WILLEMS MANAGEMENT SERVICES: 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 MANAGEMENT SERVICES
Largest movements
- Financial fixed assets +€67,799
up €67,799 (+94.8%), from €71,497 to €139,296
- Current investments -€30,000
down €30,000 (-100%), from €30,000 to €0
- Cash -€12,963
down €12,963 (-53.1%), from €24,431 to €11,468
mainly Investment in fixed assets (net) (-€70,442) and Contributions, distributions and other (-€23,028)
- Tangible fixed assets -€8,908
down €8,908 (-30.8%), from €28,893 to €19,986
of which Land and buildings: -€5,092
- Receivables within one year +€8,684
up €8,684 (+22.1%), from €39,270 to €47,954
of which Other amounts receivable: +€5,830
- Other debts +€23,028
up €23,028, from €0 to €23,028
- Trade debts +€6,033
up €6,033 (+104%), from €5,818 to €11,852
- Financial income -€57,720
down €57,720 (-99.5%), from €57,999 to €279
- Gross operating margin +€30,340
up €30,340 (+133%), from €22,838 to €53,179
- Taxes +€5,590
up €5,590 (+49.5%), from €11,282 to €16,872
- Depreciation +€933
up €933 (+8.8%), from €10,618 to €11,551
- Other operating charges -€802
down €802 (-24.7%), from €3,253 to €2,450
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €194,146 | €220,827 | +€26,680 | +13.7% |
| Fixed assets | 21/28 | €100,391 | €159,282 | +€58,891 | +58.7% |
| Tangible fixed assets | 22/27 | €28,893 | €19,986 | -€8,908 | -30.8% |
| Land and buildings | 22 | €18,142 | €13,051 | -€5,092 | -28.1% |
| Plant, machinery and equipment | 23 | €5,908 | €5,122 | -€786 | -13.3% |
| Furniture and vehicles | 24 | €4,843 | €1,813 | -€3,030 | -62.6% |
| Financial fixed assets | 28 | €71,497 | €139,296 | +€67,799 | +94.8% |
| Current assets | 29/58 | €93,756 | €61,545 | -€32,211 | -34.4% |
| Amounts receivable within one year | 40/41 | €39,270 | €47,954 | +€8,684 | +22.1% |
| Trade receivables | 40 | €6,966 | €9,819 | +€2,854 | +41.0% |
| Other amounts receivable | 41 | €32,305 | €38,135 | +€5,830 | +18.0% |
| Current investments | 50/53 | €30,000 | €0 | -€30,000 | -100% |
| Cash at bank and in hand | 54/58 | €24,431 | €11,468 | -€12,963 | -53.1% |
| Deferred charges and accrued income | 490/1 | €54 | €2,122 | +€2,069 | +3,838% |
| Total equity and liabilities | 10/49 | €194,146 | €220,827 | +€26,680 | +13.7% |
| Equity | 10/15 | €166,397 | €164,928 | -€1,469 | -0.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €153,997 | €152,528 | -€1,469 | -1.0% |
| Distributable reserves | 133 | €153,997 | €152,528 | -€1,469 | -1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,749 | €55,899 | +€28,149 | +101% |
| Amounts payable within one year | 42/48 | €27,105 | €55,835 | +€28,730 | +106% |
| Financial debts | 43 | €15,885 | €15,870 | -€16 | -0.1% |
| Credit institutions | 430/8 | €15,885 | €15,870 | -€16 | -0.1% |
| Trade debts | 44 | €5,818 | €11,852 | +€6,033 | +104% |
| Suppliers | 440/4 | €5,818 | €11,852 | +€6,033 | +104% |
| Taxes, remuneration and social security | 45 | €5,401 | €5,085 | -€316 | -5.9% |
| Taxes | 450/3 | €5,401 | €5,085 | -€316 | -5.9% |
| Other amounts payable | 47/48 | €0 | €23,028 | +€23,028 | |
| Accrued charges and deferred income | 492/3 | €644 | €64 | -€581 | -90.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,618 | €11,551 | +€933 | +8.8% |
| Other operating charges | 640/8 | €3,253 | €2,450 | -€802 | -24.7% |
| Gross operating margin | 9900 | €22,838 | €53,179 | +€30,340 | +133% |
| Operating profit (loss) | 9901 | €8,967 | €39,177 | +€30,210 | +337% |
| Financial income | 75/76B | €57,999 | €279 | -€57,720 | -99.5% |
| Recurring financial income | 75 | €57,999 | €279 | -€57,720 | -99.5% |
| Financial charges | 65/66B | €1,670 | €1,025 | -€645 | -38.6% |
| Recurring financial charges | 65 | €1,670 | €1,025 | -€645 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €65,296 | €38,431 | -€26,865 | -41.1% |
| Income taxes | 67/77 | €11,282 | €16,872 | +€5,590 | +49.5% |
| Profit (loss) for the period | 9904 | €54,014 | €21,559 | -€32,455 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,014 | €21,559 | -€32,455 | -60.1% |
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 26 October 2026 via checked.be.