Financials
Financial year 2025
WESTELEC from Ieper, company number BE0466516550, closed financial year 2025 with a result of € 741,383 after tax. For that financial year WESTELEC recorded a gross margin of € 2.9 million and equity of € 3.9 million. Compared with financial year 2024, the result moved from € 579,444 to € 741,383. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 24, 2026.
€ 3.9 million
▲ 23% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 741,383
▲ 28% vs 2024
Profit after tax over the fiscal year.
€ 2.8 million
▼ 9% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 3.7 million.
People and assets in 2025
24.9
▼ 3.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.8 million
▼ 4% vs 2024
€ 73,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 205,873
▼ 15% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 313,634
▼ 46% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 361,233
▲ 30% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,144,864 | € 1,263,612 | € 2,622,264 | € 2,916,261 | ▲ 11% |
| Profit after taxes | € -288,471 | € 23,423 | € 579,444 | € 741,383 | ▲ 28% |
| Equity | € 2,784,184 | € 2,807,607 | € 3,165,713 | € 3,907,096 | ▲ 23% |
| Total debts | € 598,166 | € 493,552 | € 1,222,660 | € 829,465 | ▼ 32% |
| Cash | € 1,993,936 | € 2,267,913 | € 3,018,464 | € 2,750,070 | ▼ 9% |
| Land & buildings | € 33,846 | € 27,981 | € 16,251 | € 13,179 | ▼ 19% |
| Retained profit | € 2,550,584 | € 2,574,007 | € 2,932,113 | € 3,673,496 | ▲ 25% |
| Dividend | € 0 | € 0 | € 367,000 | € 0 | ▼ 100% |
| Balance sheet total | € 3,382,350 | € 3,301,159 | € 4,388,374 | € 4,736,561 | ▲ 8% |
| Employees (FTE) | 20.9 | 20 | 28.2 | 24.9 | ▼ 3.3 |
Key figures of WESTELEC, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to WESTELEC?
What happened at WESTELEC in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- René Schepens stepped down as director. NBB
- Johny Jonckheere stepped down as director. NBB
- Wouter Baert stepped down as director. NBB
- Christian Corijn stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 741,383 (▲ 28% vs 2024). Source: NBB ↗
- Johny Jonckheere became a director. NBB
- Wouter Baert became a director. NBB
- Christian Corijn became a director. NBB
In short
From € 288,471 loss in 2021 to € 741,383 profit in 2025.
Paid € 480,659 in corporate taxes since 2021.
Best year ever: 2025, with € 741,383 profit.
On average € 117,100 of value added per employee in 2025.
A new publication or filing at WESTELEC? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Advices for Technical Systems comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
WESTELECThe shares are held by Advices for Technical Systems (100%).
Directors
According to the 2025 annual accounts
René Schepens
Chairman of the board
Also active at: Chauffage Coussement, VDC ROESELARE, ATS Antwerp, ALGEMENE ELEKTRICITEIT DE MULDER, ACAR, Gezel, Emaco International, Advices for Technical Systems +22 more
since 2020 · until 2026
since 2024 · until 2026
Wouter Baert
Managing director
since 2023 · until 2026
Christian Corijn
Director
Also active at: VDC ROESELARE, ATS Antwerp, ALGEMENE ELEKTRICITEIT DE MULDER, Emaco International, Advices for Technical Systems, Autrosystems, ELEKTRIEK, All Professional Services +8 more
since 2022 · until 2026
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Paddevijverstraat 50
8900 Ieper
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0466.516.550
- VAT number
- BE 0466.516.550
- Registered office
- Paddevijverstraat 50, 8900 Ieper
- Names & denominations
- WESTELEC
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 3 August 1999
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- [email protected] 057/21.36.70
- Activities · NACE
Algemene elektrotechnische installatiewerken
Elektrische installatie