WELL I: 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.
WELL I
Largest movements
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Cash +€197,697
up €197,697 (+195%), from €101,490 to €299,187
mainly Current investments (+€200,000) and Trade debts (+€7,281)
- Receivables within one year +€15,277
up €15,277 (+17.9%), from €85,242 to €100,520
of which Other amounts receivable: +€8,193
- Trade debts +€7,281
up €7,281 (+212%), from €3,437 to €10,718
- Profit (loss) carried forward +€6,423
up €6,423 (+3.2%), from -€199,795 to -€193,372
- Gross operating margin -€67,430
down €67,430 (-86.2%), from €78,197 to €10,767
- Other operating charges +€839
up €839 (+10.6%), from €7,930 to €8,768
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 | €491,823 | €505,713 | +€13,889 | +2.8% |
| Fixed assets | 21/28 | €102,211 | €104,328 | +€2,117 | +2.1% |
| Tangible fixed assets | 22/27 | €97,957 | €100,074 | +€2,117 | +2.2% |
| Land and buildings | 22 | €97,957 | €100,074 | +€2,117 | +2.2% |
| Financial fixed assets | 28 | €4,254 | €4,254 | = | 0.0% |
| Current assets | 29/58 | €389,612 | €401,384 | +€11,772 | +3.0% |
| Amounts receivable within one year | 40/41 | €85,242 | €100,520 | +€15,277 | +17.9% |
| Trade receivables | 40 | €1,292 | €8,376 | +€7,084 | +548% |
| Other amounts receivable | 41 | €83,951 | €92,144 | +€8,193 | +9.8% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €101,490 | €299,187 | +€197,697 | +195% |
| Deferred charges and accrued income | 490/1 | €2,880 | €1,677 | -€1,202 | -41.7% |
| Total equity and liabilities | 10/49 | €491,823 | €505,713 | +€13,889 | +2.8% |
| Equity | 10/15 | €488,119 | €494,543 | +€6,423 | +1.3% |
| Contributions | 10/11 | €678,913 | €678,913 | = | 0.0% |
| Capital | 10 | €678,913 | €678,913 | = | 0.0% |
| Issued capital | 100 | €678,913 | €678,913 | = | 0.0% |
| Reserves | 13 | €9,002 | €9,002 | = | 0.0% |
| Distributable reserves | 133 | €9,002 | €9,002 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€199,795 | -€193,372 | +€6,423 | +3.2% |
| Amounts payable | 17/49 | €3,704 | €11,170 | +€7,466 | +202% |
| Amounts payable within one year | 42/48 | €3,704 | €10,938 | +€7,234 | +195% |
| Trade debts | 44 | €3,437 | €10,718 | +€7,281 | +212% |
| Suppliers | 440/4 | €3,437 | €10,718 | +€7,281 | +212% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €267 | €220 | -€47 | -17.7% |
| Taxes | 450/3 | €267 | €220 | -€47 | -17.7% |
| Accrued charges and deferred income | 492/3 | €0 | €232 | +€232 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,635 | €2,903 | -€732 | -20.1% |
| Other operating charges | 640/8 | €7,930 | €8,768 | +€839 | +10.6% |
| Gross operating margin | 9900 | €78,197 | €10,767 | -€67,430 | -86.2% |
| Operating profit (loss) | 9901 | €66,633 | -€904 | -€67,537 | |
| Financial income | 75/76B | €7,668 | €7,371 | -€297 | -3.9% |
| Recurring financial income | 75 | €7,668 | €7,371 | -€297 | -3.9% |
| Financial charges | 65/66B | €76 | €43 | -€33 | -43.6% |
| Recurring financial charges | 65 | €76 | €43 | -€33 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €74,225 | €6,423 | -€67,801 | -91.3% |
| Profit (loss) for the period | 9904 | €74,225 | €6,423 | -€67,801 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,225 | €6,423 | -€67,801 | -91.3% |
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 25 October 2026 via checked.be.