Willems Sander: 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 Sander
Largest movements
- Receivables within one year +€13,744
up €13,744 (+76.5%), from €17,966 to €31,711
of which Trade receivables: +€11,286
- Cash -€7,199
down €7,199 (-29.3%), from €24,569 to €17,369
mainly Receivables within one year (-€13,744) and Investment in fixed assets (net) (-€12,479)
- Tangible fixed assets +€4,506
up €4,506 (+4.0%), from €112,742 to €117,248
of which Land and buildings: +€6,869
- Trade debts +€19,917
up €19,917 (+499%), from €3,991 to €23,908
- Tax, wage and social debts -€7,347
down €7,347 (-98.9%), from €7,432 to €85
of which Taxes: -€5,215
- Debts after one year -€5,192
down €5,192 (-5.5%), from €94,202 to €89,010
- Profit (loss) carried forward +€3,468
up €3,468 (+8.2%), from €42,166 to €45,634
- Gross operating margin -€13,558
down €13,558 (-45.0%), from €30,130 to €16,572
- Depreciation -€9,970
down €9,970 (-55.6%), from €17,943 to €7,972
- Financial charges +€1,658
up €1,658 (+66.4%), from €2,497 to €4,155
- Taxes -€1,079
down €1,079 (-60.0%), from €1,797 to €718
- Other operating charges -€449
down €449 (-63.5%), from €708 to €259
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 | €155,277 | €166,328 | +€11,052 | +7.1% |
| Fixed assets | 21/28 | €112,742 | €117,248 | +€4,506 | +4.0% |
| Tangible fixed assets | 22/27 | €112,742 | €117,248 | +€4,506 | +4.0% |
| Land and buildings | 22 | €103,171 | €110,040 | +€6,869 | +6.7% |
| Plant, machinery and equipment | 23 | €9,168 | €7,098 | -€2,070 | -22.6% |
| Furniture and vehicles | 24 | €403 | €111 | -€292 | -72.6% |
| Current assets | 29/58 | €42,535 | €49,080 | +€6,545 | +15.4% |
| Amounts receivable within one year | 40/41 | €17,966 | €31,711 | +€13,744 | +76.5% |
| Trade receivables | 40 | €17,966 | €29,252 | +€11,286 | +62.8% |
| Other amounts receivable | 41 | - | €2,459 | +€2,459 | |
| Cash at bank and in hand | 54/58 | €24,569 | €17,369 | -€7,199 | -29.3% |
| Total equity and liabilities | 10/49 | €155,277 | €166,328 | +€11,052 | +7.1% |
| Equity | 10/15 | €44,666 | €48,134 | +€3,468 | +7.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,166 | €45,634 | +€3,468 | +8.2% |
| Amounts payable | 17/49 | €110,611 | €118,195 | +€7,583 | +6.9% |
| Amounts payable after more than one year | 17 | €94,202 | €89,010 | -€5,192 | -5.5% |
| Financial debts | 170/4 | €94,202 | €89,010 | -€5,192 | -5.5% |
| Amounts payable within one year | 42/48 | €16,409 | €29,184 | +€12,775 | +77.9% |
| Current portion of amounts payable after more than one year | 42 | €4,987 | €5,192 | +€205 | +4.1% |
| Trade debts | 44 | €3,991 | €23,908 | +€19,917 | +499% |
| Suppliers | 440/4 | €3,991 | €23,908 | +€19,917 | +499% |
| Taxes, remuneration and social security | 45 | €7,432 | €85 | -€7,347 | -98.9% |
| Taxes | 450/3 | €5,300 | €85 | -€5,215 | -98.4% |
| Remuneration and social security | 454/9 | €2,131 | - | -€2,131 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,943 | €7,972 | -€9,970 | -55.6% |
| Other operating charges | 640/8 | €708 | €259 | -€449 | -63.5% |
| Gross operating margin | 9900 | €30,130 | €16,572 | -€13,558 | -45.0% |
| Operating profit (loss) | 9901 | €11,479 | €8,341 | -€3,138 | -27.3% |
| Financial income | 75/76B | €3 | €1 | -€2 | -75.2% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -75.2% |
| Financial charges | 65/66B | €2,497 | €4,155 | +€1,658 | +66.4% |
| Recurring financial charges | 65 | €2,497 | €4,155 | +€1,658 | +66.4% |
| Profit (loss) for the period before taxes | 9903 | €8,984 | €4,186 | -€4,798 | -53.4% |
| Income taxes | 67/77 | €1,797 | €718 | -€1,079 | -60.0% |
| Profit (loss) for the period | 9904 | €7,188 | €3,468 | -€3,719 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,188 | €3,468 | -€3,719 | -51.7% |
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 17 October 2026 via checked.be.