WELL - M: 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.
WELL - M
Largest movements
- Cash -€123,138
down €123,138 (-27.6%), from €446,942 to €323,804
mainly Debts within one year (-€199,454) and Net result for the year (-€736)
- Tangible fixed assets -€76,481
down €76,481 (-33.9%), from €225,824 to €149,343
- Debts within one year -€199,454
down €199,454 (-91.6%), from €217,669 to €18,215
- Gross operating margin -€252,387
down €252,387 (-85.7%), from €294,375 to €41,989
- Taxes -€68,541
no longer reported in 2021 (was €68,541)
- Other operating charges +€6,570
new in 2021: €6,570
- Depreciation -€3,617
down €3,617 (-23.8%), from €15,175 to €11,558
From the 2020 result to the 2021 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 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €774,865 | €575,245 | -€199,620 | -25.8% |
| Fixed assets | 21/28 | €226,048 | €149,566 | -€76,481 | -33.8% |
| Tangible fixed assets | 22/27 | €225,824 | €149,343 | -€76,481 | -33.9% |
| Land and buildings | 22 | - | €148,626 | +€148,626 | |
| Furniture and vehicles | 24 | - | €717 | +€717 | |
| Financial fixed assets | 28 | €223 | €223 | = | 0.0% |
| Current assets | 29/58 | €548,817 | €425,679 | -€123,138 | -22.4% |
| Current investments | 50/53 | €101,875 | €101,875 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €446,942 | €323,804 | -€123,138 | -27.6% |
| Total equity and liabilities | 10/49 | €774,865 | €575,245 | -€199,620 | -25.8% |
| Equity | 10/15 | €557,196 | €556,460 | -€736 | -0.1% |
| Contributions | 10/11 | €435,053 | €435,053 | = | 0.0% |
| Capital | 10 | - | €435,053 | +€435,053 | |
| Issued capital | 100 | - | €435,053 | +€435,053 | |
| Reserves | 13 | €122,143 | €121,407 | -€736 | -0.6% |
| Non-distributable reserves | 130/1 | - | €43,505 | +€43,505 | |
| Legal reserve | 130 | - | €43,505 | +€43,505 | |
| Distributable reserves | 133 | - | €77,901 | +€77,901 | |
| Amounts payable | 17/49 | €217,669 | €18,785 | -€198,884 | -91.4% |
| Amounts payable within one year | 42/48 | €217,669 | €18,215 | -€199,454 | -91.6% |
| Trade debts | 44 | €1,546 | €4,772 | +€3,226 | +208.7% |
| Suppliers | 440/4 | - | €4,772 | +€4,772 | |
| Taxes, remuneration and social security | 45 | - | €8,541 | +€8,541 | |
| Taxes | 450/3 | - | €8,541 | +€8,541 | |
| Other amounts payable | 47/48 | - | €4,901 | +€4,901 | |
| Accrued charges and deferred income | 492/3 | - | €570 | +€570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,175 | €11,558 | -€3,617 | -23.8% |
| Other operating charges | 640/8 | - | €6,570 | +€6,570 | |
| Non-recurring operating charges | 66A | - | €25,443 | +€25,443 | |
| Gross operating margin | 9900 | €294,375 | €41,989 | -€252,387 | -85.7% |
| Operating profit (loss) | 9901 | €270,198 | -€1,582 | -€271,780 | |
| Financial income | 75/76B | - | €793 | +€793 | |
| Recurring financial income | 75 | €819 | €793 | -€26 | -3.2% |
| Financial charges | 65/66B | - | -€53 | -€53 | |
| Recurring financial charges | 65 | €30 | -€53 | -€83 | |
| Profit (loss) for the period before taxes | 9903 | €270,987 | -€736 | -€271,724 | |
| Income taxes | 67/77 | €68,541 | - | -€68,541 | |
| Profit (loss) for the period | 9904 | €202,446 | -€736 | -€203,182 | |
| Profit (loss) for the period to be appropriated | 9905 | €202,446 | -€736 | -€203,182 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.