Westhof & Partners: 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.
Westhof & Partners
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€4,538
up €4,538 (+49.7%), from €9,132 to €13,670
- Taxes +€1,094
up €1,094 (+1,342%), from €82 to €1,176
- Depreciation +€957
up €957 (+10.1%), from €9,436 to €10,392
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 | €234,488 | €235,282 | +€794 | +0.3% |
| Fixed assets | 21/28 | €198,342 | €198,136 | -€207 | -0.1% |
| Tangible fixed assets | 22/27 | €198,342 | €198,136 | -€207 | -0.1% |
| Land and buildings | 22 | €198,342 | €194,585 | -€3,758 | -1.9% |
| Furniture and vehicles | 24 | - | €3,551 | +€3,551 | |
| Current assets | 29/58 | €36,145 | €37,146 | +€1,000 | +2.8% |
| Amounts receivable within one year | 40/41 | €918 | €1,743 | +€824 | +89.7% |
| Other amounts receivable | 41 | €918 | €1,743 | +€824 | +89.7% |
| Cash at bank and in hand | 54/58 | €35,227 | €35,403 | +€176 | +0.5% |
| Total equity and liabilities | 10/49 | €234,488 | €235,282 | +€794 | +0.3% |
| Equity | 10/15 | €217,771 | €217,589 | -€182 | -0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €199,179 | €198,997 | -€182 | -0.1% |
| Tax-exempt reserves | 132 | €35,085 | €32,342 | -€2,743 | -7.8% |
| Distributable reserves | 133 | €164,094 | €166,655 | +€2,561 | +1.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €11,695 | €10,781 | -€914 | -7.8% |
| Deferred taxes | 168 | €11,695 | €10,781 | -€914 | -7.8% |
| Amounts payable | 17/49 | €5,022 | €6,912 | +€1,890 | +37.6% |
| Amounts payable within one year | 42/48 | €5,022 | €5,434 | +€412 | +8.2% |
| Trade debts | 44 | €363 | €62 | -€301 | -82.9% |
| Suppliers | 440/4 | €363 | €62 | -€301 | -82.9% |
| Other amounts payable | 47/48 | €4,659 | €5,372 | +€713 | +15.3% |
| Accrued charges and deferred income | 492/3 | - | €1,478 | +€1,478 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,436 | €10,392 | +€957 | +10.1% |
| Other operating charges | 640/8 | €2,775 | €2,792 | +€17 | +0.6% |
| Gross operating margin | 9900 | €9,132 | €13,670 | +€4,538 | +49.7% |
| Operating profit (loss) | 9901 | -€3,079 | €485 | +€3,564 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €403 | €407 | +€3 | +0.8% |
| Recurring financial charges | 65 | €403 | €407 | +€3 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,482 | €79 | +€3,561 | |
| Transfer from deferred taxes | 780 | €914 | €914 | = | 0.0% |
| Income taxes | 67/77 | €82 | €1,176 | +€1,094 | +1,342% |
| Profit (loss) for the period | 9904 | -€2,649 | -€182 | +€2,467 | +93.1% |
| Transfer from tax-exempt reserves | 789 | €2,743 | €2,743 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94 | €2,561 | +€2,467 | +2,618% |
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 25 October 2026 via checked.be.