WILTHO: 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.
WILTHO
Largest movements
- Cash +€94,554
up €94,554 (+34.8%), from €271,733 to €366,287
mainly Depreciation (+€92,692) and Net result for the year (+€63,762)
- Tangible fixed assets -€84,909
down €84,909 (-4.0%), from €2.1m to €2.0m
of which Land and buildings: -€65,094
- Debts after one year -€67,882
down €67,882 (-6.4%), from €1.1m to €991,691
of which Financial debts: -€67,882
- Reserves +€63,762
up €63,762 (+12.8%), from €496,450 to €560,213
- Gross operating margin +€46,442
up €46,442 (+17.4%), from €267,547 to €313,989
- Write-downs +€30,932
new in 2025: €30,932
- Other operating charges +€6,875
up €6,875 (+21.6%), from €31,889 to €38,764
- Taxes +€5,907
up €5,907 (+21.5%), from €27,533 to €33,440
- Financial charges -€4,818
down €4,818 (-8.0%), from €59,976 to €55,158
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 | €2,447,912 | €2,461,698 | +€13,786 | +0.6% |
| Fixed assets | 21/28 | €2,117,742 | €2,032,833 | -€84,909 | -4.0% |
| Tangible fixed assets | 22/27 | €2,117,742 | €2,032,833 | -€84,909 | -4.0% |
| Land and buildings | 22 | €1,995,503 | €1,930,408 | -€65,094 | -3.3% |
| Plant, machinery and equipment | 23 | €27,458 | €31,420 | +€3,962 | +14.4% |
| Furniture and vehicles | 24 | €94,781 | €71,005 | -€23,776 | -25.1% |
| Current assets | 29/58 | €330,170 | €428,864 | +€98,694 | +29.9% |
| Amounts receivable within one year | 40/41 | €40,835 | €46,806 | +€5,971 | +14.6% |
| Trade receivables | 40 | €5,041 | €25,305 | +€20,264 | +402.0% |
| Other amounts receivable | 41 | €35,794 | €21,501 | -€14,293 | -39.9% |
| Cash at bank and in hand | 54/58 | €271,733 | €366,287 | +€94,554 | +34.8% |
| Deferred charges and accrued income | 490/1 | €17,602 | €15,771 | -€1,830 | -10.4% |
| Total equity and liabilities | 10/49 | €2,447,912 | €2,461,698 | +€13,786 | +0.6% |
| Equity | 10/15 | €792,050 | €855,813 | +€63,762 | +8.1% |
| Contributions | 10/11 | €295,600 | €295,600 | = | 0.0% |
| Reserves | 13 | €496,450 | €560,213 | +€63,762 | +12.8% |
| Distributable reserves | 133 | €496,450 | €560,213 | +€63,762 | +12.8% |
| Amounts payable | 17/49 | €1,655,861 | €1,605,885 | -€49,976 | -3.0% |
| Amounts payable after more than one year | 17 | €1,059,573 | €991,691 | -€67,882 | -6.4% |
| Financial debts | 170/4 | €1,042,370 | €974,487 | -€67,882 | -6.5% |
| Other amounts payable | 178/9 | €17,203 | €17,203 | = | 0.0% |
| Amounts payable within one year | 42/48 | €595,494 | €614,194 | +€18,700 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €73,251 | €67,882 | -€5,368 | -7.3% |
| Trade debts | 44 | €1,169 | €1,098 | -€71 | -6.1% |
| Suppliers | 440/4 | €1,169 | €1,098 | -€71 | -6.1% |
| Taxes, remuneration and social security | 45 | €11,371 | €18,530 | +€7,159 | +63.0% |
| Taxes | 450/3 | €11,371 | €18,530 | +€7,159 | +63.0% |
| Other amounts payable | 47/48 | €509,703 | €526,684 | +€16,981 | +3.3% |
| Accrued charges and deferred income | 492/3 | €794 | - | -€794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,977 | €92,692 | +€715 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €30,932 | +€30,932 | |
| Other operating charges | 640/8 | €31,889 | €38,764 | +€6,875 | +21.6% |
| Non-recurring operating charges | 66A | €32 | - | -€32 | |
| Gross operating margin | 9900 | €267,547 | €313,989 | +€46,442 | +17.4% |
| Operating profit (loss) | 9901 | €143,649 | €151,601 | +€7,952 | +5.5% |
| Financial income | 75/76B | €5 | €759 | +€754 | +15651.5% |
| Recurring financial income | 75 | €5 | €759 | +€754 | +15651.5% |
| Financial charges | 65/66B | €59,976 | €55,158 | -€4,818 | -8.0% |
| Recurring financial charges | 65 | €59,976 | €55,158 | -€4,818 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €83,678 | €97,202 | +€13,524 | +16.2% |
| Income taxes | 67/77 | €27,533 | €33,440 | +€5,907 | +21.5% |
| Profit (loss) for the period | 9904 | €56,145 | €63,762 | +€7,617 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,145 | €63,762 | +€7,617 | +13.6% |
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 4 October 2026 via checked.be.