WEST - POOL: 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 - POOL
Largest movements
- Receivables within one year -€183,237
down €183,237 (-22.5%), from €814,163 to €630,926
of which Trade receivables: -€334,371
- Deferred charges and accrued income +€137,157
up €137,157 (+2804.2%), from €4,891 to €142,049
- Cash -€38,044
down €38,044 (-11.9%), from €320,372 to €282,328
mainly Other debts (-€305,730) and Deferred charges and accrued income (-€137,157)
- Short-term financial debts +€325,000
new in 2025: €325,000
- Other debts -€305,730
down €305,730 (-98.3%), from €311,148 to €5,418
- Trade debts +€106,810
up €106,810 (+121.2%), from €88,129 to €194,939
- Reserves -€93,237
down €93,237 (-11.2%), from €832,643 to €739,406
of which Distributable reserves: -€93,237
- Accrued charges and deferred income -€85,960
down €85,960 (-46.6%), from €184,380 to €98,419
- Gross operating margin -€382,886
down €382,886 (-72.1%), from €530,852 to €147,967
- Other operating charges +€26,918
up €26,918 (+201.2%), from €13,380 to €40,298
- Financial charges +€24,285
up €24,285 (+346.9%), from €7,001 to €31,286
- Staff costs -€23,806
down €23,806 (-12.5%), from €190,901 to €167,095
- Depreciation -€11,598
down €11,598 (-55.5%), from €20,901 to €9,303
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.
Cash bridge derived
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 | €1,487,702 | €1,396,362 | -€91,339 | -6.1% |
| Fixed assets | 21/28 | €64,628 | €62,283 | -€2,345 | -3.6% |
| Tangible fixed assets | 22/27 | €64,628 | €62,283 | -€2,345 | -3.6% |
| Land and buildings | 22 | €28,235 | €0 | -€28,235 | -100.0% |
| Plant, machinery and equipment | 23 | - | €4,888 | +€4,888 | |
| Furniture and vehicles | 24 | €36,393 | €32,416 | -€3,977 | -10.9% |
| Other tangible fixed assets | 26 | - | €24,979 | +€24,979 | |
| Current assets | 29/58 | €1,423,074 | €1,334,080 | -€88,994 | -6.3% |
| Stocks and contracts in progress | 3 | €283,648 | €278,776 | -€4,871 | -1.7% |
| Stocks | 30/36 | €229,325 | €175,260 | -€54,065 | -23.6% |
| Contracts in progress | 37 | €54,322 | €103,516 | +€49,194 | +90.6% |
| Amounts receivable within one year | 40/41 | €814,163 | €630,926 | -€183,237 | -22.5% |
| Trade receivables | 40 | €542,387 | €208,016 | -€334,371 | -61.6% |
| Other amounts receivable | 41 | €271,776 | €422,910 | +€151,134 | +55.6% |
| Cash at bank and in hand | 54/58 | €320,372 | €282,328 | -€38,044 | -11.9% |
| Deferred charges and accrued income | 490/1 | €4,891 | €142,049 | +€137,157 | +2804.2% |
| Total equity and liabilities | 10/49 | €1,487,702 | €1,396,362 | -€91,339 | -6.1% |
| Equity | 10/15 | €852,643 | €759,406 | -€93,237 | -10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €832,643 | €739,406 | -€93,237 | -11.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €813,893 | €720,656 | -€93,237 | -11.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €635,058 | €636,956 | +€1,898 | +0.3% |
| Amounts payable within one year | 42/48 | €450,679 | €538,537 | +€87,858 | +19.5% |
| Financial debts | 43 | - | €325,000 | +€325,000 | |
| Credit institutions | 430/8 | - | €325,000 | +€325,000 | |
| Trade debts | 44 | €88,129 | €194,939 | +€106,810 | +121.2% |
| Suppliers | 440/4 | €88,129 | €194,939 | +€106,810 | +121.2% |
| Taxes, remuneration and social security | 45 | €51,402 | €13,179 | -€38,222 | -74.4% |
| Taxes | 450/3 | €30,131 | €167 | -€29,963 | -99.4% |
| Remuneration and social security | 454/9 | €21,271 | €13,012 | -€8,259 | -38.8% |
| Other amounts payable | 47/48 | €311,148 | €5,418 | -€305,730 | -98.3% |
| Accrued charges and deferred income | 492/3 | €184,380 | €98,419 | -€85,960 | -46.6% |
| Remuneration, social security and pensions | 62 | €190,901 | €167,095 | -€23,806 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,901 | €9,303 | -€11,598 | -55.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,624 | €0 | -€6,624 | -100.0% |
| Other operating charges | 640/8 | €13,380 | €40,298 | +€26,918 | +201.2% |
| Non-recurring operating charges | 66A | - | €28,980 | +€28,980 | |
| Gross operating margin | 9900 | €530,852 | €147,967 | -€382,886 | -72.1% |
| Operating profit (loss) | 9901 | €299,046 | -€97,709 | -€396,756 | |
| Financial income | 75/76B | €45,103 | €35,759 | -€9,345 | -20.7% |
| Recurring financial income | 75 | €45,103 | €35,759 | -€9,345 | -20.7% |
| Financial charges | 65/66B | €7,001 | €31,286 | +€24,285 | +346.9% |
| Recurring financial charges | 65 | €7,001 | €31,286 | +€24,285 | +346.9% |
| Profit (loss) for the period before taxes | 9903 | €337,149 | -€93,237 | -€430,386 | |
| Income taxes | 67/77 | €9,320 | €0 | -€9,320 | -100.0% |
| Profit (loss) for the period | 9904 | €327,829 | -€93,237 | -€421,066 | |
| Profit (loss) for the period to be appropriated | 9905 | €327,829 | -€93,237 | -€421,066 |
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 11 October 2026 via checked.be.