WIND FARM: 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.
WIND FARM
Largest movements
- Receivables within one year -€616,631
down €616,631 (-64.2%), from €960,087 to €343,455
of which Trade receivables: -€607,407
- Tangible fixed assets -€567,975
down €567,975 (-14.2%), from €4.0m to €3.4m
- Intangible fixed assets -€224,302
down €224,302 (-17.9%), from €1.3m to €1.0m
- Cash -€91,850
down €91,850 (-29.8%), from €307,882 to €216,031
mainly Net result for the year (-€1.2m) and Debts after one year (-€482,167)
- Profit (loss) carried forward -€1.2m
down €1.2m, from €314,457 to -€914,323
- Debts after one year -€482,167
down €482,167 (-12.1%), from €4.0m to €3.5m
- Trade debts +€172,062
up €172,062 (+187.3%), from €91,853 to €263,915
- Provisions +€169,993
up €169,993 (+40.9%), from €416,000 to €585,993
- Investment grants -€100,000
down €100,000 (-14.3%), from €700,000 to €600,000
- Gross operating margin -€961,442
down €961,442, from €775,214 to -€186,228
- Provisions +€105,993
up €105,993 (+165.6%), from €64,000 to €169,993
- Financial charges -€28,444
down €28,444 (-16.3%), from €175,038 to €146,594
- Taxes -€8,531
down €8,531 (-100.0%), from €8,531 to €0
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 | €7,283,012 | €5,755,809 | -€1.5m | -21.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €5,908,193 | €5,115,917 | -€792,277 | -13.4% |
| Intangible fixed assets | 21 | €1,254,688 | €1,030,386 | -€224,302 | -17.9% |
| Tangible fixed assets | 22/27 | €3,993,506 | €3,425,531 | -€567,975 | -14.2% |
| Plant, machinery and equipment | 23 | €3,993,506 | €3,425,531 | -€567,975 | -14.2% |
| Financial fixed assets | 28 | €660,000 | €660,000 | = | 0.0% |
| Current assets | 29/58 | €1,374,819 | €639,892 | -€734,926 | -53.5% |
| Amounts receivable within one year | 40/41 | €960,087 | €343,455 | -€616,631 | -64.2% |
| Trade receivables | 40 | €800,087 | €192,679 | -€607,407 | -75.9% |
| Other amounts receivable | 41 | €160,000 | €150,776 | -€9,224 | -5.8% |
| Current investments | 50/53 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €307,882 | €216,031 | -€91,850 | -29.8% |
| Deferred charges and accrued income | 490/1 | €106,851 | €80,406 | -€26,445 | -24.7% |
| Total equity and liabilities | 10/49 | €7,283,012 | €5,755,809 | -€1.5m | -21.0% |
| Equity | 10/15 | €1,535,785 | €207,005 | -€1.3m | -86.5% |
| Contributions | 10/11 | €521,328 | €521,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | €314,457 | -€914,323 | -€1.2m | |
| Investment grants | 15 | €700,000 | €600,000 | -€100,000 | -14.3% |
| Provisions and deferred taxes | 16 | €416,000 | €585,993 | +€169,993 | +40.9% |
| Provisions for liabilities and charges | 160/5 | €416,000 | €585,993 | +€169,993 | +40.9% |
| Pensions and similar obligations | 160 | - | €105,993 | +€105,993 | |
| Major repairs and maintenance | 162 | €416,000 | €480,000 | +€64,000 | +15.4% |
| Amounts payable | 17/49 | €5,331,227 | €4,962,811 | -€368,417 | -6.9% |
| Amounts payable after more than one year | 17 | €3,988,908 | €3,506,741 | -€482,167 | -12.1% |
| Financial debts | 170/4 | €3,988,908 | €3,506,741 | -€482,167 | -12.1% |
| Amounts payable within one year | 42/48 | €1,342,319 | €1,456,069 | +€113,750 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €871,113 | €927,280 | +€56,167 | +6.4% |
| Financial debts | 43 | €33,614 | €25,470 | -€8,143 | -24.2% |
| Credit institutions | 430/8 | €33,614 | €25,470 | -€8,143 | -24.2% |
| Trade debts | 44 | €91,853 | €263,915 | +€172,062 | +187.3% |
| Suppliers | 440/4 | €91,853 | €263,915 | +€172,062 | +187.3% |
| Taxes, remuneration and social security | 45 | €30,512 | €0 | -€30,512 | -100.0% |
| Taxes | 450/3 | €30,512 | €0 | -€30,512 | -100.0% |
| Other amounts payable | 47/48 | €315,228 | €239,404 | -€75,824 | -24.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €785,196 | €792,277 | +€7,081 | +0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €64,000 | €169,993 | +€105,993 | +165.6% |
| Other operating charges | 640/8 | €38,468 | €38,498 | +€31 | +0.1% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Gross operating margin | 9900 | €775,214 | -€186,228 | -€961,442 | |
| Operating profit (loss) | 9901 | -€112,450 | -€1,186,996 | -€1.1m | -955.6% |
| Financial income | 75/76B | €107,945 | €104,811 | -€3,133 | -2.9% |
| Recurring financial income | 75 | €107,945 | €104,811 | -€3,133 | -2.9% |
| Financial charges | 65/66B | €175,038 | €146,594 | -€28,444 | -16.3% |
| Recurring financial charges | 65 | €175,038 | €146,594 | -€28,444 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€179,544 | -€1,228,779 | -€1.0m | -584.4% |
| Income taxes | 67/77 | €8,531 | €0 | -€8,531 | -100.0% |
| Profit (loss) for the period | 9904 | -€188,075 | -€1,228,779 | -€1.0m | -553.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€188,075 | -€1,228,779 | -€1.0m | -553.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.