WESTKAAI RE: 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.
WESTKAAI RE
Largest movements
- Tangible fixed assets -€28,504
down €28,504 (-1.9%), from €1.5m to €1.5m
of which Land and buildings: -€28,504
- Reserves +€87,571
up €87,571 (+28.5%), from €306,809 to €394,380
of which Distributable reserves: +€87,571
- Debts after one year -€84,998
down €84,998 (-8.9%), from €950,773 to €865,775
- Trade debts -€32,955
down €32,955 (-71.3%), from €46,207 to €13,253
- Gross operating margin +€47,340
up €47,340 (+37.1%), from €127,545 to €174,885
- Taxes +€10,590
up €10,590 (+55.9%), from €18,935 to €29,525
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 | €1,600,140 | €1,568,403 | -€31,736 | -2.0% |
| Fixed assets | 21/28 | €1,525,810 | €1,497,306 | -€28,504 | -1.9% |
| Tangible fixed assets | 22/27 | €1,525,810 | €1,497,306 | -€28,504 | -1.9% |
| Land and buildings | 22 | €1,523,560 | €1,495,056 | -€28,504 | -1.9% |
| Other tangible fixed assets | 26 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €74,330 | €71,097 | -€3,232 | -4.3% |
| Amounts receivable within one year | 40/41 | €145 | €475 | +€330 | +228% |
| Trade receivables | 40 | €145 | - | -€145 | |
| Other amounts receivable | 41 | - | €475 | +€475 | |
| Cash at bank and in hand | 54/58 | €72,370 | €70,622 | -€1,748 | -2.4% |
| Deferred charges and accrued income | 490/1 | €1,815 | - | -€1,815 | |
| Total equity and liabilities | 10/49 | €1,600,140 | €1,568,403 | -€31,736 | -2.0% |
| Equity | 10/15 | €354,138 | €441,709 | +€87,571 | +24.7% |
| Contributions | 10/11 | €47,329 | €47,329 | = | 0.0% |
| Reserves | 13 | €306,809 | €394,380 | +€87,571 | +28.5% |
| Non-distributable reserves | 130/1 | €4,418 | €4,418 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,418 | €4,418 | = | 0.0% |
| Distributable reserves | 133 | €302,392 | €389,963 | +€87,571 | +29.0% |
| Provisions and deferred taxes | 16 | €45,284 | €43,521 | -€1,763 | -3.9% |
| Deferred taxes | 168 | €45,284 | €43,521 | -€1,763 | -3.9% |
| Amounts payable | 17/49 | €1,200,718 | €1,083,173 | -€117,545 | -9.8% |
| Amounts payable after more than one year | 17 | €950,773 | €865,775 | -€84,998 | -8.9% |
| Financial debts | 170/4 | €950,773 | €865,775 | -€84,998 | -8.9% |
| Amounts payable within one year | 42/48 | €249,945 | €217,398 | -€32,547 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €84,349 | €84,998 | +€649 | +0.8% |
| Trade debts | 44 | €46,207 | €13,253 | -€32,955 | -71.3% |
| Suppliers | 440/4 | €46,207 | €13,253 | -€32,955 | -71.3% |
| Taxes, remuneration and social security | 45 | €20,518 | €18,935 | -€1,583 | -7.7% |
| Taxes | 450/3 | €20,518 | €18,935 | -€1,583 | -7.7% |
| Other amounts payable | 47/48 | €98,871 | €100,213 | +€1,342 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,160 | €50,163 | +€3 | 0.0% |
| Other operating charges | 640/8 | €1,171 | €1,519 | +€348 | +29.8% |
| Gross operating margin | 9900 | €127,545 | €174,885 | +€47,340 | +37.1% |
| Operating profit (loss) | 9901 | €76,214 | €123,203 | +€46,989 | +61.7% |
| Financial charges | 65/66B | €8,492 | €7,870 | -€622 | -7.3% |
| Recurring financial charges | 65 | €8,492 | €7,870 | -€622 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €67,722 | €115,333 | +€47,611 | +70.3% |
| Transfer from deferred taxes | 780 | €1,763 | €1,763 | = | 0.0% |
| Income taxes | 67/77 | €18,935 | €29,525 | +€10,590 | +55.9% |
| Profit (loss) for the period | 9904 | €50,550 | €87,571 | +€37,020 | +73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,550 | €87,571 | +€37,020 | +73.2% |
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 26 October 2026 via checked.be.