WELTI: 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.
WELTI
Largest movements
- Tangible fixed assets +€502,630
up €502,630 (+2063.8%), from €24,355 to €526,984
of which Land and buildings: +€460,706
- Receivables within one year +€94,292
up €94,292 (+2257.1%), from €4,178 to €98,470
of which Other amounts receivable: +€97,241
- Deferred charges and accrued income +€15,732
up €15,732 (+138.3%), from €11,375 to €27,108
- Cash +€9,402
up €9,402 (+51.2%), from €18,364 to €27,766
mainly Debts after one year (+€584,639) and Net result for the year (+€34,902)
- Debts after one year +€584,639
new in 2025: €584,639
- Reserves +€34,902
up €34,902 (+139.9%), from €24,940 to €59,842
- Taxes -€8,608
down €8,608 (-98.2%), from €8,770 to €162
- Other operating charges +€6,214
up €6,214 (+1953.5%), from €318 to €6,532
- Depreciation -€6,025
down €6,025 (-33.7%), from €17,899 to €11,874
- Financial charges +€5,290
up €5,290 (+1362.0%), from €388 to €5,678
- Gross operating margin +€1,279
up €1,279 (+2.2%), from €57,784 to €59,063
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 | €58,272 | €680,328 | +€622,057 | +1067.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €24,355 | €526,984 | +€502,630 | +2063.8% |
| Tangible fixed assets | 22/27 | €24,355 | €526,984 | +€502,630 | +2063.8% |
| Land and buildings | 22 | - | €460,706 | +€460,706 | |
| Plant, machinery and equipment | 23 | €6,444 | €4,406 | -€2,038 | -31.6% |
| Furniture and vehicles | 24 | €17,910 | €2,912 | -€14,998 | -83.7% |
| Leasing and similar rights | 25 | - | €58,960 | +€58,960 | |
| Current assets | 29/58 | €33,917 | €153,344 | +€119,427 | +352.1% |
| Amounts receivable within one year | 40/41 | €4,178 | €98,470 | +€94,292 | +2257.1% |
| Trade receivables | 40 | €2,948 | - | -€2,948 | |
| Other amounts receivable | 41 | €1,230 | €98,470 | +€97,241 | +7908.6% |
| Cash at bank and in hand | 54/58 | €18,364 | €27,766 | +€9,402 | +51.2% |
| Deferred charges and accrued income | 490/1 | €11,375 | €27,108 | +€15,732 | +138.3% |
| Total equity and liabilities | 10/49 | €58,272 | €680,328 | +€622,057 | +1067.5% |
| Equity | 10/15 | €43,540 | €78,442 | +€34,902 | +80.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,940 | €59,842 | +€34,902 | +139.9% |
| Distributable reserves | 133 | €24,940 | €59,842 | +€34,902 | +139.9% |
| Amounts payable | 17/49 | €14,732 | €601,886 | +€587,154 | +3985.5% |
| Amounts payable after more than one year | 17 | - | €584,639 | +€584,639 | |
| Financial debts | 170/4 | - | €584,639 | +€584,639 | |
| Amounts payable within one year | 42/48 | €14,732 | €17,247 | +€2,515 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €11,175 | €12,148 | +€972 | +8.7% |
| Trade debts | 44 | €197 | €5,100 | +€4,903 | +2486.8% |
| Suppliers | 440/4 | €197 | €5,100 | +€4,903 | +2486.8% |
| Taxes, remuneration and social security | 45 | €2,700 | - | -€2,700 | |
| Taxes | 450/3 | €2,700 | - | -€2,700 | |
| Other amounts payable | 47/48 | €660 | - | -€660 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,899 | €11,874 | -€6,025 | -33.7% |
| Other operating charges | 640/8 | €318 | €6,532 | +€6,214 | +1953.5% |
| Gross operating margin | 9900 | €57,784 | €59,063 | +€1,279 | +2.2% |
| Operating profit (loss) | 9901 | €39,567 | €40,657 | +€1,090 | +2.8% |
| Financial income | 75/76B | €150 | €86 | -€64 | -42.7% |
| Recurring financial income | 75 | €150 | €86 | -€64 | -42.7% |
| Financial charges | 65/66B | €388 | €5,678 | +€5,290 | +1362.0% |
| Recurring financial charges | 65 | €388 | €5,678 | +€5,290 | +1362.0% |
| Profit (loss) for the period before taxes | 9903 | €39,328 | €35,064 | -€4,264 | -10.8% |
| Income taxes | 67/77 | €8,770 | €162 | -€8,608 | -98.2% |
| Profit (loss) for the period | 9904 | €30,558 | €34,902 | +€4,344 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,558 | €34,902 | +€4,344 | +14.2% |
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.