Winam: 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.
What changed
Winam
NACE 10.712, Artisanal bread and fresh pastry making
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€17,207
2024 · -€50,044+€32,837
Equity
€91,705
2024 · €108,912-€17,207
Cash
€27,316
2024 · €28,080-€764
Balance sheet total
€996,246
2024 · €1.1m-€98,428
Largest movements
Assets
- Tangible fixed assets -€93,639
down €93,639 (-9.2%), from €1.0m to €923,263
of which Plant, machinery and equipment: -€68,593
Equity and liabilities
- Debts after one year -€83,767
down €83,767 (-11.2%), from €748,567 to €664,800
- Profit (loss) carried forward -€17,207
down €17,207 (-34.4%), from -€50,044 to -€67,252
- Tax, wage and social debts +€16,731
up €16,731 (+41.8%), from €40,018 to €56,749
of which Remuneration and social security: +€14,733
Income statement
- Gross operating margin +€52,710
up €52,710 (+19.4%), from €272,400 to €325,110
- Staff costs +€20,559
up €20,559 (+10.6%), from €193,103 to €213,663
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.
Result 2024
-€50,044
Gross operating margin
+€52,710
Staff costs
-€20,559
Depreciation
+€879
Other operating charges
-€48
Financial income
-€3,009
Financial charges
+€2,207
Taxes
+€657
Result 2025
-€17,207
raises the resultlowers the result
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.
From operations
+€86,947
Investment
-€702
Financing
-€87,010
Cash 2024
€28,080
From operations (derived)
+€86,947
Net result for the year
-€17,207
Depreciation
+€98,341
Stocks and contracts
-€892
Receivables within one year
+€1,267
Deferred charges and accrued income
-€349
Trade debts
-€969
Tax, wage and social debts
+€16,731
Other debts
-€9,973
Investment (derived)
-€702
Investment in fixed assets (net)
-€702
Financing
-€87,010
Debts after one year
-€83,767
Current portion of long-term debt
-€3,242
Cash 2025
€27,316
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,094,674 | €996,246 | -€98,428 | -9.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,029,635 | €931,996 | -€97,639 | -9.5% |
| Intangible fixed assets | 21 | €9,733 | €5,733 | -€4,000 | -41.1% |
| Tangible fixed assets | 22/27 | €1,016,902 | €923,263 | -€93,639 | -9.2% |
| Land and buildings | 22 | €536,590 | €511,827 | -€24,763 | -4.6% |
| Plant, machinery and equipment | 23 | €479,253 | €410,660 | -€68,593 | -14.3% |
| Furniture and vehicles | 24 | €1,059 | €776 | -€283 | -26.7% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €65,038 | €64,250 | -€789 | -1.2% |
| Stocks and contracts in progress | 3 | €20,424 | €21,317 | +€892 | +4.4% |
| Stocks | 30/36 | €20,424 | €21,317 | +€892 | +4.4% |
| Amounts receivable within one year | 40/41 | €16,027 | €14,761 | -€1,267 | -7.9% |
| Trade receivables | 40 | €16,027 | €14,605 | -€1,422 | -8.9% |
| Other amounts receivable | 41 | - | €155 | +€155 | |
| Cash at bank and in hand | 54/58 | €28,080 | €27,316 | -€764 | -2.7% |
| Deferred charges and accrued income | 490/1 | €506 | €856 | +€349 | +69.0% |
| Total equity and liabilities | 10/49 | €1,094,674 | €996,246 | -€98,428 | -9.0% |
| Equity | 10/15 | €108,912 | €91,705 | -€17,207 | -15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €140,356 | €140,356 | = | 0.0% |
| Distributable reserves | 133 | €140,356 | €140,356 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,044 | -€67,252 | -€17,207 | -34.4% |
| Amounts payable | 17/49 | €985,762 | €904,541 | -€81,221 | -8.2% |
| Amounts payable after more than one year | 17 | €748,567 | €664,800 | -€83,767 | -11.2% |
| Financial debts | 170/4 | €748,567 | €664,800 | -€83,767 | -11.2% |
| Amounts payable within one year | 42/48 | €237,195 | €239,741 | +€2,547 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €72,010 | €68,767 | -€3,242 | -4.5% |
| Trade debts | 44 | €49,064 | €48,095 | -€969 | -2.0% |
| Suppliers | 440/4 | €49,064 | €48,095 | -€969 | -2.0% |
| Taxes, remuneration and social security | 45 | €40,018 | €56,749 | +€16,731 | +41.8% |
| Taxes | 450/3 | €6,351 | €8,348 | +€1,997 | +31.5% |
| Remuneration and social security | 454/9 | €33,667 | €48,401 | +€14,733 | +43.8% |
| Other amounts payable | 47/48 | €76,103 | €66,130 | -€9,973 | -13.1% |
| Remuneration, social security and pensions | 62 | €193,103 | €213,663 | +€20,559 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,220 | €98,341 | -€879 | -0.9% |
| Other operating charges | 640/8 | €1,521 | €1,568 | +€48 | +3.1% |
| Gross operating margin | 9900 | €272,400 | €325,110 | +€52,710 | +19.4% |
| Operating profit (loss) | 9901 | -€21,443 | €11,538 | +€32,982 | |
| Financial income | 75/76B | €3,512 | €503 | -€3,009 | -85.7% |
| Recurring financial income | 75 | €3,512 | €503 | -€3,009 | -85.7% |
| Financial charges | 65/66B | €31,456 | €29,249 | -€2,207 | -7.0% |
| Recurring financial charges | 65 | €31,456 | €29,249 | -€2,207 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€49,387 | -€17,207 | +€32,180 | +65.2% |
| Income taxes | 67/77 | €657 | - | -€657 | |
| Profit (loss) for the period | 9904 | -€50,044 | -€17,207 | +€32,837 | +65.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,044 | -€17,207 | +€32,837 | +65.6% |
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 20 October 2026 via checked.be.