Léon WINANTS: 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.
Léon WINANTS
Largest movements
- Tangible fixed assets +€38,560
up €38,560 (+84.7%), from €45,523 to €84,083
of which Furniture and vehicles: +€43,184
- Cash -€34,937
down €34,937 (-47.2%), from €73,983 to €39,046
mainly Contributions, distributions and other (-€100,000) and Investment in fixed assets (net) (-€44,846)
- Receivables within one year +€27,346
up €27,346 (+45.0%), from €60,821 to €88,167
of which Trade receivables: +€18,076
- Stocks and contracts +€4,854
up €4,854 (+7.6%), from €64,061 to €68,915
- Other debts +€86,146
up €86,146 (+76.6%), from €112,506 to €198,652
- Reserves -€60,000
down €60,000 (-30.6%), from €196,000 to €136,000
- Debts after one year +€32,780
new in 2025: €32,780
- Trade debts -€22,246
down €22,246 (-73.1%), from €30,413 to €8,167
- Tax, wage and social debts -€9,748
down €9,748 (-37.5%), from €26,020 to €16,272
of which Remuneration and social security: -€9,999
- Gross operating margin -€49,724
down €49,724 (-14.9%), from €333,422 to €283,699
- Taxes -€13,155
down €13,155 (-48.9%), from €26,925 to €13,771
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 | €402,975 | €437,223 | +€34,248 | +8.5% |
| Fixed assets | 21/28 | €45,822 | €84,382 | +€38,560 | +84.2% |
| Tangible fixed assets | 22/27 | €45,523 | €84,083 | +€38,560 | +84.7% |
| Land and buildings | 22 | €1,457 | €1,457 | = | 0.0% |
| Furniture and vehicles | 24 | €1,042 | €44,227 | +€43,184 | +4,143% |
| Other tangible fixed assets | 26 | €43,024 | €38,399 | -€4,625 | -10.7% |
| Financial fixed assets | 28 | €299 | €299 | = | 0.0% |
| Current assets | 29/58 | €357,153 | €352,841 | -€4,312 | -1.2% |
| Stocks and contracts in progress | 3 | €64,061 | €68,915 | +€4,854 | +7.6% |
| Stocks | 30/36 | €64,061 | €68,915 | +€4,854 | +7.6% |
| Amounts receivable within one year | 40/41 | €60,821 | €88,167 | +€27,346 | +45.0% |
| Trade receivables | 40 | €51,466 | €69,542 | +€18,076 | +35.1% |
| Other amounts receivable | 41 | €9,355 | €18,625 | +€9,270 | +99.1% |
| Current investments | 50/53 | €147,174 | €148,850 | +€1,676 | +1.1% |
| Cash at bank and in hand | 54/58 | €73,983 | €39,046 | -€34,937 | -47.2% |
| Deferred charges and accrued income | 490/1 | €11,114 | €7,864 | -€3,250 | -29.2% |
| Total equity and liabilities | 10/49 | €402,975 | €437,223 | +€34,248 | +8.5% |
| Equity | 10/15 | €228,838 | €168,634 | -€60,204 | -26.3% |
| Contributions | 10/11 | €32,000 | €32,000 | = | 0.0% |
| Reserves | 13 | €196,000 | €136,000 | -€60,000 | -30.6% |
| Distributable reserves | 133 | €196,000 | €136,000 | -€60,000 | -30.6% |
| Profit (loss) carried forward | 14 | €838 | €634 | -€204 | -24.3% |
| Amounts payable | 17/49 | €174,137 | €268,589 | +€94,452 | +54.2% |
| Amounts payable after more than one year | 17 | - | €32,780 | +€32,780 | |
| Financial debts | 170/4 | - | €32,780 | +€32,780 | |
| Amounts payable within one year | 42/48 | €174,051 | €235,776 | +€61,725 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | - | €7,589 | +€7,589 | |
| Financial debts | 43 | €5,112 | €5,097 | -€15 | -0.3% |
| Credit institutions | 430/8 | €5,112 | €5,097 | -€15 | -0.3% |
| Trade debts | 44 | €30,413 | €8,167 | -€22,246 | -73.1% |
| Suppliers | 440/4 | €30,413 | €8,167 | -€22,246 | -73.1% |
| Taxes, remuneration and social security | 45 | €26,020 | €16,272 | -€9,748 | -37.5% |
| Taxes | 450/3 | - | €250 | +€250 | |
| Remuneration and social security | 454/9 | €26,020 | €16,021 | -€9,999 | -38.4% |
| Other amounts payable | 47/48 | €112,506 | €198,652 | +€86,146 | +76.6% |
| Accrued charges and deferred income | 492/3 | €86 | €33 | -€53 | -61.4% |
| Remuneration, social security and pensions | 62 | €219,649 | €222,874 | +€3,225 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,190 | €6,287 | +€97 | +1.6% |
| Other operating charges | 640/8 | €979 | €1,226 | +€247 | +25.3% |
| Gross operating margin | 9900 | €333,422 | €283,699 | -€49,724 | -14.9% |
| Operating profit (loss) | 9901 | €106,605 | €53,312 | -€53,293 | -50.0% |
| Financial income | 75/76B | €2,566 | €3,936 | +€1,369 | +53.3% |
| Recurring financial income | 75 | €2,566 | €3,936 | +€1,369 | +53.3% |
| Financial charges | 65/66B | €3,751 | €3,681 | -€70 | -1.9% |
| Recurring financial charges | 65 | €3,751 | €3,681 | -€70 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €105,420 | €53,567 | -€51,854 | -49.2% |
| Income taxes | 67/77 | €26,925 | €13,771 | -€13,155 | -48.9% |
| Profit (loss) for the period | 9904 | €78,495 | €39,796 | -€38,699 | -49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,495 | €39,796 | -€38,699 | -49.3% |
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 29 October 2026 via checked.be.