Willemsen B.: 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.
Willemsen B.
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+45.5%), from €4.0m to €5.8m
of which Plant, machinery and equipment: +€1.9m
- Receivables within one year -€295,723
down €295,723 (-44.3%), from €667,242 to €371,519
of which Trade receivables: -€276,436
- Debts after one year +€530,145
up €530,145 (+24.7%), from €2.1m to €2.7m
- Trade debts +€503,954
up €503,954 (+250%), from €201,547 to €705,501
- Profit (loss) carried forward +€382,965
up €382,965 (+45.7%), from €838,612 to €1.2m
- Current portion of long-term debt +€160,524
up €160,524 (+29.4%), from €545,123 to €705,647
- Other debts -€112,127
down €112,127 (-13.7%), from €818,628 to €706,501
- Gross operating margin +€293,531
up €293,531 (+23.0%), from €1.3m to €1.6m
- Depreciation +€89,375
up €89,375 (+10.7%), from €834,238 to €923,613
- Taxes +€62,995
new in 2025: €62,995
- Other operating charges +€61,526
up €61,526 (+475%), from €12,957 to €74,483
- Financial charges +€41,012
up €41,012 (+90.5%), from €45,321 to €86,333
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 | €4,684,968 | €6,232,390 | +€1.5m | +33.0% |
| Fixed assets | 21/28 | €4,005,163 | €5,826,477 | +€1.8m | +45.5% |
| Tangible fixed assets | 22/27 | €4,005,163 | €5,826,477 | +€1.8m | +45.5% |
| Plant, machinery and equipment | 23 | €3,896,297 | €5,750,473 | +€1.9m | +47.6% |
| Furniture and vehicles | 24 | €107,118 | €76,004 | -€31,114 | -29.0% |
| Leasing and similar rights | 25 | €1,748 | - | -€1,748 | |
| Current assets | 29/58 | €679,805 | €405,913 | -€273,892 | -40.3% |
| Amounts receivable within one year | 40/41 | €667,242 | €371,519 | -€295,723 | -44.3% |
| Trade receivables | 40 | €647,955 | €371,519 | -€276,436 | -42.7% |
| Other amounts receivable | 41 | €19,287 | - | -€19,287 | |
| Cash at bank and in hand | 54/58 | €12,563 | €34,394 | +€21,831 | +174% |
| Total equity and liabilities | 10/49 | €4,684,968 | €6,232,390 | +€1.5m | +33.0% |
| Equity | 10/15 | €862,922 | €1,245,887 | +€382,965 | +44.4% |
| Contributions | 10/11 | €22,100 | €22,100 | = | 0.0% |
| Reserves | 13 | €2,210 | €2,210 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,210 | €2,210 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,210 | €2,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €838,612 | €1,221,577 | +€382,965 | +45.7% |
| Amounts payable | 17/49 | €3,822,046 | €4,986,503 | +€1.2m | +30.5% |
| Amounts payable after more than one year | 17 | €2,143,748 | €2,673,893 | +€530,145 | +24.7% |
| Financial debts | 170/4 | €2,143,748 | €2,673,893 | +€530,145 | +24.7% |
| Amounts payable within one year | 42/48 | €1,678,298 | €2,312,610 | +€634,312 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €545,123 | €705,647 | +€160,524 | +29.4% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €201,547 | €705,501 | +€503,954 | +250% |
| Suppliers | 440/4 | €201,547 | €705,501 | +€503,954 | +250% |
| Taxes, remuneration and social security | 45 | €13,000 | €94,961 | +€81,961 | +630% |
| Taxes | 450/3 | €13,000 | €94,961 | +€81,961 | +630% |
| Other amounts payable | 47/48 | €818,628 | €706,501 | -€112,127 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €834,238 | €923,613 | +€89,375 | +10.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €39,268 | +€39,268 | |
| Other operating charges | 640/8 | €12,957 | €74,483 | +€61,526 | +475% |
| Gross operating margin | 9900 | €1,276,126 | €1,569,657 | +€293,531 | +23.0% |
| Operating profit (loss) | 9901 | €428,931 | €532,293 | +€103,362 | +24.1% |
| Financial income | 75/76B | €185 | - | -€185 | |
| Recurring financial income | 75 | €185 | - | -€185 | |
| Financial charges | 65/66B | €45,321 | €86,333 | +€41,012 | +90.5% |
| Recurring financial charges | 65 | €45,321 | €86,333 | +€41,012 | +90.5% |
| Profit (loss) for the period before taxes | 9903 | €383,795 | €445,960 | +€62,165 | +16.2% |
| Income taxes | 67/77 | - | €62,995 | +€62,995 | |
| Profit (loss) for the period | 9904 | €383,795 | €382,965 | -€830 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €383,795 | €382,965 | -€830 | -0.2% |
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 27 October 2026 via checked.be.