WELROSE: 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.
WELROSE
Largest movements
- Tangible fixed assets -€9,046
down €9,046 (-24.8%), from €36,514 to €27,468
- Cash -€3,483
down €3,483 (-44.9%), from €7,749 to €4,267
mainly Debts after one year (-€7,169) and Trade debts (-€6,869)
- Receivables within one year -€584
no longer reported in 2025 (was €584)
of which Other amounts receivable: -€462
- Debts after one year -€7,169
down €7,169 (-27.3%), from €26,226 to €19,057
- Trade debts -€6,869
down €6,869 (-97.1%), from €7,075 to €206
- Profit (loss) carried forward -€3,783
down €3,783 (-88.9%), from -€4,255 to -€8,038
- Other debts +€3,465
up €3,465 (+48.8%), from €7,098 to €10,563
- Tax, wage and social debts +€582
up €582 (+54.2%), from €1,074 to €1,656
- Gross operating margin +€4,809
up €4,809 (+180.5%), from €2,664 to €7,473
- Depreciation +€3,947
up €3,947 (+71.6%), from €5,514 to €9,461
- Financial charges +€340
up €340 (+40.1%), from €848 to €1,189
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 | €46,641 | €33,113 | -€13,528 | -29.0% |
| Formation expenses | 20 | €1,793 | €1,378 | -€415 | -23.1% |
| Fixed assets | 21/28 | €36,514 | €27,468 | -€9,046 | -24.8% |
| Tangible fixed assets | 22/27 | €36,514 | €27,468 | -€9,046 | -24.8% |
| Furniture and vehicles | 24 | €36,514 | €27,468 | -€9,046 | -24.8% |
| Current assets | 29/58 | €8,333 | €4,267 | -€4,066 | -48.8% |
| Amounts receivable within one year | 40/41 | €584 | - | -€584 | |
| Trade receivables | 40 | €122 | - | -€122 | |
| Other amounts receivable | 41 | €462 | - | -€462 | |
| Cash at bank and in hand | 54/58 | €7,749 | €4,267 | -€3,483 | -44.9% |
| Total equity and liabilities | 10/49 | €46,641 | €33,113 | -€13,528 | -29.0% |
| Equity | 10/15 | -€1,755 | -€5,538 | -€3,783 | -215.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,255 | -€8,038 | -€3,783 | -88.9% |
| Amounts payable | 17/49 | €48,395 | €38,651 | -€9,744 | -20.1% |
| Amounts payable after more than one year | 17 | €26,226 | €19,057 | -€7,169 | -27.3% |
| Financial debts | 170/4 | €26,226 | €19,057 | -€7,169 | -27.3% |
| Amounts payable within one year | 42/48 | €22,170 | €19,594 | -€2,575 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €6,923 | €7,169 | +€246 | +3.6% |
| Trade debts | 44 | €7,075 | €206 | -€6,869 | -97.1% |
| Suppliers | 440/4 | €7,075 | €206 | -€6,869 | -97.1% |
| Taxes, remuneration and social security | 45 | €1,074 | €1,656 | +€582 | +54.2% |
| Taxes | 450/3 | €1,074 | €1,656 | +€582 | +54.2% |
| Other amounts payable | 47/48 | €7,098 | €10,563 | +€3,465 | +48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,514 | €9,461 | +€3,947 | +71.6% |
| Other operating charges | 640/8 | €471 | €474 | +€3 | +0.7% |
| Gross operating margin | 9900 | €2,664 | €7,473 | +€4,809 | +180.5% |
| Operating profit (loss) | 9901 | -€3,321 | -€2,463 | +€858 | +25.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €848 | €1,189 | +€340 | +40.1% |
| Recurring financial charges | 65 | €848 | €1,189 | +€340 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,169 | -€3,651 | +€518 | +12.4% |
| Income taxes | 67/77 | €85 | €132 | +€47 | +54.7% |
| Profit (loss) for the period | 9904 | -€4,255 | -€3,783 | +€471 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,255 | -€3,783 | +€471 | +11.1% |
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 8 October 2026 via checked.be.