FILIP WILLEMS: what changed
FILIP WILLEMS
Largest movements
- Receivables within one year +€31,289
up €31,289 (+111%), from €28,112 to €59,401
of which Other amounts receivable: +€29,756
- Cash -€28,245
down €28,245 (-32.8%), from €86,074 to €57,829
mainly Receivables within one year (-€31,289) and Contributions, distributions and other (-€26,074)
- Tangible fixed assets -€7,062
down €7,062 (-18.3%), from €38,519 to €31,458
of which Land and buildings: -€3,808
- Trade debts -€23,546
no longer reported in 2025 (was €23,546)
- Short-term financial debts +€16,000
new in 2025: €16,000
- Tax, wage and social debts +€4,965
up €4,965 (+179%), from €2,778 to €7,743
- Reserves -€2,280
down €2,280 (-1.4%), from €159,478 to €157,198
- Gross operating margin -€4,433
down €4,433 (-9.1%), from €48,562 to €44,130
- Taxes -€1,636
down €1,636 (-12.0%), from €13,622 to €11,986
- Depreciation +€613
up €613 (+9.5%), from €6,449 to €7,062
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,801 | €180,941 | -€4,860 | -2.6% |
| Fixed assets | 21/28 | €38,519 | €31,458 | -€7,062 | -18.3% |
| Tangible fixed assets | 22/27 | €38,519 | €31,458 | -€7,062 | -18.3% |
| Land and buildings | 22 | €28,541 | €24,733 | -€3,808 | -13.3% |
| Plant, machinery and equipment | 23 | €2,229 | €1,421 | -€807 | -36.2% |
| Furniture and vehicles | 24 | €7,750 | €5,303 | -€2,447 | -31.6% |
| Current assets | 29/58 | €147,282 | €149,483 | +€2,201 | +1.5% |
| Amounts receivable after more than one year | 29 | €31,000 | €31,000 | = | 0.0% |
| Other amounts receivable | 291 | €31,000 | €31,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,112 | €59,401 | +€31,289 | +111% |
| Trade receivables | 40 | - | €1,533 | +€1,533 | |
| Other amounts receivable | 41 | €28,112 | €57,868 | +€29,756 | +106% |
| Cash at bank and in hand | 54/58 | €86,074 | €57,829 | -€28,245 | -32.8% |
| Deferred charges and accrued income | 490/1 | €2,096 | €1,253 | -€843 | -40.2% |
| Total equity and liabilities | 10/49 | €185,801 | €180,941 | -€4,860 | -2.6% |
| Equity | 10/15 | €159,478 | €157,198 | -€2,280 | -1.4% |
| Reserves | 13 | €159,478 | €157,198 | -€2,280 | -1.4% |
| Distributable reserves | 133 | €159,478 | €157,198 | -€2,280 | -1.4% |
| Amounts payable | 17/49 | €26,323 | €23,743 | -€2,580 | -9.8% |
| Amounts payable within one year | 42/48 | €26,323 | €23,743 | -€2,580 | -9.8% |
| Financial debts | 43 | - | €16,000 | +€16,000 | |
| Credit institutions | 430/8 | - | €16,000 | +€16,000 | |
| Trade debts | 44 | €23,546 | - | -€23,546 | |
| Suppliers | 440/4 | €23,546 | - | -€23,546 | |
| Taxes, remuneration and social security | 45 | €2,778 | €7,743 | +€4,965 | +179% |
| Taxes | 450/3 | €2,778 | €7,743 | +€4,965 | +179% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,449 | €7,062 | +€613 | +9.5% |
| Other operating charges | 640/8 | €1,886 | €1,733 | -€153 | -8.1% |
| Gross operating margin | 9900 | €48,562 | €44,130 | -€4,433 | -9.1% |
| Operating profit (loss) | 9901 | €40,227 | €35,335 | -€4,892 | -12.2% |
| Financial income | 75/76B | €870 | €792 | -€78 | -8.9% |
| Recurring financial income | 75 | €870 | €792 | -€78 | -8.9% |
| Financial charges | 65/66B | €147 | €348 | +€201 | +136% |
| Recurring financial charges | 65 | €147 | €348 | +€201 | +136% |
| Profit (loss) for the period before taxes | 9903 | €40,949 | €35,779 | -€5,170 | -12.6% |
| Income taxes | 67/77 | €13,622 | €11,986 | -€1,636 | -12.0% |
| Profit (loss) for the period | 9904 | €27,327 | €23,793 | -€3,534 | -12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,327 | €23,793 | -€3,534 | -12.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.