WILLGRO: 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.
WILLGRO
Largest movements
- Tangible fixed assets +€272,206
up €272,206 (+233%), from €116,801 to €389,007
of which Land and buildings: +€252,435
- Receivables within one year -€186,605
down €186,605 (-68.4%), from €272,696 to €86,091
of which Trade receivables: -€197,172
- Stocks and contracts -€31,108
no longer reported in 2025 (was €31,108)
- Cash -€18,848
down €18,848 (-28.3%), from €66,682 to €47,834
mainly Investment in fixed assets (net) (-€318,415) and Other debts (-€10,620)
- Trade debts +€31,770
up €31,770 (+71.1%), from €44,679 to €76,448
- Other debts -€10,620
down €10,620 (-25.0%), from €42,417 to €31,797
- Short-term financial debts +€10,000
new in 2025: €10,000
- Current portion of long-term debt +€8,774
up €8,774 (+36.8%), from €23,835 to €32,609
- Tax, wage and social debts -€6,918
down €6,918 (-96.0%), from €7,208 to €290
of which Remuneration and social security: -€6,918
- Gross operating margin +€33,902
up €33,902 (+94.2%), from €35,975 to €69,877
- Depreciation +€19,664
up €19,664 (+74.1%), from €26,545 to €46,209
- Financial charges +€5,066
up €5,066 (+33.0%), from €15,337 to €20,402
of which Financial charges: +€11,942
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 | €490,211 | €525,312 | +€35,101 | +7.2% |
| Fixed assets | 21/28 | €116,801 | €389,007 | +€272,206 | +233% |
| Tangible fixed assets | 22/27 | €116,801 | €389,007 | +€272,206 | +233% |
| Land and buildings | 22 | - | €252,435 | +€252,435 | |
| Plant, machinery and equipment | 23 | €94,377 | €80,641 | -€13,736 | -14.6% |
| Furniture and vehicles | 24 | €11,179 | €46,285 | +€35,106 | +314% |
| Other tangible fixed assets | 26 | €11,245 | €9,645 | -€1,599 | -14.2% |
| Current assets | 29/58 | €373,410 | €136,305 | -€237,104 | -63.5% |
| Stocks and contracts in progress | 3 | €31,108 | - | -€31,108 | |
| Contracts in progress | 37 | €31,108 | - | -€31,108 | |
| Amounts receivable within one year | 40/41 | €272,696 | €86,091 | -€186,605 | -68.4% |
| Trade receivables | 40 | €266,702 | €69,530 | -€197,172 | -73.9% |
| Other amounts receivable | 41 | €5,994 | €16,560 | +€10,567 | +176% |
| Cash at bank and in hand | 54/58 | €66,682 | €47,834 | -€18,848 | -28.3% |
| Deferred charges and accrued income | 490/1 | €2,924 | €2,381 | -€543 | -18.6% |
| Total equity and liabilities | 10/49 | €490,211 | €525,312 | +€35,101 | +7.2% |
| Equity | 10/15 | €64,241 | €65,873 | +€1,632 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €770 | €770 | = | 0.0% |
| Non-distributable reserves | 130/1 | €770 | €770 | = | 0.0% |
| Reserves not available under the articles | 1311 | €770 | €770 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,871 | €46,503 | +€1,632 | +3.6% |
| Amounts payable | 17/49 | €425,969 | €459,439 | +€33,470 | +7.9% |
| Amounts payable after more than one year | 17 | €290,263 | €287,626 | -€2,638 | -0.9% |
| Financial debts | 170/4 | €290,263 | €287,626 | -€2,638 | -0.9% |
| Amounts payable within one year | 42/48 | €118,139 | €151,319 | +€33,180 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €23,835 | €32,609 | +€8,774 | +36.8% |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Credit institutions | 430/8 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €44,679 | €76,448 | +€31,770 | +71.1% |
| Suppliers | 440/4 | €44,679 | €76,448 | +€31,770 | +71.1% |
| Advances received on contracts in progress | 46 | - | €175 | +€175 | |
| Taxes, remuneration and social security | 45 | €7,208 | €290 | -€6,918 | -96.0% |
| Taxes | 450/3 | €290 | €290 | = | 0.0% |
| Remuneration and social security | 454/9 | €6,918 | - | -€6,918 | |
| Other amounts payable | 47/48 | €42,417 | €31,797 | -€10,620 | -25.0% |
| Accrued charges and deferred income | 492/3 | €17,567 | €20,494 | +€2,927 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,545 | €46,209 | +€19,664 | +74.1% |
| Other operating charges | 640/8 | €1,556 | €1,840 | +€284 | +18.3% |
| Gross operating margin | 9900 | €35,975 | €69,877 | +€33,902 | +94.2% |
| Operating profit (loss) | 9901 | €7,875 | €21,828 | +€13,953 | +177% |
| Financial income | 75/76B | €12 | €206 | +€194 | +1,678% |
| Recurring financial income | 75 | €12 | €206 | +€194 | +1,678% |
| Financial charges | 65/66B | €15,337 | €20,402 | +€5,066 | +33.0% |
| Recurring financial charges | 65 | €8,460 | €20,402 | +€11,942 | +141% |
| Non-recurring financial charges | 66B | €6,876 | - | -€6,876 | |
| Profit (loss) for the period before taxes | 9903 | -€7,450 | €1,632 | +€9,082 | |
| Profit (loss) for the period | 9904 | -€7,450 | €1,632 | +€9,082 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,450 | €1,632 | +€9,082 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.