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
- Cash +€17,465
up €17,465 (+26.6%), from €65,631 to €83,095
mainly Net result for the year (+€25,113) and Depreciation (+€7,985)
- Tangible fixed assets -€7,985
down €7,985 (-26.1%), from €30,600 to €22,615
- Reserves +€10,795
up €10,795 (+16.6%), from €64,977 to €75,772
- Debts after one year -€4,009
down €4,009 (-33.7%), from €11,884 to €7,876
- Trade debts +€2,573
up €2,573 (+340.8%), from €755 to €3,327
- Gross operating margin -€4,383
down €4,383 (-8.8%), from €49,660 to €45,277
- Other operating charges +€749
up €749 (+619.1%), from €121 to €870
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 | €110,353 | €120,955 | +€10,602 | +9.6% |
| Fixed assets | 21/28 | €30,600 | €22,615 | -€7,985 | -26.1% |
| Tangible fixed assets | 22/27 | €30,600 | €22,615 | -€7,985 | -26.1% |
| Furniture and vehicles | 24 | €30,600 | €22,615 | -€7,985 | -26.1% |
| Current assets | 29/58 | €79,752 | €98,340 | +€18,587 | +23.3% |
| Amounts receivable within one year | 40/41 | €14,122 | €15,244 | +€1,122 | +7.9% |
| Trade receivables | 40 | €14,122 | €15,244 | +€1,122 | +7.9% |
| Cash at bank and in hand | 54/58 | €65,631 | €83,095 | +€17,465 | +26.6% |
| Total equity and liabilities | 10/49 | €110,353 | €120,955 | +€10,602 | +9.6% |
| Equity | 10/15 | €77,377 | €88,172 | +€10,795 | +14.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €64,977 | €75,772 | +€10,795 | +16.6% |
| Distributable reserves | 133 | €64,977 | €75,772 | +€10,795 | +16.6% |
| Amounts payable | 17/49 | €32,976 | €32,783 | -€192 | -0.6% |
| Amounts payable after more than one year | 17 | €11,884 | €7,876 | -€4,009 | -33.7% |
| Financial debts | 170/4 | €11,884 | €7,876 | -€4,009 | -33.7% |
| Amounts payable within one year | 42/48 | €21,091 | €24,908 | +€3,816 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €3,818 | €4,009 | +€191 | +5.0% |
| Trade debts | 44 | €755 | €3,327 | +€2,573 | +340.8% |
| Suppliers | 440/4 | €755 | €3,327 | +€2,573 | +340.8% |
| Taxes, remuneration and social security | 45 | €13,871 | €14,882 | +€1,011 | +7.3% |
| Taxes | 450/3 | €13,871 | €12,382 | -€1,489 | -10.7% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €2,647 | €2,690 | +€43 | +1.6% |
| Non-recurring operating income | 76A | €6,467 | - | -€6,467 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,985 | €7,985 | = | 0.0% |
| Other operating charges | 640/8 | €121 | €870 | +€749 | +619.1% |
| Gross operating margin | 9900 | €49,660 | €45,277 | -€4,383 | -8.8% |
| Operating profit (loss) | 9901 | €41,554 | €36,422 | -€5,132 | -12.4% |
| Financial income | 75/76B | - | €86 | +€86 | |
| Recurring financial income | 75 | - | €86 | +€86 | |
| Financial charges | 65/66B | €1,047 | €873 | -€173 | -16.5% |
| Recurring financial charges | 65 | €1,047 | €873 | -€173 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €40,507 | €35,635 | -€4,873 | -12.0% |
| Income taxes | 67/77 | €10,861 | €10,521 | -€339 | -3.1% |
| Profit (loss) for the period | 9904 | €29,647 | €25,113 | -€4,534 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,647 | €25,113 | -€4,534 | -15.3% |
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 29 September 2026 via checked.be.