Wind4Flanders Projects Alfa: 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 Alfa
NACE 35.110, Production of electricity from non-renewable sources
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€475,241
2024 · -€417,417-€57,824
Equity
€2.2m
2024 · €2.7m-€475,241
Cash
€1.2m
2024 · €1.6m-€441,333
Balance sheet total
€54.8m
2024 · €58.7m-€3.9m
Largest movements
Assets
- Tangible fixed assets -€3.1m
down €3.1m (-6.2%), from €49.5m to €46.4m
Equity and liabilities
- Debts after one year -€2.9m
down €2.9m (-6.0%), from €48.1m to €45.2m
- Trade debts -€794,205
down €794,205 (-50.4%), from €1.6m to €781,570
Income statement
- Financial charges -€939,394
down €939,394 (-34.2%), from €2.7m to €1.8m
- Financial income -€777,421
down €777,421 (-41.5%), from €1.9m to €1.1m
- Other operating income -€402,927
down €402,927 (-97.4%), from €413,527 to €10,600
- Services and other goods -€122,297
down €122,297 (-7.2%), from €1.7m to €1.6m
- Turnover +€99,403
up €99,403 (+2.0%), from €4.9m to €5.0m
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
-€417,417
Turnover
+€99,403
Other operating income
-€402,927
Services and other goods
+€122,297
Depreciation
-€578
Other operating charges
-€760
Financial income
-€777,421
Financial charges
+€939,394
Taxes
-€37,232
Result 2025
-€475,241
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
+€2.7m
Investment
-€310,310
Financing
-€2.8m
Cash 2024
€1.6m
From operations (derived)
+€2.7m
Net result for the year
-€475,241
Depreciation
+€3.1m
Receivables within one year
+€539,779
Deferred charges and accrued income
+€134,380
Provisions
+€75,600
Trade debts
-€794,205
Tax, wage and social debts
+€18,447
Accrued charges and deferred income
+€107,413
Investment (derived)
-€310,310
Investment in fixed assets (net)
-€10,310
Current investments
-€300,000
Financing
-€2.8m
Debts after one year
-€2.9m
Current portion of long-term debt
+€54,600
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,699,444 | €54,804,257 | -€3.9m | -6.6% |
| Fixed assets | 21/28 | €49,457,955 | €46,378,261 | -€3.1m | -6.2% |
| Tangible fixed assets | 22/27 | €49,457,955 | €46,378,261 | -€3.1m | -6.2% |
| Plant, machinery and equipment | 23 | €49,457,955 | €46,378,261 | -€3.1m | -6.2% |
| Current assets | 29/58 | €9,241,488 | €8,425,996 | -€815,492 | -8.8% |
| Amounts receivable within one year | 40/41 | €1,451,938 | €912,159 | -€539,779 | -37.2% |
| Trade receivables | 40 | €1,429,192 | €854,393 | -€574,799 | -40.2% |
| Other amounts receivable | 41 | €22,746 | €57,766 | +€35,020 | +154.0% |
| Current investments | 50/53 | €5,700,000 | €6,000,000 | +€300,000 | +5.3% |
| Other investments | 51/53 | €5,700,000 | €6,000,000 | +€300,000 | +5.3% |
| Cash at bank and in hand | 54/58 | €1,593,081 | €1,151,748 | -€441,333 | -27.7% |
| Deferred charges and accrued income | 490/1 | €496,469 | €362,089 | -€134,380 | -27.1% |
| Total equity and liabilities | 10/49 | €58,699,444 | €54,804,257 | -€3.9m | -6.6% |
| Equity | 10/15 | €2,705,521 | €2,230,280 | -€475,241 | -17.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,595,521 | €2,120,280 | -€475,241 | -18.3% |
| Provisions and deferred taxes | 16 | €225,400 | €301,000 | +€75,600 | +33.5% |
| Provisions for liabilities and charges | 160/5 | €225,400 | €301,000 | +€75,600 | +33.5% |
| Other liabilities and charges | 164/5 | €225,400 | €301,000 | +€75,600 | +33.5% |
| Amounts payable | 17/49 | €55,768,523 | €52,272,977 | -€3.5m | -6.3% |
| Amounts payable after more than one year | 17 | €48,079,200 | €45,197,400 | -€2.9m | -6.0% |
| Financial debts | 170/4 | €48,079,200 | €45,197,400 | -€2.9m | -6.0% |
| Credit institutions | 173 | €48,079,200 | €45,197,400 | -€2.9m | -6.0% |
| Amounts payable within one year | 42/48 | €7,398,088 | €6,676,929 | -€721,159 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €5,733,301 | €5,787,901 | +€54,600 | +1.0% |
| Trade debts | 44 | €1,575,775 | €781,570 | -€794,205 | -50.4% |
| Suppliers | 440/4 | €1,575,775 | €781,570 | -€794,205 | -50.4% |
| Taxes, remuneration and social security | 45 | €89,011 | €107,458 | +€18,447 | +20.7% |
| Taxes | 450/3 | €89,011 | €107,458 | +€18,447 | +20.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €291,235 | €398,647 | +€107,413 | +36.9% |
| Operating income | 70/76A | €5,279,806 | €4,976,282 | -€303,524 | -5.7% |
| Turnover | 70 | €4,866,278 | €4,965,682 | +€99,403 | +2.0% |
| Other operating income | 74 | €413,527 | €10,600 | -€402,927 | -97.4% |
| Operating charges | 60/66A | €4,865,642 | €4,744,683 | -€120,959 | -2.5% |
| Services and other goods | 61 | €1,696,950 | €1,574,654 | -€122,297 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,089,426 | €3,090,004 | +€578 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €75,600 | €75,600 | = | 0.0% |
| Other operating charges | 640/8 | €3,666 | €4,425 | +€760 | +20.7% |
| Operating profit (loss) | 9901 | €414,163 | €231,598 | -€182,565 | -44.1% |
| Financial income | 75/76B | €1,875,085 | €1,097,664 | -€777,421 | -41.5% |
| Recurring financial income | 75 | €1,875,085 | €1,097,664 | -€777,421 | -41.5% |
| Income from current assets | 751 | €1,875,085 | €1,097,664 | -€777,421 | -41.5% |
| Financial charges | 65/66B | €2,743,898 | €1,804,503 | -€939,394 | -34.2% |
| Recurring financial charges | 65 | €2,743,898 | €1,804,503 | -€939,394 | -34.2% |
| Debt charges | 650 | €2,730,397 | €1,791,518 | -€938,879 | -34.4% |
| Other financial charges | 652/9 | €13,501 | €12,986 | -€516 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | -€454,649 | -€475,241 | -€20,592 | -4.5% |
| Income taxes | 67/77 | -€37,232 | - | +€37,232 | |
| Tax adjustments and reversals of tax provisions | 77 | €37,232 | - | -€37,232 | |
| Profit (loss) for the period | 9904 | -€417,417 | -€475,241 | -€57,824 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€417,417 | -€475,241 | -€57,824 | -13.9% |
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 8 October 2026 via checked.be.