WES: what changed
WES
Largest movements
- Receivables within one year +€16,357
new in 2025: €16,357
of which Other amounts receivable: +€15,982
- Tangible fixed assets -€14,491
down €14,491 (-21.9%), from €66,294 to €51,803
of which Furniture and vehicles: -€12,826
- Cash -€12,155
down €12,155 (-68.3%), from €17,797 to €5,642
mainly Receivables within one year (-€16,357) and Debts after one year (-€12,977)
- Current investments -€5,801
down €5,801 (-96.7%), from €5,999 to €198
- Stocks and contracts +€5,455
new in 2025: €5,455
- Debts after one year -€12,977
down €12,977 (-32.0%), from €40,617 to €27,640
- Reserves +€2,890
up €2,890 (+10.0%), from €29,000 to €31,890
- Other debts -€2,534
no longer reported in 2025 (was €2,534)
- Tax, wage and social debts +€1,874
up €1,874 (+71.7%), from €2,614 to €4,488
- Depreciation +€9,060
up €9,060 (+156%), from €5,791 to €14,851
- Gross operating margin -€3,920
down €3,920 (-14.7%), from €26,636 to €22,716
- Taxes +€1,232
up €1,232 (+115%), from €1,067 to €2,300
- Financial charges -€979
down €979 (-28.4%), from €3,451 to €2,473
- Financial income +€629
up €629 (+12,325%), from €5 to €634
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €90,365 | €79,456 | -€10,909 | -12.1% |
| Fixed assets | 21/28 | €66,569 | €51,803 | -€14,766 | -22.2% |
| Tangible fixed assets | 22/27 | €66,294 | €51,803 | -€14,491 | -21.9% |
| Plant, machinery and equipment | 23 | €8,135 | €6,471 | -€1,664 | -20.5% |
| Furniture and vehicles | 24 | €58,158 | €45,332 | -€12,826 | -22.1% |
| Financial fixed assets | 28 | €275 | - | -€275 | |
| Current assets | 29/58 | €23,796 | €27,653 | +€3,857 | +16.2% |
| Stocks and contracts in progress | 3 | - | €5,455 | +€5,455 | |
| Stocks | 30/36 | - | €5,455 | +€5,455 | |
| Amounts receivable within one year | 40/41 | - | €16,357 | +€16,357 | |
| Trade receivables | 40 | - | €375 | +€375 | |
| Other amounts receivable | 41 | - | €15,982 | +€15,982 | |
| Current investments | 50/53 | €5,999 | €198 | -€5,801 | -96.7% |
| Cash at bank and in hand | 54/58 | €17,797 | €5,642 | -€12,155 | -68.3% |
| Total equity and liabilities | 10/49 | €90,365 | €79,456 | -€10,909 | -12.1% |
| Equity | 10/15 | €31,275 | €34,166 | +€2,891 | +9.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €29,000 | €31,890 | +€2,890 | +10.0% |
| Distributable reserves | 133 | €29,000 | €31,890 | +€2,890 | +10.0% |
| Profit (loss) carried forward | 14 | €275 | €276 | +€1 | +0.4% |
| Amounts payable | 17/49 | €59,090 | €45,290 | -€13,800 | -23.4% |
| Amounts payable after more than one year | 17 | €40,617 | €27,640 | -€12,977 | -32.0% |
| Financial debts | 170/4 | €40,617 | €27,640 | -€12,977 | -32.0% |
| Amounts payable within one year | 42/48 | €18,236 | €17,650 | -€586 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €12,446 | €12,977 | +€531 | +4.3% |
| Trade debts | 44 | €642 | €185 | -€458 | -71.2% |
| Suppliers | 440/4 | €642 | €185 | -€458 | -71.2% |
| Taxes, remuneration and social security | 45 | €2,614 | €4,488 | +€1,874 | +71.7% |
| Taxes | 450/3 | €2,614 | €4,488 | +€1,874 | +71.7% |
| Other amounts payable | 47/48 | €2,534 | - | -€2,534 | |
| Accrued charges and deferred income | 492/3 | €236 | - | -€236 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,791 | €14,851 | +€9,060 | +156% |
| Other operating charges | 640/8 | €746 | €836 | +€90 | +12.0% |
| Non-recurring operating charges | 66A | €16,057 | - | -€16,057 | |
| Gross operating margin | 9900 | €26,636 | €22,716 | -€3,920 | -14.7% |
| Operating profit (loss) | 9901 | €4,041 | €7,030 | +€2,988 | +73.9% |
| Financial income | 75/76B | €5 | €634 | +€629 | +12,325% |
| Recurring financial income | 75 | €5 | €634 | +€629 | +12,325% |
| Financial charges | 65/66B | €3,451 | €2,473 | -€979 | -28.4% |
| Recurring financial charges | 65 | €3,451 | €2,473 | -€979 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €595 | €5,191 | +€4,596 | +772% |
| Income taxes | 67/77 | €1,067 | €2,300 | +€1,232 | +115% |
| Profit (loss) for the period | 9904 | -€472 | €2,891 | +€3,364 | |
| Profit (loss) for the period to be appropriated | 9905 | -€472 | €2,891 | +€3,364 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.