |
| Accrued charges and deferred income | 492/3 | - | €2,070 | +€2,070 | |
| Remuneration, social security and pensions | 62 | €58,066 | €55,699 | -€2,366 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,932 | €11,924 | +€993 | +9.1% |
| Other operating charges | 640/8 | €3,299 | €21 | -€3,279 | -99.4% |
| Gross operating margin | 9900 | €70,098 | €48,575 | -€21,523 | -30.7% |
| Operating profit (loss) | 9901 | -€2,199 | -€19,070 | -€16,871 | -767% |
| Financial income | 75/76B | €6 | €33 | +€27 | +491% |
| Recurring financial income | 75 | €6 | €33 | +€27 | +491% |
| Financial charges | 65/66B | €4,957 | €1,716 | -€3,240 | -65.4% |
| Recurring financial charges | 65 | €1,313 | €1,716 | +€403 | +30.7% |
| Non-recurring financial charges | 66B | €3,644 | - | -€3,644 | |
| Profit (loss) for the period before taxes | 9903 | -€7,151 | -€20,754 | -€13,603 | -190% |
| Income taxes | 67/77 | €5,747 | - | -€5,747 | |
| Profit (loss) for the period | 9904 | -€12,897 | -€20,754 | -€7,857 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,897 | -€20,754 | -€7,857 | -60.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.