Willems Tenten: 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 Tenten
Largest movements
- Tangible fixed assets +€2.4m
up €2.4m (+50.2%), from €4.8m to €7.2m
of which Plant, machinery and equipment: +€2.5m
- Receivables within one year -€350,811
down €350,811 (-20.4%), from €1.7m to €1.4m
of which Other amounts receivable: -€749,226
- Cash -€334,039
down €334,039 (-65.2%), from €512,435 to €178,396
mainly Investment in fixed assets (net) (-€3.6m) and Contributions, distributions and other (-€1.5m)
- Stocks and contracts +€210,750
up €210,750 (+11,364%), from €1,854 to €212,604
of which Contracts in progress: +€210,750
- Intangible fixed assets -€100,706
down €100,706 (-33.3%), from €302,119 to €201,413
- Other debts +€1.6m
up €1.6m (+273%), from €582,776 to €2.2m
- Debts after one year +€1.1m
up €1.1m (+77.2%), from €1.4m to €2.6m
of which Financial debts: +€1.6m
- Reserves -€1.0m
down €1.0m (-33.1%), from €3.0m to €2.0m
of which Distributable reserves: -€1.0m
- Trade debts -€248,817
down €248,817 (-14.2%), from €1.7m to €1.5m
- Current portion of long-term debt +€245,788
up €245,788 (+95.9%), from €256,397 to €502,185
- Depreciation +€506,056
up €506,056 (+63.0%), from €803,041 to €1.3m
- Taxes -€121,875
down €121,875 (-49.6%), from €245,832 to €123,957
- Staff costs -€41,194
down €41,194 (-15.2%), from €270,304 to €229,110
- Gross operating margin +€37,727
up €37,727 (+1.7%), from €2.3m to €2.3m
- Financial charges +€28,763
up €28,763 (+32.1%), from €89,495 to €118,258
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 | €7,365,244 | €9,189,637 | +€1.8m | +24.8% |
| Fixed assets | 21/28 | €5,103,120 | €7,402,998 | +€2.3m | +45.1% |
| Intangible fixed assets | 21 | €302,119 | €201,413 | -€100,706 | -33.3% |
| Tangible fixed assets | 22/27 | €4,779,337 | €7,179,921 | +€2.4m | +50.2% |
| Land and buildings | 22 | €2,678,608 | €2,537,864 | -€140,744 | -5.3% |
| Plant, machinery and equipment | 23 | €1,447,766 | €3,963,587 | +€2.5m | +174% |
| Furniture and vehicles | 24 | €535,420 | €390,446 | -€144,974 | -27.1% |
| Leasing and similar rights | 25 | €117,543 | €288,024 | +€170,481 | +145% |
| Financial fixed assets | 28 | €21,664 | €21,664 | = | 0.0% |
| Current assets | 29/58 | €2,262,124 | €1,786,639 | -€475,485 | -21.0% |
| Stocks and contracts in progress | 3 | €1,854 | €212,604 | +€210,750 | +11,364% |
| Stocks | 30/36 | €1,854 | €1,854 | = | 0.0% |
| Contracts in progress | 37 | - | €210,750 | +€210,750 | |
| Amounts receivable within one year | 40/41 | €1,721,704 | €1,370,894 | -€350,811 | -20.4% |
| Trade receivables | 40 | - | €398,415 | +€398,415 | |
| Other amounts receivable | 41 | €1,721,704 | €972,478 | -€749,226 | -43.5% |
| Cash at bank and in hand | 54/58 | €512,435 | €178,396 | -€334,039 | -65.2% |
| Deferred charges and accrued income | 490/1 | €26,130 | €24,744 | -€1,385 | -5.3% |
| Total equity and liabilities | 10/49 | €7,365,244 | €9,189,637 | +€1.8m | +24.8% |
| Equity | 10/15 | €3,113,858 | €2,098,335 | -€1.0m | -32.6% |
| Contributions | 10/11 | €48,214 | €48,214 | = | 0.0% |
| Reserves | 13 | €3,031,322 | €2,028,461 | -€1.0m | -33.1% |
| Tax-exempt reserves | 132 | €31,322 | €28,461 | -€2,861 | -9.1% |
| Distributable reserves | 133 | €3,000,000 | €2,000,000 | -€1.0m | -33.3% |
| Profit (loss) carried forward | 14 | €34,323 | €21,660 | -€12,662 | -36.9% |
| Provisions and deferred taxes | 16 | €6,819 | €5,346 | -€1,473 | -21.6% |
| Deferred taxes | 168 | €6,819 | €5,346 | -€1,473 | -21.6% |
| Amounts payable | 17/49 | €4,244,567 | €7,085,956 | +€2.8m | +66.9% |
| Amounts payable after more than one year | 17 | €1,441,044 | €2,553,350 | +€1.1m | +77.2% |
| Financial debts | 170/4 | €936,244 | €2,548,550 | +€1.6m | +172% |
| Other amounts payable | 178/9 | €504,800 | €4,800 | -€500,000 | -99.0% |
| Amounts payable within one year | 42/48 | €2,776,981 | €4,526,609 | +€1.7m | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €256,397 | €502,185 | +€245,788 | +95.9% |
| Financial debts | 43 | €34,106 | €183,649 | +€149,543 | +438% |
| Credit institutions | 430/8 | €34,106 | €183,649 | +€149,543 | +438% |
| Trade debts | 44 | €1,749,474 | €1,500,657 | -€248,817 | -14.2% |
| Suppliers | 440/4 | €1,749,474 | €1,500,657 | -€248,817 | -14.2% |
| Taxes, remuneration and social security | 45 | €154,227 | €163,476 | +€9,249 | +6.0% |
| Taxes | 450/3 | €143,000 | €141,901 | -€1,099 | -0.8% |
| Remuneration and social security | 454/9 | €11,227 | €21,575 | +€10,348 | +92.2% |
| Other amounts payable | 47/48 | €582,776 | €2,176,642 | +€1.6m | +273% |
| Accrued charges and deferred income | 492/3 | €26,542 | €5,997 | -€20,544 | -77.4% |
| Non-recurring operating income | 76A | €18,832 | €30,452 | +€11,620 | +61.7% |
| Remuneration, social security and pensions | 62 | €270,304 | €229,110 | -€41,194 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €803,041 | €1,309,097 | +€506,056 | +63.0% |
| Other operating charges | 640/8 | €85,960 | €89,683 | +€3,723 | +4.3% |
| Non-recurring operating charges | 66A | €31,124 | - | -€31,124 | |
| Gross operating margin | 9900 | €2,263,926 | €2,301,653 | +€37,727 | +1.7% |
| Operating profit (loss) | 9901 | €1,073,498 | €673,764 | -€399,733 | -37.2% |
| Financial income | 75/76B | €36,601 | €51,454 | +€14,853 | +40.6% |
| Recurring financial income | 75 | €36,601 | €51,454 | +€14,853 | +40.6% |
| Financial charges | 65/66B | €89,495 | €118,258 | +€28,763 | +32.1% |
| Recurring financial charges | 65 | €89,495 | €118,258 | +€28,763 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €1,020,604 | €606,960 | -€413,644 | -40.5% |
| Transfer from deferred taxes | 780 | €1,473 | €1,473 | = | 0.0% |
| Income taxes | 67/77 | €245,832 | €123,957 | -€121,875 | -49.6% |
| Profit (loss) for the period | 9904 | €776,245 | €484,477 | -€291,769 | -37.6% |
| Transfer from tax-exempt reserves | 789 | €2,861 | €2,861 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €779,106 | €487,338 | -€291,769 | -37.4% |
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 25 October 2026 via checked.be.