WIND'O: 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'O
Largest movements
- Receivables within one year -€263,837
down €263,837 (-31.1%), from €847,089 to €583,252
of which Trade receivables: -€265,270
- Stocks and contracts -€53,017
down €53,017 (-10.0%), from €530,560 to €477,542
- Tangible fixed assets -€27,808
down €27,808 (-2.5%), from €1.1m to €1.1m
of which Plant, machinery and equipment: -€21,594
- Other debts -€300,966
down €300,966 (-70.5%), from €426,633 to €125,668
- Profit (loss) carried forward -€76,752
down €76,752 (-75.0%), from €102,397 to €25,645
- Gross operating margin -€722,800
down €722,800 (-55.5%), from €1.3m to €579,812
- Staff costs -€679,539
down €679,539 (-54.6%), from €1.2m to €565,146
- Depreciation -€46,414
down €46,414 (-52.2%), from €88,867 to €42,452
- Financial charges -€27,589
down €27,589 (-52.1%), from €52,995 to €25,407
- Other operating charges -€21,340
down €21,340 (-49.0%), from €43,533 to €22,193
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 | €2,513,449 | €2,165,760 | -€347,689 | -13.8% |
| Fixed assets | 21/28 | €1,110,245 | €1,084,356 | -€25,889 | -2.3% |
| Intangible fixed assets | 21 | - | €1,919 | +€1,919 | |
| Tangible fixed assets | 22/27 | €1,110,245 | €1,082,437 | -€27,808 | -2.5% |
| Land and buildings | 22 | €1,016,391 | €1,006,536 | -€9,855 | -1.0% |
| Plant, machinery and equipment | 23 | €93,854 | €72,260 | -€21,594 | -23.0% |
| Furniture and vehicles | 24 | - | €3,641 | +€3,641 | |
| Current assets | 29/58 | €1,403,204 | €1,081,404 | -€321,800 | -22.9% |
| Stocks and contracts in progress | 3 | €530,560 | €477,542 | -€53,017 | -10.0% |
| Stocks | 30/36 | €530,560 | €477,542 | -€53,017 | -10.0% |
| Amounts receivable within one year | 40/41 | €847,089 | €583,252 | -€263,837 | -31.1% |
| Trade receivables | 40 | €847,089 | €581,819 | -€265,270 | -31.3% |
| Other amounts receivable | 41 | - | €1,433 | +€1,433 | |
| Cash at bank and in hand | 54/58 | €9,423 | €11,717 | +€2,294 | +24.3% |
| Deferred charges and accrued income | 490/1 | €16,132 | €8,893 | -€7,239 | -44.9% |
| Total equity and liabilities | 10/49 | €2,513,449 | €2,165,760 | -€347,689 | -13.8% |
| Equity | 10/15 | €1,234,212 | €1,157,460 | -€76,752 | -6.2% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Revaluation surpluses | 12 | €930,000 | €930,000 | = | 0.0% |
| Reserves | 13 | €3,500 | €3,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,500 | €3,500 | = | 0.0% |
| Legal reserve | 130 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,397 | €25,645 | -€76,752 | -75.0% |
| Amounts payable | 17/49 | €1,279,237 | €1,008,300 | -€270,937 | -21.2% |
| Amounts payable within one year | 42/48 | €1,273,837 | €1,002,135 | -€271,702 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €16,911 | €17,647 | +€736 | +4.4% |
| Financial debts | 43 | €487,338 | €485,742 | -€1,595 | -0.3% |
| Credit institutions | 430/8 | €487,338 | €485,742 | -€1,595 | -0.3% |
| Trade debts | 44 | €248,985 | €259,339 | +€10,354 | +4.2% |
| Suppliers | 440/4 | €248,985 | €259,339 | +€10,354 | +4.2% |
| Taxes, remuneration and social security | 45 | €93,970 | €113,740 | +€19,770 | +21.0% |
| Taxes | 450/3 | €28,597 | €44,702 | +€16,105 | +56.3% |
| Remuneration and social security | 454/9 | €65,373 | €69,038 | +€3,665 | +5.6% |
| Other amounts payable | 47/48 | €426,633 | €125,668 | -€300,966 | -70.5% |
| Accrued charges and deferred income | 492/3 | €5,400 | €6,164 | +€764 | +14.2% |
| Remuneration, social security and pensions | 62 | €1,244,684 | €565,146 | -€679,539 | -54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,867 | €42,452 | -€46,414 | -52.2% |
| Other operating charges | 640/8 | €43,533 | €22,193 | -€21,340 | -49.0% |
| Non-recurring operating charges | 66A | €1,787 | - | -€1,787 | |
| Gross operating margin | 9900 | €1,302,612 | €579,812 | -€722,800 | -55.5% |
| Operating profit (loss) | 9901 | -€76,259 | -€49,979 | +€26,280 | +34.5% |
| Financial income | 75/76B | €96 | €954 | +€858 | +893.9% |
| Recurring financial income | 75 | €96 | €954 | +€858 | +893.9% |
| Financial charges | 65/66B | €52,995 | €25,407 | -€27,589 | -52.1% |
| Recurring financial charges | 65 | €52,995 | €25,407 | -€27,589 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | -€129,159 | -€74,432 | +€54,727 | +42.4% |
| Income taxes | 67/77 | €2,904 | €2,320 | -€584 | -20.1% |
| Profit (loss) for the period | 9904 | -€132,062 | -€76,752 | +€55,311 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€132,062 | -€76,752 | +€55,311 | +41.9% |
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 29 September 2026 via checked.be.