Werlo: 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.
Werlo
Largest movements
- Financial fixed assets +€111,260
new in 2025: €111,260
- Receivables within one year -€59,105
down €59,105 (-16.6%), from €356,824 to €297,719
of which Trade receivables: -€162,607
- Cash -€27,591
down €27,591 (-51.1%), from €54,033 to €26,442
mainly Investment in fixed assets (net) (-€116,797) and Trade debts (-€26,950)
- Profit (loss) carried forward +€48,417
up €48,417 (+16.1%), from €299,944 to €348,361
- Trade debts -€26,950
down €26,950 (-78.9%), from €34,175 to €7,226
- Accrued charges and deferred income +€6,785
up €6,785 (+98.7%), from €6,875 to €13,660
- Gross operating margin -€15,414
down €15,414 (-18.9%), from €81,770 to €66,357
- Financial income +€3,758
up €3,758 (+523%), from €718 to €4,476
- Taxes +€2,817
up €2,817 (+25.2%), from €11,183 to €14,000
- Other operating charges +€1,405
up €1,405 (+92.6%), from €1,517 to €2,922
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 | €415,642 | €443,584 | +€27,942 | +6.7% |
| Fixed assets | 21/28 | €3,828 | €118,406 | +€114,578 | +2,993% |
| Tangible fixed assets | 22/27 | €3,828 | €7,146 | +€3,318 | +86.7% |
| Plant, machinery and equipment | 23 | €914 | €519 | -€395 | -43.2% |
| Furniture and vehicles | 24 | €2,914 | €6,627 | +€3,712 | +127% |
| Financial fixed assets | 28 | - | €111,260 | +€111,260 | |
| Current assets | 29/58 | €411,813 | €325,178 | -€86,636 | -21.0% |
| Amounts receivable within one year | 40/41 | €356,824 | €297,719 | -€59,105 | -16.6% |
| Trade receivables | 40 | €260,214 | €97,607 | -€162,607 | -62.5% |
| Other amounts receivable | 41 | €96,610 | €200,112 | +€103,502 | +107% |
| Cash at bank and in hand | 54/58 | €54,033 | €26,442 | -€27,591 | -51.1% |
| Deferred charges and accrued income | 490/1 | €956 | €1,017 | +€60 | +6.3% |
| Total equity and liabilities | 10/49 | €415,642 | €443,584 | +€27,942 | +6.7% |
| Equity | 10/15 | €320,349 | €368,766 | +€48,417 | +15.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €299,944 | €348,361 | +€48,417 | +16.1% |
| Amounts payable | 17/49 | €95,293 | €74,818 | -€20,474 | -21.5% |
| Amounts payable within one year | 42/48 | €88,418 | €61,159 | -€27,260 | -30.8% |
| Trade debts | 44 | €34,175 | €7,226 | -€26,950 | -78.9% |
| Suppliers | 440/4 | €34,175 | €7,226 | -€26,950 | -78.9% |
| Taxes, remuneration and social security | 45 | €14,533 | €14,716 | +€183 | +1.3% |
| Taxes | 450/3 | €14,533 | €14,716 | +€183 | +1.3% |
| Other amounts payable | 47/48 | €39,710 | €39,217 | -€493 | -1.2% |
| Accrued charges and deferred income | 492/3 | €6,875 | €13,660 | +€6,785 | +98.7% |
| Non-recurring operating income | 76A | - | €508 | +€508 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,865 | €2,219 | +€354 | +19.0% |
| Other operating charges | 640/8 | €1,517 | €2,922 | +€1,405 | +92.6% |
| Non-recurring operating charges | 66A | €25,695 | €294 | -€25,401 | -98.9% |
| Gross operating margin | 9900 | €81,770 | €66,357 | -€15,414 | -18.9% |
| Operating profit (loss) | 9901 | €52,694 | €60,921 | +€8,228 | +15.6% |
| Financial income | 75/76B | €718 | €4,476 | +€3,758 | +523% |
| Recurring financial income | 75 | €718 | €4,476 | +€3,758 | +523% |
| Financial charges | 65/66B | €3,475 | €2,981 | -€495 | -14.2% |
| Recurring financial charges | 65 | €3,475 | €2,981 | -€495 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €49,936 | €62,417 | +€12,481 | +25.0% |
| Income taxes | 67/77 | €11,183 | €14,000 | +€2,817 | +25.2% |
| Profit (loss) for the period | 9904 | €38,753 | €48,417 | +€9,664 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,753 | €48,417 | +€9,664 | +24.9% |
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 21 October 2026 via checked.be.