WELS CONSTRUCT: 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.
WELS CONSTRUCT
Largest movements
- Receivables within one year +€50,683
up €50,683 (+361%), from €14,033 to €64,716
of which Other amounts receivable: +€37,938
- Cash +€8,690
up €8,690 (+112%), from €7,765 to €16,455
mainly Net result for the year (+€59,095) and Depreciation (+€2,348)
- Deferred charges and accrued income +€2,167
up €2,167 (+28.0%), from €7,748 to €9,915
- Tangible fixed assets -€2,088
down €2,088 (-50.0%), from €4,175 to €2,088
of which Furniture and vehicles: -€1,939
- Profit (loss) carried forward +€59,095
up €59,095 (+196%), from €30,202 to €89,296
- Turnover +€90,064
up €90,064 (+75.1%), from €119,881 to €209,945
- Gross operating margin +€46,366
up €46,366 (+187%), from €24,835 to €71,200
- Purchases and services +€42,763
up €42,763 (+44.6%), from €95,982 to €138,745
- Staff costs -€8,671
down €8,671 (-66.8%), from €12,979 to €4,308
- Taxes +€6,314
new in 2024: €6,314
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,502 | €93,694 | +€59,193 | +172% |
| Formation expenses | 20 | €780 | €520 | -€260 | -33.3% |
| Fixed assets | 21/28 | €4,175 | €2,088 | -€2,088 | -50.0% |
| Tangible fixed assets | 22/27 | €4,175 | €2,088 | -€2,088 | -50.0% |
| Plant, machinery and equipment | 23 | €298 | €149 | -€149 | -50.0% |
| Furniture and vehicles | 24 | €3,878 | €1,939 | -€1,939 | -50.0% |
| Current assets | 29/58 | €29,546 | €91,087 | +€61,540 | +208% |
| Amounts receivable within one year | 40/41 | €14,033 | €64,716 | +€50,683 | +361% |
| Trade receivables | 40 | €1,800 | €14,545 | +€12,745 | +708% |
| Other amounts receivable | 41 | €12,233 | €50,171 | +€37,938 | +310% |
| Cash at bank and in hand | 54/58 | €7,765 | €16,455 | +€8,690 | +112% |
| Deferred charges and accrued income | 490/1 | €7,748 | €9,915 | +€2,167 | +28.0% |
| Total equity and liabilities | 10/49 | €34,502 | €93,694 | +€59,193 | +172% |
| Equity | 10/15 | €34,502 | €93,596 | +€59,095 | +171% |
| Contributions | 10/11 | €4,300 | €4,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,202 | €89,296 | +€59,095 | +196% |
| Amounts payable | 17/49 | - | €98 | +€98 | |
| Accrued charges and deferred income | 492/3 | - | €98 | +€98 | |
| Turnover | 70 | €119,881 | €209,945 | +€90,064 | +75.1% |
| Non-recurring operating income | 76A | €936 | - | -€936 | |
| Goods, raw materials, services and sundry goods | 60/61 | €95,982 | €138,745 | +€42,763 | +44.6% |
| Remuneration, social security and pensions | 62 | €12,979 | €4,308 | -€8,671 | -66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,348 | €2,348 | = | 0.0% |
| Other operating charges | 640/8 | €645 | €158 | -€487 | -75.5% |
| Non-recurring operating charges | 66A | €1,249 | €51 | -€1,197 | -95.9% |
| Gross operating margin | 9900 | €24,835 | €71,200 | +€46,366 | +187% |
| Operating profit (loss) | 9901 | €7,614 | €64,334 | +€56,720 | +745% |
| Financial income | 75/76B | €700 | €1,942 | +€1,241 | +177% |
| Recurring financial income | 75 | €700 | €1,942 | +€1,241 | +177% |
| Financial charges | 65/66B | €1,069 | €868 | -€202 | -18.9% |
| Recurring financial charges | 65 | €1,069 | €868 | -€202 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €7,245 | €65,408 | +€58,163 | +803% |
| Income taxes | 67/77 | - | €6,314 | +€6,314 | |
| Profit (loss) for the period | 9904 | €7,245 | €59,095 | +€51,850 | +716% |
| Profit (loss) for the period to be appropriated | 9905 | €7,245 | €59,095 | +€51,850 | +716% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.