WILLIWAW: 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.
What changed
WILLIWAW
NACE 42.220, Construction of utility projects for electricity and telecommunications
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€62,314
2024 · €76,782-€14,468
Equity
€2.0m
2024 · €2.0m+€62,314
Cash
€506,110
2024 · €503,644+€2,467
Balance sheet total
€8.0m
2024 · €6.6m+€1.4m
Largest movements
Assets
- Tangible fixed assets +€752,828
up €752,828 (+13.1%), from €5.7m to €6.5m
of which Plant, machinery and equipment: +€6.5m
- Receivables within one year +€512,360
up €512,360 (+159%), from €321,394 to €833,754
of which Other amounts receivable: +€408,490
- Intangible fixed assets +€109,922
new in 2025: €109,922
Equity and liabilities
- Debts after one year +€5.3m
new in 2025: €5.3m
- Other debts -€4.0m
no longer reported in 2025 (was €4.0m)
- Trade debts -€84,043
down €84,043 (-34.9%), from €240,957 to €156,913
Income statement
- Turnover +€404,354
up €404,354 (+124%), from €325,017 to €729,370
- Depreciation +€265,061
up €265,061 (+124,999%), from €212 to €265,273
- Financial charges +€196,872
up €196,872 (+35,026%), from €562 to €197,434
- Other operating income +€68,226
up €68,226 (+246%), from €27,780 to €96,006
- Provisions +€17,255
up €17,255 (+51.5%), from €33,523 to €50,778
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
€76,782
Turnover
+€404,354
Other operating income
+€68,226
Services and other goods
-€10,353
Depreciation
-€265,061
Provisions
-€17,255
Other operating charges
+€653
Financial income
+€1,840
Financial charges
-€196,872
Result 2025
€62,314
raises the resultlowers the result
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.
From operations
-€4.2m
Investment
-€1.1m
Financing
+€5.3m
Cash 2024
€503,644
From operations (derived)
-€4.2m
Net result for the year
+€62,314
Depreciation
+€265,273
Receivables within one year
-€512,360
Deferred charges and accrued income
-€13,610
Provisions
+€50,778
Trade debts
-€84,043
Other debts
-€4.0m
Accrued charges and deferred income
+€6,906
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€5.3m
Debts after one year
+€5.3m
Cash 2025
€506,110
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,632,375 | €8,023,561 | +€1.4m | +21.0% |
| Fixed assets | 21/28 | €5,746,333 | €6,609,082 | +€862,750 | +15.0% |
| Intangible fixed assets | 21 | - | €109,922 | +€109,922 | |
| Tangible fixed assets | 22/27 | €5,743,833 | €6,496,661 | +€752,828 | +13.1% |
| Plant, machinery and equipment | 23 | €33,654 | €6,496,661 | +€6.5m | +19,204% |
| Assets under construction and advance payments | 27 | €5,710,178 | - | -€5.7m | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €886,042 | €1,414,478 | +€528,436 | +59.6% |
| Amounts receivable within one year | 40/41 | €321,394 | €833,754 | +€512,360 | +159% |
| Trade receivables | 40 | €310,332 | €414,202 | +€103,870 | +33.5% |
| Other amounts receivable | 41 | €11,062 | €419,552 | +€408,490 | +3,693% |
| Cash at bank and in hand | 54/58 | €503,644 | €506,110 | +€2,467 | +0.5% |
| Deferred charges and accrued income | 490/1 | €61,004 | €74,614 | +€13,610 | +22.3% |
| Total equity and liabilities | 10/49 | €6,632,375 | €8,023,561 | +€1.4m | +21.0% |
| Equity | 10/15 | €1,968,038 | €2,030,352 | +€62,314 | +3.2% |
| Contributions | 10/11 | €2,390,000 | €2,390,000 | = | 0.0% |
| Capital | 10 | €2,390,000 | €2,390,000 | = | 0.0% |
| Issued capital | 100 | €2,390,000 | €2,390,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€441,962 | -€379,648 | +€62,314 | +14.1% |
| Provisions and deferred taxes | 16 | €322,663 | €373,440 | +€50,778 | +15.7% |
| Provisions for liabilities and charges | 160/5 | €322,663 | €373,440 | +€50,778 | +15.7% |
| Environmental obligations | 163 | €322,663 | €373,440 | +€50,778 | +15.7% |
| Amounts payable | 17/49 | €4,341,674 | €5,619,768 | +€1.3m | +29.4% |
| Amounts payable after more than one year | 17 | - | €5,310,120 | +€5.3m | |
| Financial debts | 170/4 | - | €5,310,120 | +€5.3m | |
| Other loans | 174 | - | €5,310,120 | +€5.3m | |
| Amounts payable within one year | 42/48 | €4,195,845 | €156,913 | -€4.0m | -96.3% |
| Trade debts | 44 | €240,957 | €156,913 | -€84,043 | -34.9% |
| Suppliers | 440/4 | €240,957 | €156,913 | -€84,043 | -34.9% |
| Other amounts payable | 47/48 | €3,954,889 | - | -€4.0m | |
| Accrued charges and deferred income | 492/3 | €145,829 | €152,735 | +€6,906 | +4.7% |
| Operating income | 70/76A | €352,797 | €825,376 | +€472,580 | +134% |
| Turnover | 70 | €325,017 | €729,370 | +€404,354 | +124% |
| Other operating income | 74 | €27,780 | €96,006 | +€68,226 | +246% |
| Operating charges | 60/66A | €276,079 | €568,095 | +€292,016 | +106% |
| Services and other goods | 61 | €237,828 | €248,181 | +€10,353 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €265,273 | +€265,061 | +124,999% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €33,523 | €50,778 | +€17,255 | +51.5% |
| Other operating charges | 640/8 | €4,516 | €3,863 | -€653 | -14.5% |
| Operating profit (loss) | 9901 | €76,717 | €257,282 | +€180,564 | +235% |
| Financial income | 75/76B | €627 | €2,467 | +€1,840 | +293% |
| Recurring financial income | 75 | €627 | €2,467 | +€1,840 | +293% |
| Income from current assets | 751 | €616 | - | -€616 | |
| Other financial income | 752/9 | €11 | €2,467 | +€2,456 | +22,697% |
| Financial charges | 65/66B | €562 | €197,434 | +€196,872 | +35,026% |
| Recurring financial charges | 65 | €562 | €197,434 | +€196,872 | +35,026% |
| Debt charges | 650 | €562 | €197,162 | +€196,600 | +34,978% |
| Other financial charges | 652/9 | €0 | €272 | +€272 | +1,360,000% |
| Profit (loss) for the period before taxes | 9903 | €76,782 | €62,314 | -€14,468 | -18.8% |
| Profit (loss) for the period | 9904 | €76,782 | €62,314 | -€14,468 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €76,782 | €62,314 | -€14,468 | -18.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.