West Port: 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.
What changed
West Port
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€279,573
2024 · -€257,932-€21,641
Equity
€5.8m
2024 · €6.1m-€279,573
Cash
€113,501
2024 · €16,388+€97,113
Balance sheet total
€34.7m
2024 · €22.8m+€11.9m
Largest movements
Assets
- Tangible fixed assets +€11.4m
up €11.4m (+57.3%), from €19.9m to €31.3m
of which Land and buildings: +€15.9m
- Receivables within one year +€373,684
up €373,684 (+47.2%), from €792,326 to €1.2m
of which Trade receivables: +€347,709
Equity and liabilities
- Debts after one year +€9.3m
up €9.3m (+60.8%), from €15.3m to €24.5m
- Other debts +€2.2m
up €2.2m (+3,209%), from €67,627 to €2.2m
- Current portion of long-term debt +€588,540
up €588,540 (+146%), from €403,532 to €992,072
Income statement
- Turnover +€1.2m
new in 2025: €1.2m
- Gross operating margin -€917,259
no longer reported in 2025 (was €917,259)
- Services and other goods +€902,633
new in 2025: €902,633
- Other operating income +€765,257
new in 2025: €765,257
- Financial charges +€356,023
up €356,023 (+104%), from €341,773 to €697,796
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.
Result 2024
-€257,932
Turnover
+€1.2m
Other operating income
+€765,257
Services and other goods
-€902,633
Depreciation
-€55,620
Other operating charges
+€43,088
Other operating items
-€917,259
Financial income
+€196,339
Financial charges
-€356,023
Result 2025
-€279,573
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.5m
Investment
-€12.3m
Financing
+€9.9m
Cash 2024
€16,388
From operations (derived)
+€2.5m
Net result for the year
-€279,573
Depreciation
+€840,440
Receivables within one year
-€373,684
Deferred charges and accrued income
+€1,481
Trade debts
-€178,175
Tax, wage and social debts
+€130,984
Other debts
+€2.2m
Accrued charges and deferred income
+€179,031
Investment (derived)
-€12.3m
Investment in fixed assets (net)
-€12.3m
Financing
+€9.9m
Debts after one year
+€9.3m
Current portion of long-term debt
+€588,540
Cash 2025
€113,501
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,780,046 | €34,665,971 | +€11.9m | +52.2% |
| Fixed assets | 21/28 | €21,966,858 | €33,383,467 | +€11.4m | +52.0% |
| Tangible fixed assets | 22/27 | €19,906,421 | €31,322,535 | +€11.4m | +57.3% |
| Land and buildings | 22 | €15,420,891 | €31,275,776 | +€15.9m | +103% |
| Plant, machinery and equipment | 23 | €11,571 | €6,360 | -€5,211 | -45.0% |
| Assets under construction and advance payments | 27 | €4,473,960 | €40,400 | -€4.4m | -99.1% |
| Financial fixed assets | 28 | €2,060,437 | €2,060,932 | +€495 | 0.0% |
| Affiliated companies | 280/1 | - | €2,059,987 | +€2.1m | |
| Participating interests | 280 | - | €2,059,987 | +€2.1m | |
| Other financial fixed assets | 284/8 | - | €945 | +€945 | |
| Amounts receivable and cash guarantees | 285/8 | - | €945 | +€945 | |
| Current assets | 29/58 | €813,188 | €1,282,504 | +€469,316 | +57.7% |
| Amounts receivable within one year | 40/41 | €792,326 | €1,166,010 | +€373,684 | +47.2% |
| Trade receivables | 40 | €792,308 | €1,140,017 | +€347,709 | +43.9% |
| Other amounts receivable | 41 | €18 | €25,993 | +€25,975 | +143,586% |
| Cash at bank and in hand | 54/58 | €16,388 | €113,501 | +€97,113 | +593% |
| Deferred charges and accrued income | 490/1 | €4,474 | €2,993 | -€1,481 | -33.1% |
| Total equity and liabilities | 10/49 | €22,780,046 | €34,665,971 | +€11.9m | +52.2% |
| Equity | 10/15 | €6,100,889 | €5,821,317 | -€279,573 | -4.6% |
| Contributions | 10/11 | €6,400,000 | €6,400,000 | = | 0.0% |
| Capital | 10 | €6,400,000 | €6,400,000 | = | 0.0% |
| Issued capital | 100 | €6,400,000 | €6,400,000 | = | 0.0% |
| Reserves | 13 | €42,100 | €42,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | €42,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€341,211 | -€620,783 | -€279,573 | -81.9% |
| Amounts payable | 17/49 | €16,679,157 | €28,844,654 | +€12.2m | +72.9% |
| Amounts payable after more than one year | 17 | €15,260,406 | €24,535,182 | +€9.3m | +60.8% |
| Financial debts | 170/4 | €15,260,406 | €24,535,182 | +€9.3m | +60.8% |
| Credit institutions | 173 | - | €24,535,182 | +€24.5m | |
| Amounts payable within one year | 42/48 | €1,004,957 | €3,716,648 | +€2.7m | +270% |
| Current portion of amounts payable after more than one year | 42 | €403,532 | €992,072 | +€588,540 | +146% |
| Trade debts | 44 | €517,496 | €339,321 | -€178,175 | -34.4% |
| Suppliers | 440/4 | €517,496 | €339,321 | -€178,175 | -34.4% |
| Taxes, remuneration and social security | 45 | €16,302 | €147,286 | +€130,984 | +803% |
| Taxes | 450/3 | €16,302 | €147,286 | +€130,984 | +803% |
| Other amounts payable | 47/48 | €67,627 | €2,237,968 | +€2.2m | +3,209% |
| Accrued charges and deferred income | 492/3 | €413,793 | €592,824 | +€179,031 | +43.3% |
| Operating income | 70/76A | - | €1,970,468 | +€2.0m | |
| Turnover | 70 | - | €1,205,211 | +€1.2m | |
| Other operating income | 74 | - | €765,257 | +€765,257 | |
| Non-recurring operating income | 76A | €12,262 | - | -€12,262 | |
| Operating charges | 60/66A | - | €1,752,969 | +€1.8m | |
| Services and other goods | 61 | - | €902,633 | +€902,633 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €784,820 | €840,440 | +€55,620 | +7.1% |
| Other operating charges | 640/8 | €52,984 | €9,896 | -€43,088 | -81.3% |
| Gross operating margin | 9900 | €917,259 | - | -€917,259 | |
| Operating profit (loss) | 9901 | €79,455 | €217,499 | +€138,044 | +174% |
| Financial income | 75/76B | €4,386 | €200,725 | +€196,339 | +4,477% |
| Recurring financial income | 75 | €4,386 | €200,725 | +€196,339 | +4,477% |
| Income from financial fixed assets | 750 | - | €200,000 | +€200,000 | |
| Other financial income | 752/9 | - | €725 | +€725 | |
| Financial charges | 65/66B | €341,773 | €697,796 | +€356,023 | +104% |
| Recurring financial charges | 65 | €341,773 | €697,796 | +€356,023 | +104% |
| Debt charges | 650 | - | €673,728 | +€673,728 | |
| Other financial charges | 652/9 | - | €24,069 | +€24,069 | |
| Profit (loss) for the period before taxes | 9903 | -€257,932 | -€279,573 | -€21,641 | -8.4% |
| Profit (loss) for the period | 9904 | -€257,932 | -€279,573 | -€21,641 | -8.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€257,932 | -€279,573 | -€21,641 | -8.4% |
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 19 October 2026 via checked.be.