WELLENS: 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.
WELLENS
Largest movements
- Cash +€236,026
up €236,026 (+66.8%), from €353,289 to €589,315
mainly Net result for the year (+€282,074) and Depreciation (+€156,287)
- Current investments -€42,080
down €42,080 (-10.3%), from €409,093 to €367,014
- Reserves +€281,000
up €281,000 (+14.0%), from €2.0m to €2.3m
- Debts after one year -€49,020
down €49,020 (-14.2%), from €345,698 to €296,678
- Tax, wage and social debts -€30,691
down €30,691 (-50.5%), from €60,828 to €30,137
of which Taxes: -€26,626
- Depreciation -€32,726
down €32,726 (-17.3%), from €189,012 to €156,287
- Taxes +€21,968
up €21,968 (+19.4%), from €113,404 to €135,372
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.
Cash bridge derived
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 | €2,658,516 | €2,875,651 | +€217,134 | +8.2% |
| Fixed assets | 21/28 | €1,894,875 | €1,911,046 | +€16,171 | +0.9% |
| Tangible fixed assets | 22/27 | €1,894,765 | €1,910,936 | +€16,171 | +0.9% |
| Land and buildings | 22 | €1,718,327 | €1,745,399 | +€27,072 | +1.6% |
| Plant, machinery and equipment | 23 | €157,302 | €144,491 | -€12,811 | -8.1% |
| Furniture and vehicles | 24 | €19,136 | €21,046 | +€1,909 | +10.0% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €763,642 | €964,605 | +€200,964 | +26.3% |
| Amounts receivable within one year | 40/41 | €1,260 | €250 | -€1,010 | -80.2% |
| Trade receivables | 40 | €1,260 | €250 | -€1,010 | -80.2% |
| Current investments | 50/53 | €409,093 | €367,014 | -€42,080 | -10.3% |
| Cash at bank and in hand | 54/58 | €353,289 | €589,315 | +€236,026 | +66.8% |
| Deferred charges and accrued income | 490/1 | - | €8,027 | +€8,027 | |
| Total equity and liabilities | 10/49 | €2,658,516 | €2,875,651 | +€217,134 | +8.2% |
| Equity | 10/15 | €2,174,030 | €2,456,104 | +€282,074 | +13.0% |
| Contributions | 10/11 | €47,045 | €47,045 | = | 0.0% |
| Reserves | 13 | €2,013,296 | €2,294,296 | +€281,000 | +14.0% |
| Distributable reserves | 133 | €2,013,296 | €2,294,296 | +€281,000 | +14.0% |
| Profit (loss) carried forward | 14 | €113,689 | €114,763 | +€1,074 | +0.9% |
| Amounts payable | 17/49 | €484,486 | €419,547 | -€64,939 | -13.4% |
| Amounts payable after more than one year | 17 | €345,698 | €296,678 | -€49,020 | -14.2% |
| Financial debts | 170/4 | €345,698 | €296,678 | -€49,020 | -14.2% |
| Amounts payable within one year | 42/48 | €134,435 | €122,869 | -€11,566 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €48,286 | €49,020 | +€734 | +1.5% |
| Trade debts | 44 | €2,554 | €21,459 | +€18,905 | +740.3% |
| Suppliers | 440/4 | €2,554 | €21,459 | +€18,905 | +740.3% |
| Taxes, remuneration and social security | 45 | €60,828 | €30,137 | -€30,691 | -50.5% |
| Taxes | 450/3 | €50,295 | €23,669 | -€26,626 | -52.9% |
| Remuneration and social security | 454/9 | €10,533 | €6,468 | -€4,065 | -38.6% |
| Other amounts payable | 47/48 | €22,768 | €22,254 | -€514 | -2.3% |
| Accrued charges and deferred income | 492/3 | €4,353 | €0 | -€4,353 | -100.0% |
| Non-recurring operating income | 76A | - | €2,019 | +€2,019 | |
| Remuneration, social security and pensions | 62 | €58,754 | €58,883 | +€129 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,012 | €156,287 | -€32,726 | -17.3% |
| Other operating charges | 640/8 | €8,646 | €7,489 | -€1,157 | -13.4% |
| Gross operating margin | 9900 | €635,887 | €641,471 | +€5,584 | +0.9% |
| Operating profit (loss) | 9901 | €379,474 | €418,812 | +€39,338 | +10.4% |
| Financial income | 75/76B | €12,164 | €5,884 | -€6,280 | -51.6% |
| Recurring financial income | 75 | €12,164 | €5,884 | -€6,280 | -51.6% |
| Financial charges | 65/66B | €10,376 | €7,251 | -€3,125 | -30.1% |
| Recurring financial charges | 65 | €10,376 | €7,251 | -€3,125 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €381,263 | €417,446 | +€36,183 | +9.5% |
| Income taxes | 67/77 | €113,404 | €135,372 | +€21,968 | +19.4% |
| Profit (loss) for the period | 9904 | €267,859 | €282,074 | +€14,215 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €267,859 | €282,074 | +€14,215 | +5.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.