WILLY VERSTAPPEN: 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 VERSTAPPEN
Largest movements
- Tangible fixed assets +€61,848
up €61,848 (+32.5%), from €190,015 to €251,863
of which Land and buildings: +€63,653
- Cash -€38,856
down €38,856 (-55.9%), from €69,522 to €30,666
mainly Investment in fixed assets (net) (-€84,477) and Stocks and contracts (-€22,019)
- Stocks and contracts +€22,019
up €22,019 (+21.1%), from €104,416 to €126,435
- Receivables within one year +€14,255
up €14,255 (+20.5%), from €69,631 to €83,886
of which Trade receivables: +€12,251
- Reserves +€94,533
up €94,533 (+56.4%), from €167,679 to €262,212
of which Distributable reserves: +€94,533
- Profit (loss) carried forward -€92,903
down €92,903 (-100%), from €92,903 to €0
- Debts after one year +€27,304
up €27,304 (+41.4%), from €66,016 to €93,320
- Trade debts +€26,572
up €26,572 (+59.2%), from €44,862 to €71,434
- Accrued charges and deferred income +€6,223
up €6,223 (+1,818%), from €342 to €6,565
- Gross operating margin -€9,121
down €9,121 (-7.5%), from €121,819 to €112,698
- Taxes -€5,855
down €5,855 (-91.4%), from €6,408 to €552
- Depreciation +€4,053
up €4,053 (+21.8%), from €18,576 to €22,629
- Staff costs +€2,153
up €2,153 (+3.0%), from €71,989 to €74,142
- Other operating charges +€1,424
up €1,424 (+24.1%), from €5,906 to €7,330
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 | €441,972 | €502,471 | +€60,499 | +13.7% |
| Fixed assets | 21/28 | €192,410 | €254,257 | +€61,848 | +32.1% |
| Tangible fixed assets | 22/27 | €190,015 | €251,863 | +€61,848 | +32.5% |
| Land and buildings | 22 | €180,716 | €244,369 | +€63,653 | +35.2% |
| Plant, machinery and equipment | 23 | €8,309 | €6,912 | -€1,397 | -16.8% |
| Furniture and vehicles | 24 | €990 | €582 | -€408 | -41.2% |
| Financial fixed assets | 28 | €2,395 | €2,395 | = | 0.0% |
| Current assets | 29/58 | €249,563 | €248,214 | -€1,349 | -0.5% |
| Stocks and contracts in progress | 3 | €104,416 | €126,435 | +€22,019 | +21.1% |
| Stocks | 30/36 | €104,416 | €126,435 | +€22,019 | +21.1% |
| Amounts receivable within one year | 40/41 | €69,631 | €83,886 | +€14,255 | +20.5% |
| Trade receivables | 40 | €59,539 | €71,790 | +€12,251 | +20.6% |
| Other amounts receivable | 41 | €10,093 | €12,096 | +€2,004 | +19.9% |
| Cash at bank and in hand | 54/58 | €69,522 | €30,666 | -€38,856 | -55.9% |
| Deferred charges and accrued income | 490/1 | €5,993 | €7,226 | +€1,233 | +20.6% |
| Total equity and liabilities | 10/49 | €441,972 | €502,471 | +€60,499 | +13.7% |
| Equity | 10/15 | €291,782 | €293,412 | +€1,631 | +0.6% |
| Contributions | 10/11 | €31,200 | €31,200 | = | 0.0% |
| Reserves | 13 | €167,679 | €262,212 | +€94,533 | +56.4% |
| Tax-exempt reserves | 132 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €165,679 | €260,212 | +€94,533 | +57.1% |
| Profit (loss) carried forward | 14 | €92,903 | €0 | -€92,903 | -100% |
| Amounts payable | 17/49 | €150,190 | €209,059 | +€58,868 | +39.2% |
| Amounts payable after more than one year | 17 | €66,016 | €93,320 | +€27,304 | +41.4% |
| Financial debts | 170/4 | €66,016 | €93,320 | +€27,304 | +41.4% |
| Amounts payable within one year | 42/48 | €83,832 | €109,174 | +€25,342 | +30.2% |
| Current portion of amounts payable after more than one year | 42 | €32,079 | €28,226 | -€3,853 | -12.0% |
| Trade debts | 44 | €44,862 | €71,434 | +€26,572 | +59.2% |
| Suppliers | 440/4 | €44,862 | €71,434 | +€26,572 | +59.2% |
| Taxes, remuneration and social security | 45 | €452 | €3,132 | +€2,680 | +594% |
| Taxes | 450/3 | €452 | €31 | -€420 | -93.1% |
| Remuneration and social security | 454/9 | €0 | €3,100 | +€3,100 | |
| Other amounts payable | 47/48 | €6,439 | €6,383 | -€56 | -0.9% |
| Accrued charges and deferred income | 492/3 | €342 | €6,565 | +€6,223 | +1,818% |
| Remuneration, social security and pensions | 62 | €71,989 | €74,142 | +€2,153 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,576 | €22,629 | +€4,053 | +21.8% |
| Other operating charges | 640/8 | €5,906 | €7,330 | +€1,424 | +24.1% |
| Gross operating margin | 9900 | €121,819 | €112,698 | -€9,121 | -7.5% |
| Operating profit (loss) | 9901 | €25,347 | €8,596 | -€16,751 | -66.1% |
| Financial income | 75/76B | €1,749 | €1,292 | -€457 | -26.1% |
| Recurring financial income | 75 | €1,749 | €1,292 | -€457 | -26.1% |
| Financial charges | 65/66B | €6,977 | €7,705 | +€728 | +10.4% |
| Recurring financial charges | 65 | €6,977 | €7,705 | +€728 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €20,119 | €2,183 | -€17,936 | -89.2% |
| Income taxes | 67/77 | €6,408 | €552 | -€5,855 | -91.4% |
| Profit (loss) for the period | 9904 | €13,711 | €1,631 | -€12,081 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,711 | €1,631 | -€12,081 | -88.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.