WELTRACO: 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.
WELTRACO
Largest movements
- Deferred charges and accrued income +€112,918
up €112,918 (+716%), from €15,768 to €128,686
- Current investments -€96,650
down €96,650 (-100%), from €96,650 to €0
- Cash +€89,440
up €89,440 (+86.5%), from €103,406 to €192,846
mainly Depreciation (+€317,743) and Trade debts (+€128,183)
- Tangible fixed assets +€82,869
up €82,869 (+7.5%), from €1.1m to €1.2m
of which Plant, machinery and equipment: +€66,092
- Receivables within one year +€64,143
up €64,143 (+29.7%), from €215,702 to €279,845
of which Trade receivables: +€46,202
- Trade debts +€128,183
up €128,183 (+67.1%), from €191,069 to €319,252
- Profit (loss) carried forward +€113,474
up €113,474 (+60.1%), from -€188,852 to -€75,378
- Tax, wage and social debts -€34,169
down €34,169 (-15.3%), from €223,012 to €188,844
of which Taxes: -€17,889
- Current portion of long-term debt +€30,325
up €30,325 (+10.5%), from €288,125 to €318,450
- Financial income +€119,075
up €119,075 (+32,038%), from €372 to €119,446
- Financial charges +€113,815
up €113,815 (+234%), from €48,608 to €162,423
- Staff costs +€57,734
up €57,734 (+4.6%), from €1.2m to €1.3m
- Gross operating margin -€52,576
down €52,576 (-2.8%), from €1.9m to €1.8m
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,088,203 | €2,312,374 | +€224,171 | +10.7% |
| Fixed assets | 21/28 | €1,107,405 | €1,190,274 | +€82,869 | +7.5% |
| Tangible fixed assets | 22/27 | €1,100,033 | €1,182,902 | +€82,869 | +7.5% |
| Plant, machinery and equipment | 23 | €348,460 | €414,551 | +€66,092 | +19.0% |
| Furniture and vehicles | 24 | €42,874 | €50,611 | +€7,737 | +18.0% |
| Leasing and similar rights | 25 | €141,585 | €99,790 | -€41,795 | -29.5% |
| Other tangible fixed assets | 26 | €567,114 | €617,949 | +€50,835 | +9.0% |
| Financial fixed assets | 28 | €7,372 | €7,372 | = | 0.0% |
| Current assets | 29/58 | €980,799 | €1,122,100 | +€141,302 | +14.4% |
| Stocks and contracts in progress | 3 | €549,273 | €520,723 | -€28,550 | -5.2% |
| Stocks | 30/36 | €549,273 | €520,723 | -€28,550 | -5.2% |
| Amounts receivable within one year | 40/41 | €215,702 | €279,845 | +€64,143 | +29.7% |
| Trade receivables | 40 | €191,694 | €237,896 | +€46,202 | +24.1% |
| Other amounts receivable | 41 | €24,009 | €41,949 | +€17,941 | +74.7% |
| Current investments | 50/53 | €96,650 | €0 | -€96,650 | -100% |
| Cash at bank and in hand | 54/58 | €103,406 | €192,846 | +€89,440 | +86.5% |
| Deferred charges and accrued income | 490/1 | €15,768 | €128,686 | +€112,918 | +716% |
| Total equity and liabilities | 10/49 | €2,088,203 | €2,312,374 | +€224,171 | +10.7% |
| Equity | 10/15 | €73,789 | €187,263 | +€113,474 | +154% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €244,049 | €244,049 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,574 | €28,574 | = | 0.0% |
| Distributable reserves | 133 | €213,616 | €213,616 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188,852 | -€75,378 | +€113,474 | +60.1% |
| Amounts payable | 17/49 | €2,014,415 | €2,125,111 | +€110,696 | +5.5% |
| Amounts payable after more than one year | 17 | €1,282,799 | €1,284,301 | +€1,502 | +0.1% |
| Financial debts | 170/4 | €615,175 | €507,088 | -€108,087 | -17.6% |
| Trade debts | 175 | €667,624 | €777,213 | +€109,589 | +16.4% |
| Amounts payable within one year | 42/48 | €731,616 | €840,810 | +€109,194 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €288,125 | €318,450 | +€30,325 | +10.5% |
| Trade debts | 44 | €191,069 | €319,252 | +€128,183 | +67.1% |
| Suppliers | 440/4 | €191,069 | €319,252 | +€128,183 | +67.1% |
| Taxes, remuneration and social security | 45 | €223,012 | €188,844 | -€34,169 | -15.3% |
| Taxes | 450/3 | €20,038 | €2,149 | -€17,889 | -89.3% |
| Remuneration and social security | 454/9 | €202,974 | €186,694 | -€16,280 | -8.0% |
| Other amounts payable | 47/48 | €29,409 | €14,263 | -€15,146 | -51.5% |
| Remuneration, social security and pensions | 62 | €1,248,637 | €1,306,371 | +€57,734 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313,713 | €317,743 | +€4,030 | +1.3% |
| Other operating charges | 640/8 | €9,388 | €21,262 | +€11,874 | +126% |
| Gross operating margin | 9900 | €1,855,557 | €1,802,982 | -€52,576 | -2.8% |
| Operating profit (loss) | 9901 | €283,819 | €157,605 | -€126,214 | -44.5% |
| Financial income | 75/76B | €372 | €119,446 | +€119,075 | +32,038% |
| Recurring financial income | 75 | €372 | €119,446 | +€119,075 | +32,038% |
| Financial charges | 65/66B | €48,608 | €162,423 | +€113,815 | +234% |
| Recurring financial charges | 65 | €48,608 | €162,423 | +€113,815 | +234% |
| Profit (loss) for the period before taxes | 9903 | €235,582 | €114,629 | -€120,954 | -51.3% |
| Income taxes | 67/77 | €1,217 | €1,154 | -€63 | -5.2% |
| Profit (loss) for the period | 9904 | €234,365 | €113,474 | -€120,891 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €234,365 | €113,474 | -€120,891 | -51.6% |
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.