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 +€72,129
up €72,129 (+89.2%), from €80,886 to €153,015
of which Plant, machinery and equipment: +€50,333
- Cash +€27,447
up €27,447 (+103.8%), from €26,434 to €53,881
mainly Debts after one year (+€69,967) and Depreciation (+€47,495)
- Debts after one year +€69,967
up €69,967 (+358.0%), from €19,546 to €89,513
- Other debts +€22,352
up €22,352 (+79.0%), from €28,300 to €50,652
- Current portion of long-term debt +€21,353
up €21,353 (+158.6%), from €13,460 to €34,814
- Reserves -€17,784
down €17,784 (-34.3%), from €51,814 to €34,031
- Tax, wage and social debts +€6,642
up €6,642 (+41.6%), from €15,977 to €22,618
of which Taxes: +€6,634
- Depreciation +€10,665
up €10,665 (+29.0%), from €36,830 to €47,495
- Taxes -€6,121
down €6,121 (-55.0%), from €11,139 to €5,018
- Financial charges -€2,481
down €2,481 (-24.2%), from €10,243 to €7,762
- Gross operating margin -€1,002
down €1,002 (-1.3%), from €74,768 to €73,766
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 | €162,159 | €265,428 | +€103,269 | +63.7% |
| Fixed assets | 21/28 | €81,232 | €153,361 | +€72,129 | +88.8% |
| Tangible fixed assets | 22/27 | €80,886 | €153,015 | +€72,129 | +89.2% |
| Plant, machinery and equipment | 23 | €50,431 | €100,764 | +€50,333 | +99.8% |
| Furniture and vehicles | 24 | €25,813 | €48,227 | +€22,413 | +86.8% |
| Other tangible fixed assets | 26 | €4,642 | €4,024 | -€617 | -13.3% |
| Financial fixed assets | 28 | €346 | €346 | = | 0.0% |
| Current assets | 29/58 | €80,928 | €112,067 | +€31,140 | +38.5% |
| Stocks and contracts in progress | 3 | €8,485 | €9,101 | +€616 | +7.3% |
| Stocks | 30/36 | €8,485 | €9,101 | +€616 | +7.3% |
| Amounts receivable within one year | 40/41 | €45,051 | €46,141 | +€1,090 | +2.4% |
| Trade receivables | 40 | €45,036 | €44,189 | -€847 | -1.9% |
| Other amounts receivable | 41 | €15 | €1,952 | +€1,937 | +12811.8% |
| Cash at bank and in hand | 54/58 | €26,434 | €53,881 | +€27,447 | +103.8% |
| Deferred charges and accrued income | 490/1 | €958 | €2,944 | +€1,987 | +207.4% |
| Total equity and liabilities | 10/49 | €162,159 | €265,428 | +€103,269 | +63.7% |
| Equity | 10/15 | €70,364 | €52,581 | -€17,784 | -25.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €51,814 | €34,031 | -€17,784 | -34.3% |
| Distributable reserves | 133 | €51,814 | €34,031 | -€17,784 | -34.3% |
| Amounts payable | 17/49 | €91,795 | €212,847 | +€121,053 | +131.9% |
| Amounts payable after more than one year | 17 | €19,546 | €89,513 | +€69,967 | +358.0% |
| Financial debts | 170/4 | €19,546 | €89,513 | +€69,967 | +358.0% |
| Amounts payable within one year | 42/48 | €72,249 | €123,334 | +€51,085 | +70.7% |
| Current portion of amounts payable after more than one year | 42 | €13,460 | €34,814 | +€21,353 | +158.6% |
| Trade debts | 44 | €14,512 | €15,250 | +€738 | +5.1% |
| Suppliers | 440/4 | €14,512 | €15,250 | +€738 | +5.1% |
| Taxes, remuneration and social security | 45 | €15,977 | €22,618 | +€6,642 | +41.6% |
| Taxes | 450/3 | €14,550 | €21,184 | +€6,634 | +45.6% |
| Remuneration and social security | 454/9 | €1,427 | €1,435 | +€7 | +0.5% |
| Other amounts payable | 47/48 | €28,300 | €50,652 | +€22,352 | +79.0% |
| Non-recurring operating income | 76A | €1,653 | - | -€1,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,830 | €47,495 | +€10,665 | +29.0% |
| Other operating charges | 640/8 | €2,390 | €2,160 | -€230 | -9.6% |
| Gross operating margin | 9900 | €74,768 | €73,766 | -€1,002 | -1.3% |
| Operating profit (loss) | 9901 | €35,548 | €24,111 | -€11,437 | -32.2% |
| Financial income | 75/76B | €6 | €377 | +€372 | +6760.2% |
| Recurring financial income | 75 | €6 | €377 | +€372 | +6760.2% |
| Financial charges | 65/66B | €10,243 | €7,762 | -€2,481 | -24.2% |
| Recurring financial charges | 65 | €10,243 | €7,762 | -€2,481 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €25,311 | €16,727 | -€8,584 | -33.9% |
| Income taxes | 67/77 | €11,139 | €5,018 | -€6,121 | -55.0% |
| Profit (loss) for the period | 9904 | €14,172 | €11,709 | -€2,463 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,172 | €11,709 | -€2,463 | -17.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.