WESTCOFAR: 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.
WESTCOFAR
Largest movements
- Receivables within one year +€63,800
up €63,800 (+31.1%), from €205,187 to €268,987
of which Trade receivables: +€58,167
- Tangible fixed assets -€44,460
down €44,460 (-2.8%), from €1.6m to €1.5m
of which Land and buildings: -€28,908
- Cash -€22,488
down €22,488 (-67.0%), from €33,559 to €11,071
mainly Debts after one year (-€93,065) and Receivables within one year (-€63,800)
- Debts after one year -€93,065
down €93,065 (-8.8%), from €1.1m to €961,123
- Other debts +€72,514
up €72,514 (+15.4%), from €469,367 to €541,881
- Financial income -€8,874
down €8,874 (-58.7%), from €15,122 to €6,248
of which Non-recurring financial income: -€9,820
- Financial charges -€4,926
down €4,926 (-12.1%), from €40,580 to €35,655
- Gross operating margin +€3,468
up €3,468 (+2.9%), from €120,062 to €123,530
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,168,971 | €2,165,824 | -€3,147 | -0.1% |
| Fixed assets | 21/28 | €1,780,226 | €1,735,766 | -€44,460 | -2.5% |
| Tangible fixed assets | 22/27 | €1,581,688 | €1,537,228 | -€44,460 | -2.8% |
| Land and buildings | 22 | €1,477,453 | €1,448,545 | -€28,908 | -2.0% |
| Plant, machinery and equipment | 23 | €12,797 | €11,496 | -€1,301 | -10.2% |
| Furniture and vehicles | 24 | €91,438 | €77,188 | -€14,250 | -15.6% |
| Financial fixed assets | 28 | €198,538 | €198,538 | = | 0.0% |
| Current assets | 29/58 | €388,745 | €430,058 | +€41,312 | +10.6% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €205,187 | €268,987 | +€63,800 | +31.1% |
| Trade receivables | 40 | €145,601 | €203,769 | +€58,167 | +39.9% |
| Other amounts receivable | 41 | €59,585 | €65,218 | +€5,633 | +9.5% |
| Cash at bank and in hand | 54/58 | €33,559 | €11,071 | -€22,488 | -67.0% |
| Total equity and liabilities | 10/49 | €2,168,971 | €2,165,824 | -€3,147 | -0.1% |
| Equity | 10/15 | €526,417 | €534,012 | +€7,596 | +1.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €464,417 | €472,012 | +€7,596 | +1.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €458,217 | €465,812 | +€7,596 | +1.7% |
| Amounts payable | 17/49 | €1,642,555 | €1,631,811 | -€10,743 | -0.7% |
| Amounts payable after more than one year | 17 | €1,054,188 | €961,123 | -€93,065 | -8.8% |
| Financial debts | 170/4 | €1,054,188 | €961,123 | -€93,065 | -8.8% |
| Amounts payable within one year | 42/48 | €588,366 | €670,123 | +€81,757 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €91,772 | €93,065 | +€1,293 | +1.4% |
| Trade debts | 44 | €21,099 | €21,780 | +€680 | +3.2% |
| Suppliers | 440/4 | €21,099 | €21,780 | +€680 | +3.2% |
| Advances received on contracts in progress | 46 | - | €12,000 | +€12,000 | |
| Taxes, remuneration and social security | 45 | €6,129 | €1,398 | -€4,731 | -77.2% |
| Taxes | 450/3 | €6,129 | €1,398 | -€4,731 | -77.2% |
| Other amounts payable | 47/48 | €469,367 | €541,881 | +€72,514 | +15.4% |
| Accrued charges and deferred income | 492/3 | - | €565 | +€565 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,375 | €44,460 | +€1,085 | +2.5% |
| Other operating charges | 640/8 | €8,611 | €9,593 | +€981 | +11.4% |
| Gross operating margin | 9900 | €120,062 | €123,530 | +€3,468 | +2.9% |
| Operating profit (loss) | 9901 | €68,075 | €69,477 | +€1,402 | +2.1% |
| Financial income | 75/76B | €15,122 | €6,248 | -€8,874 | -58.7% |
| Recurring financial income | 75 | €5,303 | €6,248 | +€945 | +17.8% |
| Non-recurring financial income | 76B | €9,820 | - | -€9,820 | |
| Financial charges | 65/66B | €40,580 | €35,655 | -€4,926 | -12.1% |
| Recurring financial charges | 65 | €40,580 | €35,655 | -€4,926 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €42,617 | €40,071 | -€2,546 | -6.0% |
| Income taxes | 67/77 | €13,614 | €12,750 | -€864 | -6.3% |
| Profit (loss) for the period | 9904 | €29,004 | €27,321 | -€1,683 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,004 | €27,321 | -€1,683 | -5.8% |
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 21 October 2026 via checked.be.