Westerlinck – Van Driessche: 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.
Westerlinck – Van Driessche
Largest movements
- Receivables within one year +€80,348
up €80,348 (+12,694%), from €633 to €80,981
of which Trade receivables: +€69,888
- Intangible fixed assets -€17,000
down €17,000 (-44.4%), from €38,250 to €21,250
- Tangible fixed assets +€13,407
up €13,407 (+98.5%), from €13,615 to €27,022
of which Furniture and vehicles: +€17,636
- Cash -€8,805
down €8,805 (-4.5%), from €194,870 to €186,064
mainly Receivables within one year (-€80,348) and Investment in fixed assets (net) (-€20,706)
- Stocks and contracts +€3,946
up €3,946 (+6.0%), from €65,682 to €69,629
- Reserves +€55,165
up €55,165 (+79.2%), from €69,686 to €124,851
- Tax, wage and social debts +€40,246
up €40,246 (+50.7%), from €79,367 to €119,613
of which Taxes: +€45,988
- Debts after one year -€10,335
down €10,335 (-38.1%), from €27,130 to €16,795
- Other debts -€8,244
down €8,244 (-13.2%), from €62,246 to €54,002
- Gross operating margin +€50,550
up €50,550 (+38.8%), from €130,348 to €180,897
- Staff costs +€34,905
up €34,905 (+103%), from €33,960 to €68,865
- Taxes +€3,103
up €3,103 (+15.7%), from €19,711 to €22,814
- Depreciation +€2,445
up €2,445 (+11.2%), from €21,855 to €24,300
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 | €313,997 | €385,947 | +€71,950 | +22.9% |
| Fixed assets | 21/28 | €51,865 | €48,272 | -€3,593 | -6.9% |
| Intangible fixed assets | 21 | €38,250 | €21,250 | -€17,000 | -44.4% |
| Tangible fixed assets | 22/27 | €13,615 | €27,022 | +€13,407 | +98.5% |
| Plant, machinery and equipment | 23 | €9,525 | €5,718 | -€3,808 | -40.0% |
| Furniture and vehicles | 24 | €781 | €18,418 | +€17,636 | +2,257% |
| Other tangible fixed assets | 26 | €3,309 | €2,887 | -€422 | -12.8% |
| Current assets | 29/58 | €262,132 | €337,675 | +€75,543 | +28.8% |
| Stocks and contracts in progress | 3 | €65,682 | €69,629 | +€3,946 | +6.0% |
| Stocks | 30/36 | €65,682 | €69,629 | +€3,946 | +6.0% |
| Amounts receivable within one year | 40/41 | €633 | €80,981 | +€80,348 | +12,694% |
| Trade receivables | 40 | €54 | €69,942 | +€69,888 | +128,921% |
| Other amounts receivable | 41 | €579 | €11,038 | +€10,460 | +1,807% |
| Cash at bank and in hand | 54/58 | €194,870 | €186,064 | -€8,805 | -4.5% |
| Deferred charges and accrued income | 490/1 | €947 | €1,002 | +€55 | +5.8% |
| Total equity and liabilities | 10/49 | €313,997 | €385,947 | +€71,950 | +22.9% |
| Equity | 10/15 | €75,686 | €130,851 | +€55,165 | +72.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €69,686 | €124,851 | +€55,165 | +79.2% |
| Distributable reserves | 133 | €69,686 | €124,851 | +€55,165 | +79.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €238,311 | €255,096 | +€16,785 | +7.0% |
| Amounts payable after more than one year | 17 | €27,130 | €16,795 | -€10,335 | -38.1% |
| Financial debts | 170/4 | €27,130 | €16,795 | -€10,335 | -38.1% |
| Amounts payable within one year | 42/48 | €211,181 | €238,301 | +€27,120 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €21,845 | €19,090 | -€2,755 | -12.6% |
| Trade debts | 44 | €47,723 | €45,596 | -€2,127 | -4.5% |
| Suppliers | 440/4 | €47,723 | €45,596 | -€2,127 | -4.5% |
| Taxes, remuneration and social security | 45 | €79,367 | €119,613 | +€40,246 | +50.7% |
| Taxes | 450/3 | €63,154 | €109,142 | +€45,988 | +72.8% |
| Remuneration and social security | 454/9 | €16,214 | €10,472 | -€5,742 | -35.4% |
| Other amounts payable | 47/48 | €62,246 | €54,002 | -€8,244 | -13.2% |
| Remuneration, social security and pensions | 62 | €33,960 | €68,865 | +€34,905 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,855 | €24,300 | +€2,445 | +11.2% |
| Other operating charges | 640/8 | €409 | €998 | +€588 | +144% |
| Gross operating margin | 9900 | €130,348 | €180,897 | +€50,550 | +38.8% |
| Operating profit (loss) | 9901 | €74,123 | €86,734 | +€12,611 | +17.0% |
| Financial income | 75/76B | €254 | €226 | -€28 | -11.0% |
| Recurring financial income | 75 | €254 | €226 | -€28 | -11.0% |
| Financial charges | 65/66B | €7,165 | €8,122 | +€957 | +13.4% |
| Recurring financial charges | 65 | €7,165 | €8,122 | +€957 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | €67,212 | €78,838 | +€11,626 | +17.3% |
| Income taxes | 67/77 | €19,711 | €22,814 | +€3,103 | +15.7% |
| Profit (loss) for the period | 9904 | €47,501 | €56,024 | +€8,523 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,501 | €56,024 | +€8,523 | +17.9% |
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 20 October 2026 via checked.be.