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 43.990, Other specialised construction activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€17,085
2024 · €4,755-€21,840
Equity
€1.3m
2024 · €1.3m-€17,085
Cash
€1.2m
2024 · €1.1m+€75,068
Balance sheet total
€8.5m
2024 · €8.4m+€98,370
Largest movements
Assets
- Stocks and contracts +€477,559
up €477,559 (+12.4%), from €3.9m to €4.3m
of which Contracts in progress: +€327,686
- Tangible fixed assets -€434,717
down €434,717 (-20.3%), from €2.1m to €1.7m
of which Plant, machinery and equipment: -€259,434
Equity and liabilities
- Trade debts -€203,094
down €203,094 (-11.4%), from €1.8m to €1.6m
- Other debts +€128,804
up €128,804 (+29.2%), from €441,783 to €570,587
Income statement
- Turnover -€2.5m
down €2.5m (-8.6%), from €28.7m to €26.3m
- Goods and materials -€701,608
down €701,608 (-5.3%), from €13.2m to €12.5m
of which Change in stocks: decrease (increase): -€438,704
- Services and other goods -€473,206
down €473,206 (-5.2%), from €9.1m to €8.6m
- Staff costs -€404,579
down €404,579 (-7.2%), from €5.6m to €5.2m
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
€4,755
Turnover
-€2.5m
Other operating income
-€38,556
Goods and materials
+€701,608
Services and other goods
+€473,206
Staff costs
+€404,579
Depreciation
+€170,485
Other operating charges
-€1,248
Other operating items
+€725,912
Financial income
-€5,385
Financial charges
-€2,790
Taxes
+€21,648
Result 2025
-€17,085
raises the resultlowers the resultnot broken down further in the accounts
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
+€322,977
Investment
-€330,059
Financing
+€82,150
Cash 2024
€1.1m
From operations (derived)
+€322,977
Net result for the year
-€17,085
Depreciation
+€768,968
Smaller working-capital items
-€443
Stocks and contracts
-€477,559
Deferred charges and accrued income
+€16,315
Trade debts
-€203,094
Tax, wage and social debts
+€63,290
Advances received
+€43,781
Other debts
+€128,804
Investment (derived)
-€330,059
Investment in fixed assets (net)
-€330,059
Financing
+€82,150
Debts after one year
+€77,332
Current portion of long-term debt
-€11,763
Short-term financial debts
+€16,581
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,360,133 | €8,458,503 | +€98,370 | +1.2% |
| Fixed assets | 21/28 | €2,241,673 | €1,802,764 | -€438,909 | -19.6% |
| Intangible fixed assets | 21 | €7,846 | €4,024 | -€3,822 | -48.7% |
| Tangible fixed assets | 22/27 | €2,145,390 | €1,710,673 | -€434,717 | -20.3% |
| Land and buildings | 22 | €353,733 | €298,887 | -€54,846 | -15.5% |
| Plant, machinery and equipment | 23 | €859,586 | €600,152 | -€259,434 | -30.2% |
| Furniture and vehicles | 24 | €551,811 | €369,102 | -€182,709 | -33.1% |
| Leasing and similar rights | 25 | €380,260 | €442,532 | +€62,272 | +16.4% |
| Financial fixed assets | 28 | €88,437 | €88,067 | -€370 | -0.4% |
| Other financial fixed assets | 284/8 | €88,437 | €88,067 | -€370 | -0.4% |
| Amounts receivable and cash guarantees | 285/8 | €88,437 | €88,067 | -€370 | -0.4% |
| Current assets | 29/58 | €6,118,460 | €6,655,739 | +€537,279 | +8.8% |
| Amounts receivable after more than one year | 29 | €65,733 | €65,095 | -€638 | -1.0% |
| Other amounts receivable | 291 | €65,733 | €65,095 | -€638 | -1.0% |
| Stocks and contracts in progress | 3 | €3,851,360 | €4,328,919 | +€477,559 | +12.4% |
| Stocks | 30/36 | €2,692,167 | €2,842,040 | +€149,873 | +5.6% |
| Raw materials and consumables | 30/31 | €2,692,167 | €2,842,040 | +€149,873 | +5.6% |
| Contracts in progress | 37 | €1,159,193 | €1,486,879 | +€327,686 | +28.3% |
| Amounts receivable within one year | 40/41 | €792,136 | €793,741 | +€1,605 | +0.2% |
| Trade receivables | 40 | €599,894 | €547,959 | -€51,935 | -8.7% |
| Other amounts receivable | 41 | €192,242 | €245,782 | +€53,540 | +27.9% |
| Cash at bank and in hand | 54/58 | €1,118,642 | €1,193,710 | +€75,068 | +6.7% |
| Deferred charges and accrued income | 490/1 | €290,589 | €274,274 | -€16,315 | -5.6% |
| Total equity and liabilities | 10/49 | €8,360,133 | €8,458,503 | +€98,370 | +1.2% |
