4 WINS: 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.
4 WINS
Largest movements
- Tangible fixed assets -€23,363
down €23,363 (-12.5%), from €187,141 to €163,778
of which Other tangible fixed assets: -€21,285
- Deferred charges and accrued income +€10,272
up €10,272 (+55.4%), from €18,538 to €28,810
- Receivables after one year -€9,000
down €9,000 (-5.6%), from €162,000 to €153,000
- Receivables within one year +€6,424
up €6,424 (+18.1%), from €35,408 to €41,831
of which Other amounts receivable: +€7,260
- Debts after one year -€36,225
down €36,225 (-17.7%), from €205,176 to €168,951
- Other debts +€28,011
up €28,011 (+41.6%), from €67,332 to €95,343
- Tax, wage and social debts -€12,947
down €12,947 (-41.3%), from €31,363 to €18,416
of which Taxes: -€16,872
- Profit (loss) carried forward +€4,049
up €4,049 (+6.8%), from €59,417 to €63,466
- Gross operating margin -€20,598
down €20,598 (-32.7%), from €63,003 to €42,405
- Taxes -€5,302
down €5,302 (-29.3%), from €18,107 to €12,805
- Financial income -€4,760
down €4,760 (-35.1%), from €13,550 to €8,790
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 | €404,591 | €390,699 | -€13,892 | -3.4% |
| Fixed assets | 21/28 | €187,141 | €163,778 | -€23,363 | -12.5% |
| Tangible fixed assets | 22/27 | €187,141 | €163,778 | -€23,363 | -12.5% |
| Furniture and vehicles | 24 | €2,540 | €463 | -€2,078 | -81.8% |
| Other tangible fixed assets | 26 | €184,600 | €163,315 | -€21,285 | -11.5% |
| Current assets | 29/58 | €217,450 | €226,921 | +€9,471 | +4.4% |
| Amounts receivable after more than one year | 29 | €162,000 | €153,000 | -€9,000 | -5.6% |
| Other amounts receivable | 291 | €162,000 | €153,000 | -€9,000 | -5.6% |
| Amounts receivable within one year | 40/41 | €35,408 | €41,831 | +€6,424 | +18.1% |
| Trade receivables | 40 | €29,040 | €28,204 | -€837 | -2.9% |
| Other amounts receivable | 41 | €6,368 | €13,628 | +€7,260 | +114% |
| Cash at bank and in hand | 54/58 | €1,505 | €3,280 | +€1,775 | +118% |
| Deferred charges and accrued income | 490/1 | €18,538 | €28,810 | +€10,272 | +55.4% |
| Total equity and liabilities | 10/49 | €404,591 | €390,699 | -€13,892 | -3.4% |
| Equity | 10/15 | €78,017 | €82,066 | +€4,049 | +5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,417 | €63,466 | +€4,049 | +6.8% |
| Amounts payable | 17/49 | €326,574 | €308,633 | -€17,941 | -5.5% |
| Amounts payable after more than one year | 17 | €205,176 | €168,951 | -€36,225 | -17.7% |
| Financial debts | 170/4 | €205,176 | €168,951 | -€36,225 | -17.7% |
| Amounts payable within one year | 42/48 | €119,766 | €136,450 | +€16,684 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €18,682 | €19,559 | +€877 | +4.7% |
| Financial debts | 43 | €846 | - | -€846 | |
| Credit institutions | 430/8 | €846 | - | -€846 | |
| Trade debts | 44 | €1,543 | €3,132 | +€1,589 | +103% |
| Suppliers | 440/4 | €1,543 | €3,132 | +€1,589 | +103% |
| Taxes, remuneration and social security | 45 | €31,363 | €18,416 | -€12,947 | -41.3% |
| Taxes | 450/3 | €31,363 | €14,491 | -€16,872 | -53.8% |
| Remuneration and social security | 454/9 | - | €3,925 | +€3,925 | |
| Other amounts payable | 47/48 | €67,332 | €95,343 | +€28,011 | +41.6% |
| Accrued charges and deferred income | 492/3 | €1,632 | €3,232 | +€1,600 | +98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,360 | €23,858 | -€502 | -2.1% |
| Other operating charges | 640/8 | €1,000 | €400 | -€601 | -60.0% |
| Gross operating margin | 9900 | €63,003 | €42,405 | -€20,598 | -32.7% |
| Operating profit (loss) | 9901 | €37,643 | €18,148 | -€19,495 | -51.8% |
| Financial income | 75/76B | €13,550 | €8,790 | -€4,760 | -35.1% |
| Recurring financial income | 75 | €13,550 | €8,790 | -€4,760 | -35.1% |
| Financial charges | 65/66B | €10,137 | €10,084 | -€54 | -0.5% |
| Recurring financial charges | 65 | €10,137 | €10,084 | -€54 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €41,056 | €16,854 | -€24,202 | -58.9% |
| Income taxes | 67/77 | €18,107 | €12,805 | -€5,302 | -29.3% |
| Profit (loss) for the period | 9904 | €22,948 | €4,049 | -€18,899 | -82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,948 | €4,049 | -€18,899 | -82.4% |
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 24 October 2026 via checked.be.