WELMO: 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.
WELMO
Largest movements
- Stocks and contracts +€7,338
up €7,338 (+48.6%), from €15,088 to €22,426
- Cash -€4,552
down €4,552 (-53.1%), from €8,575 to €4,022
mainly Stocks and contracts (-€7,338) and Receivables within one year (-€4,027)
- Receivables within one year +€4,027
up €4,027 (+152.1%), from €2,647 to €6,674
of which Trade receivables: +€4,041
- Profit (loss) carried forward +€3,468
up €3,468, from -€3,468 to €0
- Reserves +€1,313
up €1,313 (+70.6%), from €1,860 to €3,173
of which Distributable reserves: +€1,313
- Trade debts +€838
up €838 (+26.5%), from €3,168 to €4,005
- Other debts +€772
up €772 (+12.3%), from €6,281 to €7,053
- Gross operating margin -€1,927
down €1,927 (-24.7%), from €7,801 to €5,874
- Other operating charges +€165
up €165 (+20.3%), from €815 to €980
- Taxes +€131
new in 2025: €131
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 | €26,441 | €33,298 | +€6,857 | +25.9% |
| Current assets | 29/58 | €26,441 | €33,298 | +€6,857 | +25.9% |
| Stocks and contracts in progress | 3 | €15,088 | €22,426 | +€7,338 | +48.6% |
| Stocks | 30/36 | €15,088 | €22,426 | +€7,338 | +48.6% |
| Amounts receivable within one year | 40/41 | €2,647 | €6,674 | +€4,027 | +152.1% |
| Trade receivables | 40 | €2,634 | €6,674 | +€4,041 | +153.4% |
| Other amounts receivable | 41 | €14 | €0 | -€14 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,575 | €4,022 | -€4,552 | -53.1% |
| Deferred charges and accrued income | 490/1 | €131 | €175 | +€44 | +33.3% |
| Total equity and liabilities | 10/49 | €26,441 | €33,298 | +€6,857 | +25.9% |
| Equity | 10/15 | €16,992 | €21,773 | +€4,781 | +28.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €3,173 | +€1,313 | +70.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €1,313 | +€1,313 | |
| Profit (loss) carried forward | 14 | -€3,468 | €0 | +€3,468 | |
| Amounts payable | 17/49 | €9,449 | €11,525 | +€2,076 | +22.0% |
| Amounts payable within one year | 42/48 | €9,449 | €11,272 | +€1,823 | +19.3% |
| Trade debts | 44 | €3,168 | €4,005 | +€838 | +26.5% |
| Suppliers | 440/4 | €3,168 | €4,005 | +€838 | +26.5% |
| Taxes, remuneration and social security | 45 | €0 | €214 | +€214 | |
| Taxes | 450/3 | €0 | €214 | +€214 | |
| Other amounts payable | 47/48 | €6,281 | €7,053 | +€772 | +12.3% |
| Accrued charges and deferred income | 492/3 | €0 | €253 | +€253 | |
| Other operating charges | 640/8 | €815 | €980 | +€165 | +20.3% |
| Gross operating margin | 9900 | €7,801 | €5,874 | -€1,927 | -24.7% |
| Operating profit (loss) | 9901 | €6,986 | €4,894 | -€2,092 | -29.9% |
| Financial income | 75/76B | €69 | €120 | +€51 | +74.6% |
| Recurring financial income | 75 | €69 | €120 | +€51 | +74.6% |
| Financial charges | 65/66B | €85 | €103 | +€18 | +20.8% |
| Recurring financial charges | 65 | €85 | €103 | +€18 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €6,970 | €4,912 | -€2,058 | -29.5% |
| Income taxes | 67/77 | - | €131 | +€131 | |
| Profit (loss) for the period | 9904 | €6,970 | €4,781 | -€2,190 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,970 | €4,781 | -€2,190 | -31.4% |
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 10 October 2026 via checked.be.