WELLO: 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.
WELLO
Largest movements
- Cash +€44,672
up €44,672 (+102.1%), from €43,736 to €88,408
mainly Net result for the year (+€83,765) and Debts after one year (+€55,784)
- Receivables within one year +€34,257
up €34,257 (+180.3%), from €19,000 to €53,257
of which Trade receivables: +€31,871
- Tangible fixed assets -€16,650
down €16,650 (-40.0%), from €41,611 to €24,961
of which Furniture and vehicles: -€15,586
- Debts after one year +€55,784
up €55,784 (+117.1%), from €47,644 to €103,428
of which Other amounts payable: +€60,689
- Tax, wage and social debts +€15,112
up €15,112 (+356.3%), from €4,241 to €19,353
- Profit (loss) carried forward -€12,339
down €12,339 (-34.2%), from €36,104 to €23,765
- Other debts +€2,537
up €2,537 (+60.3%), from €4,210 to €6,747
- Gross operating margin +€88,149
up €88,149 (+234.3%), from €37,615 to €125,764
- Taxes +€18,692
up €18,692 (+422.6%), from €4,423 to €23,115
- Depreciation +€5,449
up €5,449 (+48.7%), from €11,201 to €16,650
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 | €104,807 | €167,364 | +€62,557 | +59.7% |
| Fixed assets | 21/28 | €41,611 | €24,961 | -€16,650 | -40.0% |
| Tangible fixed assets | 22/27 | €41,611 | €24,961 | -€16,650 | -40.0% |
| Land and buildings | 22 | €5,297 | €4,234 | -€1,063 | -20.1% |
| Furniture and vehicles | 24 | €36,314 | €20,728 | -€15,586 | -42.9% |
| Current assets | 29/58 | €63,195 | €142,402 | +€79,207 | +125.3% |
| Amounts receivable within one year | 40/41 | €19,000 | €53,257 | +€34,257 | +180.3% |
| Trade receivables | 40 | €19,000 | €50,871 | +€31,871 | +167.7% |
| Other amounts receivable | 41 | - | €2,385 | +€2,385 | |
| Cash at bank and in hand | 54/58 | €43,736 | €88,408 | +€44,672 | +102.1% |
| Deferred charges and accrued income | 490/1 | €459 | €738 | +€279 | +60.7% |
| Total equity and liabilities | 10/49 | €104,807 | €167,364 | +€62,557 | +59.7% |
| Equity | 10/15 | €41,104 | €28,765 | -€12,339 | -30.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,104 | €23,765 | -€12,339 | -34.2% |
| Amounts payable | 17/49 | €63,702 | €138,599 | +€74,896 | +117.6% |
| Amounts payable after more than one year | 17 | €47,644 | €103,428 | +€55,784 | +117.1% |
| Financial debts | 170/4 | €17,644 | €12,739 | -€4,905 | -27.8% |
| Other amounts payable | 178/9 | €30,000 | €90,689 | +€60,689 | +202.3% |
| Amounts payable within one year | 42/48 | €13,749 | €32,224 | +€18,475 | +134.4% |
| Current portion of amounts payable after more than one year | 42 | €4,703 | €4,905 | +€202 | +4.3% |
| Trade debts | 44 | €596 | €1,220 | +€624 | +104.7% |
| Suppliers | 440/4 | €596 | €1,220 | +€624 | +104.7% |
| Taxes, remuneration and social security | 45 | €4,241 | €19,353 | +€15,112 | +356.3% |
| Taxes | 450/3 | €4,241 | €19,353 | +€15,112 | +356.3% |
| Other amounts payable | 47/48 | €4,210 | €6,747 | +€2,537 | +60.3% |
| Accrued charges and deferred income | 492/3 | €2,309 | €2,946 | +€637 | +27.6% |
| Non-recurring operating income | 76A | €14,507 | - | -€14,507 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,201 | €16,650 | +€5,449 | +48.7% |
| Other operating charges | 640/8 | €456 | €120 | -€336 | -73.7% |
| Gross operating margin | 9900 | €37,615 | €125,764 | +€88,149 | +234.3% |
| Operating profit (loss) | 9901 | €25,958 | €108,994 | +€83,035 | +319.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +300.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +300.0% |
| Financial charges | 65/66B | €2,108 | €2,114 | +€6 | +0.3% |
| Recurring financial charges | 65 | €2,108 | €2,114 | +€6 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €23,850 | €106,880 | +€83,029 | +348.1% |
| Income taxes | 67/77 | €4,423 | €23,115 | +€18,692 | +422.6% |
| Profit (loss) for the period | 9904 | €19,428 | €83,765 | +€64,337 | +331.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,428 | €83,765 | +€64,337 | +331.2% |
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 12 October 2026 via checked.be.