WILLEMS IMMO: 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 IMMO
Largest movements
- Tangible fixed assets +€269,598
up €269,598 (+79.3%), from €339,767 to €609,364
of which Land and buildings: +€271,042
- Cash -€57,914
down €57,914 (-81.7%), from €70,893 to €12,979
mainly Investment in fixed assets (net) (-€284,649) and Tax, wage and social debts (-€1,901)
- Debts after one year +€210,000
new in 2025: €210,000
- Depreciation +€13,810
up €13,810 (+1112.4%), from €1,242 to €15,052
- Gross operating margin +€6,997
up €6,997 (+46.9%), from €14,920 to €21,917
- Taxes -€1,901
down €1,901 (-59.3%), from €3,206 to €1,305
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 | €410,660 | €622,344 | +€211,684 | +51.5% |
| Fixed assets | 21/28 | €339,767 | €609,364 | +€269,598 | +79.3% |
| Tangible fixed assets | 22/27 | €339,767 | €609,364 | +€269,598 | +79.3% |
| Land and buildings | 22 | €332,509 | €603,551 | +€271,042 | +81.5% |
| Plant, machinery and equipment | 23 | €7,258 | €5,813 | -€1,444 | -19.9% |
| Current assets | 29/58 | €70,893 | €12,979 | -€57,914 | -81.7% |
| Cash at bank and in hand | 54/58 | €70,893 | €12,979 | -€57,914 | -81.7% |
| Total equity and liabilities | 10/49 | €410,660 | €622,344 | +€211,684 | +51.5% |
| Equity | 10/15 | €395,453 | €399,038 | +€3,585 | +0.9% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Revaluation surpluses | 12 | €288,886 | €288,886 | = | 0.0% |
| Reserves | 13 | €97,891 | €101,476 | +€3,585 | +3.7% |
| Distributable reserves | 133 | €97,891 | €101,476 | +€3,585 | +3.7% |
| Amounts payable | 17/49 | €15,206 | €223,305 | +€208,099 | +1368.5% |
| Amounts payable after more than one year | 17 | - | €210,000 | +€210,000 | |
| Financial debts | 170/4 | - | €210,000 | +€210,000 | |
| Amounts payable within one year | 42/48 | €15,206 | €13,305 | -€1,901 | -12.5% |
| Taxes, remuneration and social security | 45 | €3,206 | €1,305 | -€1,901 | -59.3% |
| Taxes | 450/3 | €3,206 | €1,305 | -€1,901 | -59.3% |
| Other amounts payable | 47/48 | €12,000 | €12,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,242 | €15,052 | +€13,810 | +1112.4% |
| Other operating charges | 640/8 | €1,866 | €1,922 | +€57 | +3.1% |
| Gross operating margin | 9900 | €14,920 | €21,917 | +€6,997 | +46.9% |
| Operating profit (loss) | 9901 | €11,813 | €4,943 | -€6,870 | -58.2% |
| Financial charges | 65/66B | €46 | €52 | +€6 | +13.1% |
| Recurring financial charges | 65 | €46 | €52 | +€6 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €11,766 | €4,890 | -€6,876 | -58.4% |
| Income taxes | 67/77 | €3,206 | €1,305 | -€1,901 | -59.3% |
| Profit (loss) for the period | 9904 | €8,560 | €3,585 | -€4,975 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,560 | €3,585 | -€4,975 | -58.1% |
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 11 October 2026 via checked.be.