WILLEMS CONSTRUCT: 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.
WILLEMS CONSTRUCT
Largest movements
- Cash +€1.3m
up €1.3m (+579.3%), from €226,536 to €1.5m
mainly Net result for the year (+€1.3m) and Receivables within one year (+€562,471)
- Tangible fixed assets +€576,492
up €576,492 (+379.0%), from €152,128 to €728,621
of which Land and buildings: +€570,062
- Receivables within one year -€562,471
down €562,471 (-66.3%), from €847,914 to €285,443
of which Trade receivables: -€548,682
- Reserves +€1.3m
up €1.3m (+210.4%), from €616,859 to €1.9m
of which Distributable reserves: +€1.3m
- Tax, wage and social debts +€76,032
up €76,032 (+519.3%), from €14,642 to €90,674
of which Taxes: +€90,674
- Accrued charges and deferred income -€28,207
no longer reported in 2025 (was €28,207)
- Financial income +€1.5m
new in 2025: €1.5m
- Gross operating margin -€404,816
down €404,816, from €378,290 to -€26,526
- Staff costs -€346,171
no longer reported in 2025 (was €346,171)
- Taxes +€68,491
up €68,491 (+100.5%), from €68,173 to €136,664
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 | €1,234,228 | €2,560,968 | +€1.3m | +107.5% |
| Fixed assets | 21/28 | €159,777 | €736,270 | +€576,492 | +360.8% |
| Tangible fixed assets | 22/27 | €152,128 | €728,621 | +€576,492 | +379.0% |
| Land and buildings | 22 | €136,341 | €706,403 | +€570,062 | +418.1% |
| Plant, machinery and equipment | 23 | €13,665 | €10,763 | -€2,902 | -21.2% |
| Furniture and vehicles | 24 | €2,122 | €11,454 | +€9,332 | +439.8% |
| Financial fixed assets | 28 | €7,649 | €7,649 | = | 0.0% |
| Current assets | 29/58 | €1,074,450 | €1,824,698 | +€750,248 | +69.8% |
| Amounts receivable within one year | 40/41 | €847,914 | €285,443 | -€562,471 | -66.3% |
| Trade receivables | 40 | €828,232 | €279,550 | -€548,682 | -66.2% |
| Other amounts receivable | 41 | €19,682 | €5,893 | -€13,789 | -70.1% |
| Cash at bank and in hand | 54/58 | €226,536 | €1,538,900 | +€1.3m | +579.3% |
| Deferred charges and accrued income | 490/1 | - | €355 | +€355 | |
| Total equity and liabilities | 10/49 | €1,234,228 | €2,560,968 | +€1.3m | +107.5% |
| Equity | 10/15 | €895,963 | €2,194,856 | +€1.3m | +145.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €616,859 | €1,914,859 | +€1.3m | +210.4% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €615,000 | €1,914,859 | +€1.3m | +211.4% |
| Profit (loss) carried forward | 14 | €260,511 | €261,404 | +€893 | +0.3% |
| Amounts payable | 17/49 | €338,265 | €366,112 | +€27,847 | +8.2% |
| Amounts payable after more than one year | 17 | €9,194 | €9,184 | -€10 | -0.1% |
| Financial debts | 170/4 | €9,194 | €9,184 | -€10 | -0.1% |
| Amounts payable within one year | 42/48 | €300,864 | €356,928 | +€56,065 | +18.6% |
| Trade debts | 44 | €282,118 | €258,045 | -€24,073 | -8.5% |
| Suppliers | 440/4 | €282,118 | €258,045 | -€24,073 | -8.5% |
| Taxes, remuneration and social security | 45 | €14,642 | €90,674 | +€76,032 | +519.3% |
| Taxes | 450/3 | - | €90,674 | +€90,674 | |
| Remuneration and social security | 454/9 | €14,642 | - | -€14,642 | |
| Other amounts payable | 47/48 | €4,104 | €8,209 | +€4,105 | +100.0% |
| Accrued charges and deferred income | 492/3 | €28,207 | - | -€28,207 | |
| Non-recurring operating income | 76A | - | €248 | +€248 | |
| Remuneration, social security and pensions | 62 | €346,171 | - | -€346,171 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,871 | €7,331 | -€1,539 | -17.4% |
| Other operating charges | 640/8 | €8,948 | €8,572 | -€377 | -4.2% |
| Non-recurring operating charges | 66A | €1,721 | €768 | -€953 | -55.4% |
| Gross operating margin | 9900 | €378,290 | -€26,526 | -€404,816 | |
| Operating profit (loss) | 9901 | €12,579 | -€43,197 | -€55,776 | |
| Financial income | 75/76B | - | €1,480,248 | +€1.5m | |
| Recurring financial income | 75 | - | €1,480,248 | +€1.5m | |
| Financial charges | 65/66B | €3,088 | €1,494 | -€1,594 | -51.6% |
| Recurring financial charges | 65 | €3,088 | €1,494 | -€1,594 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | €9,492 | €1,435,557 | +€1.4m | +15024.3% |
| Income taxes | 67/77 | €68,173 | €136,664 | +€68,491 | +100.5% |
| Profit (loss) for the period | 9904 | -€58,682 | €1,298,893 | +€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,682 | €1,298,893 | +€1.4m |
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 10 October 2026 via checked.be.