WIND+: 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.
WIND+
Largest movements
- Stocks and contracts -€705,541
down €705,541 (-36.2%), from €1.9m to €1.2m
- Cash -€55,496
down €55,496 (-91.8%), from €60,472 to €4,976
mainly Short-term financial debts (-€1.0m) and Tax, wage and social debts (-€49,859)
- Short-term financial debts -€1.0m
down €1.0m (-73.7%), from €1.4m to €360,260
of which Credit institutions: -€1.0m
- Current portion of long-term debt +€232,800
new in 2025: €232,800
- Other debts +€97,665
up €97,665 (+20.1%), from €485,067 to €582,732
- Tax, wage and social debts -€49,859
down €49,859 (-81.7%), from €61,037 to €11,177
- Reserves -€37,777
down €37,777 (-89.5%), from €42,211 to €4,434
- Gross operating margin -€269,049
down €269,049 (-90.5%), from €297,152 to €28,104
- Financial charges -€8,805
down €8,805 (-15.1%), from €58,397 to €49,592
- Other operating charges +€6,317
up €6,317 (+93.8%), from €6,732 to €13,048
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 | €2,166,750 | €1,411,568 | -€755,181 | -34.9% |
| Fixed assets | 21/28 | €106,112 | €100,372 | -€5,740 | -5.4% |
| Tangible fixed assets | 22/27 | €106,112 | €100,372 | -€5,740 | -5.4% |
| Land and buildings | 22 | €105,795 | €100,113 | -€5,682 | -5.4% |
| Plant, machinery and equipment | 23 | €317 | €259 | -€59 | -18.5% |
| Current assets | 29/58 | €2,060,638 | €1,311,197 | -€749,441 | -36.4% |
| Stocks and contracts in progress | 3 | €1,948,079 | €1,242,538 | -€705,541 | -36.2% |
| Stocks | 30/36 | €1,948,079 | €1,242,538 | -€705,541 | -36.2% |
| Amounts receivable within one year | 40/41 | €40,579 | €61,249 | +€20,670 | +50.9% |
| Trade receivables | 40 | €33,463 | €60,871 | +€27,408 | +81.9% |
| Other amounts receivable | 41 | €7,117 | €378 | -€6,738 | -94.7% |
| Cash at bank and in hand | 54/58 | €60,472 | €4,976 | -€55,496 | -91.8% |
| Deferred charges and accrued income | 490/1 | €11,508 | €2,434 | -€9,074 | -78.9% |
| Total equity and liabilities | 10/49 | €2,166,750 | €1,411,568 | -€755,181 | -34.9% |
| Equity | 10/15 | €59,211 | €21,434 | -€37,777 | -63.8% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €42,211 | €4,434 | -€37,777 | -89.5% |
| Distributable reserves | 133 | €42,211 | €4,434 | -€37,777 | -89.5% |
| Amounts payable | 17/49 | €2,107,539 | €1,390,134 | -€717,404 | -34.0% |
| Amounts payable after more than one year | 17 | €4,355 | €3,989 | -€366 | -8.4% |
| Other amounts payable | 178/9 | €4,355 | €3,989 | -€366 | -8.4% |
| Amounts payable within one year | 42/48 | €2,082,925 | €1,372,638 | -€710,287 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | - | €232,800 | +€232,800 | |
| Financial debts | 43 | €1,371,000 | €360,260 | -€1.0m | -73.7% |
| Credit institutions | 430/8 | €1,297,000 | €286,260 | -€1.0m | -77.9% |
| Other loans | 439 | €74,000 | €74,000 | = | 0.0% |
| Trade debts | 44 | €165,821 | €185,668 | +€19,848 | +12.0% |
| Suppliers | 440/4 | €165,821 | €185,668 | +€19,848 | +12.0% |
| Taxes, remuneration and social security | 45 | €61,037 | €11,177 | -€49,859 | -81.7% |
| Taxes | 450/3 | €61,037 | €11,177 | -€49,859 | -81.7% |
| Other amounts payable | 47/48 | €485,067 | €582,732 | +€97,665 | +20.1% |
| Accrued charges and deferred income | 492/3 | €20,259 | €13,507 | -€6,752 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,740 | €5,740 | = | 0.0% |
| Other operating charges | 640/8 | €6,732 | €13,048 | +€6,317 | +93.8% |
| Gross operating margin | 9900 | €297,152 | €28,104 | -€269,049 | -90.5% |
| Operating profit (loss) | 9901 | €284,680 | €9,315 | -€275,366 | -96.7% |
| Financial income | 75/76B | €5,000 | €2,500 | -€2,500 | -50.0% |
| Recurring financial income | 75 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Financial charges | 65/66B | €58,397 | €49,592 | -€8,805 | -15.1% |
| Recurring financial charges | 65 | €58,397 | €49,592 | -€8,805 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €231,283 | -€37,777 | -€269,060 | |
| Profit (loss) for the period | 9904 | €231,283 | -€37,777 | -€269,060 | |
| Profit (loss) for the period to be appropriated | 9905 | €231,283 | -€37,777 | -€269,060 |
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 21 October 2026 via checked.be.