D'WINNER: 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.
D'WINNER
Largest movements
- Current investments +€132,509
up €132,509 (+54.5%), from €243,176 to €375,685
- Cash +€59,545
up €59,545 (+46.1%), from €129,154 to €188,699
mainly Trade debts (+€120,699) and Other debts (+€95,107)
- Receivables within one year +€59,287
up €59,287 (+38.2%), from €155,287 to €214,574
of which Trade receivables: +€49,233
- Tangible fixed assets -€11,310
down €11,310 (-4.1%), from €274,811 to €263,500
of which Land and buildings: -€7,941
- Trade debts +€120,699
up €120,699 (+741.1%), from €16,285 to €136,985
- Other debts +€95,107
up €95,107 (+32.0%), from €297,028 to €392,136
- Tax, wage and social debts +€18,363
up €18,363 (+40.7%), from €45,106 to €63,469
of which Taxes: +€9,971
- Debts after one year -€13,599
down €13,599 (-15.8%), from €86,237 to €72,637
- Taxes -€46,529
down €46,529 (-56.7%), from €82,051 to €35,522
- Other operating charges +€25,118
up €25,118 (+67.3%), from €37,300 to €62,419
- Gross operating margin +€11,292
up €11,292 (+6.4%), from €176,233 to €187,525
- Financial income +€3,174
up €3,174 (+776.6%), from €409 to €3,583
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 | €889,406 | €1,126,954 | +€237,548 | +26.7% |
| Fixed assets | 21/28 | €274,811 | €263,500 | -€11,310 | -4.1% |
| Tangible fixed assets | 22/27 | €274,811 | €263,500 | -€11,310 | -4.1% |
| Land and buildings | 22 | €249,186 | €241,245 | -€7,941 | -3.2% |
| Furniture and vehicles | 24 | €192 | €0 | -€192 | -100.0% |
| Other tangible fixed assets | 26 | €25,432 | €22,256 | -€3,176 | -12.5% |
| Current assets | 29/58 | €614,595 | €863,454 | +€248,859 | +40.5% |
| Stocks and contracts in progress | 3 | €2,224 | €1,822 | -€401 | -18.1% |
| Stocks | 30/36 | €2,224 | €1,822 | -€401 | -18.1% |
| Amounts receivable within one year | 40/41 | €155,287 | €214,574 | +€59,287 | +38.2% |
| Trade receivables | 40 | €149,921 | €199,154 | +€49,233 | +32.8% |
| Other amounts receivable | 41 | €5,367 | €15,420 | +€10,054 | +187.3% |
| Current investments | 50/53 | €243,176 | €375,685 | +€132,509 | +54.5% |
| Cash at bank and in hand | 54/58 | €129,154 | €188,699 | +€59,545 | +46.1% |
| Deferred charges and accrued income | 490/1 | €84,754 | €82,673 | -€2,080 | -2.5% |
| Total equity and liabilities | 10/49 | €889,406 | €1,126,954 | +€237,548 | +26.7% |
| Equity | 10/15 | €381,338 | €378,809 | -€2,529 | -0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,738 | €360,209 | -€2,529 | -0.7% |
| Non-distributable reserves | 130/1 | €5,302 | €5,302 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,302 | €5,302 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,260 | €69,260 | = | 0.0% |
| Distributable reserves | 133 | €288,176 | €285,648 | -€2,529 | -0.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €17,315 | €17,315 | = | 0.0% |
| Deferred taxes | 168 | €17,315 | €17,315 | = | 0.0% |
| Amounts payable | 17/49 | €490,753 | €730,830 | +€240,077 | +48.9% |
| Amounts payable after more than one year | 17 | €86,237 | €72,637 | -€13,599 | -15.8% |
| Financial debts | 170/4 | €86,237 | €72,637 | -€13,599 | -15.8% |
| Amounts payable within one year | 42/48 | €371,874 | €614,689 | +€242,815 | +65.3% |
| Current portion of amounts payable after more than one year | 42 | €13,454 | €13,599 | +€145 | +1.1% |
| Trade debts | 44 | €16,285 | €136,985 | +€120,699 | +741.1% |
| Suppliers | 440/4 | €16,285 | €136,985 | +€120,699 | +741.1% |
| Advances received on contracts in progress | 46 | - | €8,500 | +€8,500 | |
| Taxes, remuneration and social security | 45 | €45,106 | €63,469 | +€18,363 | +40.7% |
| Taxes | 450/3 | €38,206 | €48,177 | +€9,971 | +26.1% |
| Remuneration and social security | 454/9 | €6,900 | €15,292 | +€8,392 | +121.6% |
| Other amounts payable | 47/48 | €297,028 | €392,136 | +€95,107 | +32.0% |
| Accrued charges and deferred income | 492/3 | €32,642 | €43,504 | +€10,862 | +33.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,857 | €11,310 | -€547 | -4.6% |
| Other operating charges | 640/8 | €37,300 | €62,419 | +€25,118 | +67.3% |
| Gross operating margin | 9900 | €176,233 | €187,525 | +€11,292 | +6.4% |
| Operating profit (loss) | 9901 | €127,076 | €113,796 | -€13,280 | -10.5% |
| Financial income | 75/76B | €409 | €3,583 | +€3,174 | +776.6% |
| Recurring financial income | 75 | €409 | €3,583 | +€3,174 | +776.6% |
| Financial charges | 65/66B | €2,409 | €4,034 | +€1,625 | +67.4% |
| Recurring financial charges | 65 | €2,409 | €4,034 | +€1,625 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | €125,075 | €113,345 | -€11,731 | -9.4% |
| Transfer from deferred taxes | 780 | €26,864 | €0 | -€26,864 | -100.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €82,051 | €35,522 | -€46,529 | -56.7% |
| Profit (loss) for the period | 9904 | €69,888 | €77,823 | +€7,935 | +11.4% |
| Transfer from tax-exempt reserves | 789 | €108,951 | €0 | -€108,951 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €178,839 | €77,823 | -€101,016 | -56.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.