W.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.
W.WILLEMS
Largest movements
- Receivables after one year -€100,000
down €100,000 (-100%), from €100,000 to €0
- Receivables within one year +€40,884
up €40,884 (+1,733%), from €2,359 to €43,243
of which Other amounts receivable: +€34,480
- Cash -€19,859
down €19,859 (-17.5%), from €113,573 to €93,714
mainly Other debts (-€61,837) and Receivables within one year (-€40,884)
- Current investments +€15,780
up €15,780 (+11.6%), from €135,513 to €151,293
- Tangible fixed assets -€15,491
down €15,491 (-16.4%), from €94,476 to €78,985
of which Other tangible fixed assets: -€10,504
- Other debts -€61,837
down €61,837 (-79.9%), from €77,346 to €15,509
- Debts after one year -€11,259
down €11,259 (-32.4%), from €34,740 to €23,481
- Tax, wage and social debts -€10,635
down €10,635 (-61.4%), from €17,320 to €6,685
- Gross operating margin -€73,325
down €73,325 (-61.8%), from €118,593 to €45,268
- Taxes -€17,966
down €17,966 (-68.5%), from €26,239 to €8,273
- Financial income +€5,043
up €5,043 (+268%), from €1,880 to €6,923
- Other operating charges -€1,369
down €1,369 (-47.8%), from €2,865 to €1,496
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 | €447,605 | €367,572 | -€80,033 | -17.9% |
| Fixed assets | 21/28 | €94,476 | €78,985 | -€15,491 | -16.4% |
| Tangible fixed assets | 22/27 | €94,476 | €78,985 | -€15,491 | -16.4% |
| Land and buildings | 22 | €39,840 | €31,707 | -€8,134 | -20.4% |
| Plant, machinery and equipment | 23 | €707 | €1,886 | +€1,178 | +167% |
| Furniture and vehicles | 24 | €0 | €1,969 | +€1,969 | |
| Other tangible fixed assets | 26 | €53,928 | €43,424 | -€10,504 | -19.5% |
| Current assets | 29/58 | €353,129 | €288,587 | -€64,542 | -18.3% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100% |
| Amounts receivable within one year | 40/41 | €2,359 | €43,243 | +€40,884 | +1,733% |
| Trade receivables | 40 | €1,486 | €7,889 | +€6,404 | +431% |
| Other amounts receivable | 41 | €874 | €35,354 | +€34,480 | +3,946% |
| Current investments | 50/53 | €135,513 | €151,293 | +€15,780 | +11.6% |
| Cash at bank and in hand | 54/58 | €113,573 | €93,714 | -€19,859 | -17.5% |
| Deferred charges and accrued income | 490/1 | €1,683 | €336 | -€1,347 | -80.0% |
| Total equity and liabilities | 10/49 | €447,605 | €367,572 | -€80,033 | -17.9% |
| Equity | 10/15 | €302,845 | €302,586 | -€259 | -0.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €214,413 | €214,154 | -€259 | -0.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,335 | €1,335 | = | 0.0% |
| Distributable reserves | 133 | €213,078 | €212,819 | -€259 | -0.1% |
| Profit (loss) carried forward | 14 | €76,033 | €76,033 | = | 0.0% |
| Amounts payable | 17/49 | €144,759 | €64,985 | -€79,774 | -55.1% |
| Amounts payable after more than one year | 17 | €34,740 | €23,481 | -€11,259 | -32.4% |
| Financial debts | 170/4 | €34,740 | €23,481 | -€11,259 | -32.4% |
| Amounts payable within one year | 42/48 | €110,019 | €41,178 | -€68,841 | -62.6% |
| Current portion of amounts payable after more than one year | 42 | €10,950 | €11,259 | +€309 | +2.8% |
| Trade debts | 44 | €4,404 | €7,726 | +€3,323 | +75.5% |
| Suppliers | 440/4 | €4,404 | €7,726 | +€3,323 | +75.5% |
| Taxes, remuneration and social security | 45 | €17,320 | €6,685 | -€10,635 | -61.4% |
| Taxes | 450/3 | €17,320 | €6,685 | -€10,635 | -61.4% |
| Other amounts payable | 47/48 | €77,346 | €15,509 | -€61,837 | -79.9% |
| Accrued charges and deferred income | 492/3 | - | €326 | +€326 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,603 | €19,654 | +€51 | +0.3% |
| Other operating charges | 640/8 | €2,865 | €1,496 | -€1,369 | -47.8% |
| Gross operating margin | 9900 | €118,593 | €45,268 | -€73,325 | -61.8% |
| Operating profit (loss) | 9901 | €96,125 | €24,117 | -€72,007 | -74.9% |
| Financial income | 75/76B | €1,880 | €6,923 | +€5,043 | +268% |
| Recurring financial income | 75 | €1,880 | €6,923 | +€5,043 | +268% |
| Financial charges | 65/66B | €6,273 | €6,701 | +€429 | +6.8% |
| Recurring financial charges | 65 | €6,273 | €6,701 | +€429 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €91,732 | €24,339 | -€67,393 | -73.5% |
| Income taxes | 67/77 | €26,239 | €8,273 | -€17,966 | -68.5% |
| Profit (loss) for the period | 9904 | €65,493 | €16,066 | -€49,427 | -75.5% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €65,493 | €16,066 | -€49,427 | -75.5% |
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 18 October 2026 via checked.be.