DEN WIJNGAERT: 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.
DEN WIJNGAERT
Largest movements
- Cash +€2.4m
up €2.4m (+5,091%), from €46,218 to €2.4m
mainly Contributions, distributions and other (+€2.0m) and Provisions (+€672,771)
- Receivables within one year +€309,699
up €309,699 (+124%), from €249,596 to €559,295
of which Other amounts receivable: +€202,525
- Tangible fixed assets -€51,051
down €51,051 (-10.5%), from €485,536 to €434,485
of which Land and buildings: -€55,842
- Reserves +€2.0m
up €2.0m (+1,082%), from €181,881 to €2.1m
of which Tax-exempt reserves: +€2.0m
- Provisions +€672,771
up €672,771 (+360%), from €186,845 to €859,616
of which Deferred taxes: +€672,771
- Debts after one year -€59,093
down €59,093 (-37.9%), from €155,978 to €96,885
- Other debts +€47,241
up €47,241 (+38.2%), from €123,658 to €170,899
- Gross operating margin +€2.7m
up €2.7m (+23,874%), from €11,123 to €2.7m
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 | €785,419 | €3,401,974 | +€2.6m | +333% |
| Fixed assets | 21/28 | €485,536 | €434,485 | -€51,051 | -10.5% |
| Tangible fixed assets | 22/27 | €485,536 | €434,485 | -€51,051 | -10.5% |
| Land and buildings | 22 | €485,536 | €429,694 | -€55,842 | -11.5% |
| Plant, machinery and equipment | 23 | - | €4,791 | +€4,791 | |
| Current assets | 29/58 | €299,883 | €2,967,489 | +€2.7m | +890% |
| Amounts receivable within one year | 40/41 | €249,596 | €559,295 | +€309,699 | +124% |
| Trade receivables | 40 | €4,085 | €111,259 | +€107,174 | +2,624% |
| Other amounts receivable | 41 | €245,511 | €448,036 | +€202,525 | +82.5% |
| Cash at bank and in hand | 54/58 | €46,218 | €2,399,353 | +€2.4m | +5,091% |
| Deferred charges and accrued income | 490/1 | €4,069 | €8,841 | +€4,772 | +117% |
| Total equity and liabilities | 10/49 | €785,419 | €3,401,974 | +€2.6m | +333% |
| Equity | 10/15 | €281,881 | €2,249,712 | +€2.0m | +698% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €181,881 | €2,149,712 | +€2.0m | +1,082% |
| Non-distributable reserves | 130/1 | €18,441 | €18,441 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,441 | €8,441 | = | 0.0% |
| Tax-exempt reserves | 132 | €79,653 | €2,118,503 | +€2.0m | +2,560% |
| Distributable reserves | 133 | €83,787 | €12,768 | -€71,019 | -84.8% |
| Provisions and deferred taxes | 16 | €186,845 | €859,616 | +€672,771 | +360% |
| Provisions for liabilities and charges | 160/5 | €168,270 | €168,270 | = | 0.0% |
| Major repairs and maintenance | 162 | €168,270 | €168,270 | = | 0.0% |
| Deferred taxes | 168 | €18,575 | €691,346 | +€672,771 | +3,622% |
| Amounts payable | 17/49 | €316,693 | €292,646 | -€24,047 | -7.6% |
| Amounts payable after more than one year | 17 | €155,978 | €96,885 | -€59,093 | -37.9% |
| Financial debts | 170/4 | €155,978 | €96,885 | -€59,093 | -37.9% |
| Amounts payable within one year | 42/48 | €160,715 | €195,761 | +€35,046 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €37,057 | €12,856 | -€24,201 | -65.3% |
| Trade debts | 44 | - | €70 | +€70 | |
| Suppliers | 440/4 | - | €70 | +€70 | |
| Taxes, remuneration and social security | 45 | - | €11,936 | +€11,936 | |
| Remuneration and social security | 454/9 | - | €11,936 | +€11,936 | |
| Other amounts payable | 47/48 | €123,658 | €170,899 | +€47,241 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,459 | €11,639 | +€180 | +1.6% |
| Other operating charges | 640/8 | €14,273 | €14,007 | -€266 | -1.9% |
| Gross operating margin | 9900 | €11,123 | €2,666,589 | +€2.7m | +23,874% |
| Operating profit (loss) | 9901 | -€14,609 | €2,640,943 | +€2.7m | |
| Financial income | 75/76B | €4,068 | €8,841 | +€4,773 | +117% |
| Recurring financial income | 75 | €4,068 | €8,841 | +€4,773 | +117% |
| Financial charges | 65/66B | €10,535 | €9,181 | -€1,354 | -12.9% |
| Recurring financial charges | 65 | €10,535 | €9,181 | -€1,354 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,076 | €2,640,603 | +€2.7m | |
| Transfer from deferred taxes | 780 | €506 | €506 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €2,713,111 | +€2.7m | |
| Income taxes | 67/77 | €1,445 | - | -€1,445 | |
| Profit (loss) for the period | 9904 | -€22,015 | -€72,002 | -€49,987 | -227% |
| Transfer from tax-exempt reserves | 789 | €984 | €983 | -€1 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,031 | -€71,019 | -€49,988 | -238% |
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 24 October 2026 via checked.be.