WILLEMS P&C: what changed
WILLEMS P&C
Largest movements
- Receivables within one year +€18,433
up €18,433 (+10.9%), from €169,527 to €187,960
of which Other amounts receivable: +€17,613
- Cash +€5,552
up €5,552 (+157%), from €3,529 to €9,081
mainly Tax, wage and social debts (+€11,557) and Trade debts (+€10,594)
- Tangible fixed assets +€2,512
up €2,512 (+483%), from €520 to €3,033
- Tax, wage and social debts +€11,557
up €11,557 (+69.4%), from €16,645 to €28,202
of which Remuneration and social security: +€13,503
- Trade debts +€10,594
up €10,594 (+90.1%), from €11,764 to €22,358
- Current portion of long-term debt +€7,000
up €7,000 (+127%), from €5,500 to €12,500
- Debts after one year -€4,000
no longer reported in 2025 (was €4,000)
- Gross operating margin -€41,113
down €41,113 (-17.2%), from €239,603 to €198,490
- Financial charges -€22,727
down €22,727 (-68.4%), from €33,238 to €10,511
of which Financial charges: -€23,927
- Staff costs -€8,322
down €8,322 (-4.3%), from €194,699 to €186,377
- Write-downs -€5,110
no longer reported in 2025 (was €5,110)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,527 | €200,823 | +€25,297 | +14.4% |
| Fixed assets | 21/28 | €2,470 | €3,783 | +€1,312 | +53.1% |
| Tangible fixed assets | 22/27 | €520 | €3,033 | +€2,512 | +483% |
| Furniture and vehicles | 24 | €520 | €3,033 | +€2,512 | +483% |
| Financial fixed assets | 28 | €1,950 | €750 | -€1,200 | -61.5% |
| Current assets | 29/58 | €173,056 | €197,040 | +€23,984 | +13.9% |
| Amounts receivable within one year | 40/41 | €169,527 | €187,960 | +€18,433 | +10.9% |
| Trade receivables | 40 | €19,736 | €20,555 | +€819 | +4.2% |
| Other amounts receivable | 41 | €149,791 | €167,405 | +€17,613 | +11.8% |
| Cash at bank and in hand | 54/58 | €3,529 | €9,081 | +€5,552 | +157% |
| Total equity and liabilities | 10/49 | €175,527 | €200,823 | +€25,297 | +14.4% |
| Equity | 10/15 | €137,107 | €137,763 | +€657 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,507 | €119,163 | +€657 | +0.6% |
| Distributable reserves | 133 | €118,507 | €119,163 | +€657 | +0.6% |
| Amounts payable | 17/49 | €38,420 | €63,060 | +€24,640 | +64.1% |
| Amounts payable after more than one year | 17 | €4,000 | - | -€4,000 | |
| Financial debts | 170/4 | €4,000 | - | -€4,000 | |
| Amounts payable within one year | 42/48 | €34,420 | €63,060 | +€28,640 | +83.2% |
| Current portion of amounts payable after more than one year | 42 | €5,500 | €12,500 | +€7,000 | +127% |
| Trade debts | 44 | €11,764 | €22,358 | +€10,594 | +90.1% |
| Suppliers | 440/4 | €11,764 | €22,358 | +€10,594 | +90.1% |
| Taxes, remuneration and social security | 45 | €16,645 | €28,202 | +€11,557 | +69.4% |
| Taxes | 450/3 | €5,318 | €3,372 | -€1,946 | -36.6% |
| Remuneration and social security | 454/9 | €11,327 | €24,830 | +€13,503 | +119% |
| Other amounts payable | 47/48 | €511 | - | -€511 | |
| Remuneration, social security and pensions | 62 | €194,699 | €186,377 | -€8,322 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107 | €583 | +€475 | +443% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,110 | - | -€5,110 | |
| Other operating charges | 640/8 | €1,928 | €552 | -€1,376 | -71.4% |
| Gross operating margin | 9900 | €239,603 | €198,490 | -€41,113 | -17.2% |
| Operating profit (loss) | 9901 | €37,759 | €10,979 | -€26,780 | -70.9% |
| Financial income | 75/76B | €3,196 | €1,771 | -€1,425 | -44.6% |
| Recurring financial income | 75 | €3,196 | €1,771 | -€1,425 | -44.6% |
| Financial charges | 65/66B | €33,238 | €10,511 | -€22,727 | -68.4% |
| Recurring financial charges | 65 | €33,238 | €9,311 | -€23,927 | -72.0% |
| Non-recurring financial charges | 66B | - | €1,200 | +€1,200 | |
| Profit (loss) for the period before taxes | 9903 | €7,716 | €2,239 | -€5,478 | -71.0% |
| Income taxes | 67/77 | €3,341 | €1,582 | -€1,759 | -52.7% |
| Profit (loss) for the period | 9904 | €4,375 | €657 | -€3,718 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,375 | €657 | -€3,718 | -85.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.