WELPJ: 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
WELPJ
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€318
2024 · €1,521-€1,203
Equity
€2,318
2024 · €1,999+€318
Cash
€3,686
2024 · €4,147-€462
Balance sheet total
€263,984
2024 · €273,344-€9,360
Largest movements
Assets
- Tangible fixed assets -€8,072
down €8,072 (-3.0%), from €266,577 to €258,505
of which Land and buildings: -€8,780
Equity and liabilities
- Debts after one year -€7,485
down €7,485 (-17.1%), from €43,764 to €36,279
Income statement
- Depreciation +€927
up €927 (+10.5%), from €8,803 to €9,730
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
€1,521
Gross operating margin
-€251
Depreciation
-€927
Other operating charges
-€58
Financial income
-€1
Financial charges
+€33
Result 2025
€318
raises the resultlowers the result
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
+€9,911
Investment
-€1,658
Financing
-€8,714
Cash 2024
€4,147
From operations (derived)
+€9,911
Net result for the year
+€318
Depreciation
+€9,730
Deferred charges and accrued income
+€826
Provisions
+€1,758
Trade debts
-€22
Other debts
-€2,646
Accrued charges and deferred income
-€53
Investment (derived)
-€1,658
Investment in fixed assets (net)
-€1,658
Financing
-€8,714
Debts after one year
-€7,485
Current portion of long-term debt
-€1,229
Cash 2025
€3,686
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €273,344 | €263,984 | -€9,360 | -3.4% |
| Fixed assets | 21/28 | €266,827 | €258,755 | -€8,072 | -3.0% |
| Tangible fixed assets | 22/27 | €266,577 | €258,505 | -€8,072 | -3.0% |
| Land and buildings | 22 | €264,521 | €255,741 | -€8,780 | -3.3% |
| Plant, machinery and equipment | 23 | €1,367 | €867 | -€500 | -36.6% |
| Furniture and vehicles | 24 | €690 | €1,897 | +€1,207 | +175% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €6,517 | €5,229 | -€1,288 | -19.8% |
| Cash at bank and in hand | 54/58 | €4,147 | €3,686 | -€462 | -11.1% |
| Deferred charges and accrued income | 490/1 | €2,369 | €1,543 | -€826 | -34.9% |
| Total equity and liabilities | 10/49 | €273,344 | €263,984 | -€9,360 | -3.4% |
| Equity | 10/15 | €1,999 | €2,318 | +€318 | +15.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,001 | -€2,682 | +€318 | +10.6% |
| Provisions and deferred taxes | 16 | €210,054 | €211,812 | +€1,758 | +0.8% |
| Provisions for liabilities and charges | 160/5 | €210,054 | €211,812 | +€1,758 | +0.8% |
| Other liabilities and charges | 164/5 | €210,054 | €211,812 | +€1,758 | +0.8% |
| Amounts payable | 17/49 | €61,291 | €49,855 | -€11,436 | -18.7% |
| Amounts payable after more than one year | 17 | €43,764 | €36,279 | -€7,485 | -17.1% |
| Financial debts | 170/4 | €43,764 | €36,279 | -€7,485 | -17.1% |
| Amounts payable within one year | 42/48 | €15,363 | €11,465 | -€3,897 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €8,714 | €7,485 | -€1,229 | -14.1% |
| Trade debts | 44 | €745 | €723 | -€22 | -3.0% |
| Suppliers | 440/4 | €745 | €723 | -€22 | -3.0% |
| Taxes, remuneration and social security | 45 | €300 | €300 | = | 0.0% |
| Taxes | 450/3 | €300 | €300 | = | 0.0% |
| Other amounts payable | 47/48 | €5,604 | €2,958 | -€2,646 | -47.2% |
| Accrued charges and deferred income | 492/3 | €2,163 | €2,110 | -€53 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,803 | €9,730 | +€927 | +10.5% |
| Other operating charges | 640/8 | €1,358 | €1,416 | +€58 | +4.3% |
| Gross operating margin | 9900 | €26,309 | €26,058 | -€251 | -1.0% |
| Operating profit (loss) | 9901 | €16,148 | €14,912 | -€1,235 | -7.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €14,627 | €14,594 | -€33 | -0.2% |
| Recurring financial charges | 65 | €14,627 | €14,594 | -€33 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €1,521 | €318 | -€1,203 | -79.1% |
| Profit (loss) for the period | 9904 | €1,521 | €318 | -€1,203 | -79.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,521 | €318 | -€1,203 | -79.1% |
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 14 October 2026 via checked.be.