WELZIJN: 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.
WELZIJN
Largest movements
- Cash -€1.2m
down €1.2m (-53.7%), from €2.2m to €1.0m
mainly Current investments (-€749,998) and Investment in fixed assets (net) (-€393,917)
- Current investments +€749,998
up €749,998 (+429%), from €174,984 to €924,982
- Tangible fixed assets +€207,095
up €207,095 (+9.9%), from €2.1m to €2.3m
of which Other tangible fixed assets: +€315,179
- Profit (loss) carried forward -€220,988
down €220,988 (-15.6%), from €1.4m to €1.2m
- Gross operating margin -€1.8m
down €1.8m (-99.9%), from €1.8m to €2,581
- Depreciation -€36,962
down €36,962 (-16.4%), from €225,337 to €188,375
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 | €4,467,925 | €4,247,343 | -€220,582 | -4.9% |
| Fixed assets | 21/28 | €2,101,413 | €2,306,956 | +€205,542 | +9.8% |
| Tangible fixed assets | 22/27 | €2,086,557 | €2,293,652 | +€207,095 | +9.9% |
| Land and buildings | 22 | €1,761,831 | €1,694,368 | -€67,463 | -3.8% |
| Plant, machinery and equipment | 23 | €137,165 | €96,545 | -€40,621 | -29.6% |
| Other tangible fixed assets | 26 | €187,560 | €502,739 | +€315,179 | +168% |
| Financial fixed assets | 28 | €14,856 | €13,304 | -€1,553 | -10.5% |
| Current assets | 29/58 | €2,366,512 | €1,940,387 | -€426,125 | -18.0% |
| Amounts receivable within one year | 40/41 | €11 | €11 | = | 0.0% |
| Other amounts receivable | 41 | €11 | €11 | = | 0.0% |
| Current investments | 50/53 | €174,984 | €924,982 | +€749,998 | +429% |
| Cash at bank and in hand | 54/58 | €2,180,051 | €1,008,297 | -€1.2m | -53.7% |
| Deferred charges and accrued income | 490/1 | €11,465 | €7,097 | -€4,368 | -38.1% |
| Total equity and liabilities | 10/49 | €4,467,925 | €4,247,343 | -€220,582 | -4.9% |
| Equity | 10/15 | €4,464,160 | €4,243,171 | -€220,988 | -5.0% |
| Contributions | 10/11 | €2,789,909 | €2,789,909 | = | 0.0% |
| Capital | 10 | €2,789,909 | €2,789,909 | = | 0.0% |
| Reserves | 13 | €254,339 | €254,339 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,419,912 | €1,198,923 | -€220,988 | -15.6% |
| Amounts payable | 17/49 | €3,765 | €4,171 | +€406 | +10.8% |
| Amounts payable within one year | 42/48 | €2,603 | €1,215 | -€1,388 | -53.3% |
| Taxes, remuneration and social security | 45 | €2,603 | €1,215 | -€1,388 | -53.3% |
| Taxes | 450/3 | €466 | €588 | +€123 | +26.3% |
| Remuneration and social security | 454/9 | €2,137 | €627 | -€1,510 | -70.7% |
| Accrued charges and deferred income | 492/3 | €1,163 | €2,957 | +€1,794 | +154% |
| Non-recurring operating income | 76A | €1,800,062 | €49 | -€1.8m | -100.0% |
| Remuneration, social security and pensions | 62 | €6,786 | €5,687 | -€1,099 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €225,337 | €188,375 | -€36,962 | -16.4% |
| Other operating charges | 640/8 | €11,529 | €18,590 | +€7,061 | +61.2% |
| Non-recurring operating charges | 66A | €51 | €5,392 | +€5,341 | +10,547% |
| Gross operating margin | 9900 | €1,775,537 | €2,581 | -€1.8m | -99.9% |
| Operating profit (loss) | 9901 | €1,531,834 | -€215,463 | -€1.7m | |
| Financial income | 75/76B | €445 | €365 | -€80 | -17.9% |
| Recurring financial income | 75 | €445 | €365 | -€80 | -17.9% |
| Financial charges | 65/66B | €5,686 | €5,891 | +€205 | +3.6% |
| Recurring financial charges | 65 | €5,686 | €5,891 | +€205 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €1,526,592 | -€220,988 | -€1.7m | |
| Profit (loss) for the period | 9904 | €1,526,592 | -€220,988 | -€1.7m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,526,592 | -€220,988 | -€1.7m |
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 22 October 2026 via checked.be.