VILLERSEM: 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.
VILLERSEM
Largest movements
- Cash -€461,042
down €461,042 (-59.7%), from €771,832 to €310,790
mainly Trade debts (-€378,545) and Debts after one year (-€370,553)
- Tangible fixed assets -€298,012
down €298,012 (-14.9%), from €2.0m to €1.7m
of which Plant, machinery and equipment: -€170,629
- Trade debts -€378,545
down €378,545 (-38.6%), from €981,365 to €602,819
- Debts after one year -€370,553
down €370,553 (-24.5%), from €1.5m to €1.1m
of which Financial debts: -€370,553
- Profit (loss) carried forward +€106,798
up €106,798 (+48.6%), from €219,719 to €326,517
- Reserves -€84,200
down €84,200 (-32.7%), from €257,738 to €173,538
of which Tax-exempt reserves: -€84,200
- Accrued charges and deferred income -€67,001
down €67,001 (-50.8%), from €131,918 to €64,917
- Gross operating margin -€118,748
down €118,748 (-6.5%), from €1.8m to €1.7m
- Staff costs -€90,623
down €90,623 (-6.7%), from €1.4m to €1.3m
- Other operating charges -€34,618
down €34,618 (-49.2%), from €70,348 to €35,730
- Taxes +€26,447
up €26,447 (+338.5%), from €7,814 to €34,260
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 | €3,688,140 | €2,934,533 | -€753,607 | -20.4% |
| Formation expenses | 20 | €7,490 | €9,530 | +€2,040 | +27.2% |
| Fixed assets | 21/28 | €2,071,842 | €1,759,671 | -€312,172 | -15.1% |
| Tangible fixed assets | 22/27 | €2,006,669 | €1,708,657 | -€298,012 | -14.9% |
| Land and buildings | 22 | €1,046,055 | €936,488 | -€109,567 | -10.5% |
| Plant, machinery and equipment | 23 | €899,317 | €728,688 | -€170,629 | -19.0% |
| Furniture and vehicles | 24 | €61,297 | €43,481 | -€17,816 | -29.1% |
| Financial fixed assets | 28 | €65,173 | €51,014 | -€14,159 | -21.7% |
| Current assets | 29/58 | €1,608,808 | €1,165,333 | -€443,475 | -27.6% |
| Stocks and contracts in progress | 3 | €549,905 | €566,338 | +€16,433 | +3.0% |
| Stocks | 30/36 | €549,905 | €566,338 | +€16,433 | +3.0% |
| Amounts receivable within one year | 40/41 | €169,191 | €178,585 | +€9,394 | +5.6% |
| Trade receivables | 40 | €30,250 | €46,374 | +€16,124 | +53.3% |
| Other amounts receivable | 41 | €138,941 | €132,211 | -€6,730 | -4.8% |
| Cash at bank and in hand | 54/58 | €771,832 | €310,790 | -€461,042 | -59.7% |
| Deferred charges and accrued income | 490/1 | €117,880 | €109,620 | -€8,260 | -7.0% |
| Total equity and liabilities | 10/49 | €3,688,140 | €2,934,533 | -€753,607 | -20.4% |
| Equity | 10/15 | €577,457 | €600,055 | +€22,598 | +3.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €257,738 | €173,538 | -€84,200 | -32.7% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | - | -€84,200 | |
| Distributable reserves | 133 | €163,538 | €163,538 | = | 0.0% |
| Profit (loss) carried forward | 14 | €219,719 | €326,517 | +€106,798 | +48.6% |
| Amounts payable | 17/49 | €3,110,683 | €2,334,478 | -€776,205 | -25.0% |
| Amounts payable after more than one year | 17 | €1,510,996 | €1,140,442 | -€370,553 | -24.5% |
| Financial debts | 170/4 | €1,507,196 | €1,136,642 | -€370,553 | -24.6% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,467,770 | €1,129,119 | -€338,651 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €340,757 | €370,553 | +€29,797 | +8.7% |
| Trade debts | 44 | €981,365 | €602,819 | -€378,545 | -38.6% |
| Suppliers | 440/4 | €981,365 | €602,819 | -€378,545 | -38.6% |
| Taxes, remuneration and social security | 45 | €145,649 | €155,746 | +€10,098 | +6.9% |
| Taxes | 450/3 | €772 | €16,763 | +€15,991 | +2072.7% |
| Remuneration and social security | 454/9 | €144,877 | €138,984 | -€5,893 | -4.1% |
| Accrued charges and deferred income | 492/3 | €131,918 | €64,917 | -€67,001 | -50.8% |
| Non-recurring operating income | 76A | €8,320 | €2,376 | -€5,944 | -71.4% |
| Remuneration, social security and pensions | 62 | €1,353,403 | €1,262,780 | -€90,623 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €334,155 | €332,754 | -€1,401 | -0.4% |
| Other operating charges | 640/8 | €70,348 | €35,730 | -€34,618 | -49.2% |
| Non-recurring operating charges | 66A | €1,149 | €400 | -€749 | -65.2% |
| Gross operating margin | 9900 | €1,826,339 | €1,707,591 | -€118,748 | -6.5% |
| Operating profit (loss) | 9901 | €67,285 | €75,927 | +€8,642 | +12.8% |
| Financial income | 75/76B | €54,625 | €72,737 | +€18,113 | +33.2% |
| Recurring financial income | 75 | €54,625 | €49,216 | -€5,409 | -9.9% |
| Non-recurring financial income | 76B | - | €23,521 | +€23,521 | |
| Financial charges | 65/66B | €92,479 | €91,806 | -€673 | -0.7% |
| Recurring financial charges | 65 | €85,114 | €90,831 | +€5,717 | +6.7% |
| Non-recurring financial charges | 66B | €7,365 | €975 | -€6,390 | -86.8% |
| Profit (loss) for the period before taxes | 9903 | €29,431 | €56,859 | +€27,428 | +93.2% |
| Income taxes | 67/77 | €7,814 | €34,260 | +€26,447 | +338.5% |
| Profit (loss) for the period | 9904 | €21,618 | €22,598 | +€981 | +4.5% |
| Transfer from tax-exempt reserves | 789 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,618 | €106,798 | +€85,181 | +394.0% |
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.