WIND4FLANDERS PROJECTS 2: 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 PROJECTS 2
NACE 35.110, Production of electricity from non-renewable sources
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €417,950+€731,207
Equity
€17.4m
2024 · €16.7m+€648,834
Cash
€1.8m
2024 · €3.0m-€1.1m
Balance sheet total
€30.3m
2024 · €34.0m-€3.7m
Largest movements
Assets
- Tangible fixed assets -€2.6m
down €2.6m (-8.8%), from €29.7m to €27.1m
- Cash -€1.1m
down €1.1m (-38.4%), from €3.0m to €1.8m
mainly Debts after one year (-€3.8m) and Current portion of long-term debt (-€786,979)
Equity and liabilities
- Debts after one year -€3.8m
down €3.8m (-32.8%), from €11.7m to €7.9m
- Current portion of long-term debt -€786,979
down €786,979 (-24.3%), from €3.2m to €2.5m
- Profit (loss) carried forward +€591,376
up €591,376 (+11.4%), from €5.2m to €5.8m
Income statement
- Turnover +€809,480
up €809,480 (+15.2%), from €5.3m to €6.1m
- Financial charges -€444,057
down €444,057 (-43.7%), from €1.0m to €571,918
- Financial income -€378,994
down €378,994 (-58.4%), from €648,947 to €269,952
- Taxes +€271,746
up €271,746 (+195.1%), from €139,317 to €411,063
- Services and other goods -€150,158
down €150,158 (-8.9%), from €1.7m to €1.5m
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
€417,950
Turnover
+€809,480
Other operating income
-€21,542
Services and other goods
+€150,158
Depreciation
+€0
Other operating charges
-€206
Financial income
-€378,994
Financial charges
+€444,057
Taxes
-€271,746
Result 2025
€1.1m
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
+€4.0m
Investment
€0
Financing
-€5.1m
Cash 2024
€3.0m
From operations (derived)
+€4.0m
Net result for the year
+€1.1m
Depreciation
+€2.6m
Receivables within one year
-€71,214
Deferred charges and accrued income
-€1,418
Provisions
+€109,200
Trade debts
-€38,164
Tax, wage and social debts
+€234,548
Financing
-€5.1m
Debts after one year
-€3.8m
Current portion of long-term debt
-€786,979
Contributions, distributions and other
-€500,322
Cash 2025
€1.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,012,365 | €30,334,471 | -€3.7m | -10.8% |
| Fixed assets | 21/28 | €29,700,008 | €27,093,284 | -€2.6m | -8.8% |
| Tangible fixed assets | 22/27 | €29,700,008 | €27,093,284 | -€2.6m | -8.8% |
| Plant, machinery and equipment | 23 | €29,700,008 | €27,093,284 | -€2.6m | -8.8% |
| Current assets | 29/58 | €4,312,357 | €3,241,187 | -€1.1m | -24.8% |
| Amounts receivable within one year | 40/41 | €1,166,691 | €1,237,905 | +€71,214 | +6.1% |
| Trade receivables | 40 | €1,163,600 | €1,236,888 | +€73,288 | +6.3% |
| Other amounts receivable | 41 | €3,091 | €1,017 | -€2,073 | -67.1% |
| Cash at bank and in hand | 54/58 | €2,978,115 | €1,834,312 | -€1.1m | -38.4% |
| Deferred charges and accrued income | 490/1 | €167,552 | €168,970 | +€1,418 | +0.8% |
| Total equity and liabilities | 10/49 | €34,012,365 | €30,334,471 | -€3.7m | -10.8% |
| Equity | 10/15 | €16,706,938 | €17,355,772 | +€648,834 | +3.9% |
| Contributions | 10/11 | €10,600,050 | €10,600,050 | = | 0.0% |
| Capital | 10 | €10,600,050 | €10,600,050 | = | 0.0% |
| Issued capital | 100 | €10,600,050 | €10,600,050 | = | 0.0% |
