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 -€61,426
down €61,426 (-84.3%), from €72,833 to €11,407
of which Land and buildings: -€60,000
- Receivables within one year +€52,676
up €52,676 (+51.1%), from €103,078 to €155,753
of which Other amounts receivable: +€102,168
- Cash +€18,835
up €18,835 (+297%), from €6,352 to €25,187
mainly Investment in fixed assets (net) (+€52,411) and Trade debts (+€16,269)
- Current investments -€4,735
down €4,735 (-100%), from €4,735 to €0
- Deferred charges and accrued income -€2,811
down €2,811 (-34.1%), from €8,246 to €5,434
- Trade debts +€16,269
up €16,269 (+64.9%), from €25,054 to €41,324
- Profit (loss) carried forward -€12,304
down €12,304 (-72.2%), from €17,043 to €4,739
- Debts after one year -€5,929
down €5,929 (-100%), from €5,929 to €0
- Other debts +€2,895
up €2,895 (+18.0%), from €16,043 to €18,938
- Tax, wage and social debts +€2,695
up €2,695 (+15.9%), from €16,977 to €19,672
- Gross operating margin -€44,747
down €44,747 (-84.1%), from €53,227 to €8,481
- Financial income +€3,363
up €3,363 (+487%), from €691 to €4,053
- Depreciation +€1,846
up €1,846 (+25.8%), from €7,168 to €9,015
- Financial charges +€575
up €575 (+35.3%), from €1,626 to €2,201
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 | €200,763 | €203,302 | +€2,539 | +1.3% |
| Fixed assets | 21/28 | €72,833 | €11,407 | -€61,426 | -84.3% |
| Tangible fixed assets | 22/27 | €72,833 | €11,407 | -€61,426 | -84.3% |
| Land and buildings | 22 | €60,000 | €0 | -€60,000 | -100% |
| Plant, machinery and equipment | 23 | €0 | €3,000 | +€3,000 | |
| Furniture and vehicles | 24 | €12,833 | €8,407 | -€4,426 | -34.5% |
| Current assets | 29/58 | €127,930 | €191,894 | +€63,964 | +50.0% |
| Stocks and contracts in progress | 3 | €5,520 | €5,520 | = | 0.0% |
| Stocks | 30/36 | €5,520 | €5,520 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €103,078 | €155,753 | +€52,676 | +51.1% |
| Trade receivables | 40 | €64,366 | €14,874 | -€49,492 | -76.9% |
| Other amounts receivable | 41 | €38,712 | €140,879 | +€102,168 | +264% |
| Current investments | 50/53 | €4,735 | €0 | -€4,735 | -100% |
| Cash at bank and in hand | 54/58 | €6,352 | €25,187 | +€18,835 | +297% |
| Deferred charges and accrued income | 490/1 | €8,246 | €5,434 | -€2,811 | -34.1% |
| Total equity and liabilities | 10/49 | €200,763 | €203,302 | +€2,539 | +1.3% |
| Equity | 10/15 | €129,743 | €117,439 | -€12,304 | -9.5% |
| Contributions | 10/11 | €27,000 | €27,000 | = | 0.0% |
| Reserves | 13 | €85,700 | €85,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,700 | €2,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,700 | €2,700 | = | 0.0% |
| Distributable reserves | 133 | €83,000 | €83,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,043 | €4,739 | -€12,304 | -72.2% |
| Amounts payable | 17/49 | €71,020 | €85,863 | +€14,842 | +20.9% |
| Amounts payable after more than one year | 17 | €5,929 | €0 | -€5,929 | -100% |
| Financial debts | 170/4 | €5,929 | €0 | -€5,929 | -100% |
| Amounts payable within one year | 42/48 | €65,091 | €85,863 | +€20,772 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €7,017 | €5,929 | -€1,088 | -15.5% |
| Trade debts | 44 | €25,054 | €41,324 | +€16,269 | +64.9% |
| Suppliers | 440/4 | €25,054 | €41,324 | +€16,269 | +64.9% |
| Taxes, remuneration and social security | 45 | €16,977 | €19,672 | +€2,695 | +15.9% |
| Taxes | 450/3 | €16,977 | €19,672 | +€2,695 | +15.9% |
| Other amounts payable | 47/48 | €16,043 | €18,938 | +€2,895 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,168 | €9,015 | +€1,846 | +25.8% |
| Other operating charges | 640/8 | €1,088 | €1,164 | +€76 | +7.0% |
| Gross operating margin | 9900 | €53,227 | €8,481 | -€44,747 | -84.1% |
| Operating profit (loss) | 9901 | €44,971 | -€1,698 | -€46,669 | |
| Financial income | 75/76B | €691 | €4,053 | +€3,363 | +487% |
| Recurring financial income | 75 | €691 | €4,053 | +€3,363 | +487% |
| Financial charges | 65/66B | €1,626 | €2,201 | +€575 | +35.3% |
| Recurring financial charges | 65 | €1,626 | €2,201 | +€575 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €44,035 | €154 | -€43,881 | -99.7% |
| Income taxes | 67/77 | €12,637 | €12,458 | -€179 | -1.4% |
| Profit (loss) for the period | 9904 | €31,399 | -€12,304 | -€43,702 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,399 | -€12,304 | -€43,702 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.