TAETS-WILLEMS: what changed
Two fiscal 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.
TAETS-WILLEMS
Largest movements
- Tangible fixed assets -€12,849
down €12,849 (-2.8%), from €460,296 to €447,447
of which Land and buildings: -€11,180
- Debts after one year -€19,245
down €19,245 (-8.6%), from €223,850 to €204,605
- Profit (loss) carried forward +€14,340
up €14,340 (+29.5%), from -€48,581 to -€34,240
- Gross operating margin +€10,521
up €10,521 (+54.8%), from €19,196 to €29,717
- Financial charges +€1,433
up €1,433 (+44.3%), from €3,232 to €4,665
- Other operating charges -€781
down €781 (-18.6%), from €4,206 to €3,425
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.
Cash bridge derived
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 | €466,413 | €455,640 | -€10,773 | -2.3% |
| Fixed assets | 21/28 | €460,296 | €447,447 | -€12,849 | -2.8% |
| Tangible fixed assets | 22/27 | €460,296 | €447,447 | -€12,849 | -2.8% |
| Land and buildings | 22 | €457,749 | €446,569 | -€11,180 | -2.4% |
| Plant, machinery and equipment | 23 | €1,199 | €156 | -€1,043 | -87.0% |
| Furniture and vehicles | 24 | €1,348 | €722 | -€626 | -46.5% |
| Current assets | 29/58 | €6,117 | €8,193 | +€2,076 | +33.9% |
| Amounts receivable within one year | 40/41 | €4 | €111 | +€107 | +2824.1% |
| Other amounts receivable | 41 | €4 | €111 | +€107 | +2824.1% |
| Cash at bank and in hand | 54/58 | €2,282 | €1,978 | -€304 | -13.3% |
| Deferred charges and accrued income | 490/1 | €3,831 | €6,104 | +€2,273 | +59.3% |
| Total equity and liabilities | 10/49 | €466,413 | €455,640 | -€10,773 | -2.3% |
| Equity | 10/15 | €174,124 | €184,177 | +€10,053 | +5.8% |
| Contributions | 10/11 | €94,200 | €94,200 | = | 0.0% |
| Reserves | 13 | €128,505 | €124,218 | -€4,287 | -3.3% |
| Tax-exempt reserves | 132 | €128,505 | €124,218 | -€4,287 | -3.3% |
| Profit (loss) carried forward | 14 | -€48,581 | -€34,240 | +€14,340 | +29.5% |
| Provisions and deferred taxes | 16 | €42,835 | €41,406 | -€1,429 | -3.3% |
| Deferred taxes | 168 | €42,835 | €41,406 | -€1,429 | -3.3% |
| Amounts payable | 17/49 | €249,454 | €230,057 | -€19,397 | -7.8% |
| Amounts payable after more than one year | 17 | €223,850 | €204,605 | -€19,245 | -8.6% |
| Financial debts | 170/4 | €223,850 | €204,605 | -€19,245 | -8.6% |
| Amounts payable within one year | 42/48 | €25,604 | €25,452 | -€152 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €18,884 | €19,245 | +€362 | +1.9% |
| Trade debts | 44 | €2,798 | €180 | -€2,618 | -93.6% |
| Suppliers | 440/4 | €2,798 | €180 | -€2,618 | -93.6% |
| Taxes, remuneration and social security | 45 | €726 | €1,761 | +€1,035 | +142.6% |
| Taxes | 450/3 | €726 | €1,761 | +€1,035 | +142.6% |
| Other amounts payable | 47/48 | €3,196 | €4,266 | +€1,070 | +33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,980 | €12,849 | -€131 | -1.0% |
| Other operating charges | 640/8 | €4,206 | €3,425 | -€781 | -18.6% |
| Gross operating margin | 9900 | €19,196 | €29,717 | +€10,521 | +54.8% |
| Operating profit (loss) | 9901 | €2,010 | €13,443 | +€11,433 | +568.7% |
| Financial charges | 65/66B | €3,232 | €4,665 | +€1,433 | +44.3% |
| Recurring financial charges | 65 | €3,232 | €4,665 | +€1,433 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,222 | €8,778 | +€10,000 | |
| Transfer from deferred taxes | 780 | €1,429 | €1,429 | = | 0.0% |
| Income taxes | 67/77 | - | €155 | +€155 | |
| Profit (loss) for the period | 9904 | €207 | €10,053 | +€9,845 | +4747.7% |
| Transfer from tax-exempt reserves | 789 | €4,287 | €4,287 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,495 | €14,340 | +€9,845 | +219.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.