Williams': what changed
Two fiscal 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.
What changed
Williams'
NACE 16.230, Manufacture of other builders' carpentry and joinery
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€431,547
2024 · €382,970+€48,577
Equity
€823,303
2024 · €776,366+€46,937
Cash
€2.1m
2024 · €2.2m-€162,848
Balance sheet total
€3.2m
2024 · €3.4m-€140,536
Largest movements
Assets
- Cash -€162,848
down €162,848 (-7.3%), from €2.2m to €2.1m
mainly Contributions, distributions and other (-€384,610) and Advances received (-€248,065)
- Receivables within one year +€117,164
up €117,164 (+24.0%), from €487,202 to €604,365
of which Trade receivables: +€63,817
- Tangible fixed assets -€59,245
down €59,245 (-11.1%), from €533,389 to €474,144
of which Plant, machinery and equipment: -€51,645
Equity and liabilities
- Advances received -€248,065
down €248,065 (-21.9%), from €1.1m to €887,219
- Provisions +€60,000
up €60,000 (+15.9%), from €376,700 to €436,700
- Profit (loss) carried forward +€51,547
up €51,547 (+8.1%), from €635,648 to €687,195
Income statement
- Gross operating margin +€136,752
up €136,752 (+6.6%), from €2.1m to €2.2m
- Financial income -€38,887
down €38,887 (-66.7%), from €58,331 to €19,444
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.
Result 2024
€382,970
Gross operating margin
+€136,752
Staff costs
-€20,344
Depreciation
-€6,621
Write-downs
-€10,009
Provisions
-€600
Other operating charges
+€5,802
Other operating items
+€703
Financial income
-€38,887
Financial charges
+€276
Taxes
-€18,495
Result 2025
€431,547
Cash bridge derived
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.
From operations
+€309,745
Investment
-€56,510
Financing
-€416,083
Cash 2024
€2.2m
From operations (derived)
+€309,745
Net result for the year
+€431,547
Depreciation
+€115,755
Stocks and contracts
+€10,006
Receivables within one year
-€117,164
Deferred charges and accrued income
+€25,600
Provisions
+€60,000
Trade debts
-€7,142
Tax, wage and social debts
+€9,379
Advances received
-€248,065
Other debts
+€14,706
Accrued charges and deferred income
+€15,122
Investment (derived)
-€56,510
Investment in fixed assets (net)
-€56,510
Financing
-€416,083
Debts after one year
-€14,057
Current portion of long-term debt
-€17,416
Contributions, distributions and other
-€384,610
Cash 2025
€2.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,357,306 | €3,216,770 | -€140,536 | -4.2% |
| Fixed assets | 21/28 | €534,462 | €475,217 | -€59,245 | -11.1% |
| Tangible fixed assets | 22/27 | €533,389 | €474,144 | -€59,245 | -11.1% |
| Plant, machinery and equipment | 23 | €406,947 | €355,302 | -€51,645 | -12.7% |
| Furniture and vehicles | 24 | €126,442 | €118,842 | -€7,600 | -6.0% |
| Financial fixed assets | 28 | €1,074 | €1,074 | = | 0.0% |
| Current assets | 29/58 | €2,822,843 | €2,741,552 | -€81,291 | -2.9% |
| Stocks and contracts in progress | 3 | €88,945 | €78,938 | -€10,006 | -11.3% |
| Stocks | 30/36 | €88,945 | €78,938 | -€10,006 | -11.3% |
| Amounts receivable within one year | 40/41 | €487,202 | €604,365 | +€117,164 | +24.0% |
| Trade receivables | 40 | €287,617 | €351,434 | +€63,817 | +22.2% |
| Other amounts receivable | 41 | €199,584 | €252,931 | +€53,347 | +26.7% |
| Cash at bank and in hand | 54/58 | €2,221,097 | €2,058,249 | -€162,848 | -7.3% |
| Deferred charges and accrued income | 490/1 | €25,600 | - | -€25,600 | |
| Total equity and liabilities | 10/49 | €3,357,306 | €3,216,770 | -€140,536 | -4.2% |
| Equity | 10/15 | €776,366 | €823,303 | +€46,937 | +6.0% |
| Contributions | 10/11 | €90,207 | €90,207 | = | 0.0% |
| Reserves | 13 | €9,021 | €9,021 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,021 | €9,021 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,021 | €9,021 | = | 0.0% |
| Profit (loss) carried forward | 14 | €635,648 | €687,195 | +€51,547 | +8.1% |
| Investment grants | 15 | €41,490 | €36,880 | -€4,610 | -11.1% |
| Provisions and deferred taxes | 16 | €376,700 | €436,700 | +€60,000 | +15.9% |
| Provisions for liabilities and charges | 160/5 | €376,700 | €436,700 | +€60,000 | +15.9% |
| Other liabilities and charges | 164/5 | €376,700 | €436,700 | +€60,000 | +15.9% |
| Amounts payable | 17/49 | €2,204,240 | €1,956,767 | -€247,473 | -11.2% |
| Amounts payable after more than one year | 17 | €303,608 | €289,551 | -€14,057 | -4.6% |
| Financial debts | 170/4 | €303,608 | €289,551 | -€14,057 | -4.6% |
| Amounts payable within one year | 42/48 | €1,875,632 | €1,627,093 | -€248,539 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €68,143 | €50,727 | -€17,416 | -25.6% |
| Trade debts | 44 | €163,959 | €156,818 | -€7,142 | -4.4% |
| Suppliers | 440/4 | €163,959 | €156,818 | -€7,142 | -4.4% |
| Advances received on contracts in progress | 46 | €1,135,284 | €887,219 | -€248,065 | -21.9% |
| Taxes, remuneration and social security | 45 | €250,845 | €260,224 | +€9,379 | +3.7% |
| Taxes | 450/3 | €103,515 | €119,000 | +€15,485 | +15.0% |
| Remuneration and social security | 454/9 | €147,330 | €141,224 | -€6,107 | -4.1% |
| Other amounts payable | 47/48 | €257,401 | €272,106 | +€14,706 | +5.7% |
| Accrued charges and deferred income | 492/3 | €25,000 | €40,122 | +€15,122 | +60.5% |
| Remuneration, social security and pensions | 62 | €1,361,893 | €1,382,236 | +€20,344 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,134 | €115,755 | +€6,621 | +6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,885 | €16,894 | +€10,009 | +145.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €59,855 | €60,455 | +€600 | +1.0% |
| Other operating charges | 640/8 | €57,261 | €51,458 | -€5,802 | -10.1% |
| Non-recurring operating charges | 66A | €2,292 | €1,590 | -€703 | -30.6% |
| Gross operating margin | 9900 | €2,074,680 | €2,211,433 | +€136,752 | +6.6% |
| Operating profit (loss) | 9901 | €477,361 | €583,045 | +€105,683 | +22.1% |
| Financial income | 75/76B | €58,331 | €19,444 | -€38,887 | -66.7% |
| Recurring financial income | 75 | €58,331 | €19,444 | -€38,887 | -66.7% |
| Financial charges | 65/66B | €16,049 | €15,774 | -€276 | -1.7% |
| Recurring financial charges | 65 | €16,049 | €15,774 | -€276 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €519,643 | €586,715 | +€67,072 | +12.9% |
| Income taxes | 67/77 | €136,673 | €155,168 | +€18,495 | +13.5% |
| Profit (loss) for the period | 9904 | €382,970 | €431,547 | +€48,577 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €382,970 | €431,547 | +€48,577 | +12.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.