La. WinCh: 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.
La. WinCh
Largest movements
- Tangible fixed assets +€216,199
up €216,199 (+988.4%), from €21,874 to €238,073
of which Land and buildings: +€216,798
- Cash -€39,982
down €39,982 (-96.6%), from €41,389 to €1,407
mainly Investment in fixed assets (net) (-€281,029) and Trade debts (-€27,441)
- Financial fixed assets +€30,000
up €30,000 (+16.2%), from €185,180 to €215,180
- Receivables within one year -€5,375
down €5,375 (-54.0%), from €9,958 to €4,583
- Debts after one year +€127,333
up €127,333 (+127.3%), from €100,000 to €227,333
of which Financial debts: +€177,333
- Profit (loss) carried forward +€54,276
up €54,276, from -€36,702 to €17,574
- Trade debts -€27,441
down €27,441 (-34.1%), from €80,574 to €53,133
- Other debts +€24,465
up €24,465 (+642.1%), from €3,810 to €28,275
- Short-term financial debts +€24,159
new in 2025: €24,159
- Gross operating margin +€35,817
up €35,817 (+28.0%), from €127,761 to €163,578
- Depreciation +€27,548
up €27,548 (+378.3%), from €7,282 to €34,830
- Financial charges +€2,807
up €2,807 (+6.9%), from €40,873 to €43,680
of which Non-recurring financial charges: +€3,655
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 | €258,401 | €462,345 | +€203,944 | +78.9% |
| Fixed assets | 21/28 | €207,054 | €453,253 | +€246,199 | +118.9% |
| Tangible fixed assets | 22/27 | €21,874 | €238,073 | +€216,199 | +988.4% |
| Land and buildings | 22 | - | €216,798 | +€216,798 | |
| Furniture and vehicles | 24 | €21,874 | €15,035 | -€6,839 | -31.3% |
| Other tangible fixed assets | 26 | - | €6,240 | +€6,240 | |
| Financial fixed assets | 28 | €185,180 | €215,180 | +€30,000 | +16.2% |
| Current assets | 29/58 | €51,347 | €9,091 | -€42,256 | -82.3% |
| Amounts receivable within one year | 40/41 | €9,958 | €4,583 | -€5,375 | -54.0% |
| Trade receivables | 40 | €9,958 | €4,583 | -€5,375 | -54.0% |
| Cash at bank and in hand | 54/58 | €41,389 | €1,407 | -€39,982 | -96.6% |
| Deferred charges and accrued income | 490/1 | - | €3,101 | +€3,101 | |
| Total equity and liabilities | 10/49 | €258,401 | €462,345 | +€203,944 | +78.9% |
| Equity | 10/15 | €13,998 | €68,274 | +€54,276 | +387.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,100 | €32,100 | = | 0.0% |
| Distributable reserves | 133 | €32,100 | €32,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,702 | €17,574 | +€54,276 | |
| Amounts payable | 17/49 | €244,403 | €394,071 | +€149,668 | +61.2% |
| Amounts payable after more than one year | 17 | €100,000 | €227,333 | +€127,333 | +127.3% |
| Financial debts | 170/4 | - | €177,333 | +€177,333 | |
| Other amounts payable | 178/9 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Amounts payable within one year | 42/48 | €142,581 | €164,916 | +€22,335 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,709 | +€709 | +7.1% |
| Financial debts | 43 | - | €24,159 | +€24,159 | |
| Credit institutions | 430/8 | - | €24,159 | +€24,159 | |
| Trade debts | 44 | €80,574 | €53,133 | -€27,441 | -34.1% |
| Suppliers | 440/4 | €80,574 | €53,133 | -€27,441 | -34.1% |
| Taxes, remuneration and social security | 45 | €48,197 | €48,639 | +€442 | +0.9% |
| Taxes | 450/3 | €43,972 | €43,649 | -€323 | -0.7% |
| Remuneration and social security | 454/9 | €4,225 | €4,990 | +€765 | +18.1% |
| Other amounts payable | 47/48 | €3,810 | €28,275 | +€24,465 | +642.1% |
| Accrued charges and deferred income | 492/3 | €1,822 | €1,822 | -€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,282 | €34,830 | +€27,548 | +378.3% |
| Other operating charges | 640/8 | €1,049 | €2,569 | +€1,520 | +144.9% |
| Non-recurring operating charges | 66A | €270 | €83 | -€187 | -69.2% |
| Gross operating margin | 9900 | €127,761 | €163,578 | +€35,817 | +28.0% |
| Operating profit (loss) | 9901 | €119,160 | €126,096 | +€6,936 | +5.8% |
| Financial income | 75/76B | €1 | €120 | +€119 | +11886.0% |
| Recurring financial income | 75 | €1 | €120 | +€119 | +11886.0% |
| Financial charges | 65/66B | €40,873 | €43,680 | +€2,807 | +6.9% |
| Recurring financial charges | 65 | €3,298 | €2,450 | -€848 | -25.7% |
| Non-recurring financial charges | 66B | €37,575 | €41,230 | +€3,655 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €78,288 | €82,536 | +€4,248 | +5.4% |
| Income taxes | 67/77 | €27,054 | €28,171 | +€1,117 | +4.1% |
| Profit (loss) for the period | 9904 | €51,234 | €54,365 | +€3,131 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,234 | €54,365 | +€3,131 | +6.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.