Tom Van Winckel: 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.
Tom Van Winckel
Largest movements
- Intangible fixed assets -€25,000
down €25,000 (-33.3%), from €75,000 to €50,000
- Tangible fixed assets -€22,519
down €22,519 (-27.7%), from €81,331 to €58,812
of which Furniture and vehicles: -€17,687
- Receivables within one year +€15,111
up €15,111 (+353%), from €4,284 to €19,395
- Deferred charges and accrued income -€4,520
down €4,520 (-82.4%), from €5,487 to €967
- Cash +€2,847
up €2,847 (+35.8%), from €7,949 to €10,796
mainly Depreciation (+€47,519) and Trade debts (+€10,888)
- Debts after one year -€46,800
down €46,800 (-56.5%), from €82,885 to €36,085
of which Other amounts payable: -€26,950
- Trade debts +€10,888
up €10,888 (+238%), from €4,577 to €15,465
- Other debts +€7,337
up €7,337 (+59.5%), from €12,323 to €19,661
- Tax, wage and social debts -€4,955
down €4,955 (-45.3%), from €10,946 to €5,991
of which Taxes: -€10,946
- Gross operating margin -€28,992
down €28,992 (-35.2%), from €82,403 to €53,411
- Taxes -€6,316
down €6,316 (-81.9%), from €7,716 to €1,400
- Depreciation +€2,992
up €2,992 (+6.7%), from €44,527 to €47,519
- Financial income -€1,130
down €1,130 (-37.8%), from €2,991 to €1,861
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 | €174,450 | €140,369 | -€34,081 | -19.5% |
| Fixed assets | 21/28 | €156,731 | €109,212 | -€47,519 | -30.3% |
| Intangible fixed assets | 21 | €75,000 | €50,000 | -€25,000 | -33.3% |
| Tangible fixed assets | 22/27 | €81,331 | €58,812 | -€22,519 | -27.7% |
| Plant, machinery and equipment | 23 | €14,976 | €10,144 | -€4,832 | -32.3% |
| Furniture and vehicles | 24 | €66,355 | €48,668 | -€17,687 | -26.7% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €17,719 | €31,157 | +€13,438 | +75.8% |
| Amounts receivable within one year | 40/41 | €4,284 | €19,395 | +€15,111 | +353% |
| Other amounts receivable | 41 | €4,284 | €19,395 | +€15,111 | +353% |
| Cash at bank and in hand | 54/58 | €7,949 | €10,796 | +€2,847 | +35.8% |
| Deferred charges and accrued income | 490/1 | €5,487 | €967 | -€4,520 | -82.4% |
| Total equity and liabilities | 10/49 | €174,450 | €140,369 | -€34,081 | -19.5% |
| Equity | 10/15 | €37,055 | €37,956 | +€901 | +2.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €30,855 | €31,756 | +€901 | +2.9% |
| Distributable reserves | 133 | €30,855 | €31,756 | +€901 | +2.9% |
| Amounts payable | 17/49 | €137,395 | €102,413 | -€34,982 | -25.5% |
| Amounts payable after more than one year | 17 | €82,885 | €36,085 | -€46,800 | -56.5% |
| Financial debts | 170/4 | €55,935 | €36,085 | -€19,850 | -35.5% |
| Other amounts payable | 178/9 | €26,950 | €0 | -€26,950 | -100% |
| Amounts payable within one year | 42/48 | €54,510 | €66,328 | +€11,817 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €26,664 | €25,211 | -€1,453 | -5.4% |
| Trade debts | 44 | €4,577 | €15,465 | +€10,888 | +238% |
| Suppliers | 440/4 | €4,577 | €15,465 | +€10,888 | +238% |
| Taxes, remuneration and social security | 45 | €10,946 | €5,991 | -€4,955 | -45.3% |
| Taxes | 450/3 | €10,946 | €0 | -€10,946 | -100% |
| Remuneration and social security | 454/9 | €0 | €5,991 | +€5,991 | |
| Other amounts payable | 47/48 | €12,323 | €19,661 | +€7,337 | +59.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,527 | €47,519 | +€2,992 | +6.7% |
| Other operating charges | 640/8 | €1,323 | €861 | -€462 | -34.9% |
| Gross operating margin | 9900 | €82,403 | €53,411 | -€28,992 | -35.2% |
| Operating profit (loss) | 9901 | €36,552 | €5,031 | -€31,522 | -86.2% |
| Financial income | 75/76B | €2,991 | €1,861 | -€1,130 | -37.8% |
| Recurring financial income | 75 | €2,991 | €1,861 | -€1,130 | -37.8% |
| Financial charges | 65/66B | €4,358 | €4,591 | +€233 | +5.3% |
| Recurring financial charges | 65 | €4,358 | €4,591 | +€233 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €35,185 | €2,301 | -€32,884 | -93.5% |
| Income taxes | 67/77 | €7,716 | €1,400 | -€6,316 | -81.9% |
| Profit (loss) for the period | 9904 | €27,469 | €901 | -€26,568 | -96.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,469 | €901 | -€26,568 | -96.7% |
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 1 November 2026 via checked.be.