Summary
WILLMACO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €252,448 and a net result of €84,978. Equity is growing by about 38% per year across the filed financial years. Its solvency ranks better than 66% of 6,680 sector peers (NACE 64, financial year 2025). The company has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Equity
€252,448▼ 9.3%
2024 · €278,238
Net result
€84,978▼ 10.1%
2024 · €94,559
Total assets
€372,319▲ 19.5%
2024 · €311,465
Solvency
67.8%▼ 21.5pp
2024 · 89.3%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 9% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€114,370
2025
Net result€84,978
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€372,319
2025
Equity€252,448
2025
Debt€119,871
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€247,794
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)22.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency67.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.07
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€14,099-€22,521▲ 59.7%€27,278▲ 21.1%€51,816▲ 90.0%€74,643▲ 44.1%€82,943▲ 11.1%€125,492▲ 51.3%€114,370▼ 8.9%
Net result€9,431-€15,553▲ 64.9%€19,202within the sector's middle half▲ 23.5%€37,142within the sector's middle half▲ 93.4%€53,598within the sector's middle half▲ 44.3%€59,905within the sector's middle half▲ 11.8%€94,559within the sector's middle half▲ 57.8%€84,978within the sector's middle half▼ 10.1%
Equity€40,532-€56,085▲ 38.4%€75,287below the sector's middle half▲ 34.2%€112,429below the sector's middle half▲ 49.3%€166,027below the sector's middle half▲ 47.7%€200,062within the sector's middle half▲ 20.5%€278,238within the sector's middle half▲ 39.1%€252,448within the sector's middle half▼ 9.3%
Total assets€44,665-€60,263▲ 34.9%€81,481below the sector's middle half▲ 35.2%€124,708below the sector's middle half▲ 53.1%€177,907below the sector's middle half▲ 42.7%€226,073below the sector's middle half▲ 27.1%€311,465below the sector's middle half▲ 37.8%€372,319below the sector's middle half▲ 19.5%
Debt€4,133-€4,178▲ 1.1%€6,194▲ 48.3%€12,279▲ 98.2%€11,881▼ 3.2%€26,011▲ 119%€33,227▲ 27.7%€119,871▲ 261%
Working capital€40,531-€56,084▲ 38.4%€75,286within the sector's middle half▲ 34.2%€111,750within the sector's middle half▲ 48.4%€162,108within the sector's middle half▲ 45.1%€197,259within the sector's middle half▲ 21.7%€276,405within the sector's middle half▲ 40.1%€247,794within the sector's middle half▼ 10.4%
Solvency90.7%-93.1%▲ 2.3pp92.4%above the sector's middle half▼ 0.7pp90.2%above the sector's middle half▼ 2.2pp93.3%above the sector's middle half▲ 3.2pp88.5%above the sector's middle half▼ 4.8pp89.3%above the sector's middle half▲ 0.8pp67.8%within the sector's middle half▼ 21.5pp
Current ratio10.81-14.42▲ 3.6213.15above the sector's middle half▼ 1.2710.10above the sector's middle half▼ 3.0514.64above the sector's middle half▲ 4.548.58above the sector's middle half▼ 6.069.32above the sector's middle half▲ 0.743.07above the sector's middle half▼ 6.25
Return on assets (ROA)21.1%-25.8%▲ 4.7pp23.6%above the sector's middle half▼ 2.2pp29.8%above the sector's middle half▲ 6.2pp30.1%above the sector's middle half▲ 0.3pp26.5%above the sector's middle half▼ 3.6pp30.4%above the sector's middle half▲ 3.9pp22.8%above the sector's middle half▼ 7.5pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €372,319
Fixed assets
€4,654 ▲ 154%
Current assets
€367,665 ▲ 18.7%
Equity and liabilities €372,319
Equity
€252,448 ▼ 9.3%
Debt
€119,871 ▲ 261%
Debt's share of the balance-sheet total rises from 10.7% to 32.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
33.7%▼
2024 · 34.0%
Debt ≤ 1 year
€119,871▲
2024 · €33,227
Income taxes
€34,136▼
2024 · €37,772
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €145 | €757 | €1,116 | €971 | €908 | ▼ 6.5% |
| Other operating charges640/8 | - | - | - | €602 | €610 | €595 | €266 | €862 | ▲ 224% |
| Gross operating margin9900 | €14,617 | €23,164 | €27,816 | €52,563 | €76,010 | €84,653 | €126,729 | €116,140 | ▼ 8.4% |
| Operating profit (loss)9901 | €14,099 | €22,521 | €27,278 | €51,816 | €74,643 | €82,943 | €125,492 | €114,370 | ▼ 8.9% |
| Financial income75/76B | - | - | - | €0 | €0 | €392 | €6,954 | €4,837 | ▼ 30.4% |
| Recurring financial income75 | - | - | €0 | €0 | €0 | €392 | €6,954 | €4,837 | ▼ 30.4% |
| Financial charges65/66B | - | - | - | €0 | €240 | €21 | €114 | €93 | ▼ 18.6% |
