WESTCO: what changed
Two fiscal 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.
WESTCO
Largest movements
- Tangible fixed assets -€1.7m
down €1.7m (-74.4%), from €2.3m to €595,186
of which Land and buildings: -€1.7m
- Cash +€34,012
up €34,012 (+27.9%), from €121,790 to €155,802
mainly Investment in fixed assets (net) (+€1.6m) and Depreciation (+€116,556)
- Profit (loss) carried forward -€831,796
down €831,796 (-73.9%), from €1.1m to €294,402
- Reserves -€530,021
down €530,021 (-77.0%), from €688,705 to €158,684
of which Tax-exempt reserves: -€468,992
- Contributions -€210,179
down €210,179 (-77.0%), from €273,104 to €62,926
- Other debts -€101,075
down €101,075 (-70.7%), from €142,985 to €41,910
- Gross operating margin +€29,189
up €29,189 (+17.8%), from €163,718 to €192,907
- Depreciation -€17,023
down €17,023 (-12.7%), from €133,579 to €116,556
- Financial charges -€9,994
down €9,994 (-88.2%), from €11,328 to €1,334
- Other operating charges -€3,086
down €3,086 (-18.4%), from €16,800 to €13,713
- Financial income -€2,785
down €2,785 (-94.6%), from €2,944 to €158
of which Financial income: -€2,785
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 | €2,459,053 | €767,806 | -€1.7m | -68.8% |
| Fixed assets | 21/28 | €2,325,305 | €595,186 | -€1.7m | -74.4% |
| Tangible fixed assets | 22/27 | €2,325,305 | €595,186 | -€1.7m | -74.4% |
| Land and buildings | 22 | €2,240,759 | €582,177 | -€1.7m | -74.0% |
| Plant, machinery and equipment | 23 | €1,936 | €1,546 | -€390 | -20.1% |
| Furniture and vehicles | 24 | €82,610 | €11,463 | -€71,147 | -86.1% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €133,748 | €172,620 | +€38,872 | +29.1% |
| Amounts receivable within one year | 40/41 | €6,051 | €4,538 | -€1,514 | -25.0% |
| Trade receivables | 40 | €1,755 | €4,538 | +€2,783 | +158.6% |
| Other amounts receivable | 41 | €4,296 | €0 | -€4,296 | -100.0% |
| Cash at bank and in hand | 54/58 | €121,790 | €155,802 | +€34,012 | +27.9% |
| Deferred charges and accrued income | 490/1 | €5,907 | €12,280 | +€6,373 | +107.9% |
| Total equity and liabilities | 10/49 | €2,459,053 | €767,806 | -€1.7m | -68.8% |
| Equity | 10/15 | €2,088,006 | €516,011 | -€1.6m | -75.3% |
| Contributions | 10/11 | €273,104 | €62,926 | -€210,179 | -77.0% |
| Capital | 10 | €273,104 | €62,926 | -€210,179 | -77.0% |
| Issued capital | 100 | €273,104 | €62,926 | -€210,179 | -77.0% |
| Reserves | 13 | €688,705 | €158,684 | -€530,021 | -77.0% |
| Non-distributable reserves | 130/1 | €52,310 | €12,053 | -€40,258 | -77.0% |
| Legal reserve | 130 | €52,310 | €12,053 | -€40,258 | -77.0% |
| Tax-exempt reserves | 132 | €609,404 | €140,412 | -€468,992 | -77.0% |
| Distributable reserves | 133 | €26,991 | €6,219 | -€20,772 | -77.0% |
| Profit (loss) carried forward | 14 | €1,126,197 | €294,402 | -€831,796 | -73.9% |
| Provisions and deferred taxes | 16 | €203,135 | €203,135 | = | 0.0% |
| Deferred taxes | 168 | €203,135 | €203,135 | = | 0.0% |
| Amounts payable | 17/49 | €167,912 | €48,661 | -€119,251 | -71.0% |
| Amounts payable after more than one year | 17 | €2,450 | €3,038 | +€588 | +24.0% |
| Other amounts payable | 178/9 | €2,450 | €3,038 | +€588 | +24.0% |
| Amounts payable within one year | 42/48 | €158,837 | €45,623 | -€113,214 | -71.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €14,039 | €1,196 | -€12,843 | -91.5% |
| Suppliers | 440/4 | €14,039 | €1,196 | -€12,843 | -91.5% |
| Taxes, remuneration and social security | 45 | €1,812 | €2,517 | +€704 | +38.9% |
| Taxes | 450/3 | €1,812 | €2,517 | +€704 | +38.9% |
| Other amounts payable | 47/48 | €142,985 | €41,910 | -€101,075 | -70.7% |
| Accrued charges and deferred income | 492/3 | €6,625 | - | -€6,625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,579 | €116,556 | -€17,023 | -12.7% |
| Other operating charges | 640/8 | €16,800 | €13,713 | -€3,086 | -18.4% |
| Gross operating margin | 9900 | €163,718 | €192,907 | +€29,189 | +17.8% |
| Operating profit (loss) | 9901 | €13,339 | €62,637 | +€49,298 | +369.6% |
| Financial income | 75/76B | €2,944 | €158 | -€2,785 | -94.6% |
| Recurring financial income | 75 | €2,944 | €158 | -€2,785 | -94.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €11,328 | €1,334 | -€9,994 | -88.2% |
| Recurring financial charges | 65 | €11,328 | €1,334 | -€9,994 | -88.2% |
| Profit (loss) for the period before taxes | 9903 | €4,955 | €61,461 | +€56,507 | +1140.5% |
| Transfer from deferred taxes | 780 | €8,962 | - | -€8,962 | |
| Income taxes | 67/77 | €13,812 | €15,000 | +€1,188 | +8.6% |
| Profit (loss) for the period | 9904 | €104 | €46,461 | +€46,357 | +44450.1% |
| Transfer from tax-exempt reserves | 789 | €26,886 | - | -€26,886 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,991 | €46,461 | +€19,471 | +72.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.