WESTCON: 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.
WESTCON
Largest movements
- Current investments -€26,548
down €26,548 (-18.6%), from €142,957 to €116,409
- Cash +€17,246
up €17,246 (+20.9%), from €82,698 to €99,944
mainly Net result for the year (+€40,679) and Current investments (+€26,548)
- Tangible fixed assets -€7,803
down €7,803 (-30.6%), from €25,471 to €17,667
of which Furniture and vehicles: -€7,430
- Deferred charges and accrued income +€4,329
up €4,329 (+166.3%), from €2,604 to €6,933
- Receivables within one year +€3,125
up €3,125 (+26.4%), from €11,820 to €14,945
of which Trade receivables: +€3,125
- Reserves -€9,500
down €9,500 (-6.5%), from €145,975 to €136,475
- Current portion of long-term debt -€8,586
down €8,586 (-100.0%), from €8,586 to €0
- Tax, wage and social debts +€4,699
up €4,699 (+26.7%), from €17,617 to €22,316
- Short-term financial debts +€4,215
new in 2025: €4,215
- Gross operating margin +€12,908
up €12,908 (+23.0%), from €56,007 to €68,915
- Financial income +€10,734
up €10,734 (+612.6%), from €1,752 to €12,486
- Taxes +€7,607
up €7,607 (+49.9%), from €15,232 to €22,839
- Depreciation -€1,208
down €1,208 (-8.4%), from €14,364 to €13,157
- Other operating charges +€793
up €793 (+22.2%), from €3,577 to €4,370
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 | €293,549 | €283,898 | -€9,651 | -3.3% |
| Fixed assets | 21/28 | €53,471 | €45,667 | -€7,803 | -14.6% |
| Tangible fixed assets | 22/27 | €25,471 | €17,667 | -€7,803 | -30.6% |
| Furniture and vehicles | 24 | €22,231 | €14,800 | -€7,430 | -33.4% |
| Other tangible fixed assets | 26 | €3,240 | €2,867 | -€373 | -11.5% |
| Financial fixed assets | 28 | €28,000 | €28,000 | = | 0.0% |
| Current assets | 29/58 | €240,078 | €238,231 | -€1,848 | -0.8% |
| Amounts receivable within one year | 40/41 | €11,820 | €14,945 | +€3,125 | +26.4% |
| Trade receivables | 40 | €9,375 | €12,500 | +€3,125 | +33.3% |
| Other amounts receivable | 41 | €2,445 | €2,445 | = | 0.0% |
| Current investments | 50/53 | €142,957 | €116,409 | -€26,548 | -18.6% |
| Cash at bank and in hand | 54/58 | €82,698 | €99,944 | +€17,246 | +20.9% |
| Deferred charges and accrued income | 490/1 | €2,604 | €6,933 | +€4,329 | +166.3% |
| Total equity and liabilities | 10/49 | €293,549 | €283,898 | -€9,651 | -3.3% |
| Equity | 10/15 | €264,885 | €255,564 | -€9,321 | -3.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €145,975 | €136,475 | -€9,500 | -6.5% |
| Distributable reserves | 133 | €145,975 | €136,475 | -€9,500 | -6.5% |
| Profit (loss) carried forward | 14 | €108,910 | €109,089 | +€179 | +0.2% |
| Amounts payable | 17/49 | €28,664 | €28,334 | -€330 | -1.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €28,185 | €28,245 | +€60 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €8,586 | €0 | -€8,586 | -100.0% |
| Financial debts | 43 | - | €4,215 | +€4,215 | |
| Credit institutions | 430/8 | - | €4,215 | +€4,215 | |
| Trade debts | 44 | €1,180 | €1,332 | +€152 | +12.9% |
| Suppliers | 440/4 | €1,180 | €1,332 | +€152 | +12.9% |
| Taxes, remuneration and social security | 45 | €17,617 | €22,316 | +€4,699 | +26.7% |
| Taxes | 450/3 | €17,617 | €22,316 | +€4,699 | +26.7% |
| Other amounts payable | 47/48 | €802 | €382 | -€419 | -52.3% |
| Accrued charges and deferred income | 492/3 | €479 | €89 | -€390 | -81.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,364 | €13,157 | -€1,208 | -8.4% |
| Other operating charges | 640/8 | €3,577 | €4,370 | +€793 | +22.2% |
| Gross operating margin | 9900 | €56,007 | €68,915 | +€12,908 | +23.0% |
| Operating profit (loss) | 9901 | €38,066 | €51,388 | +€13,323 | +35.0% |
| Financial income | 75/76B | €1,752 | €12,486 | +€10,734 | +612.6% |
| Recurring financial income | 75 | €1,752 | €12,486 | +€10,734 | +612.6% |
| Financial charges | 65/66B | €654 | €356 | -€297 | -45.5% |
| Recurring financial charges | 65 | €654 | €356 | -€297 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €39,164 | €63,518 | +€24,354 | +62.2% |
| Income taxes | 67/77 | €15,232 | €22,839 | +€7,607 | +49.9% |
| Profit (loss) for the period | 9904 | €23,932 | €40,679 | +€16,747 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,932 | €40,679 | +€16,747 | +70.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.