Dirk Willems RD: 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.
Dirk Willems RD
Largest movements
- Cash +€78,670
up €78,670 (+205%), from €38,394 to €117,064
mainly Net result for the year (+€60,879) and Receivables within one year (+€31,901)
- Receivables within one year -€31,901
down €31,901 (-86.0%), from €37,106 to €5,206
of which Other amounts receivable: -€21,259
- Tangible fixed assets -€24,865
down €24,865 (-10.0%), from €248,529 to €223,663
of which Furniture and vehicles: -€14,396
- Reserves +€31,370
up €31,370 (+15.0%), from €208,510 to €239,880
- Debts after one year -€18,949
down €18,949 (-16.6%), from €114,399 to €95,449
- Other debts +€7,399
new in 2025: €7,399
- Trade debts +€5,230
up €5,230 (+30.6%), from €17,101 to €22,331
- Gross operating margin +€23,512
up €23,512 (+14.7%), from €159,826 to €183,338
- Staff costs -€12,101
down €12,101 (-16.4%), from €73,799 to €61,698
- Taxes +€10,166
up €10,166 (+76.7%), from €13,247 to €23,413
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 | €376,372 | €398,882 | +€22,510 | +6.0% |
| Fixed assets | 21/28 | €248,569 | €223,703 | -€24,865 | -10.0% |
| Tangible fixed assets | 22/27 | €248,529 | €223,663 | -€24,865 | -10.0% |
| Land and buildings | 22 | €175,410 | €166,160 | -€9,250 | -5.3% |
| Plant, machinery and equipment | 23 | €5,852 | €4,633 | -€1,219 | -20.8% |
| Furniture and vehicles | 24 | €67,267 | €52,871 | -€14,396 | -21.4% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €127,803 | €175,178 | +€47,375 | +37.1% |
| Stocks and contracts in progress | 3 | €2,250 | €2,550 | +€300 | +13.3% |
| Stocks | 30/36 | €2,250 | €2,550 | +€300 | +13.3% |
| Amounts receivable within one year | 40/41 | €37,106 | €5,206 | -€31,901 | -86.0% |
| Trade receivables | 40 | €15,848 | €5,206 | -€10,642 | -67.2% |
| Other amounts receivable | 41 | €21,259 | €0 | -€21,259 | -100% |
| Cash at bank and in hand | 54/58 | €38,394 | €117,064 | +€78,670 | +205% |
| Deferred charges and accrued income | 490/1 | €50,053 | €50,359 | +€306 | +0.6% |
| Total equity and liabilities | 10/49 | €376,372 | €398,882 | +€22,510 | +6.0% |
| Equity | 10/15 | €215,157 | €246,536 | +€31,379 | +14.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €208,510 | €239,880 | +€31,370 | +15.0% |
| Distributable reserves | 133 | €208,510 | €239,880 | +€31,370 | +15.0% |
| Profit (loss) carried forward | 14 | €447 | €456 | +€9 | +2.0% |
| Amounts payable | 17/49 | €161,214 | €152,345 | -€8,869 | -5.5% |
| Amounts payable after more than one year | 17 | €114,399 | €95,449 | -€18,949 | -16.6% |
| Financial debts | 170/4 | €114,399 | €95,449 | -€18,949 | -16.6% |
| Amounts payable within one year | 42/48 | €46,815 | €56,896 | +€10,081 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €18,179 | €18,949 | +€771 | +4.2% |
| Trade debts | 44 | €17,101 | €22,331 | +€5,230 | +30.6% |
| Suppliers | 440/4 | €17,101 | €22,331 | +€5,230 | +30.6% |
| Taxes, remuneration and social security | 45 | €11,536 | €8,217 | -€3,319 | -28.8% |
| Taxes | 450/3 | €9,174 | €8,217 | -€957 | -10.4% |
| Remuneration and social security | 454/9 | €2,362 | €0 | -€2,362 | -100% |
| Other amounts payable | 47/48 | - | €7,399 | +€7,399 | |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100% |
| Remuneration, social security and pensions | 62 | €73,799 | €61,698 | -€12,101 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,283 | €29,765 | +€1,482 | +5.2% |
| Other operating charges | 640/8 | €2,767 | €3,225 | +€458 | +16.5% |
| Gross operating margin | 9900 | €159,826 | €183,338 | +€23,512 | +14.7% |
| Operating profit (loss) | 9901 | €54,976 | €88,650 | +€33,674 | +61.3% |
| Financial income | 75/76B | €1,403 | €1,012 | -€390 | -27.8% |
| Recurring financial income | 75 | €1,403 | €1,012 | -€390 | -27.8% |
| Financial charges | 65/66B | €6,125 | €5,371 | -€754 | -12.3% |
| Recurring financial charges | 65 | €6,125 | €5,371 | -€754 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €50,254 | €84,292 | +€34,038 | +67.7% |
| Income taxes | 67/77 | €13,247 | €23,413 | +€10,166 | +76.7% |
| Profit (loss) for the period | 9904 | €37,007 | €60,879 | +€23,872 | +64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,007 | €60,879 | +€23,872 | +64.5% |
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 1 November 2026 via checked.be.