FAIRWIND: 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.
What changed
FAIRWIND
NACE 33.200, Installation of industrial machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,176
2024 · €121,050-€123,226
Equity
€1.5m
2024 · €883,935+€640,534
Cash
€29,314
2024 · €76,615-€47,301
Balance sheet total
€5.1m
2024 · €4.9m+€197,919
Largest movements
Assets
- Tangible fixed assets +€457,037
up €457,037 (+59.9%), from €762,587 to €1.2m
of which Plant, machinery and equipment: +€353,425
- Stocks and contracts -€288,015
down €288,015 (-13.8%), from €2.1m to €1.8m
- Intangible fixed assets +€114,542
up €114,542 (+11.9%), from €960,096 to €1.1m
- Receivables within one year -€52,207
down €52,207 (-5.1%), from €1.0m to €978,085
of which Trade receivables: -€82,062
Equity and liabilities
- Contributions +€650,000
up €650,000 (+28.9%), from €2.3m to €2.9m
of which Capital: +€650,000
- Trade debts -€464,800
down €464,800 (-40.5%), from €1.1m to €681,908
- Short-term financial debts -€396,491
down €396,491 (-41.6%), from €952,069 to €555,578
- Debts after one year +€311,291
up €311,291 (+24.7%), from €1.3m to €1.6m
- Current portion of long-term debt +€109,637
up €109,637 (+21.2%), from €517,310 to €626,947
Income statement
- Gross operating margin -€479,560
down €479,560 (-30.2%), from €1.6m to €1.1m
- Financial charges -€60,964
down €60,964 (-33.3%), from €182,852 to €121,888
- Depreciation +€43,334
up €43,334 (+12.1%), from €357,490 to €400,824
- Write-downs -€35,614
no longer reported in 2025 (was €35,614)
- Staff costs +€18,997
up €18,997 (+3.5%), from €544,015 to €563,012
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.
Result 2024
€121,050
Gross operating margin
-€479,560
Staff costs
-€18,997
Depreciation
-€43,334
Write-downs
+€35,614
Other operating charges
+€3,718
Other operating items
+€316,848
Financial income
-€115
Financial charges
+€60,964
Taxes
+€1,636
Result 2025
-€2,176
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.
From operations
+€260,495
Investment
-€974,943
Financing
+€667,147
Cash 2024
€76,615
From operations (derived)
+€260,495
Net result for the year
-€2,176
Depreciation
+€400,824
Stocks and contracts
+€288,015
Receivables within one year
+€52,207
Deferred charges and accrued income
-€11,323
Trade debts
-€464,800
Tax, wage and social debts
-€23,152
Other debts
+€668
Accrued charges and deferred income
+€20,232
Investment (derived)
-€974,943
Investment in fixed assets (net)
-€974,943
Financing
+€667,147
Debts after one year
+€311,291
Current portion of long-term debt
+€109,637
Short-term financial debts
-€396,491
Contributions, distributions and other
+€642,710
Cash 2025
€29,314
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,931,109 | €5,129,028 | +€197,919 | +4.0% |
| Formation expenses | 20 | - | €2,540 | +€2,540 | |
| Fixed assets | 21/28 | €1,726,546 | €2,298,125 | +€571,579 | +33.1% |
| Intangible fixed assets | 21 | €960,096 | €1,074,638 | +€114,542 | +11.9% |
| Tangible fixed assets | 22/27 | €762,587 | €1,219,624 | +€457,037 | +59.9% |
| Plant, machinery and equipment | 23 | €339,246 | €692,671 | +€353,425 | +104.2% |
| Furniture and vehicles | 24 | €34,222 | €22,887 | -€11,335 | -33.1% |
| Leasing and similar rights | 25 | €319,748 | €258,317 | -€61,431 | -19.2% |
| Other tangible fixed assets | 26 | €2,770 | €2,107 | -€663 | -23.9% |
| Assets under construction and advance payments | 27 | €66,601 | €243,642 | +€177,041 | +265.8% |
| Financial fixed assets | 28 | €3,863 | €3,863 | = | 0.0% |
| Current assets | 29/58 | €3,204,563 | €2,828,363 | -€376,200 | -11.7% |
