Wellens & De Block: 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 & De Block
Largest movements
- Tangible fixed assets +€132,927
up €132,927 (+1,969%), from €6,750 to €139,677
of which Land and buildings: +€111,645
- Cash -€73,483
down €73,483 (-57.0%), from €128,916 to €55,433
mainly Investment in fixed assets (net) (-€142,455) and Receivables within one year (-€25,883)
- Receivables within one year +€25,883
up €25,883 (+543%), from €4,770 to €30,652
- Debts after one year +€57,952
new in 2025: €57,952
- Reserves +€15,429
up €15,429 (+99.1%), from €15,563 to €30,992
- Current portion of long-term debt +€9,088
new in 2025: €9,088
- Trade debts +€6,650
up €6,650 (+204%), from €3,255 to €9,906
- Other debts +€6,355
up €6,355 (+4.2%), from €150,711 to €157,065
- Gross operating margin -€11,603
down €11,603 (-29.0%), from €40,074 to €28,471
- Depreciation +€8,566
up €8,566 (+699%), from €1,226 to €9,792
- Taxes -€4,006
down €4,006 (-98.9%), from €4,050 to €43
- Financial charges +€3,067
up €3,067 (+3,154%), from €97 to €3,164
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 | €198,324 | €287,661 | +€89,337 | +45.0% |
| Fixed assets | 21/28 | €7,896 | €140,559 | +€132,662 | +1,680% |
| Intangible fixed assets | 21 | €1,146 | €882 | -€264 | -23.1% |
| Tangible fixed assets | 22/27 | €6,750 | €139,677 | +€132,927 | +1,969% |
| Land and buildings | 22 | - | €111,645 | +€111,645 | |
| Plant, machinery and equipment | 23 | €5,172 | €4,316 | -€856 | -16.5% |
| Furniture and vehicles | 24 | €1,578 | €23,716 | +€22,138 | +1,403% |
| Current assets | 29/58 | €190,428 | €147,102 | -€43,326 | -22.8% |
| Stocks and contracts in progress | 3 | €56,623 | €58,362 | +€1,739 | +3.1% |
| Stocks | 30/36 | €56,623 | €58,362 | +€1,739 | +3.1% |
| Amounts receivable within one year | 40/41 | €4,770 | €30,652 | +€25,883 | +543% |
| Trade receivables | 40 | €4,770 | €30,652 | +€25,883 | +543% |
| Cash at bank and in hand | 54/58 | €128,916 | €55,433 | -€73,483 | -57.0% |
| Deferred charges and accrued income | 490/1 | €119 | €2,656 | +€2,536 | +2,128% |
| Total equity and liabilities | 10/49 | €198,324 | €287,661 | +€89,337 | +45.0% |
| Equity | 10/15 | €35,992 | €50,354 | +€14,362 | +39.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €15,563 | €30,992 | +€15,429 | +99.1% |
| Distributable reserves | 133 | €15,563 | €30,992 | +€15,429 | +99.1% |
| Profit (loss) carried forward | 14 | €15,429 | €14,362 | -€1,067 | -6.9% |
| Amounts payable | 17/49 | €162,333 | €237,307 | +€74,975 | +46.2% |
| Amounts payable after more than one year | 17 | - | €57,952 | +€57,952 | |
| Financial debts | 170/4 | - | €57,952 | +€57,952 | |
| Amounts payable within one year | 42/48 | €162,333 | €179,355 | +€17,023 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,088 | +€9,088 | |
| Trade debts | 44 | €3,255 | €9,906 | +€6,650 | +204% |
| Suppliers | 440/4 | €3,255 | €9,906 | +€6,650 | +204% |
| Taxes, remuneration and social security | 45 | €8,367 | €3,296 | -€5,070 | -60.6% |
| Taxes | 450/3 | €8,367 | €3,296 | -€5,070 | -60.6% |
| Other amounts payable | 47/48 | €150,711 | €157,065 | +€6,355 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,226 | €9,792 | +€8,566 | +699% |
| Other operating charges | 640/8 | €889 | €1,109 | +€221 | +24.8% |
| Gross operating margin | 9900 | €40,074 | €28,471 | -€11,603 | -29.0% |
| Operating profit (loss) | 9901 | €37,959 | €17,569 | -€20,390 | -53.7% |
| Financial charges | 65/66B | €97 | €3,164 | +€3,067 | +3,154% |
| Recurring financial charges | 65 | €97 | €3,164 | +€3,067 | +3,154% |
| Profit (loss) for the period before taxes | 9903 | €37,862 | €14,405 | -€23,457 | -62.0% |
| Income taxes | 67/77 | €4,050 | €43 | -€4,006 | -98.9% |
| Profit (loss) for the period | 9904 | €33,812 | €14,362 | -€19,450 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,812 | €14,362 | -€19,450 | -57.5% |
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 19 October 2026 via checked.be.