WILBOW: 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.
WILBOW
Largest movements
- Receivables within one year +€482,443
up €482,443 (+79.5%), from €607,037 to €1.1m
of which Trade receivables: +€391,606
- Stocks and contracts +€260,000
up €260,000 (+28.3%), from €920,000 to €1.2m
- Cash -€144,610
down €144,610 (-51.9%), from €278,802 to €134,192
mainly Receivables within one year (-€482,443) and Stocks and contracts (-€260,000)
- Tangible fixed assets -€140,750
down €140,750 (-16.2%), from €868,205 to €727,455
- Other debts +€220,515
up €220,515 (+71.7%), from €307,354 to €527,869
- Accrued charges and deferred income +€200,000
new in 2025: €200,000
- Trade debts +€146,594
up €146,594 (+231.0%), from €63,464 to €210,058
- Debts after one year -€86,069
down €86,069 (-27.9%), from €308,863 to €222,794
- Purchases and services +€505,287
up €505,287 (+56.1%), from €900,256 to €1.4m
- Turnover +€332,141
up €332,141 (+13.5%), from €2.5m to €2.8m
- Gross operating margin -€173,146
down €173,146 (-11.1%), from €1.6m to €1.4m
- Staff costs +€74,324
up €74,324 (+8.9%), from €838,976 to €913,300
- Taxes -€59,388
down €59,388 (-44.9%), from €132,201 to €72,813
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 | €2,735,332 | €3,195,932 | +€460,600 | +16.8% |
| Fixed assets | 21/28 | €885,197 | €744,447 | -€140,750 | -15.9% |
| Tangible fixed assets | 22/27 | €868,205 | €727,455 | -€140,750 | -16.2% |
| Land and buildings | 22 | €568,542 | €522,336 | -€46,206 | -8.1% |
| Plant, machinery and equipment | 23 | €122,044 | €78,454 | -€43,591 | -35.7% |
| Furniture and vehicles | 24 | €168,437 | €122,728 | -€45,709 | -27.1% |
| Other tangible fixed assets | 26 | €9,181 | €3,937 | -€5,244 | -57.1% |
| Financial fixed assets | 28 | €16,992 | €16,992 | = | 0.0% |
| Current assets | 29/58 | €1,850,135 | €2,451,486 | +€601,350 | +32.5% |
| Stocks and contracts in progress | 3 | €920,000 | €1,180,000 | +€260,000 | +28.3% |
| Stocks | 30/36 | €920,000 | €1,180,000 | +€260,000 | +28.3% |
| Amounts receivable within one year | 40/41 | €607,037 | €1,089,480 | +€482,443 | +79.5% |
| Trade receivables | 40 | €484,430 | €876,035 | +€391,606 | +80.8% |
| Other amounts receivable | 41 | €122,608 | €213,445 | +€90,837 | +74.1% |
| Cash at bank and in hand | 54/58 | €278,802 | €134,192 | -€144,610 | -51.9% |
| Deferred charges and accrued income | 490/1 | €44,296 | €47,813 | +€3,518 | +7.9% |
| Total equity and liabilities | 10/49 | €2,735,332 | €3,195,932 | +€460,600 | +16.8% |
| Equity | 10/15 | €1,926,412 | €1,923,523 | -€2,889 | -0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,861,450 | €1,861,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €1,750,000 | €1,750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180 | €73 | -€107 | -59.5% |
| Investment grants | 15 | €2,782 | - | -€2,782 | |
| Provisions and deferred taxes | 16 | €927 | - | -€927 | |
| Deferred taxes | 168 | €927 | - | -€927 | |
| Amounts payable | 17/49 | €807,993 | €1,272,409 | +€464,416 | +57.5% |
| Amounts payable after more than one year | 17 | €308,863 | €222,794 | -€86,069 | -27.9% |
| Financial debts | 170/4 | €308,863 | €222,794 | -€86,069 | -27.9% |
| Amounts payable within one year | 42/48 | €499,130 | €849,615 | +€350,485 | +70.2% |
| Current portion of amounts payable after more than one year | 42 | €115,011 | €86,069 | -€28,943 | -25.2% |
| Trade debts | 44 | €63,464 | €210,058 | +€146,594 | +231.0% |
| Suppliers | 440/4 | €63,464 | €210,058 | +€146,594 | +231.0% |
| Taxes, remuneration and social security | 45 | €13,301 | €25,620 | +€12,318 | +92.6% |
| Remuneration and social security | 454/9 | €13,301 | €25,620 | +€12,318 | +92.6% |
| Other amounts payable | 47/48 | €307,354 | €527,869 | +€220,515 | +71.7% |
| Accrued charges and deferred income | 492/3 | - | €200,000 | +€200,000 | |
| Turnover | 70 | €2,460,879 | €2,793,020 | +€332,141 | +13.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €900,256 | €1,405,544 | +€505,287 | +56.1% |
| Remuneration, social security and pensions | 62 | €838,976 | €913,300 | +€74,324 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,620 | €172,239 | -€16,382 | -8.7% |
| Other operating charges | 640/8 | €14,641 | €14,102 | -€538 | -3.7% |
| Gross operating margin | 9900 | €1,560,623 | €1,387,477 | -€173,146 | -11.1% |
| Operating profit (loss) | 9901 | €518,386 | €287,835 | -€230,551 | -44.5% |
| Financial income | 75/76B | €2,589 | €2,873 | +€284 | +11.0% |
| Recurring financial income | 75 | €2,589 | €2,873 | +€284 | +11.0% |
| Financial charges | 65/66B | €13,158 | €9,370 | -€3,789 | -28.8% |
| Recurring financial charges | 65 | €13,158 | €9,370 | -€3,789 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €507,817 | €281,338 | -€226,478 | -44.6% |
| Transfer from deferred taxes | 780 | - | €927 | +€927 | |
| Income taxes | 67/77 | €132,201 | €72,813 | -€59,388 | -44.9% |
| Profit (loss) for the period | 9904 | €375,616 | €209,453 | -€166,163 | -44.2% |
| Transfer to tax-exempt reserves | 689 | €105,250 | - | -€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €270,366 | €209,453 | -€60,913 | -22.5% |
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 5 October 2026 via checked.be.