De Winter Robbe: 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 Robbe
Largest movements
- Tangible fixed assets +€127,443
up €127,443 (+29.2%), from €436,120 to €563,563
of which Furniture and vehicles: +€128,730
- Cash -€38,699
down €38,699 (-31.3%), from €123,539 to €84,839
mainly Investment in fixed assets (net) (-€226,080) and Trade debts (-€83,023)
- Stocks and contracts +€28,000
new in 2025: €28,000
- Reserves +€94,077
up €94,077 (+41.5%), from €226,602 to €320,679
- Trade debts -€83,023
down €83,023 (-92.3%), from €89,939 to €6,916
- Debts after one year +€63,315
up €63,315 (+24.1%), from €262,642 to €325,957
- Current portion of long-term debt +€32,268
up €32,268 (+77.4%), from €41,676 to €73,943
- Tax, wage and social debts +€8,279
up €8,279 (+101%), from €8,190 to €16,469
- Gross operating margin +€66,380
up €66,380 (+36.8%), from €180,288 to €246,667
- Depreciation +€34,115
up €34,115 (+52.9%), from €64,523 to €98,637
- Taxes +€12,993
up €12,993 (+54.7%), from €23,761 to €36,753
- Financial charges +€4,343
up €4,343 (+40.6%), from €10,684 to €15,027
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 | €633,076 | €750,397 | +€117,321 | +18.5% |
| Fixed assets | 21/28 | €436,120 | €563,563 | +€127,443 | +29.2% |
| Tangible fixed assets | 22/27 | €436,120 | €563,563 | +€127,443 | +29.2% |
| Plant, machinery and equipment | 23 | €7,660 | €6,374 | -€1,287 | -16.8% |
| Furniture and vehicles | 24 | €428,460 | €557,190 | +€128,730 | +30.0% |
| Current assets | 29/58 | €196,955 | €186,833 | -€10,122 | -5.1% |
| Stocks and contracts in progress | 3 | - | €28,000 | +€28,000 | |
| Stocks | 30/36 | - | €28,000 | +€28,000 | |
| Amounts receivable within one year | 40/41 | €71,320 | €71,369 | +€49 | +0.1% |
| Trade receivables | 40 | €40,394 | €62,630 | +€22,236 | +55.0% |
| Other amounts receivable | 41 | €30,926 | €8,740 | -€22,187 | -71.7% |
| Cash at bank and in hand | 54/58 | €123,539 | €84,839 | -€38,699 | -31.3% |
| Deferred charges and accrued income | 490/1 | €2,096 | €2,625 | +€528 | +25.2% |
| Total equity and liabilities | 10/49 | €633,076 | €750,397 | +€117,321 | +18.5% |
| Equity | 10/15 | €227,602 | €321,679 | +€94,077 | +41.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €226,602 | €320,679 | +€94,077 | +41.5% |
| Distributable reserves | 133 | €226,602 | €320,679 | +€94,077 | +41.5% |
| Amounts payable | 17/49 | €405,473 | €428,717 | +€23,244 | +5.7% |
| Amounts payable after more than one year | 17 | €262,642 | €325,957 | +€63,315 | +24.1% |
| Financial debts | 170/4 | €262,642 | €325,957 | +€63,315 | +24.1% |
| Amounts payable within one year | 42/48 | €142,331 | €102,760 | -€39,571 | -27.8% |
| Current portion of amounts payable after more than one year | 42 | €41,676 | €73,943 | +€32,268 | +77.4% |
| Trade debts | 44 | €89,939 | €6,916 | -€83,023 | -92.3% |
| Suppliers | 440/4 | €89,939 | €6,916 | -€83,023 | -92.3% |
| Taxes, remuneration and social security | 45 | €8,190 | €16,469 | +€8,279 | +101% |
| Taxes | 450/3 | €8,190 | €16,469 | +€8,279 | +101% |
| Other amounts payable | 47/48 | €2,526 | €5,432 | +€2,905 | +115% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Non-recurring operating income | 76A | €11,500 | €25,909 | +€14,409 | +125% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,523 | €98,637 | +€34,115 | +52.9% |
| Other operating charges | 640/8 | €43 | €36 | -€8 | -18.0% |
| Non-recurring operating charges | 66A | - | €2,454 | +€2,454 | |
| Gross operating margin | 9900 | €180,288 | €246,667 | +€66,380 | +36.8% |
| Operating profit (loss) | 9901 | €115,722 | €145,541 | +€29,819 | +25.8% |
| Financial income | 75/76B | €951 | €315 | -€635 | -66.8% |
| Recurring financial income | 75 | €951 | €315 | -€635 | -66.8% |
| Financial charges | 65/66B | €10,684 | €15,027 | +€4,343 | +40.6% |
| Recurring financial charges | 65 | €10,684 | €15,027 | +€4,343 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €105,988 | €130,830 | +€24,842 | +23.4% |
| Income taxes | 67/77 | €23,761 | €36,753 | +€12,993 | +54.7% |
| Profit (loss) for the period | 9904 | €82,228 | €94,077 | +€11,849 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €82,228 | €94,077 | +€11,849 | +14.4% |
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.