WELLENS: what changed
What changed
WELLENS
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€12,796
2024 · €63,204-€50,408
Equity
€643,703
2024 · €630,907+€12,796
Cash
€16,216
2024 · €79,136-€62,920
Balance sheet total
€1.8m
2024 · €2.1m-€296,600
Largest movements
Assets
- Stocks and contracts -€218,500
down €218,500 (-14.3%), from €1.5m to €1.3m
of which Contracts in progress: -€230,000
- Tangible fixed assets -€129,071
down €129,071 (-30.5%), from €423,848 to €294,777
of which Furniture and vehicles: -€98,090
- Receivables within one year +€116,014
up €116,014 (+157%), from €73,781 to €189,795
of which Trade receivables: +€119,562
- Cash -€62,920
down €62,920 (-79.5%), from €79,136 to €16,216
mainly Short-term financial debts (-€324,000) and Receivables within one year (-€116,014)
Equity and liabilities
- Short-term financial debts -€324,000
down €324,000 (-41.5%), from €781,435 to €457,435
- Other debts +€73,274
up €73,274 (+13.4%), from €545,148 to €618,422
- Current portion of long-term debt -€41,865
down €41,865 (-60.9%), from €68,780 to €26,915
- Debts after one year -€26,915
down €26,915 (-58.5%), from €46,019 to €19,104
Income statement
- Staff costs +€58,503
up €58,503 (+60.5%), from €96,734 to €155,238
- Gross operating margin +€48,551
up €48,551 (+13.9%), from €348,044 to €396,595
- Depreciation +€35,132
up €35,132 (+37.4%), from €93,939 to €129,071
- Financial charges +€13,145
up €13,145 (+17.7%), from €74,306 to €87,452
- Taxes -€10,449
down €10,449 (-64.0%), from €16,328 to €5,880
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
€63,204
Gross operating margin
+€48,551
Staff costs
-€58,503
Depreciation
-€35,132
Other operating charges
+€268
Other operating items
-€3,355
Financial income
+€461
Financial charges
-€13,145
Taxes
+€10,449
Result 2025
€12,796
raises the resultlowers the resultnot broken down further in the accounts
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
+€326,677
Investment
+€3,182
Financing
-€392,780
Cash 2024
€79,136
From operations (derived)
+€326,677
Net result for the year
+€12,796
Depreciation
+€129,071
Stocks and contracts
+€218,500
Receivables within one year
-€116,014
Deferred charges and accrued income
-€1,060
Trade debts
+€9,263
Tax, wage and social debts
+€847
Other debts
+€73,274
Investment (derived)
+€3,182
Investment in fixed assets (net)
+€3,182
Financing
-€392,780
Debts after one year
-€26,915
Current portion of long-term debt
-€41,865
Short-term financial debts
-€324,000
Cash 2025
€16,216
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,120,756 | €1,824,156 | -€296,600 | -14.0% |
| Fixed assets | 21/28 | €430,822 | €298,568 | -€132,254 | -30.7% |
| Tangible fixed assets | 22/27 | €423,848 | €294,777 | -€129,071 | -30.5% |
| Land and buildings | 22 | €117,513 | €107,633 | -€9,879 | -8.4% |
| Plant, machinery and equipment | 23 | €31,119 | €10,017 | -€21,102 | -67.8% |
| Furniture and vehicles | 24 | €275,216 | €177,126 | -€98,090 | -35.6% |
| Financial fixed assets | 28 | €6,974 | €3,792 | -€3,182 | -45.6% |
| Current assets | 29/58 | €1,689,934 | €1,525,588 | -€164,346 | -9.7% |
| Stocks and contracts in progress | 3 | €1,529,305 | €1,310,805 | -€218,500 | -14.3% |
| Stocks | 30/36 | €79,305 | €90,805 | +€11,500 | +14.5% |
| Contracts in progress | 37 | €1,450,000 | €1,220,000 | -€230,000 | -15.9% |
| Amounts receivable within one year | 40/41 | €73,781 | €189,795 | +€116,014 | +157% |
| Trade receivables | 40 | €6,177 | €125,739 | +€119,562 | +1,936% |
| Other amounts receivable | 41 | €67,604 | €64,055 | -€3,548 | -5.2% |
| Cash at bank and in hand | 54/58 | €79,136 | €16,216 | -€62,920 | -79.5% |
| Deferred charges and accrued income | 490/1 | €7,711 | €8,772 | +€1,060 | +13.7% |
| Total equity and liabilities | 10/49 | €2,120,756 | €1,824,156 | -€296,600 | -14.0% |
| Equity | 10/15 | €630,907 | €643,703 | +€12,796 | +2.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €568,907 | €581,703 | +€12,796 | +2.2% |
| Non-distributable reserves | 130/1 | €20,877 | €20,877 | = | 0.0% |
| Legal reserve | 130 | €20,877 | €20,877 | = | 0.0% |
| Distributable reserves | 133 | €548,030 | €560,826 | +€12,796 | +2.3% |
| Amounts payable | 17/49 | €1,489,849 | €1,180,453 | -€309,397 | -20.8% |
| Amounts payable after more than one year | 17 | €46,019 | €19,104 | -€26,915 | -58.5% |
| Financial debts | 170/4 | €46,019 | €19,104 | -€26,915 | -58.5% |
| Amounts payable within one year | 42/48 | €1,443,831 | €1,161,349 | -€282,482 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €68,780 | €26,915 | -€41,865 | -60.9% |
| Financial debts | 43 | €781,435 | €457,435 | -€324,000 | -41.5% |
| Credit institutions | 430/8 | €781,435 | €457,435 | -€324,000 | -41.5% |
| Trade debts | 44 | €27,168 | €36,431 | +€9,263 | +34.1% |
| Suppliers | 440/4 | €27,168 | €36,431 | +€9,263 | +34.1% |
| Taxes, remuneration and social security | 45 | €21,299 | €22,146 | +€847 | +4.0% |
| Taxes | 450/3 | €18,909 | €14,438 | -€4,472 | -23.6% |
| Remuneration and social security | 454/9 | €2,390 | €7,708 | +€5,318 | +223% |
| Other amounts payable | 47/48 | €545,148 | €618,422 | +€73,274 | +13.4% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100% |
| Remuneration, social security and pensions | 62 | €96,734 | €155,238 | +€58,503 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,939 | €129,071 | +€35,132 | +37.4% |
| Other operating charges | 640/8 | €6,004 | €5,736 | -€268 | -4.5% |
| Non-recurring operating charges | 66A | - | €3,355 | +€3,355 | |
| Gross operating margin | 9900 | €348,044 | €396,595 | +€48,551 | +13.9% |
| Operating profit (loss) | 9901 | €151,366 | €103,194 | -€48,172 | -31.8% |
| Financial income | 75/76B | €2,472 | €2,933 | +€461 | +18.7% |
| Recurring financial income | 75 | €2,472 | €2,933 | +€461 | +18.7% |
| Financial charges | 65/66B | €74,306 | €87,452 | +€13,145 | +17.7% |
| Recurring financial charges | 65 | €74,306 | €87,452 | +€13,145 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €79,532 | €18,676 | -€60,856 | -76.5% |
| Income taxes | 67/77 | €16,328 | €5,880 | -€10,449 | -64.0% |
| Profit (loss) for the period | 9904 | €63,204 | €12,796 | -€50,408 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,204 | €12,796 | -€50,408 | -79.8% |
Next steps
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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 7 November 2026 via checked.be.