WILL MOW: 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.
WILL MOW
Largest movements
- Tangible fixed assets +€402,807
up €402,807 (+2,900%), from €13,892 to €416,699
of which Land and buildings: +€402,781
- Cash -€21,770
down €21,770 (-25.0%), from €87,247 to €65,478
mainly Investment in fixed assets (net) (-€418,588) and Tax, wage and social debts (-€20,397)
- Stocks and contracts +€11,967
up €11,967 (+23.8%), from €50,335 to €62,302
- Debts after one year +€337,193
new in 2025: €337,193
- Reserves +€56,299
up €56,299 (+54.9%), from €102,607 to €158,906
- Tax, wage and social debts -€20,397
down €20,397 (-45.9%), from €44,409 to €24,012
- Current portion of long-term debt +€19,752
new in 2025: €19,752
- Other operating charges +€49,407
up €49,407 (+6,409%), from €771 to €50,178
- Taxes -€20,187
down €20,187 (-48.8%), from €41,352 to €21,165
- Depreciation +€13,723
up €13,723 (+759%), from €1,808 to €15,531
- Financial charges +€11,215
up €11,215 (+686%), from €1,635 to €12,849
- Gross operating margin +€7,311
up €7,311 (+4.9%), from €148,173 to €155,484
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 | €152,525 | €548,604 | +€396,079 | +260% |
| Fixed assets | 21/28 | €13,892 | €416,949 | +€403,057 | +2,901% |
| Tangible fixed assets | 22/27 | €13,892 | €416,699 | +€402,807 | +2,900% |
| Land and buildings | 22 | - | €402,781 | +€402,781 | |
| Plant, machinery and equipment | 23 | €2,389 | €1,957 | -€432 | -18.1% |
| Furniture and vehicles | 24 | €11,503 | €11,961 | +€458 | +4.0% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €138,633 | €131,655 | -€6,978 | -5.0% |
| Stocks and contracts in progress | 3 | €50,335 | €62,302 | +€11,967 | +23.8% |
| Stocks | 30/36 | €50,335 | €62,302 | +€11,967 | +23.8% |
| Amounts receivable within one year | 40/41 | €579 | €3,408 | +€2,829 | +489% |
| Trade receivables | 40 | €579 | €3,408 | +€2,829 | +489% |
| Cash at bank and in hand | 54/58 | €87,247 | €65,478 | -€21,770 | -25.0% |
| Deferred charges and accrued income | 490/1 | €472 | €467 | -€5 | -1.0% |
| Total equity and liabilities | 10/49 | €152,525 | €548,604 | +€396,079 | +260% |
| Equity | 10/15 | €107,607 | €163,906 | +€56,299 | +52.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €102,607 | €158,906 | +€56,299 | +54.9% |
| Distributable reserves | 133 | €102,607 | €158,906 | +€56,299 | +54.9% |
| Amounts payable | 17/49 | €44,918 | €384,698 | +€339,780 | +756% |
| Amounts payable after more than one year | 17 | - | €337,193 | +€337,193 | |
| Financial debts | 170/4 | - | €337,193 | +€337,193 | |
| Amounts payable within one year | 42/48 | €44,918 | €47,505 | +€2,587 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | - | €19,752 | +€19,752 | |
| Trade debts | 44 | €80 | €1,842 | +€1,763 | +2,213% |
| Suppliers | 440/4 | €80 | €1,842 | +€1,763 | +2,213% |
| Taxes, remuneration and social security | 45 | €44,409 | €24,012 | -€20,397 | -45.9% |
| Taxes | 450/3 | €44,409 | €24,012 | -€20,397 | -45.9% |
| Other amounts payable | 47/48 | €430 | €1,899 | +€1,469 | +341% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,808 | €15,531 | +€13,723 | +759% |
| Other operating charges | 640/8 | €771 | €50,178 | +€49,407 | +6,409% |
| Gross operating margin | 9900 | €148,173 | €155,484 | +€7,311 | +4.9% |
| Operating profit (loss) | 9901 | €145,594 | €89,775 | -€55,819 | -38.3% |
| Financial income | 75/76B | €0 | €539 | +€539 | +414,408% |
| Recurring financial income | 75 | €0 | €539 | +€539 | +414,408% |
| Financial charges | 65/66B | €1,635 | €12,849 | +€11,215 | +686% |
| Recurring financial charges | 65 | €1,635 | €12,849 | +€11,215 | +686% |
| Profit (loss) for the period before taxes | 9903 | €143,959 | €77,464 | -€66,495 | -46.2% |
| Income taxes | 67/77 | €41,352 | €21,165 | -€20,187 | -48.8% |
| Profit (loss) for the period | 9904 | €102,607 | €56,299 | -€46,308 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €102,607 | €56,299 | -€46,308 | -45.1% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.