Daan De Winter: 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.
Daan De Winter
Largest movements
- Cash -€33,422
down €33,422 (-90.8%), from €36,818 to €3,397
mainly Contributions, distributions and other (-€40,900) and Accrued charges and deferred income (-€14,825)
- Receivables within one year -€22,122
down €22,122 (-71.5%), from €30,920 to €8,798
of which Trade receivables: -€19,799
- Tangible fixed assets +€4,725
up €4,725 (+62.3%), from €7,585 to €12,310
of which Plant, machinery and equipment: +€2,405
- Deferred charges and accrued income +€1,459
new in 2025: €1,459
- Reserves -€40,900
down €40,900 (-94.8%), from €43,166 to €2,266
- Other debts +€19,606
up €19,606, from €0 to €19,606
- Accrued charges and deferred income -€14,825
down €14,825 (-97.4%), from €15,225 to €400
- Tax, wage and social debts -€9,344
down €9,344 (-70.6%), from €13,234 to €3,890
- Profit (loss) carried forward -€3,071
down €3,071, from €0 to -€3,071
- Gross operating margin -€12,646
down €12,646, from €11,000 to -€1,646
- Financial income +€2,768
up €2,768, from €0 to €2,768
- Taxes -€2,514
down €2,514 (-95.0%), from €2,647 to €132
- Depreciation +€991
up €991 (+48.9%), from €2,026 to €3,017
- Financial charges +€328
up €328 (+191%), from €172 to €500
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 | €75,328 | €25,968 | -€49,360 | -65.5% |
| Fixed assets | 21/28 | €7,590 | €12,315 | +€4,725 | +62.3% |
| Tangible fixed assets | 22/27 | €7,585 | €12,310 | +€4,725 | +62.3% |
| Plant, machinery and equipment | 23 | €6,953 | €9,358 | +€2,405 | +34.6% |
| Furniture and vehicles | 24 | €632 | €2,952 | +€2,320 | +367% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €67,738 | €13,653 | -€54,085 | -79.8% |
| Amounts receivable within one year | 40/41 | €30,920 | €8,798 | -€22,122 | -71.5% |
| Trade receivables | 40 | €22,607 | €2,808 | -€19,799 | -87.6% |
| Other amounts receivable | 41 | €8,313 | €5,990 | -€2,323 | -27.9% |
| Cash at bank and in hand | 54/58 | €36,818 | €3,397 | -€33,422 | -90.8% |
| Deferred charges and accrued income | 490/1 | - | €1,459 | +€1,459 | |
| Total equity and liabilities | 10/49 | €75,328 | €25,968 | -€49,360 | -65.5% |
| Equity | 10/15 | €45,666 | €1,694 | -€43,971 | -96.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €43,166 | €2,266 | -€40,900 | -94.8% |
| Distributable reserves | 133 | €43,166 | €2,266 | -€40,900 | -94.8% |
| Profit (loss) carried forward | 14 | €0 | -€3,071 | -€3,071 | |
| Amounts payable | 17/49 | €29,662 | €24,274 | -€5,389 | -18.2% |
| Amounts payable within one year | 42/48 | €14,437 | €23,874 | +€9,437 | +65.4% |
| Trade debts | 44 | €1,203 | €378 | -€825 | -68.6% |
| Suppliers | 440/4 | €1,203 | €378 | -€825 | -68.6% |
| Taxes, remuneration and social security | 45 | €13,234 | €3,890 | -€9,344 | -70.6% |
| Taxes | 450/3 | €13,234 | €3,890 | -€9,344 | -70.6% |
| Other amounts payable | 47/48 | €0 | €19,606 | +€19,606 | |
| Accrued charges and deferred income | 492/3 | €15,225 | €400 | -€14,825 | -97.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,026 | €3,017 | +€991 | +48.9% |
| Other operating charges | 640/8 | €720 | €544 | -€176 | -24.4% |
| Gross operating margin | 9900 | €11,000 | -€1,646 | -€12,646 | |
| Operating profit (loss) | 9901 | €8,254 | -€5,207 | -€13,461 | |
| Financial income | 75/76B | €0 | €2,768 | +€2,768 | |
| Recurring financial income | 75 | €0 | €2,768 | +€2,768 | |
| Financial charges | 65/66B | €172 | €500 | +€328 | +191% |
| Recurring financial charges | 65 | €172 | €500 | +€328 | +191% |
| Profit (loss) for the period before taxes | 9903 | €8,082 | -€2,939 | -€11,021 | |
| Income taxes | 67/77 | €2,647 | €132 | -€2,514 | -95.0% |
| Profit (loss) for the period | 9904 | €5,436 | -€3,071 | -€8,507 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,436 | -€3,071 | -€8,507 |
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 21 October 2026 via checked.be.