Willy Van Dun: 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 Van Dun
Largest movements
- Receivables within one year +€90,088
up €90,088 (+55.8%), from €161,477 to €251,565
of which Trade receivables: +€93,162
- Cash +€64,015
up €64,015 (+65.1%), from €98,343 to €162,357
mainly Depreciation (+€193,684) and Net result for the year (+€105,568)
- Tangible fixed assets -€39,614
down €39,614 (-8.1%), from €488,253 to €448,639
of which Leasing and similar rights: -€113,000
- Reserves +€94,069
up €94,069 (+92.0%), from €102,272 to €196,340
- Other debts +€73,170
up €73,170 (+48.6%), from €150,575 to €223,745
- Trade debts -€58,954
down €58,954 (-60.3%), from €97,755 to €38,801
- Debts after one year -€46,934
down €46,934 (-17.2%), from €272,629 to €225,695
- Current portion of long-term debt +€24,024
up €24,024 (+19.9%), from €120,906 to €144,931
- Gross operating margin +€161,503
up €161,503 (+84.1%), from €192,117 to €353,620
- Taxes +€28,455
up €28,455 (+212%), from €13,441 to €41,895
- Depreciation +€16,245
up €16,245 (+9.2%), from €177,439 to €193,684
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 | €757,480 | €876,496 | +€119,016 | +15.7% |
| Fixed assets | 21/28 | €489,870 | €454,586 | -€35,284 | -7.2% |
| Intangible fixed assets | 21 | €1,617 | €947 | -€670 | -41.4% |
| Tangible fixed assets | 22/27 | €488,253 | €448,639 | -€39,614 | -8.1% |
| Plant, machinery and equipment | 23 | €10,186 | €9,574 | -€613 | -6.0% |
| Furniture and vehicles | 24 | €199,019 | €273,018 | +€73,999 | +37.2% |
| Leasing and similar rights | 25 | €279,047 | €166,047 | -€113,000 | -40.5% |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €267,610 | €421,910 | +€154,299 | +57.7% |
| Amounts receivable within one year | 40/41 | €161,477 | €251,565 | +€90,088 | +55.8% |
| Trade receivables | 40 | €140,716 | €233,878 | +€93,162 | +66.2% |
| Other amounts receivable | 41 | €20,761 | €17,687 | -€3,074 | -14.8% |
| Cash at bank and in hand | 54/58 | €98,343 | €162,357 | +€64,015 | +65.1% |
| Deferred charges and accrued income | 490/1 | €7,791 | €7,988 | +€197 | +2.5% |
| Total equity and liabilities | 10/49 | €757,480 | €876,496 | +€119,016 | +15.7% |
| Equity | 10/15 | €100,772 | €206,340 | +€105,568 | +105% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €102,272 | €196,340 | +€94,069 | +92.0% |
| Distributable reserves | 133 | €102,272 | €196,340 | +€94,069 | +92.0% |
| Profit (loss) carried forward | 14 | -€11,500 | - | +€11,500 | |
| Amounts payable | 17/49 | €656,709 | €670,156 | +€13,447 | +2.0% |
| Amounts payable after more than one year | 17 | €272,629 | €225,695 | -€46,934 | -17.2% |
| Financial debts | 170/4 | €272,629 | €225,695 | -€46,934 | -17.2% |
| Amounts payable within one year | 42/48 | €384,080 | €444,461 | +€60,381 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €120,906 | €144,931 | +€24,024 | +19.9% |
| Trade debts | 44 | €97,755 | €38,801 | -€58,954 | -60.3% |
| Suppliers | 440/4 | €97,755 | €38,801 | -€58,954 | -60.3% |
| Taxes, remuneration and social security | 45 | €14,843 | €36,984 | +€22,141 | +149% |
| Taxes | 450/3 | €14,843 | €36,984 | +€22,141 | +149% |
| Other amounts payable | 47/48 | €150,575 | €223,745 | +€73,170 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,439 | €193,684 | +€16,245 | +9.2% |
| Other operating charges | 640/8 | €600 | €1,254 | +€653 | +109% |
| Gross operating margin | 9900 | €192,117 | €353,620 | +€161,503 | +84.1% |
| Operating profit (loss) | 9901 | €14,078 | €158,682 | +€144,604 | +1,027% |
| Financial income | 75/76B | €1 | €50 | +€49 | +7,982% |
| Recurring financial income | 75 | €1 | €50 | +€49 | +7,982% |
| Financial charges | 65/66B | €12,138 | €11,269 | -€869 | -7.2% |
| Recurring financial charges | 65 | €12,138 | €11,269 | -€869 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €1,941 | €147,464 | +€145,523 | +7,497% |
| Income taxes | 67/77 | €13,441 | €41,895 | +€28,455 | +212% |
| Profit (loss) for the period | 9904 | -€11,500 | €105,568 | +€117,068 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,500 | €105,568 | +€117,068 |
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 13 October 2026 via checked.be.