Westmate: 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.
Westmate
Largest movements
- Tangible fixed assets +€41,412
up €41,412 (+10.6%), from €389,283 to €430,695
of which Furniture and vehicles: +€31,167
- Receivables within one year +€22,038
up €22,038 (+12.5%), from €176,789 to €198,827
of which Trade receivables: +€29,377
- Cash +€9,879
up €9,879 (+20.0%), from €49,368 to €59,246
mainly Net result for the year (+€120,987) and Depreciation (+€52,665)
- Reserves +€50,987
up €50,987 (+47.9%), from €106,482 to €157,469
- Trade debts -€16,389
down €16,389 (-46.6%), from €35,176 to €18,788
- Current portion of long-term debt +€16,113
up €16,113 (+31.5%), from €51,131 to €67,244
- Tax, wage and social debts +€14,641
up €14,641 (+40.6%), from €36,035 to €50,676
of which Remuneration and social security: +€8,946
- Debts after one year +€13,282
up €13,282 (+4.4%), from €300,823 to €314,105
- Other operating charges -€43,227
down €43,227 (-96.8%), from €44,660 to €1,432
- Staff costs +€30,322
up €30,322 (+63.6%), from €47,710 to €78,032
- Depreciation +€14,929
up €14,929 (+39.6%), from €37,736 to €52,665
- Gross operating margin -€7,215
down €7,215 (-2.5%), from €285,790 to €278,575
- Taxes -€4,437
down €4,437 (-22.1%), from €20,096 to €15,660
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 | €618,198 | €700,235 | +€82,037 | +13.3% |
| Fixed assets | 21/28 | €389,378 | €437,056 | +€47,678 | +12.2% |
| Intangible fixed assets | 21 | - | €6,267 | +€6,267 | |
| Tangible fixed assets | 22/27 | €389,283 | €430,695 | +€41,412 | +10.6% |
| Land and buildings | 22 | €321,464 | €309,573 | -€11,891 | -3.7% |
| Plant, machinery and equipment | 23 | €59,842 | €81,977 | +€22,135 | +37.0% |
| Furniture and vehicles | 24 | €7,977 | €39,144 | +€31,167 | +390.7% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €228,819 | €263,179 | +€34,359 | +15.0% |
| Amounts receivable within one year | 40/41 | €176,789 | €198,827 | +€22,038 | +12.5% |
| Trade receivables | 40 | €165,039 | €194,416 | +€29,377 | +17.8% |
| Other amounts receivable | 41 | €11,750 | €4,412 | -€7,339 | -62.5% |
| Cash at bank and in hand | 54/58 | €49,368 | €59,246 | +€9,879 | +20.0% |
| Deferred charges and accrued income | 490/1 | €2,663 | €5,105 | +€2,442 | +91.7% |
| Total equity and liabilities | 10/49 | €618,198 | €700,235 | +€82,037 | +13.3% |
| Equity | 10/15 | €125,032 | €176,019 | +€50,987 | +40.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €106,482 | €157,469 | +€50,987 | +47.9% |
| Distributable reserves | 133 | €106,482 | €157,469 | +€50,987 | +47.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €493,166 | €524,215 | +€31,050 | +6.3% |
| Amounts payable after more than one year | 17 | €300,823 | €314,105 | +€13,282 | +4.4% |
| Financial debts | 170/4 | €300,823 | €314,105 | +€13,282 | +4.4% |
| Amounts payable within one year | 42/48 | €192,342 | €209,389 | +€17,047 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €51,131 | €67,244 | +€16,113 | +31.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €35,176 | €18,788 | -€16,389 | -46.6% |
| Suppliers | 440/4 | €35,176 | €18,788 | -€16,389 | -46.6% |
| Taxes, remuneration and social security | 45 | €36,035 | €50,676 | +€14,641 | +40.6% |
| Taxes | 450/3 | €27,835 | €33,530 | +€5,695 | +20.5% |
| Remuneration and social security | 454/9 | €8,201 | €17,147 | +€8,946 | +109.1% |
| Other amounts payable | 47/48 | €70,000 | €72,681 | +€2,681 | +3.8% |
| Accrued charges and deferred income | 492/3 | €0 | €721 | +€721 | |
| Non-recurring operating income | 76A | €5,000 | €4,566 | -€434 | -8.7% |
| Remuneration, social security and pensions | 62 | €47,710 | €78,032 | +€30,322 | +63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,736 | €52,665 | +€14,929 | +39.6% |
| Other operating charges | 640/8 | €44,660 | €1,432 | -€43,227 | -96.8% |
| Gross operating margin | 9900 | €285,790 | €278,575 | -€7,215 | -2.5% |
| Operating profit (loss) | 9901 | €155,685 | €146,446 | -€9,239 | -5.9% |
| Financial income | 75/76B | €0 | €21 | +€21 | +70766.7% |
| Recurring financial income | 75 | €0 | €21 | +€21 | +70766.7% |
| Financial charges | 65/66B | €9,042 | €9,821 | +€779 | +8.6% |
| Recurring financial charges | 65 | €9,042 | €9,821 | +€779 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €146,643 | €136,647 | -€9,997 | -6.8% |
| Income taxes | 67/77 | €20,096 | €15,660 | -€4,437 | -22.1% |
| Profit (loss) for the period | 9904 | €126,547 | €120,987 | -€5,560 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €126,547 | €120,987 | -€5,560 | -4.4% |
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 11 October 2026 via checked.be.