Fanny WILLEM: 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.
Fanny WILLEM
Largest movements
- Stocks and contracts +€44,754
up €44,754 (+38.5%), from €116,307 to €161,061
- Cash +€44,048
up €44,048 (+40.1%), from €109,741 to €153,788
mainly Net result for the year (+€82,808) and Other debts (+€69,433)
- Receivables within one year -€13,844
down €13,844 (-87.2%), from €15,875 to €2,032
of which Trade receivables: -€8,295
- Intangible fixed assets -€4,275
down €4,275 (-28.4%), from €15,048 to €10,772
- Other debts +€69,433
up €69,433 (+64.9%), from €106,953 to €176,386
- Profit (loss) carried forward +€32,808
up €32,808 (+28.1%), from €116,888 to €149,696
- Trade debts -€13,168
down €13,168 (-41.1%), from €32,025 to €18,857
of which Bills of exchange payable: -€7,128
- Debts after one year -€9,206
down €9,206 (-66.4%), from €13,871 to €4,664
- Tax, wage and social debts -€7,459
down €7,459 (-16.3%), from €45,727 to €38,268
of which Taxes: -€7,886
- Gross operating margin +€100,320
up €100,320 (+121%), from €83,169 to €183,488
- Staff costs +€33,276
up €33,276 (+237%), from €14,052 to €47,327
- Taxes +€13,095
up €13,095 (+227%), from €5,759 to €18,854
- Other operating charges -€5,519
down €5,519 (-78.2%), from €7,059 to €1,540
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 | €335,792 | €405,799 | +€70,007 | +20.8% |
| Fixed assets | 21/28 | €88,185 | €80,233 | -€7,953 | -9.0% |
| Intangible fixed assets | 21 | €15,048 | €10,772 | -€4,275 | -28.4% |
| Tangible fixed assets | 22/27 | €73,137 | €69,382 | -€3,756 | -5.1% |
| Land and buildings | 22 | €38,475 | €40,889 | +€2,414 | +6.3% |
| Plant, machinery and equipment | 23 | €4,016 | €3,137 | -€879 | -21.9% |
| Furniture and vehicles | 24 | €30,647 | €25,355 | -€5,291 | -17.3% |
| Financial fixed assets | 28 | - | €79 | +€79 | |
| Current assets | 29/58 | €247,606 | €325,567 | +€77,960 | +31.5% |
| Stocks and contracts in progress | 3 | €116,307 | €161,061 | +€44,754 | +38.5% |
| Stocks | 30/36 | €116,307 | €161,061 | +€44,754 | +38.5% |
| Amounts receivable within one year | 40/41 | €15,875 | €2,032 | -€13,844 | -87.2% |
| Trade receivables | 40 | €8,295 | €0 | -€8,295 | -100% |
| Other amounts receivable | 41 | €7,580 | €2,032 | -€5,549 | -73.2% |
| Cash at bank and in hand | 54/58 | €109,741 | €153,788 | +€44,048 | +40.1% |
| Deferred charges and accrued income | 490/1 | €5,683 | €8,686 | +€3,003 | +52.8% |
| Total equity and liabilities | 10/49 | €335,792 | €405,799 | +€70,007 | +20.8% |
| Equity | 10/15 | €121,888 | €154,696 | +€32,808 | +26.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,888 | €149,696 | +€32,808 | +28.1% |
| Amounts payable | 17/49 | €213,904 | €251,103 | +€37,199 | +17.4% |
| Amounts payable after more than one year | 17 | €13,871 | €4,664 | -€9,206 | -66.4% |
| Financial debts | 170/4 | €13,871 | €4,664 | -€9,206 | -66.4% |
| Amounts payable within one year | 42/48 | €197,136 | €244,302 | +€47,166 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €9,047 | €9,206 | +€160 | +1.8% |
| Financial debts | 43 | €3,385 | €0 | -€3,385 | -100% |
| Credit institutions | 430/8 | €3,385 | €0 | -€3,385 | -100% |
| Trade debts | 44 | €32,025 | €18,857 | -€13,168 | -41.1% |
| Suppliers | 440/4 | €24,897 | €18,857 | -€6,040 | -24.3% |
| Bills of exchange payable | 441 | €7,128 | €0 | -€7,128 | -100% |
| Advances received on contracts in progress | 46 | - | €1,585 | +€1,585 | |
| Taxes, remuneration and social security | 45 | €45,727 | €38,268 | -€7,459 | -16.3% |
| Taxes | 450/3 | €35,199 | €27,313 | -€7,886 | -22.4% |
| Remuneration and social security | 454/9 | €10,528 | €10,956 | +€427 | +4.1% |
| Other amounts payable | 47/48 | €106,953 | €176,386 | +€69,433 | +64.9% |
| Accrued charges and deferred income | 492/3 | €2,897 | €2,137 | -€761 | -26.3% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €14,052 | €47,327 | +€33,276 | +237% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,607 | €24,982 | -€1,624 | -6.1% |
| Other operating charges | 640/8 | €7,059 | €1,540 | -€5,519 | -78.2% |
| Gross operating margin | 9900 | €83,169 | €183,488 | +€100,320 | +121% |
| Operating profit (loss) | 9901 | €35,451 | €109,638 | +€74,187 | +209% |
| Financial income | 75/76B | €13 | €6 | -€7 | -52.2% |
| Recurring financial income | 75 | €13 | €6 | -€7 | -52.2% |
| Financial charges | 65/66B | €9,407 | €7,981 | -€1,426 | -15.2% |
| Recurring financial charges | 65 | €9,407 | €7,981 | -€1,426 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €26,056 | €101,663 | +€75,606 | +290% |
| Income taxes | 67/77 | €5,759 | €18,854 | +€13,095 | +227% |
| Profit (loss) for the period | 9904 | €20,297 | €82,808 | +€62,511 | +308% |
| Profit (loss) for the period to be appropriated | 9905 | €20,297 | €82,808 | +€62,511 | +308% |
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 28 October 2026 via checked.be.