Wesley Van den Bulck: 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.
Wesley Van den Bulck
Largest movements
- Tangible fixed assets +€96,812
up €96,812 (+158%), from €61,305 to €158,117
of which Furniture and vehicles: +€77,359
- Cash +€17,998
up €17,998 (+1,089%), from €1,653 to €19,651
mainly Debts after one year (+€67,718) and Depreciation (+€33,453)
- Receivables within one year -€7,160
down €7,160 (-8.6%), from €83,325 to €76,165
of which Other amounts receivable: -€5,057
- Debts after one year +€67,718
up €67,718 (+104%), from €65,000 to €132,718
of which Financial debts: +€54,718
- Profit (loss) carried forward +€27,850
up €27,850 (+93.3%), from -€29,852 to -€2,002
- Other debts -€14,576
down €14,576 (-61.6%), from €23,657 to €9,081
- Provisions -€14,566
down €14,566 (-100%), from €14,566 to €0
- Current portion of long-term debt +€14,324
up €14,324, from €0 to €14,324
- Gross operating margin +€34,591
up €34,591 (+80.5%), from €42,966 to €77,557
- Depreciation +€31,592
up €31,592 (+1,698%), from €1,861 to €33,453
- Taxes +€5,381
up €5,381 (+279%), from €1,932 to €7,312
- Other operating charges +€3,003
up €3,003 (+441%), from €681 to €3,684
- Financial charges +€1,921
up €1,921 (+269%), from €715 to €2,636
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 | €147,027 | €253,932 | +€106,905 | +72.7% |
| Fixed assets | 21/28 | €61,305 | €158,117 | +€96,812 | +158% |
| Tangible fixed assets | 22/27 | €61,305 | €158,117 | +€96,812 | +158% |
| Plant, machinery and equipment | 23 | €20,445 | €39,898 | +€19,454 | +95.2% |
| Furniture and vehicles | 24 | €40,860 | €118,219 | +€77,359 | +189% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €85,723 | €95,815 | +€10,093 | +11.8% |
| Stocks and contracts in progress | 3 | €745 | €0 | -€745 | -100% |
| Contracts in progress | 37 | €745 | €0 | -€745 | -100% |
| Amounts receivable within one year | 40/41 | €83,325 | €76,165 | -€7,160 | -8.6% |
| Trade receivables | 40 | €70,793 | €68,690 | -€2,103 | -3.0% |
| Other amounts receivable | 41 | €12,531 | €7,475 | -€5,057 | -40.4% |
| Cash at bank and in hand | 54/58 | €1,653 | €19,651 | +€17,998 | +1,089% |
| Total equity and liabilities | 10/49 | €147,027 | €253,932 | +€106,905 | +72.7% |
| Equity | 10/15 | €32,409 | €60,259 | +€27,850 | +85.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €43,710 | €43,710 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €41,855 | €41,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,852 | -€2,002 | +€27,850 | +93.3% |
| Provisions and deferred taxes | 16 | €14,566 | €0 | -€14,566 | -100% |
| Provisions for liabilities and charges | 160/5 | €14,566 | €0 | -€14,566 | -100% |
| Other liabilities and charges | 164/5 | €14,566 | €0 | -€14,566 | -100% |
| Amounts payable | 17/49 | €100,053 | €193,673 | +€93,621 | +93.6% |
| Amounts payable after more than one year | 17 | €65,000 | €132,718 | +€67,718 | +104% |
| Financial debts | 170/4 | - | €54,718 | +€54,718 | |
| Other amounts payable | 178/9 | €65,000 | €78,000 | +€13,000 | +20.0% |
| Amounts payable within one year | 42/48 | €35,053 | €60,955 | +€25,903 | +73.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | €14,324 | +€14,324 | |
| Trade debts | 44 | €8,354 | €21,858 | +€13,505 | +162% |
| Suppliers | 440/4 | €8,354 | €21,858 | +€13,505 | +162% |
| Taxes, remuneration and social security | 45 | €3,042 | €15,691 | +€12,649 | +416% |
| Taxes | 450/3 | €3,042 | €11,191 | +€8,149 | +268% |
| Remuneration and social security | 454/9 | - | €4,500 | +€4,500 | |
| Other amounts payable | 47/48 | €23,657 | €9,081 | -€14,576 | -61.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,861 | €33,453 | +€31,592 | +1,698% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €681 | €3,684 | +€3,003 | +441% |
| Non-recurring operating charges | 66A | €14,566 | €2,622 | -€11,944 | -82.0% |
| Gross operating margin | 9900 | €42,966 | €77,557 | +€34,591 | +80.5% |
| Operating profit (loss) | 9901 | €25,858 | €37,798 | +€11,940 | +46.2% |
| Financial charges | 65/66B | €715 | €2,636 | +€1,921 | +269% |
| Recurring financial charges | 65 | €715 | €2,636 | +€1,921 | +269% |
| Profit (loss) for the period before taxes | 9903 | €25,144 | €35,163 | +€10,019 | +39.8% |
| Income taxes | 67/77 | €1,932 | €7,312 | +€5,381 | +279% |
| Profit (loss) for the period | 9904 | €23,212 | €27,850 | +€4,638 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,212 | €27,850 | +€4,638 | +20.0% |
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.