| Recurring financial charges65 | €73 | €71 | €75 | €0 | €240 | €21 | €114 | €93 | ▼ 18.6% |
| Profit (loss) for the period before taxes9903 | €14,027 | €22,450 | €27,204 | €51,816 | €74,403 | €83,314 | €132,331 | €119,114 | ▼ 10.0% |
| Income taxes67/77 | €4,596 | €6,897 | €8,001 | €14,674 | €20,805 | €23,409 | €37,772 | €34,136 | ▼ 9.6% |
| Profit (loss) for the period9904 | €9,431 | €15,553 | €19,202 | €37,142 | €53,598 | €59,905 | €94,559 | €84,978 | ▼ 10.1% |
| Profit (loss) for the period to be appropriated9905 | €9,431 | €15,553 | €19,202 | €37,142 | €53,598 | €59,905 | €94,559 | €84,978 | ▼ 10.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €44,665 | €60,263 | €81,481 | €124,708 | €177,907 | €226,073 | €311,465 | €372,319 | ▲ 19.5% |
| Fixed assets21/28 | €1 | €1 | €1 | €679 | €3,919 | €2,803 | €1,832 | €4,654 | ▲ 154% |
| Tangible fixed assets22/27 | - | - | - | €678 | €3,918 | €2,802 | €1,831 | €4,653 | ▲ 154% |
| Plant, machinery and equipment23 | - | - | - | - | €3,514 | €2,673 | €1,831 | €1,085 | ▼ 40.7% |
| Furniture and vehicles24 | - | - | - | €678 | €404 | €129 | - | €3,567 | - |
| Financial fixed assets28 | €1 | €1 | €1 | €1 | €1 | €1 | €1 | €1 | = |
| Current assets29/58 | €44,664 | €60,262 | €81,480 | €124,029 | €173,989 | €223,269 | €309,632 | €367,665 | ▲ 18.7% |
| Amounts receivable within one year40/41 | - | - | €306 | - | - | - | - | - | - |
| Current investments50/53 | - | - | - | - | - | €125,000 | €200,481 | €293,622 | ▲ 46.5% |
| Cash at bank and in hand54/58 | €44,664 | €58,852 | €81,174 | €124,029 | €173,989 | €98,269 | €108,575 | €73,399 | ▼ 32.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €576 | €644 | ▲ 11.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €44,665 | €60,263 | €81,481 | €124,708 | €177,907 | €226,073 | €311,465 | €372,319 | ▲ 19.5% |
| Equity10/15 | €40,532 | €56,085 | €75,287 | €112,429 | €166,027 | €200,062 | €278,238 | €252,448 | ▼ 9.3% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €28,132 | €43,685 | €62,887 | €100,029 | €153,627 | €187,662 | €265,838 | €240,048 | ▼ 9.7% |
| Non-distributable reserves130/1 | - | - | - | €2,460 | €2,460 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,460 | €2,460 | - | - | - | - |
| Distributable reserves133 | - | - | - | €97,569 | €151,167 | €187,662 | €265,838 | €240,048 | ▼ 9.7% |
| Amounts payable17/49 | €4,133 | €4,178 | €6,194 | €12,279 | €11,881 | €26,011 | €33,227 | €119,871 | ▲ 261% |
| Amounts payable within one year42/48 | €4,133 | €4,178 | €6,194 | €12,279 | €11,881 | €26,011 | €33,227 | €119,871 | ▲ 261% |
| Trade debts44 | €639 | - | - | €1,229 | - | - | €130 | €59 | ▼ 54.6% |
| Suppliers440/4 | - | - | - | €1,229 | - | - | €130 | €59 | ▼ 54.6% |
| Taxes, remuneration and social security45 | - | - | - | €8,583 | €8,628 | €13,764 | €14,444 | €7,734 | ▼ 46.5% |
| Taxes450/3 | - | - | - | €8,583 | €8,628 | €13,764 | €14,444 | €7,734 | ▼ 46.5% |
| Other amounts payable47/48 | - | - | - | €2,468 | €3,253 | €12,247 | €18,652 | €112,077 | ▲ 501% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,431 | €15,553 | €19,202 | €37,142 | €53,598 | €59,905 | €94,559 | €84,978 | ▼ 10.1% |
| + Depreciation and write-downs630 | - | - | - | €145 | €757 | €1,116 | €971 | €908 | ▼ 6.5% |
| Operating cash flow (approximation) | €9,431 | €15,553 | €19,202 | €37,287 | €54,355 | €61,020 | €95,530 | €85,886 | ▼ 10.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€823 | -€3,996 | €0 | €0 | -€3,729 | - |
| Change in cash | - | €14,189 | €22,322 | €42,855 | €49,959 | -€75,719 | €10,306 | -€35,176 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 04-03-2026 | 2026-00048362 |
| 31-12-2024 | abbreviated format | 30-06-2025 | 2025-00194258 |
| 31-12-2023 | abbreviated format | 03-07-2024 | 2024-00200345 |
| 31-12-2022 | abbreviated format | 12-07-2023 | 2023-00227499 |
| 31-12-2021 | abbreviated format | 06-07-2022 | 2022-20144973 |
| 31-12-2020 | abbreviated format | 15-07-2021 | 2021-35800098 |
| 31-12-2019 | abbreviated format | 03-07-2020 | 2020-25800230 |
| 31-12-2018 | abbreviated format | 19-07-2019 | 2019-35000259 |
| 31-12-2017 | abbreviated format | 04-07-2018 | 2018-28200344 |
| 31-12-2016 | abbreviated format | 04-07-2017 | 2017-27500476 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,128. 13,880 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.