WELTERS: 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
WELTERS
NACE 47.761, Retail sale of flowers, plants, seeds and fertilisers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€13,690
2024 · €89,529-€75,839
Equity
€273,522
2024 · €259,831+€13,690
Cash
€2,634
2024 · €1,522+€1,112
Balance sheet total
€1.0m
2024 · €1.1m-€84,137
Largest movements
Assets
- Tangible fixed assets -€78,936
down €78,936 (-10.2%), from €770,646 to €691,711
of which Land and buildings: -€61,148
Equity and liabilities
- Debts after one year -€80,269
down €80,269 (-17.8%), from €450,605 to €370,335
- Trade debts -€35,161
down €35,161 (-20.9%), from €167,860 to €132,699
- Other debts +€21,490
up €21,490 (+35.8%), from €60,064 to €81,555
- Reserves +€13,690
up €13,690 (+6.5%), from €210,005 to €223,695
of which Distributable reserves: +€13,690
Income statement
- Gross operating margin -€64,936
down €64,936 (-27.0%), from €240,510 to €175,574
- Write-downs +€41,405
new in 2025: €41,405
- Staff costs -€22,419
down €22,419 (-56.2%), from €39,900 to €17,481
- Financial charges -€7,893
down €7,893 (-32.9%), from €23,979 to €16,086
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
€89,529
Gross operating margin
-€64,936
Staff costs
+€22,419
Depreciation
+€1,352
Write-downs
-€41,405
Other operating charges
-€637
Financial income
+€265
Financial charges
+€7,893
Taxes
-€790
Result 2025
€13,690
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
+€63,481
Investment
+€16,580
Financing
-€78,949
Cash 2024
€1,522
From operations (derived)
+€63,481
Net result for the year
+€13,690
Depreciation
+€62,356
Stocks and contracts
+€5,145
Receivables within one year
+€1,477
Deferred charges and accrued income
-€309
Trade debts
-€35,161
Tax, wage and social debts
-€5,208
Other debts
+€21,490
Investment (derived)
+€16,580
Investment in fixed assets (net)
+€16,580
Financing
-€78,949
Debts after one year
-€80,269
Current portion of long-term debt
+€1,401
Short-term financial debts
-€81
Cash 2025
€2,634
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,103,168 | €1,019,031 | -€84,137 | -7.6% |
| Fixed assets | 21/28 | €770,646 | €691,711 | -€78,936 | -10.2% |
| Tangible fixed assets | 22/27 | €770,646 | €691,711 | -€78,936 | -10.2% |
| Land and buildings | 22 | €701,734 | €640,586 | -€61,148 | -8.7% |
| Plant, machinery and equipment | 23 | €64,971 | €47,014 | -€17,958 | -27.6% |
| Furniture and vehicles | 24 | €738 | €601 | -€137 | -18.6% |
| Other tangible fixed assets | 26 | €3,203 | €3,510 | +€307 | +9.6% |
| Current assets | 29/58 | €332,522 | €327,320 | -€5,202 | -1.6% |
| Stocks and contracts in progress | 3 | €321,978 | €316,833 | -€5,145 | -1.6% |
| Stocks | 30/36 | €321,978 | €316,833 | -€5,145 | -1.6% |
| Amounts receivable within one year | 40/41 | €5,399 | €3,922 | -€1,477 | -27.4% |
| Trade receivables | 40 | €1,975 | €1,094 | -€881 | -44.6% |
| Other amounts receivable | 41 | €3,425 | €2,828 | -€597 | -17.4% |
| Cash at bank and in hand | 54/58 | €1,522 | €2,634 | +€1,112 | +73.1% |
| Deferred charges and accrued income | 490/1 | €3,623 | €3,931 | +€309 | +8.5% |
| Total equity and liabilities | 10/49 | €1,103,168 | €1,019,031 | -€84,137 | -7.6% |
| Equity | 10/15 | €259,831 | €273,522 | +€13,690 | +5.3% |
| Contributions | 10/11 | €49,827 | €49,827 | = | 0.0% |
| Reserves | 13 | €210,005 | €223,695 | +€13,690 | +6.5% |
| Non-distributable reserves | 130/1 | €9,440 | €9,440 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,440 | €9,440 | = | 0.0% |
| Distributable reserves | 133 | €200,565 | €214,255 | +€13,690 | +6.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €843,337 | €745,509 | -€97,828 | -11.6% |
| Amounts payable after more than one year | 17 | €450,605 | €370,335 | -€80,269 | -17.8% |
| Financial debts | 170/4 | €450,605 | €370,335 | -€80,269 | -17.8% |
| Amounts payable within one year | 42/48 | €392,733 | €375,174 | -€17,558 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €78,868 | €80,269 | +€1,401 | +1.8% |
| Financial debts | 43 | €60,081 | €60,000 | -€81 | -0.1% |
| Credit institutions | 430/8 | €60,081 | €60,000 | -€81 | -0.1% |
| Trade debts | 44 | €167,860 | €132,699 | -€35,161 | -20.9% |
| Suppliers | 440/4 | €167,860 | €132,699 | -€35,161 | -20.9% |
| Taxes, remuneration and social security | 45 | €25,859 | €20,652 | -€5,208 | -20.1% |
| Taxes | 450/3 | €24,389 | €19,221 | -€5,168 | -21.2% |
| Remuneration and social security | 454/9 | €1,471 | €1,430 | -€40 | -2.7% |
| Other amounts payable | 47/48 | €60,064 | €81,555 | +€21,490 | +35.8% |
| Remuneration, social security and pensions | 62 | €39,900 | €17,481 | -€22,419 | -56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,708 | €62,356 | -€1,352 | -2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €41,405 | +€41,405 | |
| Other operating charges | 640/8 | €18,572 | €19,208 | +€637 | +3.4% |
| Gross operating margin | 9900 | €240,510 | €175,574 | -€64,936 | -27.0% |
| Operating profit (loss) | 9901 | €118,330 | €35,124 | -€83,206 | -70.3% |
| Financial income | 75/76B | €164 | €429 | +€265 | +161% |
| Recurring financial income | 75 | €164 | €429 | +€265 | +161% |
| Financial charges | 65/66B | €23,979 | €16,086 | -€7,893 | -32.9% |
| Recurring financial charges | 65 | €23,979 | €16,086 | -€7,893 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €94,515 | €19,467 | -€75,048 | -79.4% |
| Income taxes | 67/77 | €4,986 | €5,777 | +€790 | +15.9% |
| Profit (loss) for the period | 9904 | €89,529 | €13,690 | -€75,839 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,529 | €13,690 | -€75,839 | -84.7% |
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 23 October 2026 via checked.be.