| Stocks and contracts in progress | 3 | €2,089,575 | €1,801,560 | -€288,015 | -13.8% |
| Stocks | 30/36 | €2,089,575 | €1,801,560 | -€288,015 | -13.8% |
| Amounts receivable within one year | 40/41 | €1,030,292 | €978,085 | -€52,207 | -5.1% |
| Trade receivables | 40 | €961,653 | €879,591 | -€82,062 | -8.5% |
| Other amounts receivable | 41 | €68,639 | €98,494 | +€29,855 | +43.5% |
| Cash at bank and in hand | 54/58 | €76,615 | €29,314 | -€47,301 | -61.7% |
| Deferred charges and accrued income | 490/1 | €8,081 | €19,404 | +€11,323 | +140.1% |
| Total equity and liabilities | 10/49 | €4,931,109 | €5,129,028 | +€197,919 | +4.0% |
| Equity | 10/15 | €883,935 | €1,524,469 | +€640,534 | +72.5% |
| Contributions | 10/11 | €2,252,700 | €2,902,700 | +€650,000 | +28.9% |
| Capital | 10 | €841,320 | €1,491,320 | +€650,000 | +77.3% |
| Issued capital | 100 | €841,320 | €1,491,320 | +€650,000 | +77.3% |
| Outside capital | 11 | €1,411,380 | €1,411,380 | = | 0.0% |
| Share premium | 1100/10 | €1,411,380 | €1,411,380 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,415,980 | -€1,418,156 | -€2,176 | -0.2% |
| Investment grants | 15 | €47,215 | €39,925 | -€7,290 | -15.4% |
| Amounts payable | 17/49 | €4,047,174 | €3,604,559 | -€442,615 | -10.9% |
| Amounts payable after more than one year | 17 | €1,261,044 | €1,572,335 | +€311,291 | +24.7% |
| Financial debts | 170/4 | €1,261,044 | €1,572,335 | +€311,291 | +24.7% |
| Amounts payable within one year | 42/48 | €2,704,782 | €1,930,644 | -€774,138 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €517,310 | €626,947 | +€109,637 | +21.2% |
| Financial debts | 43 | €952,069 | €555,578 | -€396,491 | -41.6% |
| Credit institutions | 430/8 | €952,069 | €555,578 | -€396,491 | -41.6% |
| Trade debts | 44 | €1,146,708 | €681,908 | -€464,800 | -40.5% |
| Suppliers | 440/4 | €1,146,708 | €681,908 | -€464,800 | -40.5% |
| Taxes, remuneration and social security | 45 | €87,558 | €64,406 | -€23,152 | -26.4% |
| Taxes | 450/3 | €10,577 | €3,088 | -€7,489 | -70.8% |
| Remuneration and social security | 454/9 | €76,981 | €61,318 | -€15,663 | -20.3% |
| Other amounts payable | 47/48 | €1,137 | €1,805 | +€668 | +58.8% |
| Accrued charges and deferred income | 492/3 | €81,348 | €101,580 | +€20,232 | +24.9% |
| Non-recurring operating income | 76A | €3,679 | - | -€3,679 | |
| Remuneration, social security and pensions | 62 | €544,015 | €563,012 | +€18,997 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €357,490 | €400,824 | +€43,334 | +12.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,614 | - | -€35,614 | |
| Other operating charges | 640/8 | €11,872 | €8,154 | -€3,718 | -31.3% |
| Non-recurring operating charges | 66A | €340,253 | €23,405 | -€316,848 | -93.1% |
| Gross operating margin | 9900 | €1,588,073 | €1,108,513 | -€479,560 | -30.2% |
| Operating profit (loss) | 9901 | €298,829 | €113,118 | -€185,711 | -62.1% |
| Financial income | 75/76B | €7,725 | €7,610 | -€115 | -1.5% |
| Recurring financial income | 75 | €7,725 | €7,610 | -€115 | -1.5% |
| Financial charges | 65/66B | €182,852 | €121,888 | -€60,964 | -33.3% |
| Recurring financial charges | 65 | €182,852 | €121,888 | -€60,964 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €123,702 | -€1,160 | -€124,862 | |
| Income taxes | 67/77 | €2,652 | €1,016 | -€1,636 | -61.7% |
| Profit (loss) for the period | 9904 | €121,050 | -€2,176 | -€123,226 | |
| Profit (loss) for the period to be appropriated | 9905 | €121,050 | -€2,176 | -€123,226 |
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 5 October 2026 via checked.be.