WINAN: what changed
Two fiscal 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.
WINAN
Largest movements
- Receivables within one year +€25,781
up €25,781 (+67.1%), from €38,408 to €64,189
of which Trade receivables: +€20,567
- Current investments +€19,512
up €19,512 (+66.7%), from €29,267 to €48,779
- Tangible fixed assets -€18,823
down €18,823 (-9.1%), from €207,053 to €188,230
of which Land and buildings: -€15,058
- Cash +€10,216
up €10,216 (+2.1%), from €482,386 to €492,602
mainly Net result for the year (+€46,289) and Depreciation (+€18,823)
- Reserves +€46,289
up €46,289 (+7.1%), from €652,695 to €698,984
of which Distributable reserves: +€46,289
- Debts after one year -€13,750
down €13,750 (-16.9%), from €81,355 to €67,605
- Gross operating margin -€13,191
down €13,191 (-13.4%), from €98,264 to €85,072
- Financial income +€4,013
up €4,013 (+182.2%), from €2,203 to €6,216
- Taxes -€2,571
down €2,571 (-13.2%), from €19,427 to €16,856
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.
Cash bridge derived
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 | €763,997 | €800,676 | +€36,678 | +4.8% |
| Fixed assets | 21/28 | €207,053 | €188,230 | -€18,823 | -9.1% |
| Tangible fixed assets | 22/27 | €207,053 | €188,230 | -€18,823 | -9.1% |
| Land and buildings | 22 | €165,642 | €150,584 | -€15,058 | -9.1% |
| Other tangible fixed assets | 26 | €41,411 | €37,646 | -€3,765 | -9.1% |
| Current assets | 29/58 | €556,944 | €612,445 | +€55,501 | +10.0% |
| Amounts receivable within one year | 40/41 | €38,408 | €64,189 | +€25,781 | +67.1% |
| Trade receivables | 40 | €36,622 | €57,189 | +€20,567 | +56.2% |
| Other amounts receivable | 41 | €1,786 | €7,000 | +€5,214 | +291.9% |
| Current investments | 50/53 | €29,267 | €48,779 | +€19,512 | +66.7% |
| Cash at bank and in hand | 54/58 | €482,386 | €492,602 | +€10,216 | +2.1% |
| Deferred charges and accrued income | 490/1 | €6,882 | €6,874 | -€8 | -0.1% |
| Total equity and liabilities | 10/49 | €763,997 | €800,676 | +€36,678 | +4.8% |
| Equity | 10/15 | €658,895 | €705,184 | +€46,289 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €652,695 | €698,984 | +€46,289 | +7.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €652,695 | €698,984 | +€46,289 | +7.1% |
| Amounts payable | 17/49 | €105,102 | €95,492 | -€9,610 | -9.1% |
| Amounts payable after more than one year | 17 | €81,355 | €67,605 | -€13,750 | -16.9% |
| Financial debts | 170/4 | €81,355 | €67,605 | -€13,750 | -16.9% |
| Amounts payable within one year | 42/48 | €23,747 | €27,490 | +€3,743 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €13,750 | €13,750 | = | 0.0% |
| Trade debts | 44 | €1,021 | €2,698 | +€1,677 | +164.3% |
| Suppliers | 440/4 | €1,021 | €2,698 | +€1,677 | +164.3% |
| Taxes, remuneration and social security | 45 | €8,977 | €8,570 | -€407 | -4.5% |
| Taxes | 450/3 | €6,308 | €5,902 | -€407 | -6.4% |
| Remuneration and social security | 454/9 | €2,669 | €2,669 | = | 0.0% |
| Other amounts payable | 47/48 | - | €2,472 | +€2,472 | |
| Accrued charges and deferred income | 492/3 | - | €397 | +€397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,823 | €18,823 | = | 0.0% |
| Other operating charges | 640/8 | €5,053 | €4,938 | -€116 | -2.3% |
| Gross operating margin | 9900 | €98,264 | €85,072 | -€13,191 | -13.4% |
| Operating profit (loss) | 9901 | €74,387 | €61,312 | -€13,076 | -17.6% |
| Financial income | 75/76B | €2,203 | €6,216 | +€4,013 | +182.2% |
| Recurring financial income | 75 | €2,203 | €6,216 | +€4,013 | +182.2% |
| Financial charges | 65/66B | €5,260 | €4,382 | -€878 | -16.7% |
| Recurring financial charges | 65 | €5,260 | €4,382 | -€878 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €71,330 | €63,145 | -€8,185 | -11.5% |
| Income taxes | 67/77 | €19,427 | €16,856 | -€2,571 | -13.2% |
| Profit (loss) for the period | 9904 | €51,903 | €46,289 | -€5,614 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,903 | €46,289 | -€5,614 | -10.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.