Willaert Sam: 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.
Willaert Sam
Largest movements
- Cash +€58,238
up €58,238 (+17.7%), from €329,550 to €387,788
mainly Net result for the year (+€48,953) and Other debts (+€34,505)
- Receivables within one year -€32,806
down €32,806 (-55.6%), from €58,954 to €26,148
of which Trade receivables: -€35,257
- Tangible fixed assets +€17,268
up €17,268 (+6.9%), from €250,928 to €268,196
of which Furniture and vehicles: +€23,949
- Other debts +€34,505
up €34,505 (+746%), from €4,626 to €39,131
- Debts after one year -€21,088
down €21,088 (-10.9%), from €192,703 to €171,615
- Reserves +€14,561
up €14,561 (+3.7%), from €392,322 to €406,883
- Gross operating margin -€43,834
down €43,834 (-31.7%), from €138,120 to €94,286
- Taxes -€5,729
down €5,729 (-17.7%), from €32,394 to €26,665
- Financial income +€3,882
new in 2025: €3,882
- Other operating charges +€1,943
new in 2025: €1,943
- Depreciation +€1,449
up €1,449 (+21.4%), from €6,783 to €8,232
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 | €647,850 | €683,631 | +€35,781 | +5.5% |
| Fixed assets | 21/28 | €250,928 | €268,196 | +€17,268 | +6.9% |
| Tangible fixed assets | 22/27 | €250,928 | €268,196 | +€17,268 | +6.9% |
| Land and buildings | 22 | €250,928 | €244,247 | -€6,681 | -2.7% |
| Furniture and vehicles | 24 | - | €23,949 | +€23,949 | |
| Current assets | 29/58 | €396,922 | €415,435 | +€18,513 | +4.7% |
| Stocks and contracts in progress | 3 | €7,836 | €1,499 | -€6,337 | -80.9% |
| Stocks | 30/36 | €2,707 | €1,499 | -€1,208 | -44.6% |
| Contracts in progress | 37 | €5,129 | - | -€5,129 | |
| Amounts receivable within one year | 40/41 | €58,954 | €26,148 | -€32,806 | -55.6% |
| Trade receivables | 40 | €55,956 | €20,699 | -€35,257 | -63.0% |
| Other amounts receivable | 41 | €2,998 | €5,449 | +€2,451 | +81.8% |
| Cash at bank and in hand | 54/58 | €329,550 | €387,788 | +€58,238 | +17.7% |
| Deferred charges and accrued income | 490/1 | €582 | - | -€582 | |
| Total equity and liabilities | 10/49 | €647,850 | €683,631 | +€35,781 | +5.5% |
| Equity | 10/15 | €414,216 | €428,980 | +€14,764 | +3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €392,322 | €406,883 | +€14,561 | +3.7% |
| Distributable reserves | 133 | €392,322 | €406,883 | +€14,561 | +3.7% |
| Profit (loss) carried forward | 14 | €3,294 | €3,497 | +€203 | +6.2% |
| Amounts payable | 17/49 | €233,634 | €254,651 | +€21,017 | +9.0% |
| Amounts payable after more than one year | 17 | €192,703 | €171,615 | -€21,088 | -10.9% |
| Financial debts | 170/4 | €192,703 | €171,615 | -€21,088 | -10.9% |
| Amounts payable within one year | 42/48 | €40,931 | €83,035 | +€42,104 | +103% |
| Current portion of amounts payable after more than one year | 42 | €20,255 | €21,088 | +€833 | +4.1% |
| Trade debts | 44 | - | €3,797 | +€3,797 | |
| Suppliers | 440/4 | - | €3,797 | +€3,797 | |
| Taxes, remuneration and social security | 45 | €16,050 | €19,019 | +€2,969 | +18.5% |
| Taxes | 450/3 | €16,050 | €15,769 | -€281 | -1.8% |
| Remuneration and social security | 454/9 | - | €3,250 | +€3,250 | |
| Other amounts payable | 47/48 | €4,626 | €39,131 | +€34,505 | +746% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,783 | €8,232 | +€1,449 | +21.4% |
| Other operating charges | 640/8 | - | €1,943 | +€1,943 | |
| Non-recurring operating charges | 66A | €1,097 | - | -€1,097 | |
| Gross operating margin | 9900 | €138,120 | €94,286 | -€43,834 | -31.7% |
| Operating profit (loss) | 9901 | €130,240 | €84,110 | -€46,130 | -35.4% |
| Financial income | 75/76B | - | €3,882 | +€3,882 | |
| Recurring financial income | 75 | - | €3,882 | +€3,882 | |
| Financial charges | 65/66B | €11,674 | €12,374 | +€700 | +6.0% |
| Recurring financial charges | 65 | €11,674 | €12,374 | +€700 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €118,566 | €75,618 | -€42,948 | -36.2% |
| Income taxes | 67/77 | €32,394 | €26,665 | -€5,729 | -17.7% |
| Profit (loss) for the period | 9904 | €86,172 | €48,953 | -€37,219 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €86,172 | €48,953 | -€37,219 | -43.2% |
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 26 October 2026 via checked.be.