WILLY DE SMET: 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 DE SMET
Largest movements
- Cash -€50,896
down €50,896 (-78.8%), from €64,599 to €13,703
mainly Investment in fixed assets (net) (-€48,465) and Debts after one year (-€40,000)
- Tangible fixed assets +€36,892
up €36,892 (+12.9%), from €286,489 to €323,381
of which Furniture and vehicles: +€46,112
- Debts after one year -€40,000
down €40,000 (-28.6%), from €140,000 to €100,000
- Reserves +€24,326
up €24,326 (+13.0%), from €187,352 to €211,678
- Other debts +€5,798
up €5,798 (+75.0%), from €7,734 to €13,532
- Tax, wage and social debts -€3,996
down €3,996 (-33.2%), from €12,026 to €8,030
- Gross operating margin +€3,860
up €3,860 (+5.6%), from €69,219 to €73,079
- Depreciation +€1,056
up €1,056 (+10.0%), from €10,517 to €11,573
- Financial charges -€1,019
down €1,019 (-24.9%), from €4,096 to €3,077
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 | €353,735 | €339,758 | -€13,977 | -4.0% |
| Fixed assets | 21/28 | €286,939 | €323,831 | +€36,892 | +12.9% |
| Tangible fixed assets | 22/27 | €286,489 | €323,381 | +€36,892 | +12.9% |
| Land and buildings | 22 | €282,633 | €273,413 | -€9,220 | -3.3% |
| Furniture and vehicles | 24 | €3,856 | €49,968 | +€46,112 | +1,196% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €66,796 | €15,927 | -€50,869 | -76.2% |
| Current investments | 50/53 | €1,746 | €1,746 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,599 | €13,703 | -€50,896 | -78.8% |
| Deferred charges and accrued income | 490/1 | €451 | €477 | +€26 | +5.8% |
| Total equity and liabilities | 10/49 | €353,735 | €339,758 | -€13,977 | -4.0% |
| Equity | 10/15 | €193,549 | €217,875 | +€24,326 | +12.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €187,352 | €211,678 | +€24,326 | +13.0% |
| Distributable reserves | 133 | €187,352 | €211,678 | +€24,326 | +13.0% |
| Amounts payable | 17/49 | €160,186 | €121,883 | -€38,304 | -23.9% |
| Amounts payable after more than one year | 17 | €140,000 | €100,000 | -€40,000 | -28.6% |
| Financial debts | 170/4 | €140,000 | €100,000 | -€40,000 | -28.6% |
| Amounts payable within one year | 42/48 | €20,186 | €21,883 | +€1,696 | +8.4% |
| Trade debts | 44 | €426 | €320 | -€106 | -24.8% |
| Suppliers | 440/4 | €426 | €320 | -€106 | -24.8% |
| Taxes, remuneration and social security | 45 | €12,026 | €8,030 | -€3,996 | -33.2% |
| Taxes | 450/3 | €12,026 | €8,030 | -€3,996 | -33.2% |
| Other amounts payable | 47/48 | €7,734 | €13,532 | +€5,798 | +75.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,517 | €11,573 | +€1,056 | +10.0% |
| Other operating charges | 640/8 | €1,576 | €2,276 | +€701 | +44.5% |
| Non-recurring operating charges | 66A | - | €3,856 | +€3,856 | |
| Gross operating margin | 9900 | €69,219 | €73,079 | +€3,860 | +5.6% |
| Operating profit (loss) | 9901 | €57,126 | €55,374 | -€1,752 | -3.1% |
| Financial income | 75/76B | €133 | €258 | +€125 | +93.4% |
| Recurring financial income | 75 | €133 | €258 | +€125 | +93.4% |
| Financial charges | 65/66B | €4,096 | €3,077 | -€1,019 | -24.9% |
| Recurring financial charges | 65 | €4,096 | €3,077 | -€1,019 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €53,164 | €52,556 | -€608 | -1.1% |
| Income taxes | 67/77 | €17,273 | €16,943 | -€330 | -1.9% |
| Profit (loss) for the period | 9904 | €35,890 | €35,612 | -€278 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,890 | €35,612 | -€278 | -0.8% |
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 24 October 2026 via checked.be.