WIND4FLANDERS PROJECTS 3: 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 3
NACE 35.110, Production of electricity from non-renewable sources
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€175,603
2024 · -€250,208+€425,811
Equity
€15.3m
2024 · €15.1m+€175,603
Cash
€4.1m
2024 · €5.0m-€887,473
Balance sheet total
€53.2m
2024 · €58.2m-€5.0m
Largest movements
Assets
- Tangible fixed assets -€4.1m
down €4.1m (-8.1%), from €50.8m to €46.6m
- Cash -€887,473
down €887,473 (-17.7%), from €5.0m to €4.1m
mainly Debts after one year (-€5.6m) and Trade debts (-€1.4m)
Equity and liabilities
- Debts after one year -€5.6m
down €5.6m (-16.5%), from €34.0m to €28.4m
- Short-term financial debts +€1.8m
new in 2025: €1.8m
- Trade debts -€1.4m
down €1.4m (-65.1%), from €2.2m to €755,061
Income statement
- Financial charges -€853,241
down €853,241 (-38.4%), from €2.2m to €1.4m
- Financial income -€747,629
down €747,629 (-59.1%), from €1.3m to €517,925
- Services and other goods -€427,219
down €427,219 (-17.8%), from €2.4m to €2.0m
- Other operating income -€279,945
down €279,945 (-80.4%), from €348,193 to €68,248
- Turnover +€167,989
up €167,989 (+2.4%), from €7.0m to €7.2m
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
-€250,208
Turnover
+€167,989
Other operating income
-€279,945
Services and other goods
+€427,219
Depreciation
+€0
Other operating charges
+€4,937
Financial income
-€747,629
Financial charges
+€853,241
Result 2025
€175,603
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
+€2.8m
Investment
€0
Financing
-€3.7m
Cash 2024
€5.0m
From operations (derived)
+€2.8m
Net result for the year
+€175,603
Depreciation
+€4.1m
Receivables within one year
+€27,636
Deferred charges and accrued income
-€9,202
Provisions
+€142,800
Trade debts
-€1.4m
Tax, wage and social debts
-€211,068
Financing
-€3.7m
Debts after one year
-€5.6m
Current portion of long-term debt
+€72,600
Short-term financial debts
+€1.8m
Cash 2025
€4.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,222,477 | €53,196,124 | -€5.0m | -8.6% |
| Fixed assets | 21/28 | €50,767,823 | €46,647,376 | -€4.1m | -8.1% |
| Tangible fixed assets | 22/27 | €50,767,823 | €46,647,376 | -€4.1m | -8.1% |
| Plant, machinery and equipment | 23 | €50,767,823 | €46,647,376 | -€4.1m | -8.1% |
| Current assets | 29/58 | €7,454,654 | €6,548,748 | -€905,907 | -12.2% |
| Amounts receivable within one year | 40/41 | €2,107,398 | €2,079,761 | -€27,636 | -1.3% |
| Trade receivables | 40 | €1,093,862 | €2,053,180 | +€959,318 | +87.7% |
| Other amounts receivable | 41 | €1,013,535 | €26,581 | -€986,954 | -97.4% |
| Cash at bank and in hand | 54/58 | €5,025,904 | €4,138,432 | -€887,473 | -17.7% |
| Deferred charges and accrued income | 490/1 | €321,352 | €330,555 | +€9,202 | +2.9% |
| Total equity and liabilities | 10/49 | €58,222,477 | €53,196,124 | -€5.0m | -8.6% |
| Equity | 10/15 | €15,140,673 | €15,316,276 | +€175,603 | +1.2% |
| Contributions | 10/11 | €8,000,050 | €8,000,050 | = | 0.0% |
| Capital | 10 | €8,000,050 | €8,000,050 | = | 0.0% |
| Issued capital | 100 | €8,000,050 | €8,000,050 | = | 0.0% |
| Reserves | 13 | €800,005 | €800,005 | = | 0.0% |
| Non-distributable reserves | 130/1 | €800,005 | €800,005 | = | 0.0% |
| Legal reserve | 130 | €800,005 | €800,005 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,340,618 | €6,516,221 | +€175,603 | +2.8% |
| Provisions and deferred taxes | 16 | €1,082,200 | €1,225,000 | +€142,800 | +13.2% |
| Provisions for liabilities and charges | 160/5 | €1,082,200 | €1,225,000 | +€142,800 | +13.2% |
| Other liabilities and charges | 164/5 | €1,082,200 | €1,225,000 | +€142,800 | +13.2% |
| Amounts payable | 17/49 | €41,999,604 | €36,654,848 | -€5.3m | -12.7% |
| Amounts payable after more than one year | 17 | €33,953,600 | €28,353,900 | -€5.6m | -16.5% |
| Financial debts | 170/4 | €33,953,600 | €28,353,900 | -€5.6m | -16.5% |
| Credit institutions | 173 | €33,953,600 | €28,353,900 | -€5.6m | -16.5% |
| Amounts payable within one year | 42/48 | €8,046,004 | €8,300,948 | +€254,944 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €5,527,100 | €5,599,700 | +€72,600 | +1.3% |
| Financial debts | 43 | - | €1,800,000 | +€1.8m | |
| Credit institutions | 430/8 | - | €1,800,000 | +€1.8m | |
| Trade debts | 44 | €2,161,649 | €755,061 | -€1.4m | -65.1% |
| Suppliers | 440/4 | €2,161,649 | €755,061 | -€1.4m | -65.1% |
| Taxes, remuneration and social security | 45 | €357,255 | €146,187 | -€211,068 | -59.1% |
| Taxes | 450/3 | €357,255 | €146,187 | -€211,068 | -59.1% |
| Operating income | 70/76A | €7,381,636 | €7,269,679 | -€111,957 | -1.5% |
| Turnover | 70 | €7,033,442 | €7,201,431 | +€167,989 | +2.4% |
| Other operating income | 74 | €348,193 | €68,248 | -€279,945 | -80.4% |
| Operating charges | 60/66A | €6,676,552 | €6,244,396 | -€432,156 | -6.5% |
| Services and other goods | 61 | €2,393,902 | €1,966,683 | -€427,219 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,120,446 | €4,120,446 | -€0 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €142,800 | €142,800 | = | 0.0% |
| Other operating charges | 640/8 | €19,404 | €14,467 | -€4,937 | -25.4% |
| Operating profit (loss) | 9901 | €705,083 | €1,025,283 | +€320,200 | +45.4% |
| Financial income | 75/76B | €1,265,554 | €517,925 | -€747,629 | -59.1% |
| Recurring financial income | 75 | €1,265,554 | €517,925 | -€747,629 | -59.1% |
| Income from current assets | 751 | €1,265,554 | €517,925 | -€747,629 | -59.1% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -18.8% |
| Financial charges | 65/66B | €2,220,846 | €1,367,605 | -€853,241 | -38.4% |
| Recurring financial charges | 65 | €2,220,846 | €1,367,605 | -€853,241 | -38.4% |
| Debt charges | 650 | €2,192,020 | €1,339,346 | -€852,675 | -38.9% |
| Other financial charges | 652/9 | €28,825 | €28,259 | -€566 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | -€250,208 | €175,603 | +€425,811 | |
| Profit (loss) for the period | 9904 | -€250,208 | €175,603 | +€425,811 | |
| Profit (loss) for the period to be appropriated | 9905 | -€250,208 | €175,603 | +€425,811 |
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.