WEST - PAINTS: what changed
WEST - PAINTS
Largest movements
- Receivables within one year +€52,273
up €52,273 (+18.6%), from €281,048 to €333,321
of which Other amounts receivable: +€46,128
- Tangible fixed assets -€31,737
down €31,737 (-19.8%), from €160,394 to €128,657
of which Land and buildings: -€16,280
- Stocks and contracts -€14,097
down €14,097 (-13.3%), from €106,282 to €92,185
- Cash -€6,376
down €6,376 (-28.6%), from €22,307 to €15,932
mainly Receivables within one year (-€52,273) and Net result for the year (-€40,478)
- Trade debts +€59,126
up €59,126 (+48.5%), from €121,859 to €180,985
- Profit (loss) carried forward -€40,478
down €40,478 (-25.6%), from -€158,247 to -€198,725
- Other debts -€15,742
down €15,742 (-16.8%), from €93,562 to €77,821
- Gross operating margin -€13,939
down €13,939, from €6,514 to -€7,425
- Depreciation -€7,940
down €7,940 (-19.5%), from €40,813 to €32,873
- Financial income +€1,217
up €1,217 (+15.9%), from €7,636 to €8,852
- Financial charges -€618
down €618 (-32.1%), from €1,926 to €1,308
- Write-downs -€462
down €462 (-100%), from €462 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €573,938 | €574,747 | +€809 | +0.1% |
| Fixed assets | 21/28 | €161,386 | €129,649 | -€31,737 | -19.7% |
| Tangible fixed assets | 22/27 | €160,394 | €128,657 | -€31,737 | -19.8% |
| Land and buildings | 22 | €135,887 | €119,607 | -€16,280 | -12.0% |
| Plant, machinery and equipment | 23 | €5,609 | €2,688 | -€2,920 | -52.1% |
| Furniture and vehicles | 24 | €18,898 | €6,362 | -€12,536 | -66.3% |
| Financial fixed assets | 28 | €992 | €992 | = | 0.0% |
| Current assets | 29/58 | €412,553 | €445,099 | +€32,546 | +7.9% |
| Stocks and contracts in progress | 3 | €106,282 | €92,185 | -€14,097 | -13.3% |
| Stocks | 30/36 | €106,282 | €92,185 | -€14,097 | -13.3% |
| Amounts receivable within one year | 40/41 | €281,048 | €333,321 | +€52,273 | +18.6% |
| Trade receivables | 40 | €20,324 | €26,469 | +€6,145 | +30.2% |
| Other amounts receivable | 41 | €260,724 | €306,851 | +€46,128 | +17.7% |
| Cash at bank and in hand | 54/58 | €22,307 | €15,932 | -€6,376 | -28.6% |
| Deferred charges and accrued income | 490/1 | €2,916 | €3,662 | +€746 | +25.6% |
| Total equity and liabilities | 10/49 | €573,938 | €574,747 | +€809 | +0.1% |
| Equity | 10/15 | €353,594 | €313,116 | -€40,478 | -11.4% |
| Contributions | 10/11 | €481,644 | €481,644 | = | 0.0% |
| Capital | 10 | €481,644 | €481,644 | = | 0.0% |
| Issued capital | 100 | €481,644 | €481,644 | = | 0.0% |
| Reserves | 13 | €30,197 | €30,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,938 | €15,938 | = | 0.0% |
| Legal reserve | 130 | €15,938 | €15,938 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,259 | €14,259 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€158,247 | -€198,725 | -€40,478 | -25.6% |
| Amounts payable | 17/49 | €220,345 | €261,631 | +€41,287 | +18.7% |
| Amounts payable within one year | 42/48 | €216,090 | €261,631 | +€45,541 | +21.1% |
| Trade debts | 44 | €121,859 | €180,985 | +€59,126 | +48.5% |
| Suppliers | 440/4 | €121,859 | €180,985 | +€59,126 | +48.5% |
| Taxes, remuneration and social security | 45 | €669 | €2,826 | +€2,158 | +323% |
| Taxes | 450/3 | €669 | €2,826 | +€2,158 | +323% |
| Other amounts payable | 47/48 | €93,562 | €77,821 | -€15,742 | -16.8% |
| Accrued charges and deferred income | 492/3 | €4,255 | €0 | -€4,255 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,813 | €32,873 | -€7,940 | -19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €462 | €0 | -€462 | -100% |
| Other operating charges | 640/8 | €7,634 | €7,571 | -€63 | -0.8% |
| Gross operating margin | 9900 | €6,514 | -€7,425 | -€13,939 | |
| Operating profit (loss) | 9901 | -€42,396 | -€47,870 | -€5,474 | -12.9% |
| Financial income | 75/76B | €7,636 | €8,852 | +€1,217 | +15.9% |
| Recurring financial income | 75 | €7,636 | €8,852 | +€1,217 | +15.9% |
| Financial charges | 65/66B | €1,926 | €1,308 | -€618 | -32.1% |
| Recurring financial charges | 65 | €1,926 | €1,308 | -€618 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,687 | -€40,326 | -€3,639 | -9.9% |
| Income taxes | 67/77 | - | €152 | +€152 | |
| Profit (loss) for the period | 9904 | -€36,687 | -€40,478 | -€3,791 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,687 | -€40,478 | -€3,791 | -10.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.