West X: 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 X
Largest movements
- Cash +€150,638
up €150,638 (+411%), from €36,641 to €187,279
mainly Advances received (+€106,150) and Net result for the year (+€39,807)
- Advances received +€106,150
up €106,150 (+388%), from €27,350 to €133,500
- Reserves +€39,807
up €39,807 (+1,510%), from €2,635 to €42,442
- Tax, wage and social debts +€8,516
up €8,516 (+80.9%), from €10,531 to €19,047
of which Remuneration and social security: +€4,548
- Trade debts -€6,986
down €6,986 (-36.3%), from €19,270 to €12,283
- Gross operating margin +€28,892
up €28,892 (+44.2%), from €65,375 to €94,268
- Taxes +€7,129
up €7,129, from €0 to €7,129
- Staff costs -€3,730
down €3,730 (-8.8%), from €42,516 to €38,786
- Financial income -€2,645
down €2,645 (-99.6%), from €2,655 to €10
- Depreciation +€2,229
up €2,229 (+51.5%), from €4,326 to €6,555
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 | €145,949 | €294,518 | +€148,569 | +102% |
| Fixed assets | 21/28 | €41,630 | €37,859 | -€3,770 | -9.1% |
| Intangible fixed assets | 21 | €14,246 | €12,746 | -€1,500 | -10.5% |
| Tangible fixed assets | 22/27 | €27,384 | €25,114 | -€2,270 | -8.3% |
| Plant, machinery and equipment | 23 | €18,866 | €16,833 | -€2,033 | -10.8% |
| Furniture and vehicles | 24 | €8,517 | €8,280 | -€237 | -2.8% |
| Current assets | 29/58 | €104,320 | €256,658 | +€152,339 | +146% |
| Amounts receivable within one year | 40/41 | €67,679 | €69,380 | +€1,701 | +2.5% |
| Trade receivables | 40 | €67,631 | €61,461 | -€6,170 | -9.1% |
| Other amounts receivable | 41 | €48 | €7,918 | +€7,871 | +16,570% |
| Cash at bank and in hand | 54/58 | €36,641 | €187,279 | +€150,638 | +411% |
| Total equity and liabilities | 10/49 | €145,949 | €294,518 | +€148,569 | +102% |
| Equity | 10/15 | €7,635 | €47,442 | +€39,807 | +521% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,635 | €42,442 | +€39,807 | +1,510% |
| Distributable reserves | 133 | €2,635 | €42,442 | +€39,807 | +1,510% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €138,314 | €247,076 | +€108,762 | +78.6% |
| Amounts payable within one year | 42/48 | €138,314 | €245,676 | +€107,362 | +77.6% |
| Trade debts | 44 | €19,270 | €12,283 | -€6,986 | -36.3% |
| Suppliers | 440/4 | €19,270 | €12,283 | -€6,986 | -36.3% |
| Advances received on contracts in progress | 46 | €27,350 | €133,500 | +€106,150 | +388% |
| Taxes, remuneration and social security | 45 | €10,531 | €19,047 | +€8,516 | +80.9% |
| Taxes | 450/3 | €9,184 | €13,152 | +€3,968 | +43.2% |
| Remuneration and social security | 454/9 | €1,347 | €5,894 | +€4,548 | +338% |
| Other amounts payable | 47/48 | €81,163 | €80,846 | -€317 | -0.4% |
| Accrued charges and deferred income | 492/3 | - | €1,400 | +€1,400 | |
| Remuneration, social security and pensions | 62 | €42,516 | €38,786 | -€3,730 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,326 | €6,555 | +€2,229 | +51.5% |
| Other operating charges | 640/8 | €1,428 | €1,328 | -€100 | -7.0% |
| Gross operating margin | 9900 | €65,375 | €94,268 | +€28,892 | +44.2% |
| Operating profit (loss) | 9901 | €17,105 | €47,599 | +€30,494 | +178% |
| Financial income | 75/76B | €2,655 | €10 | -€2,645 | -99.6% |
| Recurring financial income | 75 | €2,655 | €10 | -€2,645 | -99.6% |
| Financial charges | 65/66B | €292 | €674 | +€382 | +131% |
| Recurring financial charges | 65 | €292 | €674 | +€382 | +131% |
| Profit (loss) for the period before taxes | 9903 | €19,468 | €46,936 | +€27,467 | +141% |
| Income taxes | 67/77 | €0 | €7,129 | +€7,129 | |
| Profit (loss) for the period | 9904 | €19,468 | €39,807 | +€20,338 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €19,468 | €39,807 | +€20,338 | +104% |
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.