De Wyngaert: 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 Wyngaert
Largest movements
- Cash +€119,615
up €119,615 (+26.4%), from €453,059 to €572,674
mainly Receivables within one year (+€92,144) and Net result for the year (+€63,464)
- Receivables within one year -€92,144
down €92,144 (-32.6%), from €282,991 to €190,847
of which Trade receivables: -€89,093
- Tangible fixed assets -€21,975
down €21,975 (-3.0%), from €721,840 to €699,865
of which Assets under construction and advance payments: -€306,875
- Trade debts -€37,815
down €37,815 (-55.3%), from €68,408 to €30,593
- Reserves +€23,464
up €23,464 (+1.9%), from €1.2m to €1.2m
of which Distributable reserves: +€23,464
- Other debts +€16,537
up €16,537 (+5.2%), from €315,155 to €331,692
- Depreciation -€14,645
down €14,645 (-27.5%), from €53,351 to €38,706
- Gross operating margin +€6,629
up €6,629 (+3.3%), from €199,269 to €205,898
- Staff costs +€4,782
up €4,782 (+5.8%), from €82,481 to €87,263
- Taxes +€3,611
up €3,611 (+61.9%), from €5,830 to €9,441
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 | €1,632,465 | €1,629,301 | -€3,164 | -0.2% |
| Fixed assets | 21/28 | €725,051 | €703,090 | -€21,961 | -3.0% |
| Tangible fixed assets | 22/27 | €721,840 | €699,865 | -€21,975 | -3.0% |
| Land and buildings | 22 | €392,491 | €689,329 | +€296,838 | +75.6% |
| Plant, machinery and equipment | 23 | €17,399 | €7,623 | -€9,776 | -56.2% |
| Furniture and vehicles | 24 | €5,075 | €2,913 | -€2,162 | -42.6% |
| Assets under construction and advance payments | 27 | €306,875 | - | -€306,875 | |
| Financial fixed assets | 28 | €3,211 | €3,225 | +€14 | +0.4% |
| Current assets | 29/58 | €907,414 | €926,211 | +€18,797 | +2.1% |
| Stocks and contracts in progress | 3 | €163,370 | €155,683 | -€7,687 | -4.7% |
| Stocks | 30/36 | €104,307 | €98,779 | -€5,528 | -5.3% |
| Contracts in progress | 37 | €59,063 | €56,904 | -€2,159 | -3.7% |
| Amounts receivable within one year | 40/41 | €282,991 | €190,847 | -€92,144 | -32.6% |
| Trade receivables | 40 | €275,628 | €186,535 | -€89,093 | -32.3% |
| Other amounts receivable | 41 | €7,363 | €4,312 | -€3,050 | -41.4% |
| Cash at bank and in hand | 54/58 | €453,059 | €572,674 | +€119,615 | +26.4% |
| Deferred charges and accrued income | 490/1 | €7,994 | €7,006 | -€988 | -12.4% |
| Total equity and liabilities | 10/49 | €1,632,465 | €1,629,301 | -€3,164 | -0.2% |
| Equity | 10/15 | €1,236,431 | €1,259,895 | +€23,464 | +1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,217,839 | €1,241,303 | +€23,464 | +1.9% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,199,089 | €1,222,553 | +€23,464 | +2.0% |
| Amounts payable | 17/49 | €396,034 | €369,406 | -€26,628 | -6.7% |
| Amounts payable within one year | 42/48 | €396,034 | €369,406 | -€26,628 | -6.7% |
| Trade debts | 44 | €68,408 | €30,593 | -€37,815 | -55.3% |
| Suppliers | 440/4 | €68,408 | €30,593 | -€37,815 | -55.3% |
| Taxes, remuneration and social security | 45 | €12,472 | €7,121 | -€5,350 | -42.9% |
| Taxes | 450/3 | €9,144 | €2,453 | -€6,691 | -73.2% |
| Remuneration and social security | 454/9 | €3,328 | €4,669 | +€1,341 | +40.3% |
| Other amounts payable | 47/48 | €315,155 | €331,692 | +€16,537 | +5.2% |
| Remuneration, social security and pensions | 62 | €82,481 | €87,263 | +€4,782 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,351 | €38,706 | -€14,645 | -27.5% |
| Other operating charges | 640/8 | €8,558 | €8,702 | +€145 | +1.7% |
| Gross operating margin | 9900 | €199,269 | €205,898 | +€6,629 | +3.3% |
| Operating profit (loss) | 9901 | €54,878 | €71,226 | +€16,348 | +29.8% |
| Financial income | 75/76B | €1,226 | €1,876 | +€650 | +53.0% |
| Recurring financial income | 75 | €1,226 | €1,876 | +€650 | +53.0% |
| Financial charges | 65/66B | €136 | €196 | +€60 | +44.6% |
| Recurring financial charges | 65 | €136 | €196 | +€60 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €55,969 | €72,906 | +€16,937 | +30.3% |
| Income taxes | 67/77 | €5,830 | €9,441 | +€3,611 | +61.9% |
| Profit (loss) for the period | 9904 | €50,139 | €63,464 | +€13,326 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €50,139 | €63,464 | +€13,326 | +26.6% |
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 25 October 2026 via checked.be.