WEST BRUSSELS: 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.
WEST BRUSSELS
Largest movements
- Stocks and contracts -€55,154
no longer reported in 2025 (was €55,154)
- Tangible fixed assets -€45,819
down €45,819 (-3.7%), from €1.3m to €1.2m
of which Land and buildings: -€41,025
- Receivables within one year -€44,900
down €44,900 (-44.5%), from €100,994 to €56,094
of which Other amounts receivable: -€23,751
- Debts after one year -€94,578
down €94,578 (-8.6%), from €1.1m to €1.0m
- Accrued charges and deferred income -€51,537
down €51,537 (-99.2%), from €51,969 to €432
- Reserves +€22,648
up €22,648 (+33.8%), from €67,047 to €89,696
- Trade debts -€16,819
down €16,819 (-74.2%), from €22,679 to €5,859
- Gross operating margin -€70,536
down €70,536 (-41.5%), from €170,031 to €99,495
- Staff costs -€67,677
down €67,677 (-98.9%), from €68,431 to €753
- Other operating charges -€10,751
down €10,751 (-65.4%), from €16,443 to €5,692
- Financial charges +€9,207
up €9,207 (+72.1%), from €12,771 to €21,978
- Financial income +€4,377
up €4,377 (+3,758%), from €116 to €4,493
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 | €1,435,723 | €1,275,846 | -€159,877 | -11.1% |
| Formation expenses | 20 | €745 | €537 | -€208 | -27.9% |
| Fixed assets | 21/28 | €1,265,897 | €1,217,078 | -€48,819 | -3.9% |
| Intangible fixed assets | 21 | €12,000 | €9,000 | -€3,000 | -25.0% |
| Tangible fixed assets | 22/27 | €1,250,180 | €1,204,362 | -€45,819 | -3.7% |
| Land and buildings | 22 | €1,238,436 | €1,197,411 | -€41,025 | -3.3% |
| Plant, machinery and equipment | 23 | €2,808 | €1,738 | -€1,069 | -38.1% |
| Furniture and vehicles | 24 | €8,937 | €5,212 | -€3,725 | -41.7% |
| Financial fixed assets | 28 | €3,717 | €3,717 | = | 0.0% |
| Current assets | 29/58 | €169,081 | €58,231 | -€110,850 | -65.6% |
| Stocks and contracts in progress | 3 | €55,154 | - | -€55,154 | |
| Stocks | 30/36 | €55,154 | - | -€55,154 | |
| Amounts receivable within one year | 40/41 | €100,994 | €56,094 | -€44,900 | -44.5% |
| Trade receivables | 40 | €22,916 | €1,767 | -€21,149 | -92.3% |
| Other amounts receivable | 41 | €78,078 | €54,327 | -€23,751 | -30.4% |
| Cash at bank and in hand | 54/58 | €12,611 | - | -€12,611 | |
| Deferred charges and accrued income | 490/1 | €322 | €2,137 | +€1,815 | +564% |
| Total equity and liabilities | 10/49 | €1,435,723 | €1,275,846 | -€159,877 | -11.1% |
| Equity | 10/15 | €85,647 | €108,296 | +€22,648 | +26.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,047 | €89,696 | +€22,648 | +33.8% |
| Distributable reserves | 133 | €67,047 | €89,696 | +€22,648 | +33.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,350,076 | €1,167,551 | -€182,525 | -13.5% |
| Amounts payable after more than one year | 17 | €1,099,190 | €1,004,612 | -€94,578 | -8.6% |
| Financial debts | 170/4 | €1,099,190 | €1,004,612 | -€94,578 | -8.6% |
| Amounts payable within one year | 42/48 | €198,917 | €162,506 | -€36,411 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €89,661 | €80,683 | -€8,978 | -10.0% |
| Financial debts | 43 | - | €1,016 | +€1,016 | |
| Credit institutions | 430/8 | - | €1,016 | +€1,016 | |
| Trade debts | 44 | €22,679 | €5,859 | -€16,819 | -74.2% |
| Suppliers | 440/4 | €22,679 | €5,859 | -€16,819 | -74.2% |
| Taxes, remuneration and social security | 45 | €8,584 | - | -€8,584 | |
| Remuneration and social security | 454/9 | €8,584 | - | -€8,584 | |
| Other amounts payable | 47/48 | €77,994 | €74,949 | -€3,045 | -3.9% |
| Accrued charges and deferred income | 492/3 | €51,969 | €432 | -€51,537 | -99.2% |
| Remuneration, social security and pensions | 62 | €68,431 | €753 | -€67,677 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,671 | €49,027 | +€2,356 | +5.0% |
| Other operating charges | 640/8 | €16,443 | €5,692 | -€10,751 | -65.4% |
| Gross operating margin | 9900 | €170,031 | €99,495 | -€70,536 | -41.5% |
| Operating profit (loss) | 9901 | €38,487 | €44,023 | +€5,536 | +14.4% |
| Financial income | 75/76B | €116 | €4,493 | +€4,377 | +3,758% |
| Recurring financial income | 75 | €116 | €4,493 | +€4,377 | +3,758% |
| Financial charges | 65/66B | €12,771 | €21,978 | +€9,207 | +72.1% |
| Recurring financial charges | 65 | €12,771 | €21,978 | +€9,207 | +72.1% |
| Profit (loss) for the period before taxes | 9903 | €25,833 | €26,538 | +€706 | +2.7% |
| Income taxes | 67/77 | €2,348 | €3,890 | +€1,541 | +65.6% |
| Profit (loss) for the period | 9904 | €23,484 | €22,648 | -€836 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,484 | €22,648 | -€836 | -3.6% |
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 13 October 2026 via checked.be.