Wertelaers: 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.
Wertelaers
Largest movements
- Cash +€36,451
up €36,451 (+93.2%), from €39,107 to €75,559
mainly Net result for the year (+€36,213) and Depreciation (+€3,416)
- Tangible fixed assets -€2,350
down €2,350 (-16.7%), from €14,076 to €11,726
of which Furniture and vehicles: -€1,807
- Receivables within one year +€1,896
up €1,896, from €0 to €1,896
of which Other amounts receivable: +€1,896
- Profit (loss) carried forward +€36,213
up €36,213 (+66.2%), from €54,723 to €90,936
- Debts after one year -€2,594
down €2,594 (-56.4%), from €4,602 to €2,008
- Other debts +€1,128
up €1,128 (+32.2%), from €3,503 to €4,632
- Tax, wage and social debts +€1,050
up €1,050 (+158%), from €666 to €1,716
of which Taxes: +€1,050
- Financial income +€4,500
up €4,500 (+45.0%), from €10,000 to €14,500
- Taxes -€2,112
down €2,112 (-22.9%), from €9,216 to €7,104
- Depreciation +€1,348
up €1,348 (+65.2%), from €2,068 to €3,416
- Gross operating margin +€510
up €510 (+1.5%), from €33,529 to €34,038
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 | €69,129 | €104,945 | +€35,815 | +51.8% |
| Fixed assets | 21/28 | €29,076 | €26,726 | -€2,350 | -8.1% |
| Tangible fixed assets | 22/27 | €14,076 | €11,726 | -€2,350 | -16.7% |
| Plant, machinery and equipment | 23 | €4,670 | €4,127 | -€543 | -11.6% |
| Furniture and vehicles | 24 | €9,406 | €7,599 | -€1,807 | -19.2% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €40,054 | €78,219 | +€38,165 | +95.3% |
| Amounts receivable within one year | 40/41 | €0 | €1,896 | +€1,896 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €1,896 | +€1,896 | |
| Cash at bank and in hand | 54/58 | €39,107 | €75,559 | +€36,451 | +93.2% |
| Deferred charges and accrued income | 490/1 | €946 | €764 | -€182 | -19.3% |
| Total equity and liabilities | 10/49 | €69,129 | €104,945 | +€35,815 | +51.8% |
| Equity | 10/15 | €57,123 | €93,336 | +€36,213 | +63.4% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,723 | €90,936 | +€36,213 | +66.2% |
| Amounts payable | 17/49 | €12,006 | €11,608 | -€398 | -3.3% |
| Amounts payable after more than one year | 17 | €4,602 | €2,008 | -€2,594 | -56.4% |
| Financial debts | 170/4 | €4,602 | €2,008 | -€2,594 | -56.4% |
| Amounts payable within one year | 42/48 | €7,404 | €9,600 | +€2,196 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €2,501 | €2,594 | +€92 | +3.7% |
| Trade debts | 44 | €733 | €658 | -€75 | -10.2% |
| Suppliers | 440/4 | €733 | €658 | -€75 | -10.2% |
| Taxes, remuneration and social security | 45 | €666 | €1,716 | +€1,050 | +158% |
| Taxes | 450/3 | €666 | €1,716 | +€1,050 | +158% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,503 | €4,632 | +€1,128 | +32.2% |
| Turnover | 70 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,068 | €3,416 | +€1,348 | +65.2% |
| Other operating charges | 640/8 | €719 | €812 | +€93 | +12.9% |
| Gross operating margin | 9900 | €33,529 | €34,038 | +€510 | +1.5% |
| Operating profit (loss) | 9901 | €30,742 | €29,811 | -€931 | -3.0% |
| Financial income | 75/76B | €10,000 | €14,500 | +€4,500 | +45.0% |
| Recurring financial income | 75 | €10,000 | €14,500 | +€4,500 | +45.0% |
| Financial charges | 65/66B | €1,132 | €994 | -€138 | -12.2% |
| Recurring financial charges | 65 | €1,132 | €994 | -€138 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €39,610 | €43,317 | +€3,707 | +9.4% |
| Income taxes | 67/77 | €9,216 | €7,104 | -€2,112 | -22.9% |
| Profit (loss) for the period | 9904 | €30,394 | €36,213 | +€5,819 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,394 | €36,213 | +€5,819 | +19.1% |
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.