I.M. 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.
What changed
I.M. WILLEMS
NACE 46.494, Wholesale of non-electrical household articles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€96,037
2024 · €143,188-€47,150
Equity
€868,695
2024 · €942,479-€73,784
Cash
€1.1m
2024 · €1.1m-€42,569
Balance sheet total
€1.8m
2024 · €1.9m-€38,613
Largest movements
Assets
- Cash -€42,569
down €42,569 (-3.8%), from €1.1m to €1.1m
mainly Contributions, distributions and other (-€169,821) and Investment in fixed assets (net) (-€41,456)
Equity and liabilities
- Other debts +€132,232
up €132,232 (+106%), from €124,982 to €257,214
- Reserves -€73,784
down €73,784 (-8.0%), from €917,479 to €843,695
of which Distributable reserves: -€73,784
- Advances received -€27,725
down €27,725 (-34.0%), from €81,495 to €53,770
- Short-term financial debts -€23,517
down €23,517 (-100%), from €23,517 to €0
- Trade debts -€22,181
down €22,181 (-17.0%), from €130,851 to €108,671
Income statement
- Gross operating margin -€100,024
down €100,024 (-30.7%), from €325,578 to €225,554
- Taxes -€23,386
down €23,386 (-37.2%), from €62,868 to €39,482
- Staff costs -€15,524
down €15,524 (-19.8%), from €78,321 to €62,797
- Other operating charges -€10,006
down €10,006 (-76.5%), from €13,071 to €3,065
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.
Result 2024
€143,188
Gross operating margin
-€100,024
Staff costs
+€15,524
Depreciation
+€2,478
Other operating charges
+€10,006
Financial income
-€1,692
Financial charges
+€3,171
Taxes
+€23,386
Result 2025
€96,037
raises the resultlowers the result
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.
From operations
+€210,947
Investment
-€41,456
Financing
-€212,059
Cash 2024
€1.1m
From operations (derived)
+€210,947
Net result for the year
+€96,037
Depreciation
+€34,918
Stocks and contracts
-€430
Receivables within one year
-€3,620
Deferred charges and accrued income
+€6,634
Trade debts
-€22,181
Tax, wage and social debts
-€2,892
Advances received
-€27,725
Other debts
+€132,232
Accrued charges and deferred income
-€2,027
Investment (derived)
-€41,456
Investment in fixed assets (net)
-€41,456
Financing
-€212,059
Current portion of long-term debt
-€18,721
Short-term financial debts
-€23,517
Contributions, distributions and other
-€169,821
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,866,311 | €1,827,698 | -€38,613 | -2.1% |
| Fixed assets | 21/28 | €117,313 | €123,851 | +€6,539 | +5.6% |
| Intangible fixed assets | 21 | €0 | €4,681 | +€4,681 | |
| Tangible fixed assets | 22/27 | €117,164 | €119,022 | +€1,858 | +1.6% |
| Land and buildings | 22 | €49,366 | €41,801 | -€7,565 | -15.3% |
| Plant, machinery and equipment | 23 | €42,674 | €37,556 | -€5,119 | -12.0% |
| Furniture and vehicles | 24 | €25,124 | €7,041 | -€18,083 | -72.0% |
| Other tangible fixed assets | 26 | - | €32,624 | +€32,624 | |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €1,748,999 | €1,703,847 | -€45,152 | -2.6% |
| Stocks and contracts in progress | 3 | €125,460 | €125,890 | +€430 | +0.3% |
| Stocks | 30/36 | €125,460 | €125,890 | +€430 | +0.3% |
| Amounts receivable within one year | 40/41 | €1,260 | €4,880 | +€3,620 | +287% |
| Trade receivables | 40 | €1,085 | €4,880 | +€3,795 | +350% |
| Other amounts receivable | 41 | €175 | €0 | -€175 | -100% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,108,093 | €1,065,525 | -€42,569 | -3.8% |
| Deferred charges and accrued income | 490/1 | €14,186 | €7,552 | -€6,634 | -46.8% |
| Total equity and liabilities | 10/49 | €1,866,311 | €1,827,698 | -€38,613 | -2.1% |
| Equity | 10/15 | €942,479 | €868,695 | -€73,784 | -7.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €917,479 | €843,695 | -€73,784 | -8.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €898,729 | €824,945 | -€73,784 | -8.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €923,833 | €959,003 | +€35,170 | +3.8% |
| Amounts payable after more than one year | 17 | €486,033 | €486,033 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €486,033 | €486,033 | = | 0.0% |
| Amounts payable within one year | 42/48 | €429,193 | €466,390 | +€37,197 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €18,721 | €0 | -€18,721 | -100% |
| Financial debts | 43 | €23,517 | €0 | -€23,517 | -100% |
| Other loans | 439 | €23,517 | €0 | -€23,517 | -100% |
| Trade debts | 44 | €130,851 | €108,671 | -€22,181 | -17.0% |
| Suppliers | 440/4 | €130,851 | €108,671 | -€22,181 | -17.0% |
| Advances received on contracts in progress | 46 | €81,495 | €53,770 | -€27,725 | -34.0% |
| Taxes, remuneration and social security | 45 | €49,627 | €46,736 | -€2,892 | -5.8% |
| Taxes | 450/3 | €44,867 | €33,457 | -€11,410 | -25.4% |
| Remuneration and social security | 454/9 | €4,760 | €13,279 | +€8,519 | +179% |
| Other amounts payable | 47/48 | €124,982 | €257,214 | +€132,232 | +106% |
| Accrued charges and deferred income | 492/3 | €8,607 | €6,580 | -€2,027 | -23.5% |
| Remuneration, social security and pensions | 62 | €78,321 | €62,797 | -€15,524 | -19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,395 | €34,918 | -€2,478 | -6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €13,071 | €3,065 | -€10,006 | -76.5% |
| Gross operating margin | 9900 | €325,578 | €225,554 | -€100,024 | -30.7% |
| Operating profit (loss) | 9901 | €196,790 | €124,773 | -€72,016 | -36.6% |
| Financial income | 75/76B | €20,653 | €18,961 | -€1,692 | -8.2% |
| Recurring financial income | 75 | €20,653 | €18,961 | -€1,692 | -8.2% |
| Financial charges | 65/66B | €11,387 | €8,216 | -€3,171 | -27.9% |
| Recurring financial charges | 65 | €11,387 | €8,216 | -€3,171 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €206,056 | €135,519 | -€70,537 | -34.2% |
| Income taxes | 67/77 | €62,868 | €39,482 | -€23,386 | -37.2% |
| Profit (loss) for the period | 9904 | €143,188 | €96,037 | -€47,150 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €143,188 | €96,037 | -€47,150 | -32.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.