DE VIER WINDEN: 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.
DE VIER WINDEN
Largest movements
- Cash -€270,061
down €270,061 (-78.0%), from €346,419 to €76,358
mainly Current investments (-€250,000) and Net result for the year (-€40,945)
- Current investments +€250,000
new in 2025: €250,000
- Tangible fixed assets -€35,761
down €35,761 (-2.8%), from €1.3m to €1.3m
of which Land and buildings: -€35,761
- Reserves -€40,945
down €40,945 (-7.5%), from €543,610 to €502,665
of which Distributable reserves: -€40,945
- Gross operating margin -€15,905
down €15,905, from €8,842 to -€7,063
- Depreciation -€8,327
down €8,327 (-18.9%), from €44,088 to €35,761
- Financial income -€2,820
down €2,820 (-28.7%), from €9,830 to €7,010
- Other operating charges -€1,763
down €1,763 (-33.1%), from €5,332 to €3,569
- Taxes +€1,093
up €1,093, from €0 to €1,093
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 | €1,684,167 | €1,637,852 | -€46,315 | -2.8% |
| Fixed assets | 21/28 | €1,298,894 | €1,263,133 | -€35,761 | -2.8% |
| Tangible fixed assets | 22/27 | €1,298,894 | €1,263,133 | -€35,761 | -2.8% |
| Land and buildings | 22 | €1,135,411 | €1,099,650 | -€35,761 | -3.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €163,483 | €163,483 | = | 0.0% |
| Current assets | 29/58 | €385,273 | €374,719 | -€10,554 | -2.7% |
| Amounts receivable within one year | 40/41 | €37,000 | €46,872 | +€9,872 | +26.7% |
| Trade receivables | 40 | €31,325 | €35,882 | +€4,556 | +14.5% |
| Other amounts receivable | 41 | €5,675 | €10,991 | +€5,316 | +93.7% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €346,419 | €76,358 | -€270,061 | -78.0% |
| Deferred charges and accrued income | 490/1 | €1,854 | €1,489 | -€366 | -19.7% |
| Total equity and liabilities | 10/49 | €1,684,167 | €1,637,852 | -€46,315 | -2.8% |
| Equity | 10/15 | €930,717 | €889,772 | -€40,945 | -4.4% |
| Contributions | 10/11 | €387,106 | €387,106 | = | 0.0% |
| Capital | 10 | €387,106 | €387,106 | = | 0.0% |
| Issued capital | 100 | €387,106 | €387,106 | = | 0.0% |
| Reserves | 13 | €543,610 | €502,665 | -€40,945 | -7.5% |
| Non-distributable reserves | 130/1 | €38,711 | €38,711 | = | 0.0% |
| Legal reserve | 130 | €38,711 | €38,711 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €504,900 | €463,954 | -€40,945 | -8.1% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €753,450 | €748,081 | -€5,370 | -0.7% |
| Amounts payable within one year | 42/48 | €750,393 | €746,015 | -€4,378 | -0.6% |
| Trade debts | 44 | €380 | €0 | -€380 | -100% |
| Suppliers | 440/4 | €380 | €0 | -€380 | -100% |
| Taxes, remuneration and social security | 45 | €4,044 | €4,193 | +€149 | +3.7% |
| Taxes | 450/3 | €4,044 | €4,193 | +€149 | +3.7% |
| Other amounts payable | 47/48 | €745,969 | €741,822 | -€4,147 | -0.6% |
| Accrued charges and deferred income | 492/3 | €3,057 | €2,066 | -€992 | -32.4% |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,088 | €35,761 | -€8,327 | -18.9% |
| Other operating charges | 640/8 | €5,332 | €3,569 | -€1,763 | -33.1% |
| Gross operating margin | 9900 | €8,842 | -€7,063 | -€15,905 | |
| Operating profit (loss) | 9901 | -€40,578 | -€46,392 | -€5,814 | -14.3% |
| Financial income | 75/76B | €9,830 | €7,010 | -€2,820 | -28.7% |
| Recurring financial income | 75 | €9,830 | €7,010 | -€2,820 | -28.7% |
| Financial charges | 65/66B | €469 | €470 | +€2 | +0.3% |
| Recurring financial charges | 65 | €469 | €470 | +€2 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€31,216 | -€39,853 | -€8,636 | -27.7% |
| Transfer from deferred taxes | 780 | €2,737 | €0 | -€2,737 | -100% |
| Income taxes | 67/77 | €0 | €1,093 | +€1,093 | |
| Profit (loss) for the period | 9904 | -€28,480 | -€40,945 | -€12,465 | -43.8% |
| Transfer from tax-exempt reserves | 789 | €29,053 | €0 | -€29,053 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €574 | -€40,945 | -€41,519 |
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 29 October 2026 via checked.be.