WILLAME MANAGEMENT: 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.
WILLAME MANAGEMENT
Largest movements
- Receivables within one year +€90,471
up €90,471 (+543.0%), from €16,663 to €107,133
of which Trade receivables: +€69,759
- Tangible fixed assets -€51,397
down €51,397 (-11.2%), from €458,666 to €407,269
of which Land and buildings: -€41,406
- Stocks and contracts -€30,777
down €30,777 (-41.8%), from €73,591 to €42,814
- Cash +€10,701
up €10,701 (+240.4%), from €4,451 to €15,153
- Deferred charges and accrued income -€9,190
down €9,190 (-78.6%), from €11,699 to €2,509
- Debts after one year -€66,372
down €66,372 (-12.2%), from €544,678 to €478,306
of which Financial debts: -€66,372
- Trade debts +€61,894
up €61,894 (+984.2%), from €6,289 to €68,183
- Tax, wage and social debts +€21,579
up €21,579 (+276.6%), from €7,802 to €29,381
- Reserves +€10,538
new in 2025: €10,538
- Other debts -€9,868
down €9,868 (-100.0%), from €9,868 to €0
- Gross operating margin +€90,070
up €90,070, from -€23,990 to €66,080
- Write-downs +€20,899
no longer reported in 2025 (was -€20,899)
- Depreciation +€6,587
up €6,587 (+27.7%), from €23,776 to €30,363
- Other operating charges -€5,759
down €5,759 (-47.6%), from €12,091 to €6,332
- Provisions +€2,200
no longer reported in 2025 (was -€2,200)
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €566,681 | €575,914 | +€9,233 | +1.6% |
| Fixed assets | 21/28 | €460,277 | €408,304 | -€51,972 | -11.3% |
| Intangible fixed assets | 21 | €911 | €336 | -€575 | -63.1% |
| Tangible fixed assets | 22/27 | €458,666 | €407,269 | -€51,397 | -11.2% |
| Land and buildings | 22 | €411,554 | €370,148 | -€41,406 | -10.1% |
| Plant, machinery and equipment | 23 | €40,031 | €30,640 | -€9,390 | -23.5% |
| Furniture and vehicles | 24 | €7,081 | €6,481 | -€601 | -8.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €106,404 | €167,609 | +€61,205 | +57.5% |
| Stocks and contracts in progress | 3 | €73,591 | €42,814 | -€30,777 | -41.8% |
| Stocks | 30/36 | €73,591 | €42,814 | -€30,777 | -41.8% |
| Amounts receivable within one year | 40/41 | €16,663 | €107,133 | +€90,471 | +543.0% |
| Trade receivables | 40 | €8,257 | €78,016 | +€69,759 | +844.9% |
| Other amounts receivable | 41 | €8,406 | €29,118 | +€20,712 | +246.4% |
| Cash at bank and in hand | 54/58 | €4,451 | €15,153 | +€10,701 | +240.4% |
| Deferred charges and accrued income | 490/1 | €11,699 | €2,509 | -€9,190 | -78.6% |
| Total equity and liabilities | 10/49 | €566,681 | €575,914 | +€9,233 | +1.6% |
| Equity | 10/15 | -€54,994 | -€48,554 | +€6,439 | +11.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | - | €10,538 | +€10,538 | |
| Distributable reserves | 133 | - | €10,538 | +€10,538 | |
| Profit (loss) carried forward | 14 | -€67,394 | -€71,492 | -€4,098 | -6.1% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €621,674 | €624,468 | +€2,794 | +0.4% |
| Amounts payable after more than one year | 17 | €544,678 | €478,306 | -€66,372 | -12.2% |
| Financial debts | 170/4 | €369,678 | €303,306 | -€66,372 | -18.0% |
| Other amounts payable | 178/9 | €175,000 | €175,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €66,138 | €134,239 | +€68,101 | +103.0% |
| Current portion of amounts payable after more than one year | 42 | €32,680 | €36,676 | +€3,996 | +12.2% |
| Trade debts | 44 | €6,289 | €68,183 | +€61,894 | +984.2% |
| Suppliers | 440/4 | €6,289 | €68,183 | +€61,894 | +984.2% |
| Advances received on contracts in progress | 46 | €9,500 | - | -€9,500 | |
| Taxes, remuneration and social security | 45 | €7,802 | €29,381 | +€21,579 | +276.6% |
| Taxes | 450/3 | €7,802 | €29,381 | +€21,579 | +276.6% |
| Other amounts payable | 47/48 | €9,868 | €0 | -€9,868 | -100.0% |
| Accrued charges and deferred income | 492/3 | €10,858 | €11,923 | +€1,065 | +9.8% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,776 | €30,363 | +€6,587 | +27.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€20,899 | - | +€20,899 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,200 | - | +€2,200 | |
| Other operating charges | 640/8 | €12,091 | €6,332 | -€5,759 | -47.6% |
| Non-recurring operating charges | 66A | €700 | €0 | -€700 | -100.0% |
| Gross operating margin | 9900 | -€23,990 | €66,080 | +€90,070 | |
| Operating profit (loss) | 9901 | -€37,457 | €29,385 | +€66,842 | |
| Financial income | 75/76B | €161 | €0 | -€161 | -100.0% |
| Recurring financial income | 75 | €161 | €0 | -€161 | -100.0% |
| Financial charges | 65/66B | €12,601 | €10,566 | -€2,034 | -16.1% |
| Recurring financial charges | 65 | €12,601 | €10,566 | -€2,034 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | -€49,897 | €18,819 | +€68,716 | |
| Income taxes | 67/77 | €303 | €377 | +€74 | +24.5% |
| Profit (loss) for the period | 9904 | -€50,200 | €18,442 | +€68,642 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,200 | €18,442 | +€68,642 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.