WILLY BRAILLARD: 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.
WILLY BRAILLARD
Largest movements
- Receivables within one year -€38,482
down €38,482 (-23.1%), from €166,286 to €127,805
of which Trade receivables: -€38,116
- Cash -€15,503
down €15,503 (-13.5%), from €115,259 to €99,755
mainly Trade debts (-€41,204) and Net result for the year (-€13,893)
- Trade debts -€41,204
down €41,204 (-21.8%), from €189,329 to €148,125
- Reserves -€12,000
down €12,000 (-32.6%), from €36,825 to €24,825
of which Distributable reserves: -€12,000
- Tax, wage and social debts -€10,704
down €10,704 (-54.6%), from €19,611 to €8,906
- Current portion of long-term debt +€7,951
up €7,951 (+288%), from €2,763 to €10,714
- Debts after one year +€7,736
new in 2025: €7,736
- Gross operating margin -€24,657
down €24,657, from €13,730 to -€10,927
- Taxes -€5,945
down €5,945 (-94.4%), from €6,297 to €352
- Depreciation +€403
up €403 (+42.5%), from €948 to €1,351
- Financial income -€281
down €281 (-36.9%), from €762 to €481
- Other operating charges +€147
up €147 (+20.1%), from €731 to €878
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 | €288,584 | €232,469 | -€56,115 | -19.4% |
| Fixed assets | 21/28 | €3,193 | €3,831 | +€638 | +20.0% |
| Tangible fixed assets | 22/27 | €1,322 | €1,960 | +€638 | +48.2% |
| Furniture and vehicles | 24 | €1,322 | €1,960 | +€638 | +48.2% |
| Financial fixed assets | 28 | €1,871 | €1,871 | = | 0.0% |
| Current assets | 29/58 | €285,391 | €228,639 | -€56,753 | -19.9% |
| Amounts receivable within one year | 40/41 | €166,286 | €127,805 | -€38,482 | -23.1% |
| Trade receivables | 40 | €158,764 | €120,647 | -€38,116 | -24.0% |
| Other amounts receivable | 41 | €7,523 | €7,157 | -€365 | -4.9% |
| Cash at bank and in hand | 54/58 | €115,259 | €99,755 | -€15,503 | -13.5% |
| Deferred charges and accrued income | 490/1 | €3,847 | €1,079 | -€2,768 | -72.0% |
| Total equity and liabilities | 10/49 | €288,584 | €232,469 | -€56,115 | -19.4% |
| Equity | 10/15 | €70,882 | €56,988 | -€13,893 | -19.6% |
| Contributions | 10/11 | €31,500 | €31,500 | = | 0.0% |
| Reserves | 13 | €36,825 | €24,825 | -€12,000 | -32.6% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €30,675 | €18,675 | -€12,000 | -39.1% |
| Profit (loss) carried forward | 14 | €2,557 | €664 | -€1,893 | -74.0% |
| Amounts payable | 17/49 | €217,703 | €175,481 | -€42,222 | -19.4% |
| Amounts payable after more than one year | 17 | - | €7,736 | +€7,736 | |
| Financial debts | 170/4 | - | €7,736 | +€7,736 | |
| Amounts payable within one year | 42/48 | €217,703 | €167,745 | -€49,957 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €2,763 | €10,714 | +€7,951 | +288% |
| Trade debts | 44 | €189,329 | €148,125 | -€41,204 | -21.8% |
| Suppliers | 440/4 | €189,329 | €148,125 | -€41,204 | -21.8% |
| Taxes, remuneration and social security | 45 | €19,611 | €8,906 | -€10,704 | -54.6% |
| Taxes | 450/3 | €19,611 | €8,906 | -€10,704 | -54.6% |
| Other amounts payable | 47/48 | €6,000 | - | -€6,000 | |
| Non-recurring operating income | 76A | €459 | - | -€459 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €948 | €1,351 | +€403 | +42.5% |
| Other operating charges | 640/8 | €731 | €878 | +€147 | +20.1% |
| Gross operating margin | 9900 | €13,730 | -€10,927 | -€24,657 | |
| Operating profit (loss) | 9901 | €12,051 | -€13,157 | -€25,208 | |
| Financial income | 75/76B | €762 | €481 | -€281 | -36.9% |
| Recurring financial income | 75 | €762 | €481 | -€281 | -36.9% |
| Financial charges | 65/66B | €779 | €866 | +€87 | +11.1% |
| Recurring financial charges | 65 | €779 | €866 | +€87 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €12,034 | -€13,542 | -€25,576 | |
| Income taxes | 67/77 | €6,297 | €352 | -€5,945 | -94.4% |
| Profit (loss) for the period | 9904 | €5,737 | -€13,893 | -€19,630 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,737 | -€13,893 | -€19,630 |
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 22 October 2026 via checked.be.