WESTVLEES GROUP: 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.
What changed
WESTVLEES GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.9m
2024 · €27.0m-€24.1m
Equity
€134.4m
2024 · €134.4m-€52,254
Cash
€86,276
2024 · €50,296+€35,980
Balance sheet total
€134.4m
2024 · €144.5m-€10.1m
Largest movements
Assets
- Current investments -€10.1m
no longer reported in 2025 (was €10.1m)
Equity and liabilities
- Other debts -€10.0m
no longer reported in 2025 (was €10.0m)
Income statement
- Financial income -€24.2m
down €24.2m (-89.4%), from €27.0m to €2.9m
- Taxes -€27,539
down €27,539 (-78.4%), from €35,146 to €7,607
of which Taxes: -€27,557
- Services and other goods +€13,030
up €13,030 (+32.3%), from €40,401 to €53,431
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.
Result 2024
€27.0m
Services and other goods
-€13,030
Other operating charges
-€33
Financial income
-€24.2m
Financial charges
-€1
Taxes
+€27,539
Result 2025
€2.9m
raises the resultlowers the result
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.
From operations
-€7.1m
Investment
+€10.1m
Financing
-€2.9m
Cash 2024
€50,296
From operations (derived)
-€7.1m
Net result for the year
+€2.9m
Smaller working-capital items
+€7,325
Other debts
-€10.0m
Investment (derived)
+€10.1m
Current investments
+€10.1m
Financing
-€2.9m
Contributions, distributions and other
-€2.9m
Cash 2025
€86,276
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €144,485,114 | €134,420,027 | -€10.1m | -7.0% |
| Fixed assets | 21/28 | €134,305,436 | €134,305,436 | = | 0.0% |
| Financial fixed assets | 28 | €134,305,436 | €134,305,436 | = | 0.0% |
| Affiliated companies | 280/1 | €134,305,436 | €134,305,436 | = | 0.0% |
| Participating interests | 280 | €134,305,436 | €134,305,436 | = | 0.0% |
| Current assets | 29/58 | €10,179,679 | €114,591 | -€10.1m | -98.9% |
| Amounts receivable within one year | 40/41 | €24,734 | €28,315 | +€3,581 | +14.5% |
| Trade receivables | 40 | €24,200 | €24,200 | = | 0.0% |
| Other amounts receivable | 41 | €534 | €4,115 | +€3,581 | +671% |
| Current investments | 50/53 | €10,100,000 | - | -€10.1m | |
| Other investments | 51/53 | €10,100,000 | - | -€10.1m | |
| Cash at bank and in hand | 54/58 | €50,296 | €86,276 | +€35,980 | +71.5% |
| Deferred charges and accrued income | 490/1 | €4,649 | - | -€4,649 | |
| Total equity and liabilities | 10/49 | €144,485,114 | €134,420,027 | -€10.1m | -7.0% |
| Equity | 10/15 | €134,427,098 | €134,374,844 | -€52,254 | 0.0% |
| Contributions | 10/11 | €115,414,807 | €115,414,807 | = | 0.0% |
| Capital | 10 | €115,414,807 | €115,414,807 | = | 0.0% |
| Issued capital | 100 | €115,414,807 | €115,414,807 | = | 0.0% |
| Reserves | 13 | €19,012,292 | €18,960,037 | -€52,254 | -0.3% |
| Non-distributable reserves | 130/1 | €2,524,244 | €2,668,901 | +€144,657 | +5.7% |
| Legal reserve | 130 | €2,524,244 | €2,668,901 | +€144,657 | +5.7% |
| Distributable reserves | 133 | €16,488,047 | €16,291,136 | -€196,911 | -1.2% |
| Amounts payable | 17/49 | €10,058,016 | €45,183 | -€10.0m | -99.6% |
| Amounts payable within one year | 42/48 | €10,058,016 | €45,183 | -€10.0m | -99.6% |
| Trade debts | 44 | €38,601 | €44,125 | +€5,524 | +14.3% |
| Suppliers | 440/4 | €38,601 | €44,125 | +€5,524 | +14.3% |
| Taxes, remuneration and social security | 45 | €324 | €1,058 | +€734 | +227% |
| Taxes | 450/3 | €324 | €1,058 | +€734 | +227% |
| Other amounts payable | 47/48 | €10,019,091 | - | -€10.0m | |
| Operating income | 70/76A | €80,000 | €80,000 | = | 0.0% |
| Turnover | 70 | €80,000 | €80,000 | = | 0.0% |
| Operating charges | 60/66A | €41,494 | €54,558 | +€13,063 | +31.5% |
| Services and other goods | 61 | €40,401 | €53,431 | +€13,030 | +32.3% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Operating profit (loss) | 9901 | €38,506 | €25,442 | -€13,063 | -33.9% |
| Financial income | 75/76B | €27,026,969 | €2,875,474 | -€24.2m | -89.4% |
| Recurring financial income | 75 | €27,026,969 | €2,875,474 | -€24.2m | -89.4% |
| Income from financial fixed assets | 750 | €26,924,642 | €2,870,309 | -€24.1m | -89.3% |
| Income from current assets | 751 | €102,327 | €5,165 | -€97,162 | -95.0% |
| Other financial income | 752/9 | €1 | - | -€1 | |
| Financial charges | 65/66B | €176 | €178 | +€1 | +0.8% |
| Recurring financial charges | 65 | €176 | €178 | +€1 | +0.8% |
| Other financial charges | 652/9 | €176 | €178 | +€1 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €27,065,298 | €2,900,738 | -€24.2m | -89.3% |
| Income taxes | 67/77 | €35,146 | €7,607 | -€27,539 | -78.4% |
| Taxes | 670/3 | €35,164 | €7,607 | -€27,557 | -78.4% |
| Tax adjustments and reversals of tax provisions | 77 | €18 | - | -€18 | |
| Profit (loss) for the period | 9904 | €27,030,152 | €2,893,131 | -€24.1m | -89.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,030,152 | €2,893,131 | -€24.1m | -89.3% |
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 30 October 2026 via checked.be.