Westfro: 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.
What changed
Westfro
NACE 10.393, Manufacture of food products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · -€568,175+€1.9m
Equity
€29.5m
2024 · €28.3m+€1.3m
Cash
€552,377
2024 · €298,453+€253,924
Balance sheet total
€75.5m
2024 · €80.0m-€4.4m
Largest movements
Assets
- Receivables within one year -€2.9m
down €2.9m (-29.4%), from €10.0m to €7.0m
of which Trade receivables: -€2.8m
- Tangible fixed assets -€1.4m
down €1.4m (-4.6%), from €30.9m to €29.5m
of which Leasing and similar rights: -€847,743
Equity and liabilities
- Trade debts -€3.5m
down €3.5m (-11.0%), from €31.5m to €28.1m
- Debts after one year -€2.3m
down €2.3m (-21.3%), from €10.8m to €8.5m
- Profit (loss) carried forward +€1.3m
up €1.3m (+6.4%), from €20.2m to €21.5m
Income statement
- Turnover +€7.6m
up €7.6m (+7.3%), from €103.8m to €111.4m
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.
Result 2024
-€568,175
Turnover
+€7.6m
Other operating income
-€377,544
Goods and materials
-€44,447
Services and other goods
-€952,382
Staff costs
-€602,894
Depreciation
+€68,966
Write-downs
+€4,004
Other operating charges
-€32,453
Other operating items
-€3.8m
Financial income
-€224,677
Financial charges
+€307,242
Taxes
-€38,400
Result 2025
€1.3m
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.
From operations
+€6.1m
Investment
-€2.9m
Financing
-€2.9m
Cash 2024
€298,453
From operations (derived)
+€6.1m
Net result for the year
+€1.3m
Depreciation
+€4.4m
Stocks and contracts
+€281,562
Receivables within one year
+€2.9m
Smaller working-capital items
-€7,309
Trade debts
-€3.5m
Tax, wage and social debts
+€25,499
Other debts
+€242,926
Accrued charges and deferred income
+€352,164
Investment (derived)
-€2.9m
Investment in fixed assets (net)
-€2.9m
Financing
-€2.9m
Debts after one year
-€2.3m
Current portion of long-term debt
-€551,550
Contributions, distributions and other
-€32,929
Cash 2025
€552,377
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,963,337 | €75,529,398 | -€4.4m | -5.5% |
| Fixed assets | 21/28 | €31,011,023 | €29,530,832 | -€1.5m | -4.8% |
| Intangible fixed assets | 21 | €118,852 | €74,864 | -€43,988 | -37.0% |
| Tangible fixed assets | 22/27 | €30,892,171 | €29,455,968 | -€1.4m | -4.6% |
| Land and buildings | 22 | €15,450,704 | €14,745,692 | -€705,012 | -4.6% |
| Plant, machinery and equipment | 23 | €11,839,319 | €11,970,273 | +€130,955 | +1.1% |
| Furniture and vehicles | 24 | €225,514 | €211,111 | -€14,403 | -6.4% |
| Leasing and similar rights | 25 | €3,376,635 | €2,528,892 | -€847,743 | -25.1% |
| Current assets | 29/58 | €48,952,313 | €45,998,566 | -€3.0m | -6.0% |
| Stocks and contracts in progress | 3 | €38,406,188 | €38,124,627 | -€281,562 | -0.7% |
| Stocks | 30/36 | €38,406,188 | €38,124,627 | -€281,562 | -0.7% |
| Raw materials and consumables | 30/31 | €1,162,308 | €1,216,155 | +€53,846 | +4.6% |
| Finished goods | 33 | - | €36,908,472 | +€36.9m | |
| Goods purchased for resale | 34 | €37,243,880 | - | -€37.2m | |
| Amounts receivable within one year | 40/41 | €9,956,145 | €7,033,704 | -€2.9m | -29.4% |
| Trade receivables | 40 | €8,149,375 | €5,362,358 | -€2.8m | -34.2% |
| Other amounts receivable | 41 | €1,806,771 | €1,671,346 | -€135,425 | -7.5% |
| Cash at bank and in hand | 54/58 | €298,453 | €552,377 | +€253,924 | +85.1% |
| Deferred charges and accrued income | 490/1 | €291,526 | €287,859 | -€3,668 | -1.3% |
| Total equity and liabilities | 10/49 | €79,963,337 | €75,529,398 | -€4.4m | -5.5% |
| Equity | 10/15 | €28,281,349 | €29,548,715 | +€1.3m | +4.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €6,908,653 | €6,908,653 | = | 0.0% |
| Non-distributable reserves | 130/1 | €125,285 | €125,285 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,285 | €25,285 | = | 0.0% |
