WILLEMSEN N.: 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 N.
Largest movements
- Tangible fixed assets -€17,191
down €17,191 (-11.7%), from €146,920 to €129,728
of which Plant, machinery and equipment: -€10,662
- Cash -€13,985
down €13,985 (-56.4%), from €24,792 to €10,807
mainly Net result for the year (-€20,397) and Debts after one year (-€13,504)
- Stocks and contracts +€7,563
up €7,563 (+66.7%), from €11,342 to €18,904
- Deferred charges and accrued income +€2,839
up €2,839 (+140%), from €2,034 to €4,873
- Profit (loss) carried forward -€20,397
down €20,397 (-127%), from -€16,016 to -€36,413
- Debts after one year -€13,504
down €13,504 (-27.9%), from €48,358 to €34,854
- Trade debts +€9,793
up €9,793 (+33.1%), from €29,544 to €39,337
- Other debts +€2,503
up €2,503 (+3.8%), from €65,288 to €67,791
- Gross operating margin -€24,872
down €24,872 (-78.1%), from €31,837 to €6,965
- Depreciation +€2,932
up €2,932 (+13.2%), from €22,245 to €25,176
- Staff costs -€1,656
no longer reported in 2025 (was €1,656)
- Financial charges -€481
down €481 (-17.6%), from €2,723 to €2,243
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 | €206,382 | €186,223 | -€20,159 | -9.8% |
| Fixed assets | 21/28 | €146,920 | €129,728 | -€17,191 | -11.7% |
| Tangible fixed assets | 22/27 | €146,920 | €129,728 | -€17,191 | -11.7% |
| Land and buildings | 22 | €62,557 | €54,845 | -€7,713 | -12.3% |
| Plant, machinery and equipment | 23 | €84,362 | €73,700 | -€10,662 | -12.6% |
| Furniture and vehicles | 24 | - | €1,183 | +€1,183 | |
| Current assets | 29/58 | €59,462 | €56,495 | -€2,967 | -5.0% |
| Stocks and contracts in progress | 3 | €11,342 | €18,904 | +€7,563 | +66.7% |
| Stocks | 30/36 | €11,342 | €18,904 | +€7,563 | +66.7% |
| Amounts receivable within one year | 40/41 | €21,294 | €21,910 | +€616 | +2.9% |
| Trade receivables | 40 | €18,665 | €13,680 | -€4,985 | -26.7% |
| Other amounts receivable | 41 | €2,629 | €8,230 | +€5,601 | +213% |
| Cash at bank and in hand | 54/58 | €24,792 | €10,807 | -€13,985 | -56.4% |
| Deferred charges and accrued income | 490/1 | €2,034 | €4,873 | +€2,839 | +140% |
| Total equity and liabilities | 10/49 | €206,382 | €186,223 | -€20,159 | -9.8% |
| Equity | 10/15 | €50,133 | €29,737 | -€20,397 | -40.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €46,149 | €46,149 | = | 0.0% |
| Distributable reserves | 133 | €46,149 | €46,149 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,016 | -€36,413 | -€20,397 | -127% |
| Amounts payable | 17/49 | €156,248 | €156,486 | +€238 | +0.2% |
| Amounts payable after more than one year | 17 | €48,358 | €34,854 | -€13,504 | -27.9% |
| Financial debts | 170/4 | €48,358 | €34,854 | -€13,504 | -27.9% |
| Amounts payable within one year | 42/48 | €107,890 | €121,632 | +€13,742 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €13,059 | €13,504 | +€446 | +3.4% |
| Trade debts | 44 | €29,544 | €39,337 | +€9,793 | +33.1% |
| Suppliers | 440/4 | €29,544 | €39,337 | +€9,793 | +33.1% |
| Taxes, remuneration and social security | 45 | - | €1,000 | +€1,000 | |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €65,288 | €67,791 | +€2,503 | +3.8% |
| Remuneration, social security and pensions | 62 | €1,656 | - | -€1,656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,245 | €25,176 | +€2,932 | +13.2% |
| Gross operating margin | 9900 | €31,837 | €6,965 | -€24,872 | -78.1% |
| Operating profit (loss) | 9901 | €7,936 | -€18,212 | -€26,148 | |
| Financial income | 75/76B | €73 | €58 | -€15 | -20.3% |
| Recurring financial income | 75 | €73 | €58 | -€15 | -20.3% |
| Financial charges | 65/66B | €2,723 | €2,243 | -€481 | -17.6% |
| Recurring financial charges | 65 | €2,723 | €2,243 | -€481 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €5,285 | -€20,397 | -€25,682 | |
| Profit (loss) for the period | 9904 | €5,285 | -€20,397 | -€25,682 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,285 | -€20,397 | -€25,682 |
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 29 October 2026 via checked.be.