WELLENSCO: 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.
WELLENSCO
Largest movements
- Receivables within one year +€959,003
up €959,003 (+502.6%), from €190,807 to €1.1m
of which Trade receivables: +€919,483
- Tangible fixed assets -€402,628
down €402,628 (-33.5%), from €1.2m to €800,603
of which Land and buildings: -€531,685
- Stocks and contracts +€275,394
new in 2025: €275,394
- Current investments -€211,952
down €211,952 (-21.7%), from €978,914 to €766,962
- Financial fixed assets +€85,000
up €85,000, from €0 to €85,000
- Debts after one year +€488,219
up €488,219 (+199.8%), from €244,346 to €732,565
- Reserves +€236,715
up €236,715 (+13.5%), from €1.7m to €2.0m
of which Distributable reserves: +€313,958
- Other debts -€190,771
no longer reported in 2025 (was €190,771)
- Trade debts +€64,351
up €64,351 (+385.9%), from €16,677 to €81,028
- Current portion of long-term debt +€44,262
up €44,262 (+61.9%), from €71,466 to €115,728
- Gross operating margin +€127,392
up €127,392 (+50.7%), from €251,287 to €378,679
- Financial charges +€44,386
up €44,386 (+258.6%), from €17,166 to €61,553
- Taxes +€34,616
up €34,616 (+45.6%), from €75,877 to €110,493
- Financial income -€16,738
down €16,738 (-18.7%), from €89,503 to €72,765
- Other operating charges +€10,274
up €10,274 (+154.9%), from €6,632 to €16,905
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 | €2,532,467 | €3,150,567 | +€618,100 | +24.4% |
| Fixed assets | 21/28 | €1,203,231 | €885,603 | -€317,628 | -26.4% |
| Tangible fixed assets | 22/27 | €1,203,231 | €800,603 | -€402,628 | -33.5% |
| Land and buildings | 22 | €1,197,099 | €665,413 | -€531,685 | -44.4% |
| Plant, machinery and equipment | 23 | €4,917 | €2,458 | -€2,458 | -50.0% |
| Furniture and vehicles | 24 | €1,216 | €132,732 | +€131,516 | +10817.0% |
| Financial fixed assets | 28 | €0 | €85,000 | +€85,000 | |
| Current assets | 29/58 | €1,329,236 | €2,264,964 | +€935,728 | +70.4% |
| Stocks and contracts in progress | 3 | - | €275,394 | +€275,394 | |
| Stocks | 30/36 | - | €275,394 | +€275,394 | |
| Amounts receivable within one year | 40/41 | €190,807 | €1,149,810 | +€959,003 | +502.6% |
| Trade receivables | 40 | €8,715 | €928,198 | +€919,483 | +10550.3% |
| Other amounts receivable | 41 | €182,091 | €221,611 | +€39,520 | +21.7% |
| Current investments | 50/53 | €978,914 | €766,962 | -€211,952 | -21.7% |
| Cash at bank and in hand | 54/58 | €154,171 | €70,858 | -€83,312 | -54.0% |
| Deferred charges and accrued income | 490/1 | €5,345 | €1,940 | -€3,405 | -63.7% |
| Total equity and liabilities | 10/49 | €2,532,467 | €3,150,567 | +€618,100 | +24.4% |
| Equity | 10/15 | €1,963,011 | €2,199,019 | +€236,007 | +12.0% |
| Contributions | 10/11 | €212,753 | €212,753 | = | 0.0% |
| Reserves | 13 | €1,749,550 | €1,986,266 | +€236,715 | +13.5% |
| Non-distributable reserves | 130/1 | €16,860 | €16,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,860 | €16,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €77,242 | - | -€77,242 | |
| Distributable reserves | 133 | €1,655,448 | €1,969,406 | +€313,958 | +19.0% |
| Profit (loss) carried forward | 14 | €708 | - | -€708 | |
| Provisions and deferred taxes | 16 | €25,273 | - | -€25,273 | |
| Deferred taxes | 168 | €25,273 | - | -€25,273 | |
| Amounts payable | 17/49 | €544,183 | €951,548 | +€407,365 | +74.9% |
| Amounts payable after more than one year | 17 | €244,346 | €732,565 | +€488,219 | +199.8% |
| Financial debts | 170/4 | €244,346 | €732,565 | +€488,219 | +199.8% |
| Amounts payable within one year | 42/48 | €299,664 | €217,238 | -€82,426 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €71,466 | €115,728 | +€44,262 | +61.9% |
| Trade debts | 44 | €16,677 | €81,028 | +€64,351 | +385.9% |
| Suppliers | 440/4 | €16,677 | €81,028 | +€64,351 | +385.9% |
| Taxes, remuneration and social security | 45 | €20,750 | €20,482 | -€267 | -1.3% |
| Taxes | 450/3 | €20,750 | €20,482 | -€267 | -1.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €190,771 | - | -€190,771 | |
| Accrued charges and deferred income | 492/3 | €174 | €1,745 | +€1,571 | +903.2% |
| Non-recurring operating income | 76A | - | €441,039 | +€441,039 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,881 | €46,758 | +€9,878 | +26.8% |
| Other operating charges | 640/8 | €6,632 | €16,905 | +€10,274 | +154.9% |
| Gross operating margin | 9900 | €251,287 | €378,679 | +€127,392 | +50.7% |
| Operating profit (loss) | 9901 | €207,774 | €315,015 | +€107,241 | +51.6% |
| Financial income | 75/76B | €89,503 | €72,765 | -€16,738 | -18.7% |
| Recurring financial income | 75 | €89,503 | €72,765 | -€16,738 | -18.7% |
| Financial charges | 65/66B | €17,166 | €61,553 | +€44,386 | +258.6% |
| Recurring financial charges | 65 | €17,166 | €61,553 | +€44,386 | +258.6% |
| Profit (loss) for the period before taxes | 9903 | €280,111 | €326,227 | +€46,116 | +16.5% |
| Transfer from deferred taxes | 780 | €869 | €25,273 | +€24,404 | +2809.9% |
| Income taxes | 67/77 | €75,877 | €110,493 | +€34,616 | +45.6% |
| Profit (loss) for the period | 9904 | €205,102 | €241,007 | +€35,905 | +17.5% |
| Transfer from tax-exempt reserves | 789 | €2,605 | €77,242 | +€74,637 | +2864.6% |
| Profit (loss) for the period to be appropriated | 9905 | €207,708 | €318,250 | +€110,542 | +53.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.