WELLS & B: 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.
What changed
WELLS & B
NACE 73.200, Market research and public opinion polling
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,439
2024 · €10,748-€5,309
Equity
€1.1m
2024 · €1.1m+€5,439
Cash
€82,263
2024 · €54,242+€28,021
Balance sheet total
€1.4m
2024 · €1.4m-€43,571
Largest movements
Assets
- Receivables after one year -€80,000
down €80,000 (-18.1%), from €440,960 to €360,960
- Tangible fixed assets -€33,719
down €33,719 (-4.8%), from €709,390 to €675,671
of which Land and buildings: -€36,492
- Current investments +€32,393
up €32,393 (+69.9%), from €46,373 to €78,766
- Cash +€28,021
up €28,021 (+51.7%), from €54,242 to €82,263
mainly Depreciation (+€109,685) and Receivables after one year (+€80,000)
Equity and liabilities
- Debts after one year -€55,266
down €55,266 (-18.1%), from €305,300 to €250,033
Income statement
- Gross operating margin -€4,451
down €4,451 (-3.3%), from €133,062 to €128,611
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.
Result 2024
€10,748
Gross operating margin
-€4,451
Depreciation
-€983
Other operating charges
-€258
Other operating items
+€59
Financial income
-€1
Financial charges
+€873
Taxes
-€548
Result 2025
€5,439
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€190,747
Investment
-€108,360
Financing
-€54,366
Cash 2024
€54,242
From operations (derived)
+€190,747
Net result for the year
+€5,439
Depreciation
+€109,685
Receivables after one year
+€80,000
Receivables within one year
-€9,535
Smaller working-capital items
-€170
Trade debts
-€6,281
Tax, wage and social debts
+€10,370
Advances received
+€2,800
Other debts
-€1,562
Investment (derived)
-€108,360
Investment in fixed assets (net)
-€75,967
Current investments
-€32,393
Financing
-€54,366
Debts after one year
-€55,266
Current portion of long-term debt
+€901
Cash 2025
€82,263
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,448,477 | €1,404,906 | -€43,571 | -3.0% |
| Fixed assets | 21/28 | €899,965 | €866,246 | -€33,719 | -3.7% |
| Tangible fixed assets | 22/27 | €709,390 | €675,671 | -€33,719 | -4.8% |
| Land and buildings | 22 | €399,489 | €362,997 | -€36,492 | -9.1% |
| Plant, machinery and equipment | 23 | €278,234 | €300,242 | +€22,008 | +7.9% |
| Furniture and vehicles | 24 | €21,833 | €7,689 | -€14,144 | -64.8% |
| Other tangible fixed assets | 26 | €9,834 | €4,743 | -€5,091 | -51.8% |
| Financial fixed assets | 28 | €190,575 | €190,575 | = | 0.0% |
| Current assets | 29/58 | €548,512 | €538,659 | -€9,852 | -1.8% |
| Amounts receivable after more than one year | 29 | €440,960 | €360,960 | -€80,000 | -18.1% |
| Trade receivables | 290 | €440,960 | €360,960 | -€80,000 | -18.1% |
| Amounts receivable within one year | 40/41 | €3,220 | €12,755 | +€9,535 | +296% |
| Trade receivables | 40 | €3,020 | €12,755 | +€9,735 | +322% |
| Other amounts receivable | 41 | €200 | - | -€200 | |
| Current investments | 50/53 | €46,373 | €78,766 | +€32,393 | +69.9% |
| Cash at bank and in hand | 54/58 | €54,242 | €82,263 | +€28,021 | +51.7% |
| Deferred charges and accrued income | 490/1 | €3,717 | €3,915 | +€198 | +5.3% |
| Total equity and liabilities | 10/49 | €1,448,477 | €1,404,906 | -€43,571 | -3.0% |
| Equity | 10/15 | €1,069,786 | €1,075,225 | +€5,439 | +0.5% |
| 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 | €6,200 | €11,639 | +€5,439 | +87.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | - | €5,439 | +€5,439 | |
| Profit (loss) carried forward | 14 | €1,001,586 | €1,001,586 | +€0 | 0.0% |
| Amounts payable | 17/49 | €378,691 | €329,681 | -€49,010 | -12.9% |
| Amounts payable after more than one year | 17 | €305,300 | €250,033 | -€55,266 | -18.1% |
| Financial debts | 170/4 | €305,300 | €250,033 | -€55,266 | -18.1% |
| Amounts payable within one year | 42/48 | €72,763 | €78,990 | +€6,228 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €54,366 | €55,266 | +€901 | +1.7% |
| Trade debts | 44 | €6,281 | - | -€6,281 | |
| Suppliers | 440/4 | €6,281 | - | -€6,281 | |
| Advances received on contracts in progress | 46 | - | €2,800 | +€2,800 | |
| Taxes, remuneration and social security | 45 | €10,554 | €20,924 | +€10,370 | +98.3% |
| Taxes | 450/3 | €10,554 | €20,924 | +€10,370 | +98.3% |
| Other amounts payable | 47/48 | €1,562 | - | -€1,562 | |
| Accrued charges and deferred income | 492/3 | €628 | €657 | +€28 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,702 | €109,685 | +€983 | +0.9% |
| Other operating charges | 640/8 | €6,444 | €6,702 | +€258 | +4.0% |
| Non-recurring operating charges | 66A | €59 | - | -€59 | |
| Gross operating margin | 9900 | €133,062 | €128,611 | -€4,451 | -3.3% |
| Operating profit (loss) | 9901 | €17,857 | €12,223 | -€5,633 | -31.5% |
| Financial income | 75/76B | €5 | €4 | -€1 | -17.7% |
| Recurring financial income | 75 | €5 | €4 | -€1 | -17.7% |
| Financial charges | 65/66B | €6,975 | €6,102 | -€873 | -12.5% |
| Recurring financial charges | 65 | €6,975 | €6,102 | -€873 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €10,886 | €6,125 | -€4,761 | -43.7% |
| Income taxes | 67/77 | €138 | €686 | +€548 | +397% |
| Profit (loss) for the period | 9904 | €10,748 | €5,439 | -€5,309 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,748 | €5,439 | -€5,309 | -49.4% |
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 18 October 2026 via checked.be.