WILLEMS MARECHAL: 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 MARECHAL
Largest movements
- Cash -€3,981
down €3,981 (-78.3%), from €5,085 to €1,103
mainly Tax, wage and social debts (-€1,993) and Net result for the year (-€1,642)
- Deferred charges and accrued income -€1,162
down €1,162 (-15.0%), from €7,767 to €6,605
- Tangible fixed assets +€733
new in 2025: €733
- Receivables within one year +€164
up €164 (+40.7%), from €403 to €567
- Tax, wage and social debts -€1,993
down €1,993 (-42.5%), from €4,687 to €2,694
- Profit (loss) carried forward -€1,642
down €1,642, from €1,627 to -€14
- Other debts -€1,344
down €1,344 (-32.7%), from €4,112 to €2,769
- Trade debts +€733
up €733 (+55.2%), from €1,328 to €2,061
- Gross operating margin -€8,395
down €8,395 (-59.0%), from €14,225 to €5,830
- Other operating charges -€2,358
down €2,358 (-44.5%), from €5,301 to €2,943
- Taxes -€1,899
down €1,899 (-40.5%), from €4,687 to €2,788
- Depreciation -€1,174
down €1,174 (-78.3%), from €1,500 to €326
- Financial charges +€302
up €302 (+27.1%), from €1,113 to €1,415
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 | €13,254 | €9,009 | -€4,246 | -32.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | - | €733 | +€733 | |
| Tangible fixed assets | 22/27 | - | €733 | +€733 | |
| Furniture and vehicles | 24 | - | €733 | +€733 | |
| Current assets | 29/58 | €13,254 | €8,276 | -€4,979 | -37.6% |
| Amounts receivable within one year | 40/41 | €403 | €567 | +€164 | +40.7% |
| Other amounts receivable | 41 | €403 | €567 | +€164 | +40.7% |
| Cash at bank and in hand | 54/58 | €5,085 | €1,103 | -€3,981 | -78.3% |
| Deferred charges and accrued income | 490/1 | €7,767 | €6,605 | -€1,162 | -15.0% |
| Total equity and liabilities | 10/49 | €13,254 | €9,009 | -€4,246 | -32.0% |
| Equity | 10/15 | €3,127 | €1,486 | -€1,642 | -52.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,627 | -€14 | -€1,642 | |
| Amounts payable | 17/49 | €10,127 | €7,523 | -€2,604 | -25.7% |
| Amounts payable within one year | 42/48 | €10,127 | €7,523 | -€2,604 | -25.7% |
| Trade debts | 44 | €1,328 | €2,061 | +€733 | +55.2% |
| Suppliers | 440/4 | €1,328 | €2,061 | +€733 | +55.2% |
| Taxes, remuneration and social security | 45 | €4,687 | €2,694 | -€1,993 | -42.5% |
| Taxes | 450/3 | €4,687 | €2,694 | -€1,993 | -42.5% |
| Other amounts payable | 47/48 | €4,112 | €2,769 | -€1,344 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,500 | €326 | -€1,174 | -78.3% |
| Other operating charges | 640/8 | €5,301 | €2,943 | -€2,358 | -44.5% |
| Gross operating margin | 9900 | €14,225 | €5,830 | -€8,395 | -59.0% |
| Operating profit (loss) | 9901 | €7,424 | €2,561 | -€4,862 | -65.5% |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.7% |
| Financial charges | 65/66B | €1,113 | €1,415 | +€302 | +27.1% |
| Recurring financial charges | 65 | €1,113 | €1,415 | +€302 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €6,314 | €1,146 | -€5,168 | -81.8% |
| Income taxes | 67/77 | €4,687 | €2,788 | -€1,899 | -40.5% |
| Profit (loss) for the period | 9904 | €1,627 | -€1,642 | -€3,269 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,627 | -€1,642 | -€3,269 |
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 5 October 2026 via checked.be.