| Equity | 10/15 | €1,320,803 | €1,303,718 | -€17,085 | -1.3% |
| Contributions | 10/11 | €298,586 | €298,586 | = | 0.0% |
| Capital | 10 | €298,586 | €298,586 | = | 0.0% |
| Issued capital | 100 | €298,586 | €298,586 | = | 0.0% |
| Reserves | 13 | €1,022,217 | €1,005,132 | -€17,085 | -1.7% |
| Non-distributable reserves | 130/1 | €29,859 | €29,859 | = | 0.0% |
| Legal reserve | 130 | €29,859 | €29,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,060 | €18,060 | = | 0.0% |
| Distributable reserves | 133 | €974,298 | €957,213 | -€17,085 | -1.8% |
| Amounts payable | 17/49 | €7,039,330 | €7,154,785 | +€115,455 | +1.6% |
| Amounts payable after more than one year | 17 | €199,442 | €276,774 | +€77,332 | +38.8% |
| Financial debts | 170/4 | €199,442 | €276,774 | +€77,332 | +38.8% |
| Leasing and similar obligations | 172 | €199,442 | €276,774 | +€77,332 | +38.8% |
| Amounts payable within one year | 42/48 | €6,812,714 | €6,850,313 | +€37,599 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €178,438 | €166,675 | -€11,763 | -6.6% |
| Financial debts | 43 | €754,037 | €770,618 | +€16,581 | +2.2% |
| Credit institutions | 430/8 | €754,037 | €770,618 | +€16,581 | +2.2% |
| Trade debts | 44 | €1,779,682 | €1,576,588 | -€203,094 | -11.4% |
| Suppliers | 440/4 | €1,779,682 | €1,576,588 | -€203,094 | -11.4% |
| Advances received on contracts in progress | 46 | €2,738,985 | €2,782,766 | +€43,781 | +1.6% |
| Taxes, remuneration and social security | 45 | €919,789 | €983,079 | +€63,290 | +6.9% |
| Taxes | 450/3 | €219,520 | €217,012 | -€2,508 | -1.1% |
| Remuneration and social security | 454/9 | €700,269 | €766,067 | +€65,798 | +9.4% |
| Other amounts payable | 47/48 | €441,783 | €570,587 | +€128,804 | +29.2% |
| Accrued charges and deferred income | 492/3 | €27,174 | €27,698 | +€524 | +1.9% |
| Operating income | 70/76A | €29,136,734 | €27,058,706 | -€2.1m | -7.1% |
| Turnover | 70 | €28,723,613 | €26,252,314 | -€2.5m | -8.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€125,032 | €327,686 | +€452,718 | |
| Own construction capitalised | 72 | €0 | - | = | |
| Other operating income | 74 | €410,193 | €371,637 | -€38,556 | -9.4% |
| Non-recurring operating income | 76A | €127,960 | €107,069 | -€20,891 | -16.3% |
| Operating charges | 60/66A | €29,227,552 | €27,184,837 | -€2.0m | -7.0% |
| Goods for resale, raw materials and consumables | 60 | €13,238,330 | €12,536,722 | -€701,608 | -5.3% |
| Purchases | 600/8 | €12,949,498 | €12,686,594 | -€262,904 | -2.0% |
| Change in stocks: decrease (increase) | 609 | €288,832 | -€149,872 | -€438,704 | |
| Services and other goods | 61 | €9,115,130 | €8,641,924 | -€473,206 | -5.2% |
| Remuneration, social security and pensions | 62 | €5,586,565 | €5,181,986 | -€404,579 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €939,453 | €768,968 | -€170,485 | -18.1% |
| Other operating charges | 640/8 | €49,076 | €50,324 | +€1,248 | +2.5% |
| Non-recurring operating charges | 66A | €298,998 | €4,913 | -€294,085 | -98.4% |
| Operating profit (loss) | 9901 | -€90,818 | -€126,131 | -€35,313 | -38.9% |
| Financial income | 75/76B | €205,469 | €200,084 | -€5,385 | -2.6% |
| Recurring financial income | 75 | €205,469 | €200,084 | -€5,385 | -2.6% |
| Income from current assets | 751 | €2,490 | €17,110 | +€14,620 | +587% |
| Other financial income | 752/9 | €202,979 | €182,974 | -€20,005 | -9.9% |
| Financial charges | 65/66B | €32,549 | €35,339 | +€2,790 | +8.6% |
| Recurring financial charges | 65 | €32,549 | €35,339 | +€2,790 | +8.6% |
| Debt charges | 650 | €10,019 | €12,994 | +€2,975 | +29.7% |
| Other financial charges | 652/9 | €22,530 | €22,345 | -€185 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €82,102 | €38,614 | -€43,488 | -53.0% |
| Income taxes | 67/77 | €77,347 | €55,699 | -€21,648 | -28.0% |
| Taxes | 670/3 | €77,347 | €55,699 | -€21,648 | -28.0% |
| Profit (loss) for the period | 9904 | €4,755 | -€17,085 | -€21,840 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,755 | -€17,085 | -€21,840 |
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 16 October 2026 via checked.be.