WILLY GEERTS: 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 GEERTS
Largest movements
- Receivables within one year +€40,612
up €40,612 (+37.7%), from €107,862 to €148,473
of which Trade receivables: +€43,014
- Tangible fixed assets -€25,610
down €25,610 (-9.6%), from €268,035 to €242,424
of which Land and buildings: -€24,715
- Reserves +€35,234
up €35,234 (+59.1%), from €59,640 to €94,874
- Other debts -€21,023
down €21,023 (-24.9%), from €84,533 to €63,511
- Debts after one year -€12,984
down €12,984 (-8.6%), from €151,033 to €138,049
- Tax, wage and social debts +€5,752
up €5,752 (+2,122%), from €271 to €6,023
- Short-term financial debts +€4,538
up €4,538 (+9.2%), from €49,134 to €53,672
- Depreciation -€12,130
down €12,130 (-27.0%), from €44,994 to €32,864
- Taxes +€8,258
up €8,258 (+5,919%), from €140 to €8,398
- Gross operating margin -€3,296
down €3,296 (-3.5%), from €95,182 to €91,886
- Financial charges +€2,207
up €2,207 (+20.6%), from €10,713 to €12,920
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 | €396,932 | €410,183 | +€13,252 | +3.3% |
| Fixed assets | 21/28 | €284,244 | €257,197 | -€27,047 | -9.5% |
| Intangible fixed assets | 21 | €15,813 | €14,375 | -€1,438 | -9.1% |
| Tangible fixed assets | 22/27 | €268,035 | €242,424 | -€25,610 | -9.6% |
| Land and buildings | 22 | €257,940 | €233,225 | -€24,715 | -9.6% |
| Furniture and vehicles | 24 | €214 | €4,903 | +€4,689 | +2,188% |
| Leasing and similar rights | 25 | €4,182 | - | -€4,182 | |
| Other tangible fixed assets | 26 | €5,699 | €4,297 | -€1,402 | -24.6% |
| Financial fixed assets | 28 | €397 | €398 | +€1 | +0.3% |
| Current assets | 29/58 | €112,688 | €152,987 | +€40,299 | +35.8% |
| Amounts receivable within one year | 40/41 | €107,862 | €148,473 | +€40,612 | +37.7% |
| Trade receivables | 40 | €105,023 | €148,037 | +€43,014 | +41.0% |
| Other amounts receivable | 41 | €2,838 | €436 | -€2,403 | -84.6% |
| Cash at bank and in hand | 54/58 | €1,535 | €1,399 | -€136 | -8.9% |
| Deferred charges and accrued income | 490/1 | €3,291 | €3,114 | -€177 | -5.4% |
| Total equity and liabilities | 10/49 | €396,932 | €410,183 | +€13,252 | +3.3% |
| Equity | 10/15 | €90,627 | €125,861 | +€35,234 | +38.9% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €59,640 | €94,874 | +€35,234 | +59.1% |
| Distributable reserves | 133 | €59,640 | €94,874 | +€35,234 | +59.1% |
| Amounts payable | 17/49 | €306,305 | €284,323 | -€21,983 | -7.2% |
| Amounts payable after more than one year | 17 | €151,033 | €138,049 | -€12,984 | -8.6% |
| Financial debts | 170/4 | €151,033 | €138,049 | -€12,984 | -8.6% |
| Amounts payable within one year | 42/48 | €154,809 | €146,234 | -€8,575 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €15,583 | €17,984 | +€2,401 | +15.4% |
| Financial debts | 43 | €49,134 | €53,672 | +€4,538 | +9.2% |
| Credit institutions | 430/8 | €49,134 | €53,672 | +€4,538 | +9.2% |
| Trade debts | 44 | €5,287 | €5,043 | -€243 | -4.6% |
| Suppliers | 440/4 | €5,287 | €5,043 | -€243 | -4.6% |
| Taxes, remuneration and social security | 45 | €271 | €6,023 | +€5,752 | +2,122% |
| Taxes | 450/3 | €271 | €6,023 | +€5,752 | +2,122% |
| Other amounts payable | 47/48 | €84,533 | €63,511 | -€21,023 | -24.9% |
| Accrued charges and deferred income | 492/3 | €463 | €40 | -€424 | -91.4% |
| Non-recurring operating income | 76A | - | €6,798 | +€6,798 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,994 | €32,864 | -€12,130 | -27.0% |
| Other operating charges | 640/8 | €3,017 | €2,536 | -€481 | -15.9% |
| Gross operating margin | 9900 | €95,182 | €91,886 | -€3,296 | -3.5% |
| Operating profit (loss) | 9901 | €47,171 | €56,486 | +€9,316 | +19.7% |
| Financial income | 75/76B | €50 | €65 | +€16 | +31.8% |
| Recurring financial income | 75 | €50 | €65 | +€16 | +31.8% |
| Financial charges | 65/66B | €10,713 | €12,920 | +€2,207 | +20.6% |
| Recurring financial charges | 65 | €10,713 | €12,920 | +€2,207 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €36,508 | €43,632 | +€7,124 | +19.5% |
| Income taxes | 67/77 | €140 | €8,398 | +€8,258 | +5,919% |
| Profit (loss) for the period | 9904 | €36,368 | €35,234 | -€1,134 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,368 | €35,234 | -€1,134 | -3.1% |
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 27 October 2026 via checked.be.