WEM: 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.
WEM
Largest movements
- Cash +€244,122
up €244,122 (+266%), from €91,897 to €336,019
mainly Debts after one year (+€198,331) and Trade debts (+€100,688)
- Stocks and contracts -€65,333
down €65,333 (-15.3%), from €426,452 to €361,119
- Deferred charges and accrued income +€13,696
up €13,696 (+259%), from €5,297 to €18,993
- Financial fixed assets +€12,843
up €12,843 (+28,541%), from €45 to €12,888
- Debts after one year +€198,331
up €198,331 (+217%), from €91,198 to €289,528
- Current portion of long-term debt -€173,921
down €173,921 (-85.5%), from €203,487 to €29,566
- Trade debts +€100,688
up €100,688 (+152%), from €66,351 to €167,039
- Reserves +€65,445
up €65,445 (+35.9%), from €182,192 to €247,637
of which Distributable reserves: +€65,445
- Tax, wage and social debts +€20,019
up €20,019 (+40.9%), from €48,894 to €68,914
of which Remuneration and social security: +€15,015
- Gross operating margin +€397,656
up €397,656 (+83.2%), from €477,725 to €875,380
- Staff costs +€240,747
up €240,747 (+56.4%), from €427,067 to €667,814
- Other operating charges +€46,200
up €46,200 (+1,015%), from €4,554 to €50,754
- Taxes +€31,755
up €31,755 (+795%), from €3,994 to €35,749
- Depreciation +€15,535
up €15,535 (+109%), from €14,207 to €29,742
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 | €831,437 | €1,045,696 | +€214,258 | +25.8% |
| Fixed assets | 21/28 | €110,598 | €124,262 | +€13,663 | +12.4% |
| Tangible fixed assets | 22/27 | €110,553 | €111,373 | +€820 | +0.7% |
| Plant, machinery and equipment | 23 | €6,782 | €10,269 | +€3,487 | +51.4% |
| Furniture and vehicles | 24 | €94,420 | €72,554 | -€21,867 | -23.2% |
| Other tangible fixed assets | 26 | €9,351 | €28,551 | +€19,200 | +205% |
| Financial fixed assets | 28 | €45 | €12,888 | +€12,843 | +28,541% |
| Current assets | 29/58 | €720,839 | €921,434 | +€200,595 | +27.8% |
| Stocks and contracts in progress | 3 | €426,452 | €361,119 | -€65,333 | -15.3% |
| Stocks | 30/36 | €426,452 | €361,119 | -€65,333 | -15.3% |
| Amounts receivable within one year | 40/41 | €197,193 | €205,303 | +€8,110 | +4.1% |
| Trade receivables | 40 | €135,298 | €160,240 | +€24,942 | +18.4% |
| Other amounts receivable | 41 | €61,895 | €45,063 | -€16,832 | -27.2% |
| Cash at bank and in hand | 54/58 | €91,897 | €336,019 | +€244,122 | +266% |
| Deferred charges and accrued income | 490/1 | €5,297 | €18,993 | +€13,696 | +259% |
| Total equity and liabilities | 10/49 | €831,437 | €1,045,696 | +€214,258 | +25.8% |
| Equity | 10/15 | €188,392 | €253,837 | +€65,445 | +34.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €182,192 | €247,637 | +€65,445 | +35.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €180,332 | €245,777 | +€65,445 | +36.3% |
| Amounts payable | 17/49 | €643,046 | €791,859 | +€148,813 | +23.1% |
| Amounts payable after more than one year | 17 | €91,198 | €289,528 | +€198,331 | +217% |
| Financial debts | 170/4 | €91,198 | €289,528 | +€198,331 | +217% |
| Amounts payable within one year | 42/48 | €551,848 | €502,330 | -€49,518 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €203,487 | €29,566 | -€173,921 | -85.5% |
| Financial debts | 43 | €230,103 | €236,811 | +€6,708 | +2.9% |
| Credit institutions | 430/8 | €230,103 | €236,811 | +€6,708 | +2.9% |
| Trade debts | 44 | €66,351 | €167,039 | +€100,688 | +152% |
| Suppliers | 440/4 | €66,351 | €167,039 | +€100,688 | +152% |
| Taxes, remuneration and social security | 45 | €48,894 | €68,914 | +€20,019 | +40.9% |
| Taxes | 450/3 | €2,608 | €7,612 | +€5,004 | +192% |
| Remuneration and social security | 454/9 | €46,287 | €61,302 | +€15,015 | +32.4% |
| Other amounts payable | 47/48 | €3,012 | €0 | -€3,012 | -100% |
| Remuneration, social security and pensions | 62 | €427,067 | €667,814 | +€240,747 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,207 | €29,742 | +€15,535 | +109% |
| Other operating charges | 640/8 | €4,554 | €50,754 | +€46,200 | +1,015% |
| Gross operating margin | 9900 | €477,725 | €875,380 | +€397,656 | +83.2% |
| Operating profit (loss) | 9901 | €31,896 | €127,069 | +€95,174 | +298% |
| Financial income | 75/76B | €5,968 | €2,288 | -€3,680 | -61.7% |
| Recurring financial income | 75 | €5,968 | €2,288 | -€3,680 | -61.7% |
| Financial charges | 65/66B | €33,861 | €28,163 | -€5,699 | -16.8% |
| Recurring financial charges | 65 | €33,861 | €28,163 | -€5,699 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €4,002 | €101,194 | +€97,192 | +2,428% |
| Income taxes | 67/77 | €3,994 | €35,749 | +€31,755 | +795% |
| Profit (loss) for the period | 9904 | €8 | €65,445 | +€65,437 | +796,069% |
| Profit (loss) for the period to be appropriated | 9905 | €8 | €65,445 | +€65,437 | +796,069% |
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 14 October 2026 via checked.be.