DE WINKELHAAK: 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 WINKELHAAK
Largest movements
- Cash +€87,493
up €87,493 (+14.2%), from €614,674 to €702,167
mainly Net result for the year (+€43,641) and Depreciation (+€38,432)
- Tangible fixed assets -€32,814
down €32,814 (-21.8%), from €150,421 to €117,607
of which Land and buildings: -€31,157
- Receivables within one year +€16,571
up €16,571 (+27.2%), from €60,871 to €77,442
of which Trade receivables: +€16,571
- Profit (loss) carried forward +€42,641
up €42,641, from -€27,500 to €15,141
- Other debts +€17,859
up €17,859 (+20.2%), from €88,616 to €106,474
- Gross operating margin +€17,559
up €17,559 (+6.5%), from €269,191 to €286,751
- Staff costs +€16,780
up €16,780 (+9.0%), from €186,972 to €203,752
- Other operating charges -€7,176
down €7,176 (-44.7%), from €16,045 to €8,869
- Financial income -€5,702
down €5,702 (-33.2%), from €17,195 to €11,493
- Depreciation +€5,187
up €5,187 (+15.6%), from €33,245 to €38,432
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 | €840,483 | €911,839 | +€71,356 | +8.5% |
| Fixed assets | 21/28 | €151,729 | €118,916 | -€32,814 | -21.6% |
| Tangible fixed assets | 22/27 | €150,421 | €117,607 | -€32,814 | -21.8% |
| Land and buildings | 22 | €140,200 | €109,044 | -€31,157 | -22.2% |
| Plant, machinery and equipment | 23 | €5,932 | €5,739 | -€193 | -3.3% |
| Furniture and vehicles | 24 | €4,288 | €2,825 | -€1,464 | -34.1% |
| Financial fixed assets | 28 | €1,308 | €1,308 | = | 0.0% |
| Current assets | 29/58 | €688,754 | €792,923 | +€104,170 | +15.1% |
| Stocks and contracts in progress | 3 | €13,209 | €11,450 | -€1,759 | -13.3% |
| Stocks | 30/36 | €13,209 | €11,450 | -€1,759 | -13.3% |
| Amounts receivable within one year | 40/41 | €60,871 | €77,442 | +€16,571 | +27.2% |
| Trade receivables | 40 | €55,857 | €72,427 | +€16,571 | +29.7% |
| Other amounts receivable | 41 | €5,014 | €5,014 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €614,674 | €702,167 | +€87,493 | +14.2% |
| Deferred charges and accrued income | 490/1 | - | €1,865 | +€1,865 | |
| Total equity and liabilities | 10/49 | €840,483 | €911,839 | +€71,356 | +8.5% |
| Equity | 10/15 | €609,500 | €653,141 | +€43,641 | +7.2% |
| Contributions | 10/11 | €637,000 | €637,000 | = | 0.0% |
| Capital | 10 | €637,000 | €637,000 | = | 0.0% |
| Issued capital | 100 | €637,000 | €637,000 | = | 0.0% |
| Reserves | 13 | - | €1,000 | +€1,000 | |
| Distributable reserves | 133 | - | €1,000 | +€1,000 | |
| Profit (loss) carried forward | 14 | -€27,500 | €15,141 | +€42,641 | |
| Amounts payable | 17/49 | €230,983 | €258,698 | +€27,715 | +12.0% |
| Amounts payable within one year | 42/48 | €211,879 | €239,844 | +€27,965 | +13.2% |
| Trade debts | 44 | €82,034 | €89,469 | +€7,435 | +9.1% |
| Suppliers | 440/4 | €82,034 | €89,469 | +€7,435 | +9.1% |
| Taxes, remuneration and social security | 45 | €41,230 | €43,901 | +€2,672 | +6.5% |
| Taxes | 450/3 | €13,289 | €25,156 | +€11,867 | +89.3% |
| Remuneration and social security | 454/9 | €27,941 | €18,745 | -€9,196 | -32.9% |
| Other amounts payable | 47/48 | €88,616 | €106,474 | +€17,859 | +20.2% |
| Accrued charges and deferred income | 492/3 | €19,104 | €18,854 | -€250 | -1.3% |
| Remuneration, social security and pensions | 62 | €186,972 | €203,752 | +€16,780 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,245 | €38,432 | +€5,187 | +15.6% |
| Other operating charges | 640/8 | €16,045 | €8,869 | -€7,176 | -44.7% |
| Gross operating margin | 9900 | €269,191 | €286,751 | +€17,559 | +6.5% |
| Operating profit (loss) | 9901 | €32,929 | €35,698 | +€2,769 | +8.4% |
| Financial income | 75/76B | €17,195 | €11,493 | -€5,702 | -33.2% |
| Recurring financial income | 75 | €17,195 | €11,493 | -€5,702 | -33.2% |
| Financial charges | 65/66B | €510 | €496 | -€15 | -2.9% |
| Recurring financial charges | 65 | €510 | €496 | -€15 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €49,614 | €46,695 | -€2,919 | -5.9% |
| Transfer from deferred taxes | 780 | €100 | - | -€100 | |
| Income taxes | 67/77 | - | €3,054 | +€3,054 | |
| Profit (loss) for the period | 9904 | €49,714 | €43,641 | -€6,072 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,714 | €43,641 | -€6,072 | -12.2% |
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 31 October 2026 via checked.be.