DE WINTER: 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.
DE WINTER
Largest movements
- Tangible fixed assets -€21,519
down €21,519 (-5.6%), from €382,107 to €360,589
of which Land and buildings: -€18,791
- Short-term financial debts -€85,000
down €85,000 (-18.6%), from €457,000 to €372,000
- Debts after one year +€66,758
new in 2025: €66,758
- Tax, wage and social debts -€41,740
down €41,740 (-77.4%), from €53,932 to €12,191
of which Taxes: -€34,451
- Trade debts +€40,009
up €40,009 (+66.2%), from €60,404 to €100,413
- Accrued charges and deferred income -€21,939
down €21,939 (-11.9%), from €184,986 to €163,047
- Gross operating margin -€75,674
down €75,674 (-47.4%), from €159,635 to €83,961
- Staff costs -€26,602
down €26,602, from €24,950 to -€1,652
- Financial charges -€23,805
down €23,805 (-40.0%), from €59,552 to €35,747
- Depreciation -€4,698
down €4,698 (-19.3%), from €24,326 to €19,628
- Other operating charges +€4,216
up €4,216 (+61.5%), from €6,855 to €11,071
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 | €808,243 | €797,203 | -€11,040 | -1.4% |
| Fixed assets | 21/28 | €383,867 | €362,349 | -€21,519 | -5.6% |
| Tangible fixed assets | 22/27 | €382,107 | €360,589 | -€21,519 | -5.6% |
| Land and buildings | 22 | €378,333 | €359,542 | -€18,791 | -5.0% |
| Plant, machinery and equipment | 23 | €1,847 | €1,047 | -€800 | -43.3% |
| Furniture and vehicles | 24 | €1,927 | - | -€1,927 | |
| Financial fixed assets | 28 | €1,760 | €1,760 | = | 0.0% |
| Current assets | 29/58 | €424,376 | €434,855 | +€10,479 | +2.5% |
| Stocks and contracts in progress | 3 | €83,702 | €85,134 | +€1,432 | +1.7% |
| Stocks | 30/36 | €83,702 | €85,134 | +€1,432 | +1.7% |
| Amounts receivable within one year | 40/41 | €325,659 | €327,088 | +€1,429 | +0.4% |
| Trade receivables | 40 | - | €179 | +€179 | |
| Other amounts receivable | 41 | €325,659 | €326,909 | +€1,250 | +0.4% |
| Cash at bank and in hand | 54/58 | €15,015 | €22,633 | +€7,618 | +50.7% |
| Total equity and liabilities | 10/49 | €808,243 | €797,203 | -€11,040 | -1.4% |
| Equity | 10/15 | €20,546 | €38,714 | +€18,168 | +88.4% |
| Contributions | 10/11 | €194,992 | €194,992 | = | 0.0% |
| Reserves | 13 | €37,518 | €37,518 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,499 | €19,499 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,499 | €19,499 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,019 | €18,019 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,964 | -€193,796 | +€18,168 | +8.6% |
| Amounts payable | 17/49 | €787,697 | €758,489 | -€29,208 | -3.7% |
| Amounts payable after more than one year | 17 | - | €66,758 | +€66,758 | |
| Financial debts | 170/4 | - | €66,758 | +€66,758 | |
| Amounts payable within one year | 42/48 | €602,712 | €528,685 | -€74,027 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €31,376 | €44,081 | +€12,705 | +40.5% |
| Financial debts | 43 | €457,000 | €372,000 | -€85,000 | -18.6% |
| Credit institutions | 430/8 | €457,000 | €372,000 | -€85,000 | -18.6% |
| Trade debts | 44 | €60,404 | €100,413 | +€40,009 | +66.2% |
| Suppliers | 440/4 | €60,404 | €100,413 | +€40,009 | +66.2% |
| Taxes, remuneration and social security | 45 | €53,932 | €12,191 | -€41,740 | -77.4% |
| Taxes | 450/3 | €46,643 | €12,191 | -€34,451 | -73.9% |
| Remuneration and social security | 454/9 | €7,289 | - | -€7,289 | |
| Accrued charges and deferred income | 492/3 | €184,986 | €163,047 | -€21,939 | -11.9% |
| Non-recurring operating income | 76A | - | €8,015 | +€8,015 | |
| Remuneration, social security and pensions | 62 | €24,950 | -€1,652 | -€26,602 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,326 | €19,628 | -€4,698 | -19.3% |
| Other operating charges | 640/8 | €6,855 | €11,071 | +€4,216 | +61.5% |
| Gross operating margin | 9900 | €159,635 | €83,961 | -€75,674 | -47.4% |
| Operating profit (loss) | 9901 | €103,504 | €54,913 | -€48,591 | -46.9% |
| Financial income | 75/76B | €1 | €2 | +€1 | +119.1% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +119.1% |
| Financial charges | 65/66B | €59,552 | €35,747 | -€23,805 | -40.0% |
| Recurring financial charges | 65 | €59,552 | €35,747 | -€23,805 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €43,953 | €19,169 | -€24,784 | -56.4% |
| Income taxes | 67/77 | €386 | €1,000 | +€614 | +159.1% |
| Profit (loss) for the period | 9904 | €43,567 | €18,168 | -€25,398 | -58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,567 | €18,168 | -€25,398 | -58.3% |
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 29 September 2026 via checked.be.