THE WINE PROGRAM: 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.
THE WINE PROGRAM
Largest movements
- Tangible fixed assets -€13,256
down €13,256 (-34.3%), from €38,702 to €25,446
of which Leasing and similar rights: -€9,088
- Cash +€9,381
up €9,381 (+13.8%), from €67,770 to €77,151
mainly Net result for the year (+€22,472) and Depreciation (+€13,256)
- Receivables within one year -€4,453
down €4,453 (-66.9%), from €6,659 to €2,206
of which Trade receivables: -€3,897
- Stocks and contracts +€2,828
up €2,828 (+24.9%), from €11,380 to €14,208
- Reserves +€20,000
up €20,000 (+77.8%), from €25,700 to €45,700
- Other debts -€9,774
down €9,774 (-37.6%), from €26,019 to €16,246
- Current portion of long-term debt -€8,260
down €8,260 (-84.8%), from €9,739 to €1,479
- Tax, wage and social debts -€6,842
down €6,842 (-36.6%), from €18,687 to €11,845
of which Remuneration and social security: -€6,938
- Profit (loss) carried forward +€2,472
up €2,472 (+7.3%), from €33,826 to €36,298
- Gross operating margin +€21,821
up €21,821 (+21.2%), from €102,737 to €124,558
- Taxes +€9,445
up €9,445 (+55,394%), from €17 to €9,462
- Financial charges -€1,917
down €1,917 (-36.1%), from €5,311 to €3,394
of which Financial charges: -€1,236
- Other operating charges +€1,521
up €1,521 (+227%), from €670 to €2,191
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 | €130,928 | €125,297 | -€5,631 | -4.3% |
| Fixed assets | 21/28 | €44,217 | €30,961 | -€13,256 | -30.0% |
| Tangible fixed assets | 22/27 | €38,702 | €25,446 | -€13,256 | -34.3% |
| Plant, machinery and equipment | 23 | €2,335 | €1,222 | -€1,113 | -47.7% |
| Furniture and vehicles | 24 | €623 | €46 | -€577 | -92.6% |
| Leasing and similar rights | 25 | €27,264 | €18,176 | -€9,088 | -33.3% |
| Other tangible fixed assets | 26 | €8,480 | €6,003 | -€2,477 | -29.2% |
| Financial fixed assets | 28 | €5,515 | €5,515 | = | 0.0% |
| Current assets | 29/58 | €86,711 | €94,336 | +€7,624 | +8.8% |
| Stocks and contracts in progress | 3 | €11,380 | €14,208 | +€2,828 | +24.9% |
| Stocks | 30/36 | €11,380 | €14,208 | +€2,828 | +24.9% |
| Amounts receivable within one year | 40/41 | €6,659 | €2,206 | -€4,453 | -66.9% |
| Trade receivables | 40 | €4,948 | €1,052 | -€3,897 | -78.7% |
| Other amounts receivable | 41 | €1,711 | €1,155 | -€556 | -32.5% |
| Cash at bank and in hand | 54/58 | €67,770 | €77,151 | +€9,381 | +13.8% |
| Deferred charges and accrued income | 490/1 | €901 | €770 | -€132 | -14.6% |
| Total equity and liabilities | 10/49 | €130,928 | €125,297 | -€5,631 | -4.3% |
| Equity | 10/15 | €59,525 | €81,997 | +€22,472 | +37.8% |
| Reserves | 13 | €25,700 | €45,700 | +€20,000 | +77.8% |
| Non-distributable reserves | 130/1 | €25,700 | €45,700 | +€20,000 | +77.8% |
| Reserves not available under the articles | 1311 | €25,700 | €45,700 | +€20,000 | +77.8% |
| Profit (loss) carried forward | 14 | €33,826 | €36,298 | +€2,472 | +7.3% |
| Amounts payable | 17/49 | €71,403 | €43,300 | -€28,103 | -39.4% |
| Amounts payable after more than one year | 17 | €1,479 | - | -€1,479 | |
| Financial debts | 170/4 | €1,479 | - | -€1,479 | |
| Amounts payable within one year | 42/48 | €69,924 | €43,300 | -€26,624 | -38.1% |
| Current portion of amounts payable after more than one year | 42 | €9,739 | €1,479 | -€8,260 | -84.8% |
| Trade debts | 44 | €15,478 | €13,730 | -€1,748 | -11.3% |
| Suppliers | 440/4 | €15,478 | €13,730 | -€1,748 | -11.3% |
| Taxes, remuneration and social security | 45 | €18,687 | €11,845 | -€6,842 | -36.6% |
| Taxes | 450/3 | €5,134 | €5,230 | +€96 | +1.9% |
| Remuneration and social security | 454/9 | €13,553 | €6,614 | -€6,938 | -51.2% |
| Other amounts payable | 47/48 | €26,019 | €16,246 | -€9,774 | -37.6% |
| Remuneration, social security and pensions | 62 | €74,466 | €73,782 | -€684 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,266 | €13,256 | -€1,010 | -7.1% |
| Other operating charges | 640/8 | €670 | €2,191 | +€1,521 | +227% |
| Gross operating margin | 9900 | €102,737 | €124,558 | +€21,821 | +21.2% |
| Operating profit (loss) | 9901 | €13,334 | €35,328 | +€21,994 | +165% |
| Financial charges | 65/66B | €5,311 | €3,394 | -€1,917 | -36.1% |
| Recurring financial charges | 65 | €4,631 | €3,394 | -€1,236 | -26.7% |
| Non-recurring financial charges | 66B | €680 | - | -€680 | |
| Profit (loss) for the period before taxes | 9903 | €8,023 | €31,934 | +€23,911 | +298% |
| Income taxes | 67/77 | €17 | €9,462 | +€9,445 | +55,394% |
| Profit (loss) for the period | 9904 | €8,006 | €22,472 | +€14,466 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €8,006 | €22,472 | +€14,466 | +181% |
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 25 October 2026 via checked.be.