WILLEMEN GLOBAL: what changed
What changed
WILLEMEN GLOBAL
NACE 43.421, Specialised construction activities
filed annual accounts (NBB)
Net result for the year
-€98,220
2024 · -€1.2m+€1.1m
Equity
€1.3m
2024 · €1.4m-€98,220
Cash
€5,850
2024 · €3,652+€2,199
Balance sheet total
€2.0m
2024 · €2.4m-€445,117
Largest movements
Assets
- Intangible fixed assets -€485,884
down €485,884 (-60.7%), from €800,099 to €314,216
- Receivables within one year +€38,981
up €38,981 (+2.6%), from €1.5m to €1.5m
of which Other amounts receivable: +€68,606
Equity and liabilities
- Other debts -€338,154
down €338,154 (-34.7%), from €974,888 to €636,735
- Profit (loss) carried forward -€98,220
down €98,220 (-0.8%), from -€12.2m to -€12.3m
Income statement
- Depreciation -€932,615
down €932,615 (-65.7%), from €1.4m to €485,884
- Gross operating margin +€192,974
up €192,974 (+54.9%), from €351,310 to €544,284
- Financial charges -€11,898
down €11,898 (-27.1%), from €43,888 to €31,990
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€1.2m
Gross operating margin
+€192,974
Staff costs
-€3,364
Depreciation
+€932,615
Other operating charges
-€2,031
Financial income
+€1,585
Financial charges
+€11,898
Taxes
-€4
Result 2025
-€98,220
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2,199
Investment
€0
Financing
€0
Cash 2024
€3,652
From operations (derived)
+€2,199
Net result for the year
-€98,220
Depreciation
+€485,884
Receivables within one year
-€38,981
Smaller working-capital items
+€257
Trade debts
-€5,873
Tax, wage and social debts
-€2,715
Other debts
-€338,154
Cash 2025
€5,850
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,407,314 | €1,962,198 | -€445,117 | -18.5% |
| Fixed assets | 21/28 | €919,498 | €433,614 | -€485,884 | -52.8% |
| Intangible fixed assets | 21 | €800,099 | €314,216 | -€485,884 | -60.7% |
| Financial fixed assets | 28 | €119,398 | €119,398 | = | 0.0% |
| Current assets | 29/58 | €1,487,816 | €1,528,583 | +€40,767 | +2.7% |
| Amounts receivable within one year | 40/41 | €1,483,052 | €1,522,033 | +€38,981 | +2.6% |
| Trade receivables | 40 | €673,764 | €644,140 | -€29,625 | -4.4% |
| Other amounts receivable | 41 | €809,288 | €877,894 | +€68,606 | +8.5% |
| Cash at bank and in hand | 54/58 | €3,652 | €5,850 | +€2,199 | +60.2% |
| Deferred charges and accrued income | 490/1 | €1,112 | €700 | -€412 | -37.1% |
| Total equity and liabilities | 10/49 | €2,407,314 | €1,962,198 | -€445,117 | -18.5% |
| Equity | 10/15 | €1,385,403 | €1,287,183 | -€98,220 | -7.1% |
| Contributions | 10/11 | €13,559,777 | €13,559,777 | = | 0.0% |
| Capital | 10 | €13,559,777 | €13,559,777 | = | 0.0% |
| Issued capital | 100 | €13,559,777 | €13,559,777 | = | 0.0% |
| Reserves | 13 | €775 | €775 | = | 0.0% |
| Non-distributable reserves | 130/1 | €775 | €775 | = | 0.0% |
| Legal reserve | 130 | €775 | €775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,175,148 | -€12,273,368 | -€98,220 | -0.8% |
| Amounts payable | 17/49 | €1,021,911 | €675,014 | -€346,897 | -33.9% |
| Amounts payable within one year | 42/48 | €1,021,749 | €675,007 | -€346,742 | -33.9% |
| Trade debts | 44 | €19,127 | €13,254 | -€5,873 | -30.7% |
| Suppliers | 440/4 | €19,127 | €13,254 | -€5,873 | -30.7% |
| Taxes, remuneration and social security | 45 | €27,733 | €25,018 | -€2,715 | -9.8% |
| Taxes | 450/3 | €2,878 | €1,352 | -€1,526 | -53.0% |
| Remuneration and social security | 454/9 | €24,856 | €23,666 | -€1,190 | -4.8% |
| Other amounts payable | 47/48 | €974,888 | €636,735 | -€338,154 | -34.7% |
| Accrued charges and deferred income | 492/3 | €162 | €7 | -€155 | -95.4% |
| Non-recurring operating income | 76A | €207,281 | €389,656 | +€182,375 | +88.0% |
| Remuneration, social security and pensions | 62 | €143,217 | €146,581 | +€3,364 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,418,498 | €485,884 | -€932,615 | -65.7% |
| Other operating charges | 640/8 | €148 | €2,179 | +€2,031 | +1,372% |
| Gross operating margin | 9900 | €351,310 | €544,284 | +€192,974 | +54.9% |
| Operating profit (loss) | 9901 | -€1,210,553 | -€90,359 | +€1.1m | +92.5% |
| Financial income | 75/76B | €22,988 | €24,573 | +€1,585 | +6.9% |
| Recurring financial income | 75 | €22,988 | €24,573 | +€1,585 | +6.9% |
| Financial charges | 65/66B | €43,888 | €31,990 | -€11,898 | -27.1% |
| Recurring financial charges | 65 | €43,888 | €31,990 | -€11,898 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,231,454 | -€97,775 | +€1.1m | +92.1% |
| Income taxes | 67/77 | €440 | €444 | +€4 | +1.0% |
| Profit (loss) for the period | 9904 | -€1,231,894 | -€98,220 | +€1.1m | +92.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,231,894 | -€98,220 | +€1.1m | +92.0% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.