Wilpol: what changed
Two fiscal 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.
Wilpol
Largest movements
- Current investments -€230,000
down €230,000 (-100.0%), from €230,000 to €0
- Tangible fixed assets +€197,227
up €197,227 (+10.1%), from €2.0m to €2.2m
- Cash -€40,505
down €40,505 (-69.2%), from €58,549 to €18,044
mainly Investment in fixed assets (net) (-€279,231) and Other debts (-€110,642)
- Other debts -€110,642
down €110,642 (-30.5%), from €362,379 to €251,737
- Reserves +€59,729
up €59,729 (+4.7%), from €1.3m to €1.3m
of which Distributable reserves: +€80,299
- Gross operating margin +€26,248
up €26,248 (+17.0%), from €154,822 to €181,070
- Financial charges -€21,135
down €21,135 (-76.3%), from €27,691 to €6,556
- Taxes -€6,007
down €6,007 (-13.7%), from €43,777 to €37,770
- Depreciation +€5,916
up €5,916 (+7.8%), from €76,088 to €82,004
- Financial income -€3,710
down €3,710 (-73.4%), from €5,051 to €1,341
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.
Cash bridge derived
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 | €2,247,736 | €2,170,922 | -€76,814 | -3.4% |
| Fixed assets | 21/28 | €1,955,650 | €2,152,877 | +€197,227 | +10.1% |
| Tangible fixed assets | 22/27 | €1,955,650 | €2,152,877 | +€197,227 | +10.1% |
| Land and buildings | 22 | €1,955,650 | €2,152,877 | +€197,227 | +10.1% |
| Current assets | 29/58 | €292,086 | €18,044 | -€274,042 | -93.8% |
| Amounts receivable within one year | 40/41 | €2,570 | €0 | -€2,570 | -100.0% |
| Trade receivables | 40 | €142 | €0 | -€142 | -100.0% |
| Other amounts receivable | 41 | €2,428 | €0 | -€2,428 | -100.0% |
| Current investments | 50/53 | €230,000 | €0 | -€230,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €58,549 | €18,044 | -€40,505 | -69.2% |
| Deferred charges and accrued income | 490/1 | €966 | €0 | -€966 | -100.0% |
| Total equity and liabilities | 10/49 | €2,247,736 | €2,170,922 | -€76,814 | -3.4% |
| Equity | 10/15 | €1,458,337 | €1,518,067 | +€59,729 | +4.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,258,337 | €1,318,067 | +€59,729 | +4.7% |
| Tax-exempt reserves | 132 | €854,517 | €833,948 | -€20,569 | -2.4% |
| Distributable reserves | 133 | €403,820 | €484,119 | +€80,299 | +19.9% |
| Provisions and deferred taxes | 16 | €414,265 | €392,908 | -€21,357 | -5.2% |
| Deferred taxes | 168 | €414,265 | €392,908 | -€21,357 | -5.2% |
| Amounts payable | 17/49 | €375,133 | €259,947 | -€115,186 | -30.7% |
| Amounts payable within one year | 42/48 | €373,067 | €258,784 | -€114,283 | -30.6% |
| Trade debts | 44 | €50 | €0 | -€50 | -100.0% |
| Suppliers | 440/4 | €50 | €0 | -€50 | -100.0% |
| Taxes, remuneration and social security | 45 | €10,638 | €7,047 | -€3,592 | -33.8% |
| Taxes | 450/3 | €10,638 | €7,047 | -€3,592 | -33.8% |
| Other amounts payable | 47/48 | €362,379 | €251,737 | -€110,642 | -30.5% |
| Accrued charges and deferred income | 492/3 | €2,066 | €1,163 | -€903 | -43.7% |
| Non-recurring operating income | 76A | €63,093 | €99,869 | +€36,775 | +58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,088 | €82,004 | +€5,916 | +7.8% |
| Other operating charges | 640/8 | €18,429 | €17,709 | -€720 | -3.9% |
| Gross operating margin | 9900 | €154,822 | €181,070 | +€26,248 | +17.0% |
| Operating profit (loss) | 9901 | €60,305 | €81,356 | +€21,052 | +34.9% |
| Financial income | 75/76B | €5,051 | €1,341 | -€3,710 | -73.4% |
| Recurring financial income | 75 | €5,051 | €1,341 | -€3,710 | -73.4% |
| Financial charges | 65/66B | €27,691 | €6,556 | -€21,135 | -76.3% |
| Recurring financial charges | 65 | €27,691 | €6,556 | -€21,135 | -76.3% |
| Profit (loss) for the period before taxes | 9903 | €37,665 | €76,142 | +€38,478 | +102.2% |
| Transfer from deferred taxes | 780 | €52,666 | €46,324 | -€6,342 | -12.0% |
| Transfer to deferred taxes | 680 | €14,523 | €24,967 | +€10,444 | +71.9% |
| Income taxes | 67/77 | €43,777 | €37,770 | -€6,007 | -13.7% |
| Profit (loss) for the period | 9904 | €32,031 | €59,729 | +€27,699 | +86.5% |
| Transfer from tax-exempt reserves | 789 | €105,031 | €95,471 | -€9,560 | -9.1% |
| Transfer to tax-exempt reserves | 689 | €43,570 | €74,902 | +€31,332 | +71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €93,491 | €80,299 | -€13,193 | -14.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.