WILLEMS: what changed
Two fiscal 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.
WILLEMS
Largest movements
- Tangible fixed assets -€27,458
down €27,458 (-24.6%), from €111,696 to €84,238
of which Furniture and vehicles: -€28,111
- Cash -€8,466
down €8,466 (-13.0%), from €65,325 to €56,859
mainly Debts after one year (-€24,258) and Net result for the year (-€19,451)
- Receivables within one year -€5,212
down €5,212 (-5.2%), from €99,451 to €94,239
of which Trade receivables: -€6,259
- Debts after one year -€24,258
down €24,258 (-36.1%), from €67,154 to €42,896
- Profit (loss) carried forward -€19,451
new in 2025: -€19,451
- Gross operating margin -€45,369
down €45,369 (-71.7%), from €63,260 to €17,891
- Taxes -€6,255
down €6,255 (-93.9%), from €6,660 to €405
- Financial charges -€760
down €760 (-16.8%), from €4,525 to €3,765
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.
Cash bridge derived
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 | €287,101 | €246,618 | -€40,483 | -14.1% |
| Fixed assets | 21/28 | €111,696 | €84,238 | -€27,458 | -24.6% |
| Tangible fixed assets | 22/27 | €111,696 | €84,238 | -€27,458 | -24.6% |
| Land and buildings | 22 | €5,436 | €7,415 | +€1,980 | +36.4% |
| Plant, machinery and equipment | 23 | €2,514 | €1,652 | -€862 | -34.3% |
| Furniture and vehicles | 24 | €101,657 | €73,546 | -€28,111 | -27.7% |
| Other tangible fixed assets | 26 | €2,089 | €1,624 | -€465 | -22.2% |
| Current assets | 29/58 | €175,405 | €162,380 | -€13,025 | -7.4% |
| Stocks and contracts in progress | 3 | €476 | €649 | +€173 | +36.3% |
| Stocks | 30/36 | €476 | €649 | +€173 | +36.3% |
| Amounts receivable within one year | 40/41 | €99,451 | €94,239 | -€5,212 | -5.2% |
| Trade receivables | 40 | €21,380 | €15,121 | -€6,259 | -29.3% |
| Other amounts receivable | 41 | €78,071 | €79,118 | +€1,047 | +1.3% |
| Cash at bank and in hand | 54/58 | €65,325 | €56,859 | -€8,466 | -13.0% |
| Deferred charges and accrued income | 490/1 | €10,152 | €10,632 | +€480 | +4.7% |
| Total equity and liabilities | 10/49 | €287,101 | €246,618 | -€40,483 | -14.1% |
| Equity | 10/15 | €185,259 | €165,808 | -€19,451 | -10.5% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €163,259 | €163,259 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,514 | €7,514 | = | 0.0% |
| Distributable reserves | 133 | €155,745 | €155,745 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€19,451 | -€19,451 | |
| Amounts payable | 17/49 | €101,841 | €80,809 | -€21,032 | -20.7% |
| Amounts payable after more than one year | 17 | €67,154 | €42,896 | -€24,258 | -36.1% |
| Financial debts | 170/4 | €67,154 | €42,896 | -€24,258 | -36.1% |
| Amounts payable within one year | 42/48 | €34,687 | €37,913 | +€3,226 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €23,354 | €24,258 | +€904 | +3.9% |
| Trade debts | 44 | €1,665 | €3,491 | +€1,826 | +109.6% |
| Suppliers | 440/4 | €1,665 | €3,491 | +€1,826 | +109.6% |
| Taxes, remuneration and social security | 45 | €9,668 | €10,164 | +€497 | +5.1% |
| Taxes | 450/3 | €7,733 | €8,048 | +€315 | +4.1% |
| Remuneration and social security | 454/9 | €1,935 | €2,116 | +€181 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,118 | €30,670 | -€448 | -1.4% |
| Other operating charges | 640/8 | €3,088 | €2,606 | -€482 | -15.6% |
| Gross operating margin | 9900 | €63,260 | €17,891 | -€45,369 | -71.7% |
| Operating profit (loss) | 9901 | €29,055 | -€15,384 | -€44,438 | |
| Financial income | 75/76B | €12 | €103 | +€91 | +760.5% |
| Recurring financial income | 75 | €12 | €103 | +€91 | +760.5% |
| Financial charges | 65/66B | €4,525 | €3,765 | -€760 | -16.8% |
| Recurring financial charges | 65 | €4,525 | €3,765 | -€760 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €24,542 | -€19,046 | -€43,587 | |
| Income taxes | 67/77 | €6,660 | €405 | -€6,255 | -93.9% |
| Profit (loss) for the period | 9904 | €17,881 | -€19,451 | -€37,332 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,881 | -€19,451 | -€37,332 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.