WINALIEN: 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.
WINALIEN
Largest movements
- Stocks and contracts -€154,175
no longer reported in 2025 (was €154,175)
- Receivables within one year -€153,110
down €153,110 (-81.9%), from €186,934 to €33,824
of which Trade receivables: -€144,951
- Current investments +€101,928
up €101,928 (+30.2%), from €338,043 to €439,972
- Receivables after one year +€66,500
new in 2025: €66,500
- Trade debts -€177,058
down €177,058 (-99.1%), from €178,741 to €1,684
- Reserves +€105,219
up €105,219 (+15.8%), from €666,688 to €771,907
- Current portion of long-term debt -€45,243
no longer reported in 2025 (was €45,243)
- Tax, wage and social debts -€19,397
down €19,397 (-82.7%), from €23,459 to €4,062
- Gross operating margin -€55,952
down €55,952 (-35.9%), from €155,774 to €99,822
- Financial income +€20,596
up €20,596 (+5,534%), from €372 to €20,968
- Taxes -€16,278
down €16,278 (-31.7%), from €51,380 to €35,103
- Financial charges +€7,344
up €7,344 (+20.9%), from -€35,154 to -€27,810
- Other operating charges +€6,506
up €6,506 (+1,215%), from €535 to €7,041
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 | €932,730 | €796,252 | -€136,479 | -14.6% |
| Fixed assets | 21/28 | €11,590 | €6,555 | -€5,035 | -43.4% |
| Tangible fixed assets | 22/27 | €11,590 | €6,555 | -€5,035 | -43.4% |
| Furniture and vehicles | 24 | €11,590 | €6,555 | -€5,035 | -43.4% |
| Current assets | 29/58 | €921,140 | €789,697 | -€131,443 | -14.3% |
| Amounts receivable after more than one year | 29 | - | €66,500 | +€66,500 | |
| Other amounts receivable | 291 | - | €66,500 | +€66,500 | |
| Stocks and contracts in progress | 3 | €154,175 | - | -€154,175 | |
| Stocks | 30/36 | €154,175 | - | -€154,175 | |
| Amounts receivable within one year | 40/41 | €186,934 | €33,824 | -€153,110 | -81.9% |
| Trade receivables | 40 | €153,017 | €8,066 | -€144,951 | -94.7% |
| Other amounts receivable | 41 | €33,917 | €25,758 | -€8,158 | -24.1% |
| Current investments | 50/53 | €338,043 | €439,972 | +€101,928 | +30.2% |
| Cash at bank and in hand | 54/58 | €239,630 | €246,669 | +€7,039 | +2.9% |
| Deferred charges and accrued income | 490/1 | €2,358 | €2,732 | +€375 | +15.9% |
| Total equity and liabilities | 10/49 | €932,730 | €796,252 | -€136,479 | -14.6% |
| Equity | 10/15 | €685,288 | €790,507 | +€105,219 | +15.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €666,688 | €771,907 | +€105,219 | +15.8% |
| Distributable reserves | 133 | €666,688 | €771,907 | +€105,219 | +15.8% |
| Amounts payable | 17/49 | €247,443 | €5,745 | -€241,698 | -97.7% |
| Amounts payable within one year | 42/48 | €247,443 | €5,745 | -€241,698 | -97.7% |
| Current portion of amounts payable after more than one year | 42 | €45,243 | - | -€45,243 | |
| Trade debts | 44 | €178,741 | €1,684 | -€177,058 | -99.1% |
| Suppliers | 440/4 | €178,741 | €1,684 | -€177,058 | -99.1% |
| Taxes, remuneration and social security | 45 | €23,459 | €4,062 | -€19,397 | -82.7% |
| Taxes | 450/3 | €23,459 | €4,062 | -€19,397 | -82.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,235 | €1,237 | -€1,997 | -61.8% |
| Other operating charges | 640/8 | €535 | €7,041 | +€6,506 | +1,215% |
| Non-recurring operating charges | 66A | €1,326 | - | -€1,326 | |
| Gross operating margin | 9900 | €155,774 | €99,822 | -€55,952 | -35.9% |
| Operating profit (loss) | 9901 | €150,678 | €91,544 | -€59,135 | -39.2% |
| Financial income | 75/76B | €372 | €20,968 | +€20,596 | +5,534% |
| Recurring financial income | 75 | €372 | €20,968 | +€20,596 | +5,534% |
| Financial charges | 65/66B | -€35,154 | -€27,810 | +€7,344 | +20.9% |
| Recurring financial charges | 65 | -€35,154 | -€27,810 | +€7,344 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €186,204 | €140,322 | -€45,883 | -24.6% |
| Income taxes | 67/77 | €51,380 | €35,103 | -€16,278 | -31.7% |
| Profit (loss) for the period | 9904 | €134,824 | €105,219 | -€29,605 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,824 | €105,219 | -€29,605 | -22.0% |
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 26 October 2026 via checked.be.