WILLEM: 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.
WILLEM
Largest movements
- Cash +€37,023
up €37,023 (+261.3%), from €14,167 to €51,190
mainly Net result for the year (+€43,985) and Other debts (+€40,323)
- Tangible fixed assets -€13,848
down €13,848 (-2.9%), from €472,887 to €459,039
of which Land and buildings: -€12,815
- Receivables after one year +€11,740
up €11,740 (+106.7%), from €11,000 to €22,740
- Other debts +€40,323
up €40,323 (+8722.2%), from €462 to €40,785
- Reserves +€15,000
up €15,000 (+17.6%), from €85,300 to €100,300
of which Distributable reserves: +€15,000
- Profit (loss) carried forward -€11,015
down €11,015 (-95.7%), from €11,506 to €491
- Tax, wage and social debts -€5,412
down €5,412 (-29.2%), from €18,550 to €13,138
- Gross operating margin +€4,236
up €4,236 (+4.3%), from €98,961 to €103,197
- Financial charges -€1,162
down €1,162 (-7.0%), from €16,571 to €15,409
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 | €498,054 | €533,908 | +€35,854 | +7.2% |
| Fixed assets | 21/28 | €472,887 | €459,039 | -€13,848 | -2.9% |
| Tangible fixed assets | 22/27 | €472,887 | €459,039 | -€13,848 | -2.9% |
| Land and buildings | 22 | €468,753 | €455,938 | -€12,815 | -2.7% |
| Furniture and vehicles | 24 | €4,134 | €3,100 | -€1,034 | -25.0% |
| Current assets | 29/58 | €25,167 | €74,870 | +€49,703 | +197.5% |
| Amounts receivable after more than one year | 29 | €11,000 | €22,740 | +€11,740 | +106.7% |
| Other amounts receivable | 291 | €11,000 | €22,740 | +€11,740 | +106.7% |
| Cash at bank and in hand | 54/58 | €14,167 | €51,190 | +€37,023 | +261.3% |
| Deferred charges and accrued income | 490/1 | - | €940 | +€940 | |
| Total equity and liabilities | 10/49 | €498,054 | €533,908 | +€35,854 | +7.2% |
| Equity | 10/15 | €191,806 | €195,791 | +€3,985 | +2.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €85,300 | €100,300 | +€15,000 | +17.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €83,300 | €98,300 | +€15,000 | +18.0% |
| Profit (loss) carried forward | 14 | €11,506 | €491 | -€11,015 | -95.7% |
| Amounts payable | 17/49 | €306,248 | €338,117 | +€31,869 | +10.4% |
| Amounts payable after more than one year | 17 | €252,200 | €248,432 | -€3,768 | -1.5% |
| Financial debts | 170/4 | €62,200 | €46,932 | -€15,268 | -24.5% |
| Other amounts payable | 178/9 | €190,000 | €201,500 | +€11,500 | +6.1% |
| Amounts payable within one year | 42/48 | €40,088 | €74,573 | +€34,485 | +86.0% |
| Current portion of amounts payable after more than one year | 42 | €15,083 | €15,268 | +€185 | +1.2% |
| Financial debts | 43 | €4,396 | €5,383 | +€987 | +22.5% |
| Credit institutions | 430/8 | €4,396 | €5,383 | +€987 | +22.5% |
| Trade debts | 44 | €1,597 | - | -€1,597 | |
| Suppliers | 440/4 | €1,597 | - | -€1,597 | |
| Taxes, remuneration and social security | 45 | €18,550 | €13,138 | -€5,412 | -29.2% |
| Taxes | 450/3 | €18,550 | €13,138 | -€5,412 | -29.2% |
| Other amounts payable | 47/48 | €462 | €40,785 | +€40,323 | +8722.2% |
| Accrued charges and deferred income | 492/3 | €13,960 | €15,112 | +€1,152 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,848 | €13,848 | = | 0.0% |
| Other operating charges | 640/8 | €12,942 | €12,307 | -€634 | -4.9% |
| Gross operating margin | 9900 | €98,961 | €103,197 | +€4,236 | +4.3% |
| Operating profit (loss) | 9901 | €72,171 | €77,041 | +€4,871 | +6.7% |
| Financial income | 75/76B | €371 | €1,028 | +€657 | +177.1% |
| Recurring financial income | 75 | €371 | €1,028 | +€657 | +177.1% |
| Financial charges | 65/66B | €16,571 | €15,409 | -€1,162 | -7.0% |
| Recurring financial charges | 65 | €16,571 | €15,409 | -€1,162 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €55,971 | €62,661 | +€6,689 | +12.0% |
| Income taxes | 67/77 | €18,797 | €18,676 | -€122 | -0.6% |
| Profit (loss) for the period | 9904 | €37,174 | €43,985 | +€6,811 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,174 | €43,985 | +€6,811 | +18.3% |
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 7 October 2026 via checked.be.