E-Win Project: what changed
Two fiscal 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.
E-Win Project
Largest movements
- Cash +€52,729
up €52,729 (+91.7%), from €57,482 to €110,211
mainly Net result for the year (+€62,197) and Depreciation (+€8,969)
- Tangible fixed assets -€8,969
down €8,969 (-29.4%), from €30,493 to €21,523
of which Furniture and vehicles: -€7,803
- Receivables within one year +€3,858
up €3,858 (+10.8%), from €35,655 to €39,512
of which Trade receivables: +€11,204
- Profit (loss) carried forward +€62,197
new in 2025: €62,197
- Tax, wage and social debts -€8,227
down €8,227 (-100.0%), from €8,227 to €0
- Debts after one year -€4,115
down €4,115 (-41.6%), from €9,902 to €5,786
- Trade debts -€2,641
down €2,641 (-58.5%), from €4,518 to €1,877
- Gross operating margin +€10,607
up €10,607 (+13.3%), from €79,865 to €90,472
- Taxes -€3,570
down €3,570 (-17.6%), from €20,227 to €16,658
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.
Cash bridge derived
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 | €125,734 | €173,171 | +€47,437 | +37.7% |
| Fixed assets | 21/28 | €30,493 | €21,523 | -€8,969 | -29.4% |
| Tangible fixed assets | 22/27 | €30,493 | €21,523 | -€8,969 | -29.4% |
| Plant, machinery and equipment | 23 | €5,274 | €4,108 | -€1,166 | -22.1% |
| Furniture and vehicles | 24 | €25,219 | €17,415 | -€7,803 | -30.9% |
| Current assets | 29/58 | €95,241 | €151,648 | +€56,407 | +59.2% |
| Amounts receivable within one year | 40/41 | €35,655 | €39,512 | +€3,858 | +10.8% |
| Trade receivables | 40 | €21,848 | €33,052 | +€11,204 | +51.3% |
| Other amounts receivable | 41 | €13,807 | €6,461 | -€7,346 | -53.2% |
| Cash at bank and in hand | 54/58 | €57,482 | €110,211 | +€52,729 | +91.7% |
| Deferred charges and accrued income | 490/1 | €2,105 | €1,924 | -€180 | -8.6% |
| Total equity and liabilities | 10/49 | €125,734 | €173,171 | +€47,437 | +37.7% |
| Equity | 10/15 | €99,155 | €161,352 | +€62,197 | +62.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €96,155 | €96,155 | = | 0.0% |
| Distributable reserves | 133 | €96,155 | €96,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €62,197 | +€62,197 | |
| Amounts payable | 17/49 | €26,580 | €11,819 | -€14,760 | -55.5% |
| Amounts payable after more than one year | 17 | €9,902 | €5,786 | -€4,115 | -41.6% |
| Financial debts | 170/4 | €9,902 | €5,786 | -€4,115 | -41.6% |
| Amounts payable within one year | 42/48 | €16,678 | €6,033 | -€10,645 | -63.8% |
| Current portion of amounts payable after more than one year | 42 | €3,932 | €4,115 | +€183 | +4.7% |
| Trade debts | 44 | €4,518 | €1,877 | -€2,641 | -58.5% |
| Suppliers | 440/4 | €4,518 | €1,877 | -€2,641 | -58.5% |
| Taxes, remuneration and social security | 45 | €8,227 | €0 | -€8,227 | -100.0% |
| Taxes | 450/3 | €8,227 | €0 | -€8,227 | -100.0% |
| Other amounts payable | 47/48 | - | €41 | +€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,293 | €8,969 | +€676 | +8.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€12 | -€12 | |
| Other operating charges | 640/8 | €610 | €1,220 | +€610 | +99.9% |
| Gross operating margin | 9900 | €79,865 | €90,472 | +€10,607 | +13.3% |
| Operating profit (loss) | 9901 | €70,962 | €80,295 | +€9,333 | +13.2% |
| Financial charges | 65/66B | €1,408 | €1,440 | +€32 | +2.3% |
| Recurring financial charges | 65 | €1,408 | €1,440 | +€32 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €69,554 | €78,855 | +€9,301 | +13.4% |
| Income taxes | 67/77 | €20,227 | €16,658 | -€3,570 | -17.6% |
| Profit (loss) for the period | 9904 | €49,326 | €62,197 | +€12,871 | +26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,326 | €62,197 | +€12,871 | +26.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.