WELV'EYE: 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.
WELV'EYE
Largest movements
- Receivables within one year +€22,860
up €22,860 (+198%), from €11,571 to €34,432
of which Trade receivables: +€22,860
- Debts after one year -€39,864
down €39,864 (-100%), from €39,864 to €0
- Reserves +€26,313
up €26,313 (+12.9%), from €203,987 to €230,300
- Other debts +€20,938
up €20,938 (+25.3%), from €82,624 to €103,563
- Short-term financial debts +€20,613
new in 2025: €20,613
- Current portion of long-term debt -€16,725
down €16,725 (-29.5%), from €56,680 to €39,955
- Gross operating margin +€13,011
up €13,011 (+45.3%), from €28,709 to €41,721
- Taxes +€5,233
up €5,233 (+102%), from €5,112 to €10,346
- Other operating charges -€1,866
down €1,866 (-59.4%), from €3,143 to €1,278
- Financial charges -€1,828
down €1,828 (-35.3%), from €5,183 to €3,355
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 | €480,088 | €502,518 | +€22,430 | +4.7% |
| Fixed assets | 21/28 | €468,516 | €468,086 | -€430 | -0.1% |
| Tangible fixed assets | 22/27 | €609 | €179 | -€430 | -70.6% |
| Land and buildings | 22 | €609 | €179 | -€430 | -70.6% |
| Financial fixed assets | 28 | €467,907 | €467,907 | = | 0.0% |
| Current assets | 29/58 | €11,571 | €34,432 | +€22,860 | +198% |
| Amounts receivable within one year | 40/41 | €11,571 | €34,432 | +€22,860 | +198% |
| Trade receivables | 40 | €11,571 | €34,432 | +€22,860 | +198% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €480,088 | €502,518 | +€22,430 | +4.7% |
| Equity | 10/15 | €249,087 | €275,400 | +€26,313 | +10.6% |
| Contributions | 10/11 | €45,100 | €45,100 | = | 0.0% |
| Reserves | 13 | €203,987 | €230,300 | +€26,313 | +12.9% |
| Distributable reserves | 133 | €203,987 | €230,300 | +€26,313 | +12.9% |
| Amounts payable | 17/49 | €231,000 | €227,118 | -€3,883 | -1.7% |
| Amounts payable after more than one year | 17 | €39,864 | €0 | -€39,864 | -100% |
| Financial debts | 170/4 | €39,864 | €0 | -€39,864 | -100% |
| Amounts payable within one year | 42/48 | €191,137 | €227,118 | +€35,981 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €56,680 | €39,955 | -€16,725 | -29.5% |
| Financial debts | 43 | - | €20,613 | +€20,613 | |
| Credit institutions | 430/8 | - | €20,613 | +€20,613 | |
| Trade debts | 44 | €18,698 | €13,698 | -€5,000 | -26.7% |
| Suppliers | 440/4 | €18,698 | €13,698 | -€5,000 | -26.7% |
| Taxes, remuneration and social security | 45 | €33,134 | €49,290 | +€16,156 | +48.8% |
| Taxes | 450/3 | €25,134 | €35,290 | +€10,156 | +40.4% |
| Remuneration and social security | 454/9 | €8,000 | €14,000 | +€6,000 | +75.0% |
| Other amounts payable | 47/48 | €82,624 | €103,563 | +€20,938 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €430 | €430 | = | 0.0% |
| Other operating charges | 640/8 | €3,143 | €1,278 | -€1,866 | -59.4% |
| Gross operating margin | 9900 | €28,709 | €41,721 | +€13,011 | +45.3% |
| Operating profit (loss) | 9901 | €25,136 | €40,013 | +€14,877 | +59.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €5,183 | €3,355 | -€1,828 | -35.3% |
| Recurring financial charges | 65 | €5,183 | €3,355 | -€1,828 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €19,953 | €36,659 | +€16,705 | +83.7% |
| Income taxes | 67/77 | €5,112 | €10,346 | +€5,233 | +102% |
| Profit (loss) for the period | 9904 | €14,841 | €26,313 | +€11,472 | +77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,841 | €26,313 | +€11,472 | +77.3% |
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 28 October 2026 via checked.be.