WESTKIP: 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.
WESTKIP
Largest movements
- Current investments +€400,000
new in 2025: €400,000
- Tangible fixed assets +€249,278
up €249,278 (+61.2%), from €407,625 to €656,903
of which Furniture and vehicles: +€248,825
- Cash -€218,821
down €218,821 (-21.7%), from €1.0m to €791,135
mainly Investment in fixed assets (net) (-€419,525) and Current investments (-€400,000)
- Deferred charges and accrued income +€51,330
up €51,330 (+51.5%), from €99,619 to €150,949
- Debts after one year +€203,342
up €203,342 (+406.7%), from €50,000 to €253,341
- Reserves +€150,000
up €150,000 (+10.5%), from €1.4m to €1.6m
of which Distributable reserves: +€150,000
- Other debts +€50,000
new in 2025: €50,000
- Short-term financial debts +€47,943
up €47,943 (+135.6%), from €35,357 to €83,300
- Profit (loss) carried forward +€39,358
up €39,358 (+36.6%), from €107,640 to €146,998
- Gross operating margin +€195,616
up €195,616 (+24.4%), from €803,061 to €998,676
- Staff costs +€53,057
up €53,057 (+11.2%), from €473,340 to €526,398
- Depreciation +€39,046
up €39,046 (+29.8%), from €131,202 to €170,247
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 | €1,745,864 | €2,248,257 | +€502,393 | +28.8% |
| Fixed assets | 21/28 | €420,260 | €669,538 | +€249,278 | +59.3% |
| Tangible fixed assets | 22/27 | €407,625 | €656,903 | +€249,278 | +61.2% |
| Land and buildings | 22 | €831 | €554 | -€277 | -33.3% |
| Plant, machinery and equipment | 23 | €426 | €1,156 | +€730 | +171.6% |
| Furniture and vehicles | 24 | €406,368 | €655,193 | +€248,825 | +61.2% |
| Financial fixed assets | 28 | €12,635 | €12,635 | = | 0.0% |
| Current assets | 29/58 | €1,325,603 | €1,578,719 | +€253,115 | +19.1% |
| Amounts receivable within one year | 40/41 | €216,029 | €236,635 | +€20,606 | +9.5% |
| Trade receivables | 40 | €182,948 | €204,012 | +€21,064 | +11.5% |
| Other amounts receivable | 41 | €33,081 | €32,624 | -€457 | -1.4% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €1,009,956 | €791,135 | -€218,821 | -21.7% |
| Deferred charges and accrued income | 490/1 | €99,619 | €150,949 | +€51,330 | +51.5% |
| Total equity and liabilities | 10/49 | €1,745,864 | €2,248,257 | +€502,393 | +28.8% |
| Equity | 10/15 | €1,561,364 | €1,750,722 | +€189,358 | +12.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,433,724 | €1,583,724 | +€150,000 | +10.5% |
| Tax-exempt reserves | 132 | €183,724 | €183,724 | = | 0.0% |
| Distributable reserves | 133 | €1,250,000 | €1,400,000 | +€150,000 | +12.0% |
| Profit (loss) carried forward | 14 | €107,640 | €146,998 | +€39,358 | +36.6% |
| Amounts payable | 17/49 | €184,500 | €497,535 | +€313,035 | +169.7% |
| Amounts payable after more than one year | 17 | €50,000 | €253,341 | +€203,342 | +406.7% |
| Financial debts | 170/4 | €50,000 | €253,341 | +€203,342 | +406.7% |
| Amounts payable within one year | 42/48 | €131,900 | €241,444 | +€109,544 | +83.1% |
| Financial debts | 43 | €35,357 | €83,300 | +€47,943 | +135.6% |
| Credit institutions | 430/8 | €35,357 | €83,300 | +€47,943 | +135.6% |
| Trade debts | 44 | €23,672 | €19,473 | -€4,199 | -17.7% |
| Suppliers | 440/4 | €23,672 | €19,473 | -€4,199 | -17.7% |
| Taxes, remuneration and social security | 45 | €72,871 | €88,671 | +€15,800 | +21.7% |
| Taxes | 450/3 | €21,146 | €15,598 | -€5,548 | -26.2% |
| Remuneration and social security | 454/9 | €51,725 | €73,073 | +€21,348 | +41.3% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Accrued charges and deferred income | 492/3 | €2,600 | €2,750 | +€150 | +5.8% |
| Remuneration, social security and pensions | 62 | €473,340 | €526,398 | +€53,057 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,202 | €170,247 | +€39,046 | +29.8% |
| Other operating charges | 640/8 | €8,959 | €17,894 | +€8,935 | +99.7% |
| Gross operating margin | 9900 | €803,061 | €998,676 | +€195,616 | +24.4% |
| Operating profit (loss) | 9901 | €189,560 | €284,138 | +€94,578 | +49.9% |
| Financial income | 75/76B | €20,724 | €13,136 | -€7,588 | -36.6% |
| Recurring financial income | 75 | €20,724 | €13,136 | -€7,588 | -36.6% |
| Financial charges | 65/66B | €4,635 | €4,249 | -€386 | -8.3% |
| Recurring financial charges | 65 | €4,635 | €4,249 | -€386 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €205,648 | €293,024 | +€87,376 | +42.5% |
| Income taxes | 67/77 | €49,617 | €53,667 | +€4,049 | +8.2% |
| Profit (loss) for the period | 9904 | €156,031 | €239,358 | +€83,327 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €156,031 | €239,358 | +€83,327 | +53.4% |
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 8 October 2026 via checked.be.