WES: 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.
What changed
WES
NACE 82.100, Office administrative and support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€80,802
2024 · -€58,430+€139,232
Equity
€180,025
2024 · €102,358+€77,666
Cash
€185
2024 · €1,061-€876
Balance sheet total
€1.0m
2024 · €1.2m-€181,461
Largest movements
Assets
- Tangible fixed assets -€180,813
down €180,813 (-15.0%), from €1.2m to €1.0m
of which Land and buildings: -€179,075
Equity and liabilities
- Other debts -€209,115
down €209,115 (-41.5%), from €503,998 to €294,884
- Debts after one year -€89,857
down €89,857 (-18.9%), from €476,010 to €386,154
- Reserves +€89,540
up €89,540 (+202%), from €44,357 to €133,897
of which Tax-exempt reserves: +€89,540
- Provisions +€29,847
up €29,847 (+212%), from €14,053 to €43,900
Income statement
- Gross operating margin +€164,990
up €164,990 (+132%), from €125,125 to €290,116
- Financial charges -€7,076
down €7,076 (-29.4%), from €24,050 to €16,975
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.
Result 2024
-€58,430
Gross operating margin
+€164,990
Depreciation
+€2,608
Other operating charges
+€274
Financial income
-€0
Financial charges
+€7,076
Taxes
-€2,179
Deferred taxes and other
-€33,537
Result 2025
€80,802
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€41,263
Investment
+€43,979
Financing
-€86,118
Cash 2024
€1,061
From operations (derived)
+€41,263
Net result for the year
+€80,802
Depreciation
+€136,835
Smaller working-capital items
-€367
Provisions
+€29,847
Trade debts
+€4,094
Other debts
-€209,115
Accrued charges and deferred income
-€833
Investment (derived)
+€43,979
Investment in fixed assets (net)
+€43,979
Financing
-€86,118
Debts after one year
-€89,857
Current portion of long-term debt
+€2,247
Short-term financial debts
+€4,627
Contributions, distributions and other
-€3,135
Cash 2025
€185
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,207,909 | €1,026,448 | -€181,461 | -15.0% |
| Fixed assets | 21/28 | €1,201,572 | €1,020,759 | -€180,813 | -15.0% |
| Tangible fixed assets | 22/27 | €1,201,572 | €1,020,759 | -€180,813 | -15.0% |
| Land and buildings | 22 | €1,199,632 | €1,020,557 | -€179,075 | -14.9% |
| Plant, machinery and equipment | 23 | €300 | €202 | -€98 | -32.7% |
| Furniture and vehicles | 24 | €1,640 | €0 | -€1,640 | -100% |
| Current assets | 29/58 | €6,337 | €5,689 | -€648 | -10.2% |
| Amounts receivable within one year | 40/41 | €49 | €327 | +€278 | +568% |
| Trade receivables | 40 | €47 | €327 | +€280 | +603% |
| Other amounts receivable | 41 | €2 | €0 | -€2 | -100% |
| Cash at bank and in hand | 54/58 | €1,061 | €185 | -€876 | -82.6% |
| Deferred charges and accrued income | 490/1 | €5,227 | €5,178 | -€50 | -1.0% |
| Total equity and liabilities | 10/49 | €1,207,909 | €1,026,448 | -€181,461 | -15.0% |
| Equity | 10/15 | €102,358 | €180,025 | +€77,666 | +75.9% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Revaluation surpluses | 12 | €52,257 | €49,122 | -€3,135 | -6.0% |
| Reserves | 13 | €44,357 | €133,897 | +€89,540 | +202% |
| Non-distributable reserves | 130/1 | €2,197 | €0 | -€2,197 | -100% |
| Reserves not available under the articles | 1311 | €2,197 | €0 | -€2,197 | -100% |
| Tax-exempt reserves | 132 | €42,160 | €131,700 | +€89,540 | +212% |
| Distributable reserves | 133 | - | €2,197 | +€2,197 | |
| Profit (loss) carried forward | 14 | -€112,856 | -€121,594 | -€8,738 | -7.7% |
| Provisions and deferred taxes | 16 | €14,053 | €43,900 | +€29,847 | +212% |
| Deferred taxes | 168 | €14,053 | €43,900 | +€29,847 | +212% |
| Amounts payable | 17/49 | €1,091,497 | €802,523 | -€288,974 | -26.5% |
| Amounts payable after more than one year | 17 | €476,010 | €386,154 | -€89,857 | -18.9% |
| Financial debts | 170/4 | €476,010 | €386,154 | -€89,857 | -18.9% |
| Amounts payable within one year | 42/48 | €611,162 | €412,878 | -€198,285 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €93,477 | €95,724 | +€2,247 | +2.4% |
| Financial debts | 43 | €5,534 | €10,161 | +€4,627 | +83.6% |
| Credit institutions | 430/8 | €5,534 | €10,161 | +€4,627 | +83.6% |
| Trade debts | 44 | €6,727 | €10,821 | +€4,094 | +60.9% |
| Suppliers | 440/4 | €6,727 | €10,821 | +€4,094 | +60.9% |
| Taxes, remuneration and social security | 45 | €1,426 | €1,288 | -€138 | -9.7% |
| Taxes | 450/3 | €1,426 | €1,288 | -€138 | -9.7% |
| Other amounts payable | 47/48 | €503,998 | €294,884 | -€209,115 | -41.5% |
| Accrued charges and deferred income | 492/3 | €4,325 | €3,492 | -€833 | -19.3% |
| Non-recurring operating income | 76A | - | €143,053 | +€143,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,443 | €136,835 | -€2,608 | -1.9% |
| Other operating charges | 640/8 | €23,544 | €23,270 | -€274 | -1.2% |
| Gross operating margin | 9900 | €125,125 | €290,116 | +€164,990 | +132% |
| Operating profit (loss) | 9901 | -€37,861 | €130,011 | +€167,872 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €24,050 | €16,975 | -€7,076 | -29.4% |
| Recurring financial charges | 65 | €24,050 | €16,975 | -€7,076 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€61,912 | €113,037 | +€174,948 | |
| Transfer from deferred taxes | 780 | €3,691 | €3,799 | +€108 | +2.9% |
| Transfer to deferred taxes | 680 | - | €33,645 | +€33,645 | |
| Income taxes | 67/77 | €209 | €2,388 | +€2,179 | +1,044% |
| Profit (loss) for the period | 9904 | -€58,430 | €80,802 | +€139,232 | |
| Transfer from tax-exempt reserves | 789 | €11,072 | €11,397 | +€325 | +2.9% |
| Transfer to tax-exempt reserves | 689 | - | €100,936 | +€100,936 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,358 | -€8,738 | +€38,620 | +81.5% |
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 16 October 2026 via checked.be.