WESPA: 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.
WESPA
Largest movements
- Financial fixed assets +€90,000
up €90,000 (+688%), from €13,074 to €103,074
- Tangible fixed assets +€75,777
up €75,777 (+18.6%), from €408,076 to €483,853
of which Furniture and vehicles: +€62,214
- Cash -€16,624
down €16,624 (-32.9%), from €50,568 to €33,944
mainly Investment in fixed assets (net) (-€198,578) and Trade debts (-€10,956)
- Receivables within one year -€7,406
down €7,406 (-39.8%), from €18,612 to €11,206
of which Trade receivables: -€7,404
- Reserves +€60,750
up €60,750 (+46.7%), from €130,144 to €190,894
- Debts after one year +€40,202
up €40,202 (+16.3%), from €246,663 to €286,865
- Short-term financial debts +€40,000
new in 2025: €40,000
- Current portion of long-term debt +€14,264
up €14,264 (+44.5%), from €32,067 to €46,331
- Trade debts -€10,956
down €10,956 (-98.3%), from €11,149 to €193
- Taxes +€9,267
up €9,267 (+40.8%), from €22,719 to €31,986
- Gross operating margin +€8,205
up €8,205 (+6.0%), from €136,000 to €144,205
- Depreciation +€3,685
up €3,685 (+12.7%), from €29,116 to €32,802
- Financial charges -€2,956
down €2,956 (-18.0%), from €16,438 to €13,482
- Other operating charges +€2,102
up €2,102 (+59.5%), from €3,531 to €5,633
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 | €491,697 | €635,688 | +€143,991 | +29.3% |
| Fixed assets | 21/28 | €421,149 | €586,926 | +€165,777 | +39.4% |
| Tangible fixed assets | 22/27 | €408,076 | €483,853 | +€75,777 | +18.6% |
| Land and buildings | 22 | €406,387 | €418,510 | +€12,122 | +3.0% |
| Plant, machinery and equipment | 23 | €157 | €43 | -€114 | -72.6% |
| Furniture and vehicles | 24 | €1,531 | €63,745 | +€62,214 | +4,063% |
| Other tangible fixed assets | 26 | - | €1,554 | +€1,554 | |
| Financial fixed assets | 28 | €13,074 | €103,074 | +€90,000 | +688% |
| Current assets | 29/58 | €70,548 | €48,762 | -€21,786 | -30.9% |
| Amounts receivable within one year | 40/41 | €18,612 | €11,206 | -€7,406 | -39.8% |
| Trade receivables | 40 | €18,610 | €11,206 | -€7,404 | -39.8% |
| Other amounts receivable | 41 | €2 | €0 | -€2 | -100% |
| Cash at bank and in hand | 54/58 | €50,568 | €33,944 | -€16,624 | -32.9% |
| Deferred charges and accrued income | 490/1 | €1,368 | €3,612 | +€2,244 | +164% |
| Total equity and liabilities | 10/49 | €491,697 | €635,688 | +€143,991 | +29.3% |
| Equity | 10/15 | €132,644 | €193,394 | +€60,750 | +45.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €130,144 | €190,894 | +€60,750 | +46.7% |
| Distributable reserves | 133 | €130,144 | €190,894 | +€60,750 | +46.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €359,053 | €442,294 | +€83,241 | +23.2% |
| Amounts payable after more than one year | 17 | €246,663 | €286,865 | +€40,202 | +16.3% |
| Financial debts | 170/4 | €246,663 | €286,865 | +€40,202 | +16.3% |
| Amounts payable within one year | 42/48 | €109,956 | €154,316 | +€44,360 | +40.3% |
| Current portion of amounts payable after more than one year | 42 | €32,067 | €46,331 | +€14,264 | +44.5% |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Other loans | 439 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €11,149 | €193 | -€10,956 | -98.3% |
| Suppliers | 440/4 | €11,149 | €193 | -€10,956 | -98.3% |
| Taxes, remuneration and social security | 45 | €19,171 | €29,885 | +€10,714 | +55.9% |
| Taxes | 450/3 | €19,171 | €29,885 | +€10,714 | +55.9% |
| Other amounts payable | 47/48 | €47,569 | €37,908 | -€9,662 | -20.3% |
| Accrued charges and deferred income | 492/3 | €2,434 | €1,112 | -€1,321 | -54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,116 | €32,802 | +€3,685 | +12.7% |
| Other operating charges | 640/8 | €3,531 | €5,633 | +€2,102 | +59.5% |
| Gross operating margin | 9900 | €136,000 | €144,205 | +€8,205 | +6.0% |
| Operating profit (loss) | 9901 | €103,353 | €105,770 | +€2,418 | +2.3% |
| Financial income | 75/76B | €185 | €448 | +€263 | +142% |
| Recurring financial income | 75 | €185 | €448 | +€263 | +142% |
| Financial charges | 65/66B | €16,438 | €13,482 | -€2,956 | -18.0% |
| Recurring financial charges | 65 | €16,438 | €13,482 | -€2,956 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €87,099 | €92,736 | +€5,636 | +6.5% |
| Income taxes | 67/77 | €22,719 | €31,986 | +€9,267 | +40.8% |
| Profit (loss) for the period | 9904 | €64,380 | €60,750 | -€3,630 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,380 | €60,750 | -€3,630 | -5.6% |
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.