WILLEM DETHIER: 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 DETHIER
Largest movements
- Cash +€44,277
up €44,277 (+122%), from €36,290 to €80,567
mainly Net result for the year (+€28,808) and Tax, wage and social debts (+€12,154)
- Tangible fixed assets -€10,856
down €10,856 (-25.2%), from €43,050 to €32,194
of which Land and buildings: -€8,073
- Stocks and contracts -€1,623
down €1,623 (-14.6%), from €11,106 to €9,483
- Reserves +€28,808
up €28,808 (+167%), from €17,270 to €46,079
- Tax, wage and social debts +€12,154
up €12,154 (+717%), from €1,694 to €13,848
- Profit (loss) carried forward -€7,868
down €7,868 (-10.8%), from €73,142 to €65,274
- Trade debts +€1,897
up €1,897 (+1,175%), from €162 to €2,059
- Other debts -€1,719
down €1,719 (-17.9%), from €9,587 to €7,868
- Gross operating margin +€53,204
up €53,204 (+922%), from €5,770 to €58,975
- Taxes +€15,608
up €15,608, from -€977 to €14,631
- Write-downs +€10,807
no longer reported in 2025 (was -€10,807)
- Financial charges -€1,009
down €1,009 (-78.0%), from €1,293 to €284
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 | €114,643 | €145,357 | +€30,714 | +26.8% |
| Fixed assets | 21/28 | €44,156 | €32,755 | -€11,401 | -25.8% |
| Intangible fixed assets | 21 | €1,106 | €561 | -€545 | -49.3% |
| Tangible fixed assets | 22/27 | €43,050 | €32,194 | -€10,856 | -25.2% |
| Land and buildings | 22 | €26,114 | €18,041 | -€8,073 | -30.9% |
| Plant, machinery and equipment | 23 | €2,294 | €1,644 | -€649 | -28.3% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €14,643 | €12,509 | -€2,134 | -14.6% |
| Current assets | 29/58 | €70,487 | €112,602 | +€42,115 | +59.7% |
| Stocks and contracts in progress | 3 | €11,106 | €9,483 | -€1,623 | -14.6% |
| Stocks | 30/36 | €11,106 | €9,483 | -€1,623 | -14.6% |
| Amounts receivable within one year | 40/41 | €19,689 | €19,093 | -€596 | -3.0% |
| Trade receivables | 40 | €19,689 | €13,585 | -€6,104 | -31.0% |
| Other amounts receivable | 41 | €0 | €5,508 | +€5,508 | |
| Current investments | 50/53 | €1,750 | €1,750 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,290 | €80,567 | +€44,277 | +122% |
| Deferred charges and accrued income | 490/1 | €1,652 | €1,708 | +€56 | +3.4% |
| Total equity and liabilities | 10/49 | €114,643 | €145,357 | +€30,714 | +26.8% |
| Equity | 10/15 | €98,917 | €119,857 | +€20,940 | +21.2% |
| Contributions | 10/11 | €8,505 | €8,505 | = | 0.0% |
| Reserves | 13 | €17,270 | €46,079 | +€28,808 | +167% |
| Distributable reserves | 133 | €17,270 | €46,079 | +€28,808 | +167% |
| Profit (loss) carried forward | 14 | €73,142 | €65,274 | -€7,868 | -10.8% |
| Amounts payable | 17/49 | €15,726 | €25,500 | +€9,774 | +62.2% |
| Amounts payable after more than one year | 17 | €1,725 | €251 | -€1,473 | -85.4% |
| Financial debts | 170/4 | €1,725 | €251 | -€1,473 | -85.4% |
| Amounts payable within one year | 42/48 | €14,001 | €25,248 | +€11,247 | +80.3% |
| Current portion of amounts payable after more than one year | 42 | €2,558 | €1,473 | -€1,085 | -42.4% |
| Trade debts | 44 | €162 | €2,059 | +€1,897 | +1,175% |
| Suppliers | 440/4 | €162 | €2,059 | +€1,897 | +1,175% |
| Taxes, remuneration and social security | 45 | €1,694 | €13,848 | +€12,154 | +717% |
| Taxes | 450/3 | €1,694 | €13,848 | +€12,154 | +717% |
| Other amounts payable | 47/48 | €9,587 | €7,868 | -€1,719 | -17.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,401 | €11,401 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,807 | - | +€10,807 | |
| Other operating charges | 640/8 | €3,653 | €3,856 | +€202 | +5.5% |
| Gross operating margin | 9900 | €5,770 | €58,975 | +€53,204 | +922% |
| Operating profit (loss) | 9901 | €1,523 | €43,718 | +€42,195 | +2,771% |
| Financial income | 75/76B | €420 | €5 | -€415 | -98.7% |
| Recurring financial income | 75 | €420 | €5 | -€415 | -98.7% |
| Financial charges | 65/66B | €1,293 | €284 | -€1,009 | -78.0% |
| Recurring financial charges | 65 | €1,293 | €284 | -€1,009 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | €650 | €43,439 | +€42,789 | +6,584% |
| Income taxes | 67/77 | -€977 | €14,631 | +€15,608 | |
| Profit (loss) for the period | 9904 | €1,627 | €28,808 | +€27,182 | +1,671% |
| Profit (loss) for the period to be appropriated | 9905 | €1,627 | €28,808 | +€27,182 | +1,671% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.