WILLS MERCH: 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.
WILLS MERCH
Largest movements
- Stocks and contracts -€22,420
down €22,420 (-27.9%), from €80,341 to €57,921
- Cash +€17,799
up €17,799 (+70.6%), from €25,207 to €43,007
mainly Stocks and contracts (+€22,420) and Receivables within one year (+€6,026)
- Receivables within one year -€6,026
down €6,026 (-70.0%), from €8,607 to €2,580
of which Other amounts receivable: -€4,290
- Tangible fixed assets +€2,442
up €2,442 (+32.0%), from €7,637 to €10,079
of which Other tangible fixed assets: +€1,516
- Deferred charges and accrued income -€1,637
down €1,637 (-58.2%), from €2,815 to €1,178
- Other debts -€9,164
down €9,164 (-13.2%), from €69,683 to €60,519
- Reserves +€5,081
up €5,081 (+14.7%), from €34,678 to €39,760
- Trade debts -€4,931
down €4,931 (-42.2%), from €11,681 to €6,750
- Tax, wage and social debts -€1,984
down €1,984 (-32.3%), from €6,149 to €4,165
of which Remuneration and social security: -€1,344
- Financial charges -€5,078
down €5,078 (-38.1%), from €13,328 to €8,250
- Gross operating margin -€1,934
down €1,934 (-9.6%), from €20,237 to €18,303
- Taxes +€647
up €647 (+40.0%), from €1,619 to €2,266
- Depreciation +€409
up €409 (+34.2%), from €1,196 to €1,605
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 | €124,607 | €114,765 | -€9,842 | -7.9% |
| Fixed assets | 21/28 | €7,637 | €10,079 | +€2,442 | +32.0% |
| Tangible fixed assets | 22/27 | €7,637 | €10,079 | +€2,442 | +32.0% |
| Furniture and vehicles | 24 | €1,240 | €2,166 | +€926 | +74.7% |
| Other tangible fixed assets | 26 | €6,398 | €7,914 | +€1,516 | +23.7% |
| Current assets | 29/58 | €116,970 | €104,686 | -€12,284 | -10.5% |
| Stocks and contracts in progress | 3 | €80,341 | €57,921 | -€22,420 | -27.9% |
| Stocks | 30/36 | €80,341 | €57,921 | -€22,420 | -27.9% |
| Amounts receivable within one year | 40/41 | €8,607 | €2,580 | -€6,026 | -70.0% |
| Trade receivables | 40 | €4,253 | €2,516 | -€1,737 | -40.8% |
| Other amounts receivable | 41 | €4,354 | €64 | -€4,290 | -98.5% |
| Cash at bank and in hand | 54/58 | €25,207 | €43,007 | +€17,799 | +70.6% |
| Deferred charges and accrued income | 490/1 | €2,815 | €1,178 | -€1,637 | -58.2% |
| Total equity and liabilities | 10/49 | €124,607 | €114,765 | -€9,842 | -7.9% |
| Equity | 10/15 | €34,778 | €39,860 | +€5,081 | +14.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €34,678 | €39,760 | +€5,081 | +14.7% |
| Distributable reserves | 133 | €34,678 | €39,760 | +€5,081 | +14.7% |
| Amounts payable | 17/49 | €89,829 | €74,905 | -€14,923 | -16.6% |
| Amounts payable within one year | 42/48 | €87,512 | €71,434 | -€16,079 | -18.4% |
| Trade debts | 44 | €11,681 | €6,750 | -€4,931 | -42.2% |
| Suppliers | 440/4 | €11,681 | €6,750 | -€4,931 | -42.2% |
| Taxes, remuneration and social security | 45 | €6,149 | €4,165 | -€1,984 | -32.3% |
| Taxes | 450/3 | €4,804 | €4,165 | -€640 | -13.3% |
| Remuneration and social security | 454/9 | €1,344 | €0 | -€1,344 | -100% |
| Other amounts payable | 47/48 | €69,683 | €60,519 | -€9,164 | -13.2% |
| Accrued charges and deferred income | 492/3 | €2,316 | €3,472 | +€1,155 | +49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,196 | €1,605 | +€409 | +34.2% |
| Other operating charges | 640/8 | €1,055 | €1,216 | +€161 | +15.3% |
| Gross operating margin | 9900 | €20,237 | €18,303 | -€1,934 | -9.6% |
| Operating profit (loss) | 9901 | €17,986 | €15,482 | -€2,505 | -13.9% |
| Financial income | 75/76B | €4 | €116 | +€112 | +2,729% |
| Recurring financial income | 75 | €4 | €116 | +€112 | +2,729% |
| Financial charges | 65/66B | €13,328 | €8,250 | -€5,078 | -38.1% |
| Recurring financial charges | 65 | €13,328 | €8,250 | -€5,078 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €4,662 | €7,347 | +€2,685 | +57.6% |
| Income taxes | 67/77 | €1,619 | €2,266 | +€647 | +40.0% |
| Profit (loss) for the period | 9904 | €3,043 | €5,081 | +€2,038 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,043 | €5,081 | +€2,038 | +67.0% |
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 31 October 2026 via checked.be.