WILLOW: 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.
WILLOW
Largest movements
- Receivables within one year -€10,892
down €10,892 (-30.7%), from €35,455 to €24,563
of which Other amounts receivable: -€14,703
- Cash +€8,173
up €8,173 (+16.2%), from €50,340 to €58,512
mainly Net result for the year (+€32,510) and Receivables within one year (+€10,892)
- Tangible fixed assets -€1,991
down €1,991 (-57.0%), from €3,495 to €1,503
of which Plant, machinery and equipment: -€1,152
- Trade debts -€5,972
down €5,972 (-77.7%), from €7,684 to €1,712
- Tax, wage and social debts +€2,769
up €2,769 (+30.0%), from €9,230 to €11,999
of which Taxes: +€2,713
- Other debts -€1,333
down €1,333 (-3.9%), from €34,413 to €33,080
- Gross operating margin +€1,976
up €1,976 (+4.4%), from €45,142 to €47,118
- Financial income -€1,336
down €1,336 (-99.6%), from €1,342 to €5
- Taxes +€879
up €879 (+9.1%), from €9,662 to €10,541
- Other operating charges +€679
up €679 (+180%), from €376 to €1,055
- Financial charges +€579
up €579 (+130%), from €446 to €1,026
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 | €91,848 | €87,092 | -€4,756 | -5.2% |
| Fixed assets | 21/28 | €3,495 | €1,503 | -€1,991 | -57.0% |
| Tangible fixed assets | 22/27 | €3,495 | €1,503 | -€1,991 | -57.0% |
| Plant, machinery and equipment | 23 | €1,739 | €587 | -€1,152 | -66.2% |
| Furniture and vehicles | 24 | €1,756 | €916 | -€840 | -47.8% |
| Current assets | 29/58 | €88,353 | €85,588 | -€2,765 | -3.1% |
| Amounts receivable within one year | 40/41 | €35,455 | €24,563 | -€10,892 | -30.7% |
| Trade receivables | 40 | €20,752 | €24,563 | +€3,811 | +18.4% |
| Other amounts receivable | 41 | €14,703 | €0 | -€14,703 | -100% |
| Cash at bank and in hand | 54/58 | €50,340 | €58,512 | +€8,173 | +16.2% |
| Deferred charges and accrued income | 490/1 | €2,558 | €2,513 | -€46 | -1.8% |
| Total equity and liabilities | 10/49 | €91,848 | €87,092 | -€4,756 | -5.2% |
| Equity | 10/15 | €40,000 | €40,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €38,000 | €38,000 | = | 0.0% |
| Distributable reserves | 133 | €38,000 | €38,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,848 | €47,092 | -€4,756 | -9.2% |
| Amounts payable within one year | 42/48 | €51,328 | €46,792 | -€4,536 | -8.8% |
| Trade debts | 44 | €7,684 | €1,712 | -€5,972 | -77.7% |
| Suppliers | 440/4 | €7,684 | €1,712 | -€5,972 | -77.7% |
| Taxes, remuneration and social security | 45 | €9,230 | €11,999 | +€2,769 | +30.0% |
| Taxes | 450/3 | €5,998 | €8,711 | +€2,713 | +45.2% |
| Remuneration and social security | 454/9 | €3,232 | €3,288 | +€56 | +1.7% |
| Other amounts payable | 47/48 | €34,413 | €33,080 | -€1,333 | -3.9% |
| Accrued charges and deferred income | 492/3 | €520 | €300 | -€220 | -42.3% |
| Remuneration, social security and pensions | 62 | €250 | €0 | -€250 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,336 | €1,002 | -€334 | -25.0% |
| Other operating charges | 640/8 | €376 | €1,055 | +€679 | +180% |
| Non-recurring operating charges | 66A | - | €990 | +€990 | |
| Gross operating margin | 9900 | €45,142 | €47,118 | +€1,976 | +4.4% |
| Operating profit (loss) | 9901 | €43,180 | €44,071 | +€891 | +2.1% |
| Financial income | 75/76B | €1,342 | €5 | -€1,336 | -99.6% |
| Recurring financial income | 75 | €1,342 | €5 | -€1,336 | -99.6% |
| Financial charges | 65/66B | €446 | €1,026 | +€579 | +130% |
| Recurring financial charges | 65 | €446 | €1,026 | +€579 | +130% |
| Profit (loss) for the period before taxes | 9903 | €44,075 | €43,051 | -€1,024 | -2.3% |
| Income taxes | 67/77 | €9,662 | €10,541 | +€879 | +9.1% |
| Profit (loss) for the period | 9904 | €34,413 | €32,510 | -€1,903 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,413 | €32,510 | -€1,903 | -5.5% |
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 15 October 2026 via checked.be.