WIND4Flanders Projects 1: 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.
What changed
WIND4Flanders Projects 1
NACE 35.110, Production of electricity from non-renewable sources
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €2.6m-€571,634
Equity
€16.9m
2024 · €16.1m+€816,367
Cash
€1.6m
2024 · €1.8m-€187,867
Balance sheet total
€19.6m
2024 · €22.3m-€2.7m
Largest movements
Assets
- Tangible fixed assets -€1.7m
down €1.7m (-9.4%), from €18.4m to €16.6m
- Receivables within one year -€817,037
down €817,037 (-42.9%), from €1.9m to €1.1m
Equity and liabilities
- Current portion of long-term debt -€3.1m
no longer reported in 2025 (was €3.1m)
- Profit (loss) carried forward +€759,535
up €759,535 (+16.1%), from €4.7m to €5.5m
- Trade debts -€422,817
down €422,817 (-66.8%), from €632,565 to €209,749
Income statement
- Turnover -€907,058
down €907,058 (-13.4%), from €6.7m to €5.8m
- Financial charges -€199,259
down €199,259 (-62.1%), from €320,627 to €121,368
- Taxes -€183,820
down €183,820 (-20.9%), from €878,669 to €694,849
- Services and other goods -€176,019
down €176,019 (-12.4%), from €1.4m to €1.2m
- Financial income -€138,924
down €138,924 (-73.9%), from €187,896 to €48,971
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
€2.6m
Turnover
-€907,058
Other operating income
-€84,573
Services and other goods
+€176,019
Depreciation
-€0
Other operating charges
-€177
Financial income
-€138,924
Financial charges
+€199,259
Taxes
+€183,820
Result 2025
€2.1m
raises the resultlowers the result
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.
From operations
+€4.2m
Investment
€0
Financing
-€4.4m
Cash 2024
€1.8m
From operations (derived)
+€4.2m
Net result for the year
+€2.1m
Depreciation
+€1.7m
Receivables within one year
+€817,037
Deferred charges and accrued income
-€46,287
Provisions
+€84,000
Trade debts
-€422,817
Tax, wage and social debts
-€68,255
Other debts
+€20,800
Accrued charges and deferred income
-€4,300
Financing
-€4.4m
Current portion of long-term debt
-€3.1m
Contributions, distributions and other
-€1.2m
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,268,065 | €19,583,913 | -€2.7m | -12.1% |
| Fixed assets | 21/28 | €18,373,560 | €16,648,025 | -€1.7m | -9.4% |
| Tangible fixed assets | 22/27 | €18,373,560 | €16,648,025 | -€1.7m | -9.4% |
| Plant, machinery and equipment | 23 | €18,373,560 | €16,648,025 | -€1.7m | -9.4% |
| Current assets | 29/58 | €3,894,505 | €2,935,888 | -€958,617 | -24.6% |
| Amounts receivable within one year | 40/41 | €1,902,924 | €1,085,887 | -€817,037 | -42.9% |
| Trade receivables | 40 | €1,902,924 | €1,085,887 | -€817,037 | -42.9% |
| Cash at bank and in hand | 54/58 | €1,755,259 | €1,567,393 | -€187,867 | -10.7% |
| Deferred charges and accrued income | 490/1 | €236,322 | €282,609 | +€46,287 | +19.6% |
| Total equity and liabilities | 10/49 | €22,268,065 | €19,583,913 | -€2.7m | -12.1% |
| Equity | 10/15 | €16,102,473 | €16,918,841 | +€816,367 | +5.1% |
| Contributions | 10/11 | €10,400,050 | €10,400,050 | = | 0.0% |
| Capital | 10 | €10,400,050 | €10,400,050 | = | 0.0% |
| Issued capital | 100 | €10,400,050 | €10,400,050 | = | 0.0% |
| Reserves | 13 | €983,173 | €1,040,005 | +€56,832 | +5.8% |
| Non-distributable reserves | 130/1 | €983,173 | €1,040,005 | +€56,832 | +5.8% |
| Legal reserve | 130 | €983,173 | €1,040,005 | +€56,832 | +5.8% |
| Profit (loss) carried forward | 14 | €4,719,251 | €5,478,786 | +€759,535 | +16.1% |
| Provisions and deferred taxes | 16 | €763,700 | €847,700 | +€84,000 | +11.0% |
| Provisions for liabilities and charges | 160/5 | €763,700 | €847,700 | +€84,000 | +11.0% |
| Other liabilities and charges | 164/5 | €763,700 | €847,700 | +€84,000 | +11.0% |
| Amounts payable | 17/49 | €5,401,892 | €1,817,372 | -€3.6m | -66.4% |
| Amounts payable within one year | 42/48 | €5,341,692 | €1,761,472 | -€3.6m | -67.0% |
| Current portion of amounts payable after more than one year | 42 | €3,109,947 | - | -€3.1m | |
| Trade debts | 44 | €632,565 | €209,749 | -€422,817 | -66.8% |
| Suppliers | 440/4 | €632,565 | €209,749 | -€422,817 | -66.8% |
| Taxes, remuneration and social security | 45 | €371,973 | €303,718 | -€68,255 | -18.3% |
| Taxes | 450/3 | €371,973 | €303,718 | -€68,255 | -18.3% |
| Other amounts payable | 47/48 | €1,227,206 | €1,248,006 | +€20,800 | +1.7% |
| Accrued charges and deferred income | 492/3 | €60,200 | €55,900 | -€4,300 | -7.1% |
| Operating income | 70/76A | €6,884,857 | €5,893,226 | -€991,631 | -14.4% |
| Turnover | 70 | €6,746,609 | €5,839,551 | -€907,058 | -13.4% |
| Other operating income | 74 | €138,248 | €53,675 | -€84,573 | -61.2% |
| Operating charges | 60/66A | €3,237,448 | €3,061,606 | -€175,842 | -5.4% |
| Services and other goods | 61 | €1,422,966 | €1,246,947 | -€176,019 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,725,536 | €1,725,536 | +€0 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €84,000 | €84,000 | = | 0.0% |
| Other operating charges | 640/8 | €4,946 | €5,123 | +€177 | +3.6% |
| Operating profit (loss) | 9901 | €3,647,408 | €2,831,619 | -€815,789 | -22.4% |
| Financial income | 75/76B | €187,896 | €48,971 | -€138,924 | -73.9% |
| Recurring financial income | 75 | €187,896 | €48,971 | -€138,924 | -73.9% |
| Income from current assets | 751 | €187,894 | €48,967 | -€138,926 | -73.9% |
| Other financial income | 752/9 | €2 | €4 | +€2 | +108% |
| Financial charges | 65/66B | €320,627 | €121,368 | -€199,259 | -62.1% |
| Recurring financial charges | 65 | €320,627 | €121,368 | -€199,259 | -62.1% |
| Debt charges | 650 | €292,818 | €99,537 | -€193,281 | -66.0% |
| Other financial charges | 652/9 | €27,809 | €21,831 | -€5,978 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €3,514,677 | €2,759,222 | -€755,455 | -21.5% |
| Income taxes | 67/77 | €878,669 | €694,849 | -€183,820 | -20.9% |
| Taxes | 670/3 | €878,669 | €694,849 | -€183,820 | -20.9% |
| Profit (loss) for the period | 9904 | €2,636,008 | €2,064,373 | -€571,634 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,636,008 | €2,064,373 | -€571,634 | -21.7% |
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 20 October 2026 via checked.be.