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.
De Winter
Largest movements
- Tangible fixed assets -€10,534
down €10,534 (-33.7%), from €31,240 to €20,706
of which Land and buildings: -€10,311
- Receivables within one year +€8,361
up €8,361 (+23.5%), from €35,598 to €43,959
of which Other amounts receivable: +€4,717
- Cash +€1,134
up €1,134 (+7.8%), from €14,493 to €15,627
mainly Depreciation (+€10,534) and Trade debts (+€1,214)
- Advances received -€1,419
down €1,419 (-100%), from €1,419 to €0
- Trade debts +€1,214
up €1,214 (+36.9%), from €3,289 to €4,502
- Gross operating margin +€2,257
up €2,257 (+25.0%), from €9,034 to €11,291
- Financial income -€2,228
down €2,228 (-52.9%), from €4,208 to €1,980
- Other operating charges +€1,501
up €1,501 (+297%), from €505 to €2,006
- Taxes -€322
down €322 (-47.6%), from €677 to €355
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 | €82,289 | €81,175 | -€1,114 | -1.4% |
| Fixed assets | 21/28 | €31,240 | €20,706 | -€10,534 | -33.7% |
| Tangible fixed assets | 22/27 | €31,240 | €20,706 | -€10,534 | -33.7% |
| Land and buildings | 22 | €30,934 | €20,623 | -€10,311 | -33.3% |
| Plant, machinery and equipment | 23 | €306 | €83 | -€222 | -72.7% |
| Current assets | 29/58 | €51,049 | €60,469 | +€9,420 | +18.5% |
| Amounts receivable within one year | 40/41 | €35,598 | €43,959 | +€8,361 | +23.5% |
| Trade receivables | 40 | €400 | €4,043 | +€3,643 | +911% |
| Other amounts receivable | 41 | €35,198 | €39,916 | +€4,717 | +13.4% |
| Cash at bank and in hand | 54/58 | €14,493 | €15,627 | +€1,134 | +7.8% |
| Deferred charges and accrued income | 490/1 | €958 | €883 | -€75 | -7.8% |
| Total equity and liabilities | 10/49 | €82,289 | €81,175 | -€1,114 | -1.4% |
| Equity | 10/15 | €76,318 | €76,034 | -€284 | -0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €63,918 | €63,918 | = | 0.0% |
| Distributable reserves | 133 | €63,918 | €63,918 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€284 | -€284 | |
| Amounts payable | 17/49 | €5,971 | €5,141 | -€830 | -13.9% |
| Amounts payable within one year | 42/48 | €5,971 | €5,141 | -€830 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,289 | €4,502 | +€1,214 | +36.9% |
| Suppliers | 440/4 | €3,289 | €4,502 | +€1,214 | +36.9% |
| Advances received on contracts in progress | 46 | €1,419 | €0 | -€1,419 | -100% |
| Taxes, remuneration and social security | 45 | €1,263 | €638 | -€625 | -49.5% |
| Taxes | 450/3 | €1,263 | €638 | -€625 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,534 | €10,534 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €2,006 | +€1,501 | +297% |
| Gross operating margin | 9900 | €9,034 | €11,291 | +€2,257 | +25.0% |
| Operating profit (loss) | 9901 | -€2,005 | -€1,249 | +€756 | +37.7% |
| Financial income | 75/76B | €4,208 | €1,980 | -€2,228 | -52.9% |
| Recurring financial income | 75 | €4,208 | €1,980 | -€2,228 | -52.9% |
| Financial charges | 65/66B | €667 | €661 | -€6 | -1.0% |
| Recurring financial charges | 65 | €667 | €661 | -€6 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €1,536 | €71 | -€1,465 | -95.4% |
| Income taxes | 67/77 | €677 | €355 | -€322 | -47.6% |
| Profit (loss) for the period | 9904 | €859 | -€284 | -€1,143 | |
| Profit (loss) for the period to be appropriated | 9905 | €859 | -€284 | -€1,143 |
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 14 October 2026 via checked.be.