WIND4FLANDERS: 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.
What changed
WIND4FLANDERS
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.7m
2024 · €4.4m-€2.7m
Equity
€46.6m
2024 · €48.2m-€1.6m
Cash
€2.2m
2024 · €520,543+€1.7m
Balance sheet total
€53.9m
2024 · €61.8m-€7.9m
Largest movements
Assets
- Receivables within one year -€9.7m
down €9.7m (-76.9%), from €12.6m to €2.9m
- Cash +€1.7m
up €1.7m (+318.6%), from €520,543 to €2.2m
mainly Receivables within one year (+€9.7m) and Net result for the year (+€1.7m)
Equity and liabilities
- Other debts -€5.5m
down €5.5m (-62.6%), from €8.8m to €3.3m
- Profit (loss) carried forward -€1.7m
down €1.7m (-99.0%), from €1.7m to €15,935
Income statement
- Financial income -€3.4m
down €3.4m (-63.3%), from €5.4m to €2.0m
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.
Result 2024
€4.4m
Other operating charges
-€31
Other operating items
+€23,690
Financial income
-€3.4m
Financial charges
+€337,962
Taxes
+€295,930
Result 2025
€1.7m
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.
From operations
+€5.8m
Investment
€0
Financing
-€4.1m
Cash 2024
€520,543
From operations (derived)
+€5.8m
Net result for the year
+€1.7m
Receivables within one year
+€9.7m
Deferred charges and accrued income
-€107,413
Smaller working-capital items
-€2,176
Other debts
-€5.5m
Financing
-€4.1m
Debts after one year
-€570,106
Current portion of long-term debt
-€263,358
Contributions, distributions and other
-€3.3m
Cash 2025
€2.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,805,449 | €53,903,666 | -€7.9m | -12.8% |
| Fixed assets | 21/28 | €48,380,710 | €48,380,710 | = | 0.0% |
| Financial fixed assets | 28 | €48,380,710 | €48,380,710 | = | 0.0% |
| Affiliated companies | 280/1 | €48,380,710 | €48,380,710 | = | 0.0% |
| Participating interests | 280 | €48,380,710 | €48,380,710 | = | 0.0% |
| Current assets | 29/58 | €13,424,739 | €5,522,955 | -€7.9m | -58.9% |
| Amounts receivable within one year | 40/41 | €12,573,528 | €2,906,101 | -€9.7m | -76.9% |
| Other amounts receivable | 41 | €12,573,528 | €2,906,101 | -€9.7m | -76.9% |
| Cash at bank and in hand | 54/58 | €520,543 | €2,178,774 | +€1.7m | +318.6% |
| Deferred charges and accrued income | 490/1 | €330,668 | €438,081 | +€107,413 | +32.5% |
| Total equity and liabilities | 10/49 | €61,805,449 | €53,903,666 | -€7.9m | -12.8% |
| Equity | 10/15 | €48,204,883 | €46,628,514 | -€1.6m | -3.3% |
| Contributions | 10/11 | €44,015,044 | €44,015,044 | = | 0.0% |
| Capital | 10 | €44,015,044 | €44,015,044 | = | 0.0% |
| Issued capital | 100 | €44,015,044 | €44,015,044 | = | 0.0% |
| Reserves | 13 | €2,512,585 | €2,597,534 | +€84,949 | +3.4% |
| Non-distributable reserves | 130/1 | €2,512,585 | €2,597,534 | +€84,949 | +3.4% |
| Legal reserve | 130 | €2,512,585 | €2,597,534 | +€84,949 | +3.4% |
| Profit (loss) carried forward | 14 | €1,677,254 | €15,935 | -€1.7m | -99.0% |
| Amounts payable | 17/49 | €13,600,567 | €7,275,152 | -€6.3m | -46.5% |
| Amounts payable after more than one year | 17 | €3,990,743 | €3,420,637 | -€570,106 | -14.3% |
| Financial debts | 170/4 | €3,990,743 | €3,420,637 | -€570,106 | -14.3% |
| Other loans | 174 | €3,990,743 | €3,420,637 | -€570,106 | -14.3% |
| Amounts payable within one year | 42/48 | €9,609,823 | €3,854,515 | -€5.8m | -59.9% |
| Current portion of amounts payable after more than one year | 42 | €833,464 | €570,106 | -€263,358 | -31.6% |
| Trade debts | 44 | €4,845 | €4,771 | -€74 | -1.5% |
| Suppliers | 440/4 | €4,845 | €4,771 | -€74 | -1.5% |
| Taxes, remuneration and social security | 45 | €6,383 | €4,280 | -€2,102 | -32.9% |
| Remuneration and social security | 454/9 | €6,383 | €4,280 | -€2,102 | -32.9% |
| Other amounts payable | 47/48 | €8,765,132 | €3,275,357 | -€5.5m | -62.6% |
| Operating charges | 60/66A | €86,174 | €62,515 | -€23,659 | -27.5% |
| Services and other goods | 61 | €85,206 | €61,516 | -€23,690 | -27.8% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | -€86,174 | -€62,515 | +€23,659 | +27.5% |
| Financial income | 75/76B | €5,364,627 | €1,967,952 | -€3.4m | -63.3% |
| Recurring financial income | 75 | €5,364,627 | €1,967,952 | -€3.4m | -63.3% |
| Income from financial fixed assets | 750 | €5,237,273 | €1,862,889 | -€3.4m | -64.4% |
| Income from current assets | 751 | €117,316 | €105,063 | -€12,254 | -10.4% |
| Other financial income | 752/9 | €10,038 | - | -€10,038 | |
| Financial charges | 65/66B | €544,411 | €206,449 | -€337,962 | -62.1% |
| Recurring financial charges | 65 | €544,411 | €206,449 | -€337,962 | -62.1% |
| Debt charges | 650 | €542,160 | €203,934 | -€338,226 | -62.4% |
| Other financial charges | 652/9 | €2,251 | €2,515 | +€264 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €4,734,042 | €1,698,988 | -€3.0m | -64.1% |
| Income taxes | 67/77 | €295,930 | - | -€295,930 | |
| Taxes | 670/3 | €300,000 | - | -€300,000 | |
| Tax adjustments and reversals of tax provisions | 77 | €4,070 | - | -€4,070 | |
| Profit (loss) for the period | 9904 | €4,438,112 | €1,698,988 | -€2.7m | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,438,112 | €1,698,988 | -€2.7m | -61.7% |
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 6 October 2026 via checked.be.