Wouter Willaert: 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.
Wouter Willaert
Largest movements
- Cash +€148,528
up €148,528 (+75.6%), from €196,508 to €345,037
mainly Net result for the year (+€166,882) and Receivables within one year (+€6,482)
- Receivables within one year -€6,482
down €6,482 (-19.6%), from €33,035 to €26,553
of which Trade receivables: -€14,157
- Reserves +€166,882
up €166,882 (+88.5%), from €188,600 to €355,482
- Tax, wage and social debts -€25,500
down €25,500 (-58.7%), from €43,437 to €17,936
of which Taxes: -€28,308
- Gross operating margin -€30,598
down €30,598 (-12.3%), from €249,732 to €219,134
- Taxes -€7,461
down €7,461 (-13.1%), from €56,885 to €49,425
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 | €234,227 | €374,422 | +€140,195 | +59.9% |
| Fixed assets | 21/28 | €4,108 | €2,257 | -€1,851 | -45.1% |
| Tangible fixed assets | 22/27 | €4,108 | €2,257 | -€1,851 | -45.1% |
| Furniture and vehicles | 24 | €4,108 | €2,257 | -€1,851 | -45.1% |
| Current assets | 29/58 | €230,119 | €372,165 | +€142,046 | +61.7% |
| Amounts receivable within one year | 40/41 | €33,035 | €26,553 | -€6,482 | -19.6% |
| Trade receivables | 40 | €33,033 | €18,876 | -€14,157 | -42.9% |
| Other amounts receivable | 41 | €2 | €7,677 | +€7,675 | +383733.0% |
| Cash at bank and in hand | 54/58 | €196,508 | €345,037 | +€148,528 | +75.6% |
| Deferred charges and accrued income | 490/1 | €575 | €575 | = | 0.0% |
| Total equity and liabilities | 10/49 | €234,227 | €374,422 | +€140,195 | +59.9% |
| Equity | 10/15 | €189,600 | €356,482 | +€166,882 | +88.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €188,600 | €355,482 | +€166,882 | +88.5% |
| Distributable reserves | 133 | €188,600 | €355,482 | +€166,882 | +88.5% |
| Amounts payable | 17/49 | €44,627 | €17,939 | -€26,687 | -59.8% |
| Amounts payable within one year | 42/48 | €44,627 | €17,939 | -€26,687 | -59.8% |
| Trade debts | 44 | €775 | €3 | -€772 | -99.6% |
| Suppliers | 440/4 | €775 | €3 | -€772 | -99.6% |
| Taxes, remuneration and social security | 45 | €43,437 | €17,936 | -€25,500 | -58.7% |
| Taxes | 450/3 | €43,437 | €15,129 | -€28,308 | -65.2% |
| Remuneration and social security | 454/9 | - | €2,808 | +€2,808 | |
| Other amounts payable | 47/48 | €415 | €0 | -€415 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,501 | €1,851 | +€350 | +23.3% |
| Other operating charges | 640/8 | €940 | €513 | -€427 | -45.4% |
| Gross operating margin | 9900 | €249,732 | €219,134 | -€30,598 | -12.3% |
| Operating profit (loss) | 9901 | €247,291 | €216,770 | -€30,521 | -12.3% |
| Financial income | 75/76B | €15 | €83 | +€68 | +451.2% |
| Recurring financial income | 75 | €15 | €83 | +€68 | +451.2% |
| Financial charges | 65/66B | €1,821 | €546 | -€1,275 | -70.0% |
| Recurring financial charges | 65 | €1,821 | €546 | -€1,275 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €245,485 | €216,307 | -€29,178 | -11.9% |
| Income taxes | 67/77 | €56,885 | €49,425 | -€7,461 | -13.1% |
| Profit (loss) for the period | 9904 | €188,600 | €166,882 | -€21,718 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €188,600 | €166,882 | -€21,718 | -11.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.