Willems: 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.
What changed
Willems
NACE 46.869, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€52,350
2024 · €130,273-€77,923
Equity
€6.3m
2024 · €6.4m-€47,650
Cash
€923,657
2024 · €951,182-€27,525
Balance sheet total
€13.1m
2024 · €13.0m+€123,452
Largest movements
Assets
- Stocks and contracts +€744,936
up €744,936 (+51.3%), from €1.5m to €2.2m
- Receivables after one year -€400,000
down €400,000 (-5.7%), from €7.1m to €6.7m
- Deferred charges and accrued income -€288,761
down €288,761 (-97.7%), from €295,608 to €6,847
Equity and liabilities
- Trade debts +€277,413
up €277,413 (+35.4%), from €783,048 to €1.1m
- Debts after one year -€257,686
down €257,686 (-6.6%), from €3.9m to €3.7m
Income statement
- Staff costs +€210,951
up €210,951 (+11.2%), from €1.9m to €2.1m
- Gross operating margin +€152,577
up €152,577 (+5.5%), from €2.8m to €2.9m
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.
Result 2024
€130,273
Gross operating margin
+€152,577
Staff costs
-€210,951
Depreciation
-€17,294
Other operating charges
-€4,456
Financial income
+€8,079
Financial charges
+€514
Taxes
-€6,393
Result 2025
€52,350
raises the resultlowers the result
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.
From operations
+€959,594
Investment
-€706,126
Financing
-€280,994
Cash 2024
€951,182
From operations (derived)
+€959,594
Net result for the year
+€52,350
Depreciation
+€577,951
Receivables after one year
+€400,000
Stocks and contracts
-€744,936
Receivables within one year
+€33,372
Deferred charges and accrued income
+€288,761
Trade debts
+€277,413
Tax, wage and social debts
+€74,682
Investment (derived)
-€706,126
Investment in fixed assets (net)
-€706,126
Financing
-€280,994
Debts after one year
-€257,686
Current portion of long-term debt
+€76,693
Contributions, distributions and other
-€100,000
Cash 2025
€923,657
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,990,632 | €13,114,084 | +€123,452 | +1.0% |
| Fixed assets | 21/28 | €1,581,319 | €1,709,494 | +€128,175 | +8.1% |
| Tangible fixed assets | 22/27 | €1,513,343 | €1,639,073 | +€125,730 | +8.3% |
| Land and buildings | 22 | €194,346 | €203,689 | +€9,343 | +4.8% |
| Plant, machinery and equipment | 23 | €835,618 | €846,185 | +€10,567 | +1.3% |
| Furniture and vehicles | 24 | €434,020 | €551,145 | +€117,125 | +27.0% |
| Leasing and similar rights | 25 | €49,359 | €38,054 | -€11,305 | -22.9% |
| Financial fixed assets | 28 | €67,976 | €70,421 | +€2,445 | +3.6% |
| Current assets | 29/58 | €11,409,313 | €11,404,591 | -€4,723 | 0.0% |
| Amounts receivable after more than one year | 29 | €7,050,000 | €6,650,000 | -€400,000 | -5.7% |
| Other amounts receivable | 291 | €7,050,000 | €6,650,000 | -€400,000 | -5.7% |
| Stocks and contracts in progress | 3 | €1,453,068 | €2,198,004 | +€744,936 | +51.3% |
| Stocks | 30/36 | €1,453,068 | €2,198,004 | +€744,936 | +51.3% |
| Amounts receivable within one year | 40/41 | €1,659,455 | €1,626,083 | -€33,372 | -2.0% |
| Trade receivables | 40 | €1,468,678 | €669,869 | -€798,809 | -54.4% |
| Other amounts receivable | 41 | €190,777 | €956,214 | +€765,437 | +401% |
| Cash at bank and in hand | 54/58 | €951,182 | €923,657 | -€27,525 | -2.9% |
| Deferred charges and accrued income | 490/1 | €295,608 | €6,847 | -€288,761 | -97.7% |
| Total equity and liabilities | 10/49 | €12,990,632 | €13,114,084 | +€123,452 | +1.0% |
| Equity | 10/15 | €6,385,241 | €6,337,591 | -€47,650 | -0.7% |
| Contributions | 10/11 | €130,138 | €130,138 | = | 0.0% |
| Capital | 10 | €130,138 | €130,138 | = | 0.0% |
| Issued capital | 100 | €130,138 | €130,138 | = | 0.0% |
| Reserves | 13 | €6,124,829 | €6,155,103 | +€30,273 | +0.5% |
| Non-distributable reserves | 130/1 | €20,451 | €20,451 | = | 0.0% |
| Legal reserve | 130 | €20,451 | €20,451 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,432,014 | €1,432,014 | = | 0.0% |
| Distributable reserves | 133 | €4,672,364 | €4,702,638 | +€30,273 | +0.6% |
| Profit (loss) carried forward | 14 | €130,273 | €52,350 | -€77,923 | -59.8% |
| Amounts payable | 17/49 | €6,605,392 | €6,776,494 | +€171,102 | +2.6% |
| Amounts payable after more than one year | 17 | €3,911,707 | €3,654,021 | -€257,686 | -6.6% |
| Financial debts | 170/4 | €3,911,707 | €3,654,021 | -€257,686 | -6.6% |
| Amounts payable within one year | 42/48 | €2,689,606 | €3,118,395 | +€428,788 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €498,944 | €575,637 | +€76,693 | +15.4% |
| Financial debts | 43 | €1,250,000 | €1,250,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,250,000 | €1,250,000 | = | 0.0% |
| Trade debts | 44 | €783,048 | €1,060,461 | +€277,413 | +35.4% |
| Suppliers | 440/4 | €783,048 | €1,060,461 | +€277,413 | +35.4% |
| Taxes, remuneration and social security | 45 | €157,614 | €232,296 | +€74,682 | +47.4% |
| Taxes | 450/3 | €3,140 | €17,916 | +€14,776 | +471% |
| Remuneration and social security | 454/9 | €154,474 | €214,381 | +€59,907 | +38.8% |
| Accrued charges and deferred income | 492/3 | €4,078 | €4,078 | = | 0.0% |
| Non-recurring operating income | 76A | - | €11,943 | +€11,943 | |
| Remuneration, social security and pensions | 62 | €1,882,078 | €2,093,028 | +€210,951 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €560,657 | €577,951 | +€17,294 | +3.1% |
| Other operating charges | 640/8 | €52,133 | €56,589 | +€4,456 | +8.5% |
| Gross operating margin | 9900 | €2,771,088 | €2,923,666 | +€152,577 | +5.5% |
| Operating profit (loss) | 9901 | €276,221 | €196,098 | -€80,123 | -29.0% |
| Financial income | 75/76B | €2,763 | €10,842 | +€8,079 | +292% |
| Recurring financial income | 75 | €2,763 | €10,842 | +€8,079 | +292% |
| Financial charges | 65/66B | €148,523 | €148,009 | -€514 | -0.3% |
| Recurring financial charges | 65 | €148,523 | €148,009 | -€514 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €130,461 | €58,930 | -€71,531 | -54.8% |
| Income taxes | 67/77 | €187 | €6,580 | +€6,393 | +3,411% |
| Profit (loss) for the period | 9904 | €130,273 | €52,350 | -€77,923 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €130,273 | €52,350 | -€77,923 | -59.8% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.