WESTMARKT: 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.
WESTMARKT
Largest movements
- Intangible fixed assets -€678,805
no longer reported in 2025 (was €678,805)
- Current investments +€600,000
new in 2025: €600,000
- Tangible fixed assets -€103,382
down €103,382 (-33.3%), from €310,217 to €206,835
of which Land and buildings: -€110,059
- Cash +€101,035
up €101,035 (+3379.7%), from €2,989 to €104,025
mainly Investment in fixed assets (net) (+€760,448) and Net result for the year (+€403,969)
- Receivables within one year +€42,626
up €42,626 (+379.0%), from €11,248 to €53,874
of which Other amounts receivable: +€38,818
- Debts after one year -€484,795
no longer reported in 2025 (was €484,795)
- Reserves +€403,969
up €403,969 (+163.9%), from €246,538 to €650,507
of which Distributable reserves: +€422,164
- Current portion of long-term debt +€147,462
up €147,462 (+148.2%), from €99,530 to €246,992
- Accrued charges and deferred income -€133,495
down €133,495 (-91.0%), from €146,695 to €13,200
- Tax, wage and social debts +€23,733
up €23,733 (+108.4%), from €21,904 to €45,637
- Gross operating margin +€474,095
up €474,095 (+270.3%), from €175,425 to €649,520
- Taxes +€187,411
up €187,411 (+1535.7%), from €12,204 to €199,615
- Depreciation -€149,282
down €149,282 (-87.3%), from €171,021 to €21,738
- Staff costs -€59,262
down €59,262 (-97.8%), from €60,605 to €1,344
- Financial charges -€10,812
down €10,812 (-46.1%), from €23,432 to €12,620
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 | €1,005,380 | €966,313 | -€39,067 | -3.9% |
| Fixed assets | 21/28 | €989,466 | €207,280 | -€782,187 | -79.1% |
| Intangible fixed assets | 21 | €678,805 | - | -€678,805 | |
| Tangible fixed assets | 22/27 | €310,217 | €206,835 | -€103,382 | -33.3% |
| Land and buildings | 22 | €279,866 | €169,808 | -€110,059 | -39.3% |
| Plant, machinery and equipment | 23 | €1,890 | €966 | -€923 | -48.9% |
| Furniture and vehicles | 24 | €28,461 | €36,061 | +€7,600 | +26.7% |
| Financial fixed assets | 28 | €445 | €445 | = | 0.0% |
| Current assets | 29/58 | €15,914 | €759,033 | +€743,120 | +4669.7% |
| Amounts receivable within one year | 40/41 | €11,248 | €53,874 | +€42,626 | +379.0% |
| Trade receivables | 40 | €3,452 | €7,260 | +€3,808 | +110.3% |
| Other amounts receivable | 41 | €7,796 | €46,614 | +€38,818 | +497.9% |
| Current investments | 50/53 | - | €600,000 | +€600,000 | |
| Cash at bank and in hand | 54/58 | €2,989 | €104,025 | +€101,035 | +3379.7% |
| Deferred charges and accrued income | 490/1 | €1,676 | €1,135 | -€541 | -32.3% |
| Total equity and liabilities | 10/49 | €1,005,380 | €966,313 | -€39,067 | -3.9% |
| Equity | 10/15 | €219,870 | €623,838 | +€403,969 | +183.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €246,538 | €650,507 | +€403,969 | +163.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,195 | - | -€18,195 | |
| Distributable reserves | 133 | €222,193 | €644,357 | +€422,164 | +190.0% |
| Profit (loss) carried forward | 14 | -€88,169 | -€88,169 | = | 0.0% |
| Amounts payable | 17/49 | €785,510 | €342,475 | -€443,036 | -56.4% |
| Amounts payable after more than one year | 17 | €484,795 | - | -€484,795 | |
| Financial debts | 170/4 | €484,795 | - | -€484,795 | |
| Amounts payable within one year | 42/48 | €154,019 | €329,275 | +€175,255 | +113.8% |
| Current portion of amounts payable after more than one year | 42 | €99,530 | €246,992 | +€147,462 | +148.2% |
| Trade debts | 44 | €7,595 | €1,293 | -€6,302 | -83.0% |
| Suppliers | 440/4 | €7,595 | €1,293 | -€6,302 | -83.0% |
| Taxes, remuneration and social security | 45 | €21,904 | €45,637 | +€23,733 | +108.4% |
| Taxes | 450/3 | €21,904 | €45,637 | +€23,733 | +108.4% |
| Other amounts payable | 47/48 | €24,991 | €35,353 | +€10,362 | +41.5% |
| Accrued charges and deferred income | 492/3 | €146,695 | €13,200 | -€133,495 | -91.0% |
| Remuneration, social security and pensions | 62 | €60,605 | €1,344 | -€59,262 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,021 | €21,738 | -€149,282 | -87.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €387 | - | -€387 | |
| Other operating charges | 640/8 | €13,274 | €14,374 | +€1,100 | +8.3% |
| Gross operating margin | 9900 | €175,425 | €649,520 | +€474,095 | +270.3% |
| Operating profit (loss) | 9901 | -€69,861 | €612,064 | +€681,926 | |
| Financial income | 75/76B | €166 | €4,139 | +€3,973 | +2386.9% |
| Recurring financial income | 75 | €166 | €4,139 | +€3,973 | +2386.9% |
| Financial charges | 65/66B | €23,432 | €12,620 | -€10,812 | -46.1% |
| Recurring financial charges | 65 | €23,432 | €12,620 | -€10,812 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | -€93,127 | €603,584 | +€696,711 | |
| Income taxes | 67/77 | €12,204 | €199,615 | +€187,411 | +1535.7% |
| Profit (loss) for the period | 9904 | -€105,331 | €403,969 | +€509,300 | |
| Transfer from tax-exempt reserves | 789 | - | €18,195 | +€18,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€105,331 | €422,164 | +€527,495 |
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 4 October 2026 via checked.be.