| Reserves | 13 | €897,039 | €954,497 | +€57,458 | +6.4% |
| Non-distributable reserves | 130/1 | €897,039 | €954,497 | +€57,458 | +6.4% |
| Legal reserve | 130 | €897,039 | €954,497 | +€57,458 | +6.4% |
| Profit (loss) carried forward | 14 | €5,209,849 | €5,801,225 | +€591,376 | +11.4% |
| Provisions and deferred taxes | 16 | €924,700 | €1,033,900 | +€109,200 | +11.8% |
| Provisions for liabilities and charges | 160/5 | €924,700 | €1,033,900 | +€109,200 | +11.8% |
| Other liabilities and charges | 164/5 | €924,700 | €1,033,900 | +€109,200 | +11.8% |
| Amounts payable | 17/49 | €16,380,727 | €11,944,799 | -€4.4m | -27.1% |
| Amounts payable after more than one year | 17 | €11,733,771 | €7,888,438 | -€3.8m | -32.8% |
| Financial debts | 170/4 | €11,733,771 | €7,888,438 | -€3.8m | -32.8% |
| Credit institutions | 173 | €11,733,771 | €7,888,438 | -€3.8m | -32.8% |
| Amounts payable within one year | 42/48 | €4,646,956 | €4,056,361 | -€590,595 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €3,237,634 | €2,450,655 | -€786,979 | -24.3% |
| Trade debts | 44 | €679,300 | €641,136 | -€38,164 | -5.6% |
| Suppliers | 440/4 | €679,300 | €641,136 | -€38,164 | -5.6% |
| Taxes, remuneration and social security | 45 | €229,699 | €464,247 | +€234,548 | +102.1% |
| Taxes | 450/3 | €229,699 | €464,247 | +€234,548 | +102.1% |
| Other amounts payable | 47/48 | €500,322 | €500,322 | = | 0.0% |
| Operating income | 70/76A | €5,338,972 | €6,126,910 | +€787,938 | +14.8% |
| Turnover | 70 | €5,311,451 | €6,120,932 | +€809,480 | +15.2% |
| Other operating income | 74 | €27,521 | €5,979 | -€21,542 | -78.3% |
| Operating charges | 60/66A | €4,414,678 | €4,264,726 | -€149,953 | -3.4% |
| Services and other goods | 61 | €1,692,041 | €1,541,883 | -€150,158 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,606,724 | €2,606,724 | -€0 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €109,200 | €109,200 | = | 0.0% |
| Other operating charges | 640/8 | €6,713 | €6,919 | +€206 | +3.1% |
| Operating profit (loss) | 9901 | €924,294 | €1,862,184 | +€937,891 | +101.5% |
| Financial income | 75/76B | €648,947 | €269,952 | -€378,994 | -58.4% |
| Recurring financial income | 75 | €648,947 | €269,952 | -€378,994 | -58.4% |
| Income from current assets | 751 | €648,943 | €269,952 | -€378,991 | -58.4% |
| Other financial income | 752/9 | €4 | - | -€4 | |
| Financial charges | 65/66B | €1,015,975 | €571,918 | -€444,057 | -43.7% |
| Recurring financial charges | 65 | €1,015,975 | €571,918 | -€444,057 | -43.7% |
| Debt charges | 650 | €977,981 | €555,293 | -€422,687 | -43.2% |
| Other financial charges | 652/9 | €37,994 | €16,625 | -€21,369 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €557,266 | €1,560,219 | +€1.0m | +180.0% |
| Income taxes | 67/77 | €139,317 | €411,063 | +€271,746 | +195.1% |
| Taxes | 670/3 | €139,317 | €411,063 | +€271,746 | +195.1% |
| Profit (loss) for the period | 9904 | €417,950 | €1,149,156 | +€731,207 | +175.0% |
| Profit (loss) for the period to be appropriated | 9905 | €417,950 | €1,149,156 | +€731,207 | +175.0% |
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 4 October 2026 via checked.be.