Willem: 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.
Willem
Largest movements
- Current investments -€610,693
down €610,693 (-64.1%), from €953,415 to €342,722
- Cash +€225,738
up €225,738 (+222%), from €101,833 to €327,571
mainly Current investments (+€610,693) and Other debts (+€377,657)
- Receivables within one year +€40,531
up €40,531 (+19.6%), from €206,475 to €247,006
of which Trade receivables: +€42,722
- Profit (loss) carried forward -€683,963
down €683,963 (-65.3%), from €1.0m to €363,235
- Other debts +€377,657
new in 2025: €377,657
- Tax, wage and social debts -€46,919
down €46,919 (-20.3%), from €230,981 to €184,062
- Gross operating margin +€20,726
up €20,726 (+5.1%), from €408,406 to €429,132
- Financial income +€14,755
up €14,755 (+109%), from €13,565 to €28,320
- Taxes +€7,878
up €7,878 (+8.0%), from €98,473 to €106,351
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 | €1,286,380 | €932,881 | -€353,499 | -27.5% |
| Fixed assets | 21/28 | €16,403 | €8,170 | -€8,233 | -50.2% |
| Tangible fixed assets | 22/27 | €16,403 | €8,170 | -€8,233 | -50.2% |
| Plant, machinery and equipment | 23 | - | €1,630 | +€1,630 | |
| Furniture and vehicles | 24 | €16,403 | €6,540 | -€9,863 | -60.1% |
| Current assets | 29/58 | €1,269,977 | €924,711 | -€345,265 | -27.2% |
| Amounts receivable within one year | 40/41 | €206,475 | €247,006 | +€40,531 | +19.6% |
| Trade receivables | 40 | €204,284 | €247,006 | +€42,722 | +20.9% |
| Other amounts receivable | 41 | €2,192 | - | -€2,192 | |
| Current investments | 50/53 | €953,415 | €342,722 | -€610,693 | -64.1% |
| Cash at bank and in hand | 54/58 | €101,833 | €327,571 | +€225,738 | +222% |
| Deferred charges and accrued income | 490/1 | €8,253 | €7,412 | -€841 | -10.2% |
| Total equity and liabilities | 10/49 | €1,286,380 | €932,881 | -€353,499 | -27.5% |
| Equity | 10/15 | €1,052,198 | €368,235 | -€683,963 | -65.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,047,198 | €363,235 | -€683,963 | -65.3% |
| Amounts payable | 17/49 | €234,181 | €564,646 | +€330,464 | +141% |
| Amounts payable within one year | 42/48 | €234,181 | €564,646 | +€330,464 | +141% |
| Trade debts | 44 | €3,201 | €2,926 | -€274 | -8.6% |
| Suppliers | 440/4 | €3,201 | €2,926 | -€274 | -8.6% |
| Taxes, remuneration and social security | 45 | €230,981 | €184,062 | -€46,919 | -20.3% |
| Taxes | 450/3 | €230,981 | €184,062 | -€46,919 | -20.3% |
| Other amounts payable | 47/48 | - | €377,657 | +€377,657 | |
| Non-recurring operating income | 76A | €61 | €6,956 | +€6,896 | +11,356% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,863 | €10,250 | +€387 | +3.9% |
| Other operating charges | 640/8 | €930 | €3,169 | +€2,239 | +241% |
| Non-recurring operating charges | 66A | - | €2,134 | +€2,134 | |
| Gross operating margin | 9900 | €408,406 | €429,132 | +€20,726 | +5.1% |
| Operating profit (loss) | 9901 | €397,613 | €413,579 | +€15,966 | +4.0% |
| Financial income | 75/76B | €13,565 | €28,320 | +€14,755 | +109% |
| Recurring financial income | 75 | €13,565 | €28,320 | +€14,755 | +109% |
| Financial charges | 65/66B | €2,398 | €1,751 | -€648 | -27.0% |
| Recurring financial charges | 65 | €2,398 | €1,751 | -€648 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €408,779 | €440,148 | +€31,369 | +7.7% |
| Income taxes | 67/77 | €98,473 | €106,351 | +€7,878 | +8.0% |
| Profit (loss) for the period | 9904 | €310,306 | €333,797 | +€23,491 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €310,306 | €333,797 | +€23,491 | +7.6% |
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 19 October 2026 via checked.be.