WINCORE: what changed
What changed
WINCORE
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€40,174
2024 · €23,015+€17,158
Equity
€1.1m
2024 · €1.1m+€16,978
Cash
€30,981
2024 · €5,995+€24,986
Balance sheet total
€1.1m
2024 · €1.1m+€20,601
Largest movements
Assets
- Cash +€24,986
up €24,986 (+417%), from €5,995 to €30,981
mainly Net result for the year (+€40,174) and Depreciation (+€4,268)
Equity and liabilities
- Reserves +€16,978
up €16,978 (+12.0%), from €141,512 to €158,490
Income statement
- Gross operating margin +€28,024
up €28,024 (+74.5%), from €37,625 to €65,649
- Taxes +€7,847
up €7,847 (+66.5%), from €11,803 to €19,650
- Depreciation +€2,904
up €2,904 (+213%), from €1,365 to €4,268
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€23,015
Gross operating margin
+€28,024
Depreciation
-€2,904
Other operating charges
-€94
Financial income
+€0
Financial charges
-€20
Taxes
-€7,847
Result 2025
€40,174
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€48,181
Investment
€0
Financing
-€23,195
Cash 2024
€5,995
From operations (derived)
+€48,181
Net result for the year
+€40,174
Depreciation
+€4,268
Receivables within one year
+€731
Deferred charges and accrued income
-€615
Trade debts
+€40
Tax, wage and social debts
+€3,582
Financing
-€23,195
Contributions, distributions and other
-€23,195
Cash 2025
€30,981
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,065,580 | €1,086,181 | +€20,601 | +1.9% |
| Fixed assets | 21/28 | €1,044,672 | €1,040,404 | -€4,268 | -0.4% |
| Tangible fixed assets | 22/27 | €7,172 | €2,904 | -€4,268 | -59.5% |
| Furniture and vehicles | 24 | €7,172 | €2,904 | -€4,268 | -59.5% |
| Financial fixed assets | 28 | €1,037,500 | €1,037,500 | = | 0.0% |
| Current assets | 29/58 | €20,907 | €45,777 | +€24,870 | +119% |
| Amounts receivable within one year | 40/41 | €13,593 | €12,862 | -€731 | -5.4% |
| Trade receivables | 40 | €10,200 | €10,200 | = | 0.0% |
| Other amounts receivable | 41 | €3,393 | €2,662 | -€731 | -21.6% |
| Cash at bank and in hand | 54/58 | €5,995 | €30,981 | +€24,986 | +417% |
| Deferred charges and accrued income | 490/1 | €1,319 | €1,934 | +€615 | +46.6% |
| Total equity and liabilities | 10/49 | €1,065,580 | €1,086,181 | +€20,601 | +1.9% |
| Equity | 10/15 | €1,054,512 | €1,071,490 | +€16,978 | +1.6% |
| Contributions | 10/11 | €913,000 | €913,000 | = | 0.0% |
| Reserves | 13 | €141,512 | €158,490 | +€16,978 | +12.0% |
| Distributable reserves | 133 | €141,512 | €158,490 | +€16,978 | +12.0% |
| Amounts payable | 17/49 | €11,068 | €14,690 | +€3,623 | +32.7% |
| Amounts payable within one year | 42/48 | €11,068 | €14,690 | +€3,623 | +32.7% |
| Trade debts | 44 | €166 | €207 | +€40 | +24.3% |
| Suppliers | 440/4 | €166 | €207 | +€40 | +24.3% |
| Taxes, remuneration and social security | 45 | €10,902 | €14,484 | +€3,582 | +32.9% |
| Taxes | 450/3 | €10,902 | €14,484 | +€3,582 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,365 | €4,268 | +€2,904 | +213% |
| Other operating charges | 640/8 | €1,030 | €1,124 | +€94 | +9.2% |
| Gross operating margin | 9900 | €37,625 | €65,649 | +€28,024 | +74.5% |
| Operating profit (loss) | 9901 | €35,231 | €60,257 | +€25,026 | +71.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €413 | €433 | +€20 | +5.0% |
| Recurring financial charges | 65 | €413 | €433 | +€20 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €34,818 | €59,824 | +€25,005 | +71.8% |
| Income taxes | 67/77 | €11,803 | €19,650 | +€7,847 | +66.5% |
| Profit (loss) for the period | 9904 | €23,015 | €40,174 | +€17,158 | +74.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,015 | €40,174 | +€17,158 | +74.6% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.