BERNARD WILLEMS: 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.
BERNARD WILLEMS
Largest movements
- Tangible fixed assets +€238,463
up €238,463 (+100%), from €237,865 to €476,328
of which Land and buildings: +€245,910
- Cash -€194,528
down €194,528 (-45.7%), from €425,691 to €231,163
mainly Investment in fixed assets (net) (-€259,505) and Contributions, distributions and other (-€98,196)
- Receivables within one year +€14,287
up €14,287 (+16.4%), from €86,962 to €101,249
of which Other amounts receivable: +€9,941
- Reserves -€98,196
down €98,196 (-14.6%), from €674,809 to €576,614
- Other debts +€97,662
up €97,662 (+237%), from €41,171 to €138,832
- Debts after one year +€95,747
up €95,747 (+153%), from €62,529 to €158,276
- Profit (loss) carried forward -€25,566
down €25,566, from €0 to -€25,566
- Tax, wage and social debts -€19,298
down €19,298 (-78.3%), from €24,638 to €5,340
- Financial income -€262,543
down €262,543 (-99.8%), from €262,952 to €409
- Gross operating margin -€44,291
down €44,291 (-91.9%), from €48,209 to €3,918
- Taxes -€31,339
down €31,339 (-99.3%), from €31,553 to €215
- Depreciation +€2,346
up €2,346 (+12.5%), from €18,696 to €21,042
- Financial charges +€1,306
up €1,306 (+23.2%), from €5,632 to €6,939
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €840,970 | €900,075 | +€59,105 | +7.0% |
| Fixed assets | 21/28 | €307,865 | €546,328 | +€238,463 | +77.5% |
| Tangible fixed assets | 22/27 | €237,865 | €476,328 | +€238,463 | +100% |
| Land and buildings | 22 | €222,171 | €468,081 | +€245,910 | +111% |
| Plant, machinery and equipment | 23 | €10,799 | €6,435 | -€4,364 | -40.4% |
| Furniture and vehicles | 24 | €4,895 | €1,812 | -€3,083 | -63.0% |
| Financial fixed assets | 28 | €70,000 | €70,000 | = | 0.0% |
| Current assets | 29/58 | €533,105 | €353,747 | -€179,358 | -33.6% |
| Amounts receivable within one year | 40/41 | €86,962 | €101,249 | +€14,287 | +16.4% |
| Trade receivables | 40 | €24,862 | €29,208 | +€4,346 | +17.5% |
| Other amounts receivable | 41 | €62,100 | €72,041 | +€9,941 | +16.0% |
| Current investments | 50/53 | €20,000 | €20,385 | +€385 | +1.9% |
| Cash at bank and in hand | 54/58 | €425,691 | €231,163 | -€194,528 | -45.7% |
| Deferred charges and accrued income | 490/1 | €452 | €950 | +€498 | +110% |
| Total equity and liabilities | 10/49 | €840,970 | €900,075 | +€59,105 | +7.0% |
| Equity | 10/15 | €694,809 | €571,048 | -€123,761 | -17.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €674,809 | €576,614 | -€98,196 | -14.6% |
| Distributable reserves | 133 | €674,809 | €576,614 | -€98,196 | -14.6% |
| Profit (loss) carried forward | 14 | €0 | -€25,566 | -€25,566 | |
| Amounts payable | 17/49 | €146,161 | €329,027 | +€182,866 | +125% |
| Amounts payable after more than one year | 17 | €62,529 | €158,276 | +€95,747 | +153% |
| Financial debts | 170/4 | €62,529 | €158,276 | +€95,747 | +153% |
| Amounts payable within one year | 42/48 | €83,632 | €170,751 | +€87,119 | +104% |
| Current portion of amounts payable after more than one year | 42 | €17,010 | €24,849 | +€7,839 | +46.1% |
| Trade debts | 44 | €814 | €1,729 | +€916 | +113% |
| Suppliers | 440/4 | €814 | €1,729 | +€916 | +113% |
| Taxes, remuneration and social security | 45 | €24,638 | €5,340 | -€19,298 | -78.3% |
| Taxes | 450/3 | €24,638 | €5,340 | -€19,298 | -78.3% |
| Other amounts payable | 47/48 | €41,171 | €138,832 | +€97,662 | +237% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,696 | €21,042 | +€2,346 | +12.5% |
| Other operating charges | 640/8 | €1,121 | €1,698 | +€577 | +51.5% |
| Gross operating margin | 9900 | €48,209 | €3,918 | -€44,291 | -91.9% |
| Operating profit (loss) | 9901 | €28,393 | -€18,822 | -€47,215 | |
| Financial income | 75/76B | €262,952 | €409 | -€262,543 | -99.8% |
| Recurring financial income | 75 | €262,952 | €409 | -€262,543 | -99.8% |
| Financial charges | 65/66B | €5,632 | €6,939 | +€1,306 | +23.2% |
| Recurring financial charges | 65 | €5,632 | €6,939 | +€1,306 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €285,712 | -€25,351 | -€311,063 | |
| Income taxes | 67/77 | €31,553 | €215 | -€31,339 | -99.3% |
| Profit (loss) for the period | 9904 | €254,159 | -€25,566 | -€279,725 | |
| Profit (loss) for the period to be appropriated | 9905 | €254,159 | -€25,566 | -€279,725 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.