| Distributable reserves | 133 | €6,783,368 | €6,783,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,226,893 | €21,527,188 | +€1.3m | +6.4% |
| Investment grants | 15 | €145,802 | €112,873 | -€32,929 | -22.6% |
| Provisions and deferred taxes | 16 | €48,601 | €37,624 | -€10,976 | -22.6% |
| Deferred taxes | 168 | €48,601 | €37,624 | -€10,976 | -22.6% |
| Amounts payable | 17/49 | €51,633,387 | €45,943,059 | -€5.7m | -11.0% |
| Amounts payable after more than one year | 17 | €10,795,615 | €8,500,000 | -€2.3m | -21.3% |
| Financial debts | 170/4 | €10,795,615 | €8,500,000 | -€2.3m | -21.3% |
| Leasing and similar obligations | 172 | €295,615 | €0 | -€295,615 | -100.0% |
| Credit institutions | 173 | €10,500,000 | €8,500,000 | -€2.0m | -19.0% |
| Amounts payable within one year | 42/48 | €40,730,300 | €36,983,424 | -€3.7m | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €2,847,165 | €2,295,615 | -€551,550 | -19.4% |
| Trade debts | 44 | €31,535,472 | €28,071,721 | -€3.5m | -11.0% |
| Suppliers | 440/4 | €31,535,472 | €28,071,721 | -€3.5m | -11.0% |
| Taxes, remuneration and social security | 45 | €1,320,483 | €1,345,983 | +€25,499 | +1.9% |
| Taxes | 450/3 | €34,158 | €37,082 | +€2,924 | +8.6% |
| Remuneration and social security | 454/9 | €1,286,326 | €1,308,901 | +€22,575 | +1.8% |
| Other amounts payable | 47/48 | €5,027,180 | €5,270,105 | +€242,926 | +4.8% |
| Accrued charges and deferred income | 492/3 | €107,472 | €459,635 | +€352,164 | +327.7% |
| Operating income | 70/76A | €108,844,423 | €112,249,739 | +€3.4m | +3.1% |
| Turnover | 70 | €103,828,307 | €111,416,501 | +€7.6m | +7.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €3,497,212 | -€335,408 | -€3.8m | |
| Other operating income | 74 | €1,517,404 | €1,139,860 | -€377,544 | -24.9% |
| Non-recurring operating income | 76A | €1,500 | €28,786 | +€27,286 | +1819.1% |
| Operating charges | 60/66A | €108,741,696 | €110,322,707 | +€1.6m | +1.5% |
| Goods for resale, raw materials and consumables | 60 | €72,068,365 | €72,112,812 | +€44,447 | +0.1% |
| Purchases | 600/8 | €74,185,822 | €72,166,658 | -€2.0m | -2.7% |
| Change in stocks: decrease (increase) | 609 | -€2,117,457 | -€53,846 | +€2.1m | +97.5% |
| Services and other goods | 61 | €24,293,244 | €25,245,626 | +€952,382 | +3.9% |
| Remuneration, social security and pensions | 62 | €7,492,138 | €8,095,032 | +€602,894 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,466,204 | €4,397,239 | -€68,966 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€4,004 | -€4,004 | |
| Other operating charges | 640/8 | €421,745 | €454,198 | +€32,453 | +7.7% |
| Non-recurring operating charges | 66A | €0 | €21,804 | +€21,804 | |
| Operating profit (loss) | 9901 | €102,727 | €1,927,032 | +€1.8m | +1775.9% |
| Financial income | 75/76B | €696,360 | €471,683 | -€224,677 | -32.3% |
| Recurring financial income | 75 | €696,360 | €471,683 | -€224,677 | -32.3% |
| Income from current assets | 751 | €541,051 | €327,407 | -€213,644 | -39.5% |
| Other financial income | 752/9 | €155,309 | €144,275 | -€11,033 | -7.1% |
| Financial charges | 65/66B | €1,376,289 | €1,069,047 | -€307,242 | -22.3% |
| Recurring financial charges | 65 | €1,376,289 | €1,069,047 | -€307,242 | -22.3% |
| Debt charges | 650 | €1,305,985 | €974,311 | -€331,674 | -25.4% |
| Other financial charges | 652/9 | €70,304 | €94,736 | +€24,432 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | -€577,202 | €1,329,667 | +€1.9m | |
| Transfer from deferred taxes | 780 | €10,976 | €10,976 | = | 0.0% |
| Income taxes | 67/77 | €1,949 | €40,349 | +€38,400 | +1970.5% |
| Taxes | 670/3 | €1,949 | €40,349 | +€38,400 | +1970.5% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€568,175 | €1,300,295 | +€1.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€568,175 | €1,300,295 | +€1.9m |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.