DR. WALTER DE WIN: 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.
DR. WALTER DE WIN
Largest movements
- Cash -€61,306
down €61,306 (-63.8%), from €96,017 to €34,711
mainly Other debts (-€67,027) and Contributions, distributions and other (-€50,527)
- Current investments -€19,638
down €19,638 (-2.8%), from €697,596 to €677,958
- Tangible fixed assets -€8,724
down €8,724 (-32.4%), from €26,950 to €18,226
of which Furniture and vehicles: -€7,951
- Other debts -€67,027
down €67,027 (-98.4%), from €68,119 to €1,092
- Reserves -€21,866
down €21,866 (-2.9%), from €750,340 to €728,474
of which Distributable reserves: -€21,866
- Profit (loss) carried forward +€8,678
up €8,678, from -€8,678 to €0
- Gross operating margin +€82,363
up €82,363, from -€32,706 to €49,657
- Taxes +€5,317
up €5,317 (+1,026%), from €518 to €5,835
- Financial income -€2,851
down €2,851 (-46.4%), from €6,143 to €3,292
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 | €824,312 | €742,999 | -€81,313 | -9.9% |
| Fixed assets | 21/28 | €27,865 | €19,141 | -€8,724 | -31.3% |
| Tangible fixed assets | 22/27 | €26,950 | €18,226 | -€8,724 | -32.4% |
| Plant, machinery and equipment | 23 | €1,983 | €1,210 | -€773 | -39.0% |
| Furniture and vehicles | 24 | €24,967 | €17,016 | -€7,951 | -31.8% |
| Financial fixed assets | 28 | €915 | €915 | = | 0.0% |
| Current assets | 29/58 | €796,447 | €723,858 | -€72,589 | -9.1% |
| Amounts receivable within one year | 40/41 | - | €6,665 | +€6,665 | |
| Other amounts receivable | 41 | - | €6,665 | +€6,665 | |
| Current investments | 50/53 | €697,596 | €677,958 | -€19,638 | -2.8% |
| Cash at bank and in hand | 54/58 | €96,017 | €34,711 | -€61,306 | -63.8% |
| Deferred charges and accrued income | 490/1 | €2,834 | €4,525 | +€1,691 | +59.7% |
| Total equity and liabilities | 10/49 | €824,312 | €742,999 | -€81,313 | -9.9% |
| Equity | 10/15 | €754,062 | €740,874 | -€13,188 | -1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €750,340 | €728,474 | -€21,866 | -2.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €750,340 | €728,474 | -€21,866 | -2.9% |
| Profit (loss) carried forward | 14 | -€8,678 | €0 | +€8,678 | |
| Amounts payable | 17/49 | €70,249 | €2,125 | -€68,124 | -97.0% |
| Amounts payable within one year | 42/48 | €68,544 | €1,092 | -€67,452 | -98.4% |
| Taxes, remuneration and social security | 45 | €425 | €0 | -€425 | -100% |
| Taxes | 450/3 | €425 | €0 | -€425 | -100% |
| Other amounts payable | 47/48 | €68,119 | €1,092 | -€67,027 | -98.4% |
| Accrued charges and deferred income | 492/3 | €1,706 | €1,033 | -€673 | -39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,724 | €8,724 | = | 0.0% |
| Other operating charges | 640/8 | €1,077 | €909 | -€169 | -15.6% |
| Gross operating margin | 9900 | -€32,706 | €49,657 | +€82,363 | |
| Operating profit (loss) | 9901 | -€42,508 | €40,024 | +€82,532 | |
| Financial income | 75/76B | €6,143 | €3,292 | -€2,851 | -46.4% |
| Recurring financial income | 75 | €6,143 | €3,292 | -€2,851 | -46.4% |
| Financial charges | 65/66B | €124 | €142 | +€19 | +15.1% |
| Recurring financial charges | 65 | €124 | €142 | +€19 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,489 | €43,174 | +€79,663 | |
| Income taxes | 67/77 | €518 | €5,835 | +€5,317 | +1,026% |
| Profit (loss) for the period | 9904 | -€37,007 | €37,339 | +€74,345 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,007 | €37,339 | +€74,345 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.