WELL'S: 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'S
Largest movements
- Tangible fixed assets +€50,871
up €50,871 (+2.5%), from €2.0m to €2.1m
of which Assets under construction and advance payments: +€106,000
- Debts after one year +€146,649
up €146,649 (+7.7%), from €1.9m to €2.0m
of which Other amounts payable: +€217,991
- Profit (loss) carried forward -€81,841
down €81,841 (-45.2%), from -€180,975 to -€262,816
- Gross operating margin +€37,497
up €37,497 (+99.2%), from €37,784 to €75,281
- Purchases and services -€28,403
down €28,403 (-36.9%), from €76,944 to €48,542
- Turnover +€9,484
up €9,484 (+8.3%), from €114,339 to €123,823
- Write-downs +€7,164
new in 2025: €7,164
- Financial charges -€6,485
down €6,485 (-9.1%), from €71,028 to €64,544
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 | €2,068,030 | €2,115,552 | +€47,522 | +2.3% |
| Fixed assets | 21/28 | €2,049,384 | €2,100,256 | +€50,871 | +2.5% |
| Tangible fixed assets | 22/27 | €2,049,384 | €2,100,256 | +€50,871 | +2.5% |
| Land and buildings | 22 | €2,017,156 | €1,962,915 | -€54,241 | -2.7% |
| Furniture and vehicles | 24 | €1,493 | €606 | -€887 | -59.4% |
| Assets under construction and advance payments | 27 | €30,735 | €136,735 | +€106,000 | +345% |
| Current assets | 29/58 | €18,646 | €15,296 | -€3,349 | -18.0% |
| Amounts receivable within one year | 40/41 | €13,239 | €9,778 | -€3,462 | -26.1% |
| Trade receivables | 40 | €13,239 | €9,778 | -€3,462 | -26.1% |
| Cash at bank and in hand | 54/58 | €3,789 | €3,833 | +€44 | +1.2% |
| Deferred charges and accrued income | 490/1 | €1,617 | €1,685 | +€68 | +4.2% |
| Total equity and liabilities | 10/49 | €2,068,030 | €2,115,552 | +€47,522 | +2.3% |
| Equity | 10/15 | €37,617 | -€44,224 | -€81,841 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €179,998 | €173,331 | -€6,667 | -3.7% |
| Reserves | 13 | €20,002 | €26,669 | +€6,667 | +33.3% |
| Distributable reserves | 133 | €20,002 | €26,669 | +€6,667 | +33.3% |
| Profit (loss) carried forward | 14 | -€180,975 | -€262,816 | -€81,841 | -45.2% |
| Amounts payable | 17/49 | €2,030,413 | €2,159,776 | +€129,363 | +6.4% |
| Amounts payable after more than one year | 17 | €1,896,720 | €2,043,369 | +€146,649 | +7.7% |
| Financial debts | 170/4 | €1,063,145 | €991,804 | -€71,342 | -6.7% |
| Other amounts payable | 178/9 | €833,575 | €1,051,566 | +€217,991 | +26.2% |
| Amounts payable within one year | 42/48 | €133,243 | €116,407 | -€16,836 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €70,249 | €71,342 | +€1,093 | +1.6% |
| Trade debts | 44 | €22,152 | €9,342 | -€12,810 | -57.8% |
| Suppliers | 440/4 | €22,152 | €9,342 | -€12,810 | -57.8% |
| Taxes, remuneration and social security | 45 | €51 | €366 | +€315 | +619% |
| Taxes | 450/3 | €51 | €366 | +€315 | +619% |
| Other amounts payable | 47/48 | €40,791 | €35,357 | -€5,434 | -13.3% |
| Accrued charges and deferred income | 492/3 | €450 | - | -€450 | |
| Turnover | 70 | €114,339 | €123,823 | +€9,484 | +8.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €76,944 | €48,542 | -€28,403 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,822 | €76,631 | +€1,809 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,164 | +€7,164 | |
| Other operating charges | 640/8 | €10,050 | €8,785 | -€1,265 | -12.6% |
| Gross operating margin | 9900 | €37,784 | €75,281 | +€37,497 | +99.2% |
| Operating profit (loss) | 9901 | -€47,088 | -€17,298 | +€29,790 | +63.3% |
| Financial charges | 65/66B | €71,028 | €64,544 | -€6,485 | -9.1% |
| Recurring financial charges | 65 | €71,028 | €64,544 | -€6,485 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€118,116 | -€81,841 | +€36,275 | +30.7% |
| Profit (loss) for the period | 9904 | -€118,116 | -€81,841 | +€36,275 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€118,116 | -€81,841 | +€36,275 | +30.7% |
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 20 October 2026 via checked.be.