VLEESWAREN WILLIAM: 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.
VLEESWAREN WILLIAM
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+136%), from €827,065 to €2.0m
of which Plant, machinery and equipment: +€1.1m
- Cash -€157,911
down €157,911 (-31.5%), from €501,974 to €344,062
mainly Investment in fixed assets (net) (-€1.3m) and Receivables within one year (-€103,138)
- Receivables within one year +€103,138
up €103,138 (+13.0%), from €795,662 to €898,800
of which Trade receivables: +€156,817
- Stocks and contracts -€42,517
down €42,517 (-64.3%), from €66,080 to €23,563
- Trade debts +€398,228
up €398,228 (+67.5%), from €590,288 to €988,515
- Debts after one year +€296,110
up €296,110 (+33.3%), from €888,241 to €1.2m
- Profit (loss) carried forward +€287,283
up €287,283 (+134%), from €214,792 to €502,075
- Current portion of long-term debt +€54,281
up €54,281 (+70.9%), from €76,552 to €130,833
- Tax, wage and social debts +€45,078
up €45,078 (+351%), from €12,848 to €57,926
of which Remuneration and social security: +€57,215
- Gross operating margin +€747,400
up €747,400 (+160%), from €468,476 to €1.2m
- Staff costs +€544,479
new in 2025: €544,479
- Depreciation +€82,015
up €82,015 (+54.3%), from €151,007 to €233,023
- Financial charges +€22,048
up €22,048 (+27.2%), from €80,977 to €103,025
- Taxes +€13,728
up €13,728 (+38.6%), from €35,539 to €49,267
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 | €2,214,484 | €3,236,339 | +€1.0m | +46.1% |
| Fixed assets | 21/28 | €849,538 | €1,965,811 | +€1.1m | +131% |
| Intangible fixed assets | 21 | €22,473 | €12,473 | -€10,000 | -44.5% |
| Tangible fixed assets | 22/27 | €827,065 | €1,953,338 | +€1.1m | +136% |
| Plant, machinery and equipment | 23 | €825,039 | €1,952,358 | +€1.1m | +137% |
| Furniture and vehicles | 24 | €2,026 | €980 | -€1,046 | -51.6% |
| Current assets | 29/58 | €1,364,946 | €1,270,528 | -€94,418 | -6.9% |
| Stocks and contracts in progress | 3 | €66,080 | €23,563 | -€42,517 | -64.3% |
| Stocks | 30/36 | €66,080 | €23,563 | -€42,517 | -64.3% |
| Amounts receivable within one year | 40/41 | €795,662 | €898,800 | +€103,138 | +13.0% |
| Trade receivables | 40 | €613,108 | €769,925 | +€156,817 | +25.6% |
| Other amounts receivable | 41 | €182,554 | €128,874 | -€53,680 | -29.4% |
| Cash at bank and in hand | 54/58 | €501,974 | €344,062 | -€157,911 | -31.5% |
| Deferred charges and accrued income | 490/1 | €1,230 | €4,104 | +€2,873 | +234% |
| Total equity and liabilities | 10/49 | €2,214,484 | €3,236,339 | +€1.0m | +46.1% |
| Equity | 10/15 | €490,892 | €778,175 | +€287,283 | +58.5% |
| Contributions | 10/11 | €251,000 | €251,000 | = | 0.0% |
| Reserves | 13 | €25,100 | €25,100 | = | 0.0% |
| Distributable reserves | 133 | €25,100 | €25,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €214,792 | €502,075 | +€287,283 | +134% |
| Amounts payable | 17/49 | €1,723,592 | €2,458,164 | +€734,572 | +42.6% |
| Amounts payable after more than one year | 17 | €888,241 | €1,184,351 | +€296,110 | +33.3% |
| Financial debts | 170/4 | €888,241 | €1,184,351 | +€296,110 | +33.3% |
| Amounts payable within one year | 42/48 | €815,106 | €1,272,875 | +€457,769 | +56.2% |
| Current portion of amounts payable after more than one year | 42 | €76,552 | €130,833 | +€54,281 | +70.9% |
| Trade debts | 44 | €590,288 | €988,515 | +€398,228 | +67.5% |
| Suppliers | 440/4 | €590,288 | €988,515 | +€398,228 | +67.5% |
| Advances received on contracts in progress | 46 | €2,016 | - | -€2,016 | |
| Taxes, remuneration and social security | 45 | €12,848 | €57,926 | +€45,078 | +351% |
| Taxes | 450/3 | €12,848 | €711 | -€12,137 | -94.5% |
| Remuneration and social security | 454/9 | - | €57,215 | +€57,215 | |
| Other amounts payable | 47/48 | €133,402 | €95,601 | -€37,802 | -28.3% |
| Accrued charges and deferred income | 492/3 | €20,244 | €938 | -€19,306 | -95.4% |
| Remuneration, social security and pensions | 62 | - | €544,479 | +€544,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,007 | €233,023 | +€82,015 | +54.3% |
| Other operating charges | 640/8 | €942 | €1,046 | +€104 | +11.0% |
| Non-recurring operating charges | 66A | - | €94 | +€94 | |
| Gross operating margin | 9900 | €468,476 | €1,215,876 | +€747,400 | +160% |
| Operating profit (loss) | 9901 | €316,527 | €437,234 | +€120,708 | +38.1% |
| Financial income | 75/76B | €10 | €2,341 | +€2,331 | +23,384% |
| Recurring financial income | 75 | €10 | €2,341 | +€2,331 | +23,384% |
| Financial charges | 65/66B | €80,977 | €103,025 | +€22,048 | +27.2% |
| Recurring financial charges | 65 | €80,977 | €103,025 | +€22,048 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €235,560 | €336,550 | +€100,991 | +42.9% |
| Income taxes | 67/77 | €35,539 | €49,267 | +€13,728 | +38.6% |
| Profit (loss) for the period | 9904 | €200,020 | €287,283 | +€87,263 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €200,020 | €287,283 | +€87,263 | +43.6% |
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 19 October 2026 via checked.be.