Wind4Flanders Projects Beta: 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 Beta
NACE 35.110, Production of electricity from non-renewable sources
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€44,606
2024 · -€266,440+€221,835
Equity
€20.8m
2024 · €21.2m-€444,606
Cash
€885,500
2024 · €699,665+€185,834
Balance sheet total
€39.6m
2024 · €41.3m-€1.7m
Largest movements
Assets
- Tangible fixed assets -€2.0m
down €2.0m (-5.2%), from €39.2m to €37.2m
Equity and liabilities
- Short-term financial debts -€10.6m
no longer reported in 2025 (was €10.6m)
- Debts after one year +€8.5m
new in 2025: €8.5m
- Current portion of long-term debt +€1.0m
new in 2025: €1.0m
- Trade debts -€640,767
down €640,767 (-6.9%), from €9.3m to €8.7m
- Profit (loss) carried forward -€444,606
down €444,606 (-16.5%), from €2.7m to €2.3m
Income statement
- Financial charges -€1.3m
down €1.3m (-76.2%), from €1.8m to €420,910
- Turnover -€576,909
down €576,909 (-14.2%), from €4.1m to €3.5m
- Other operating income -€545,078
down €545,078 (-94.2%), from €578,513 to €33,435
- Taxes +€62,421
up €62,421 (+94.0%), from -€66,395 to -€3,974
- Financial income +€46,883
up €46,883 (+1170.5%), from €4,005 to €50,888
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
-€266,440
Turnover
-€576,909
Other operating income
-€545,078
Services and other goods
+€21,482
Depreciation
-€8,406
Other operating charges
+€888
Financial income
+€46,883
Financial charges
+€1.3m
Taxes
-€62,421
Result 2025
-€44,606
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
+€1.8m
Investment
-€151,270
Financing
-€1.5m
Cash 2024
€699,665
From operations (derived)
+€1.8m
Net result for the year
-€44,606
Depreciation
+€2.2m
Receivables within one year
-€168,961
Deferred charges and accrued income
+€16,621
Provisions
+€50,400
Trade debts
-€640,767
Tax, wage and social debts
+€28,468
Other debts
+€400,000
Investment (derived)
-€151,270
Investment in fixed assets (net)
-€151,270
Financing
-€1.5m
Debts after one year
+€8.5m
Current portion of long-term debt
+€1.0m
Short-term financial debts
-€10.6m
Contributions, distributions and other
-€400,000
Cash 2025
€885,500
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,325,164 | €39,617,505 | -€1.7m | -4.1% |
| Fixed assets | 21/28 | €39,215,532 | €37,169,698 | -€2.0m | -5.2% |
| Tangible fixed assets | 22/27 | €39,215,532 | €37,169,698 | -€2.0m | -5.2% |
| Plant, machinery and equipment | 23 | €39,215,532 | €37,169,698 | -€2.0m | -5.2% |
| Current assets | 29/58 | €2,109,632 | €2,447,807 | +€338,175 | +16.0% |
| Amounts receivable within one year | 40/41 | €1,307,819 | €1,476,780 | +€168,961 | +12.9% |
| Trade receivables | 40 | €1,282,819 | €1,457,546 | +€174,726 | +13.6% |
| Other amounts receivable | 41 | €25,000 | €19,235 | -€5,766 | -23.1% |
| Cash at bank and in hand | 54/58 | €699,665 | €885,500 | +€185,834 | +26.6% |
| Deferred charges and accrued income | 490/1 | €102,148 | €85,527 | -€16,621 | -16.3% |
| Total equity and liabilities | 10/49 | €41,325,164 | €39,617,505 | -€1.7m | -4.1% |
| Equity | 10/15 | €21,207,646 | €20,763,041 | -€444,606 | -2.1% |
| Contributions | 10/11 | €18,500,000 | €18,500,000 | = | 0.0% |
| Capital | 10 | €18,500,000 | €18,500,000 | = | 0.0% |
| Issued capital | 100 | €18,500,000 | €18,500,000 | = | 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 | €2,697,646 | €2,253,041 | -€444,606 | -16.5% |
| Provisions and deferred taxes | 16 | €101,500 | €151,900 | +€50,400 | +49.7% |
| Provisions for liabilities and charges | 160/5 | €101,500 | €151,900 | +€50,400 | +49.7% |
| Other liabilities and charges | 164/5 | €101,500 | €151,900 | +€50,400 | +49.7% |
| Amounts payable | 17/49 | €20,016,018 | €18,702,564 | -€1.3m | -6.6% |
| Amounts payable after more than one year | 17 | - | €8,519,627 | +€8.5m | |
| Financial debts | 170/4 | - | €8,519,627 | +€8.5m | |
| Other loans | 174 | - | €8,519,627 | +€8.5m | |
| Amounts payable within one year | 42/48 | €20,016,018 | €10,182,938 | -€9.8m | -49.1% |
| Current portion of amounts payable after more than one year | 42 | - | €1,002,309 | +€1.0m | |
| Financial debts | 43 | €10,623,090 | - | -€10.6m | |
| Other loans | 439 | €10,623,090 | - | -€10.6m | |
| Trade debts | 44 | €9,336,705 | €8,695,938 | -€640,767 | -6.9% |
| Suppliers | 440/4 | €9,336,705 | €8,695,938 | -€640,767 | -6.9% |
| Taxes, remuneration and social security | 45 | €56,223 | €84,691 | +€28,468 | +50.6% |
| Taxes | 450/3 | €56,223 | €84,691 | +€28,468 | +50.6% |
| Other amounts payable | 47/48 | - | €400,000 | +€400,000 | |
| Operating income | 70/76A | €4,651,597 | €3,529,610 | -€1.1m | -24.1% |
| Turnover | 70 | €4,073,084 | €3,496,176 | -€576,909 | -14.2% |
| Other operating income | 74 | €578,513 | €33,435 | -€545,078 | -94.2% |
| Operating charges | 60/66A | €3,222,132 | €3,208,168 | -€13,964 | -0.4% |
| Services and other goods | 61 | €982,146 | €960,664 | -€21,482 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,188,699 | €2,197,104 | +€8,406 | +0.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €50,400 | €50,400 | = | 0.0% |
| Other operating charges | 640/8 | €888 | €0 | -€888 | -100.0% |
| Operating profit (loss) | 9901 | €1,429,466 | €321,442 | -€1.1m | -77.5% |
| Financial income | 75/76B | €4,005 | €50,888 | +€46,883 | +1170.5% |
| Recurring financial income | 75 | €4,005 | €50,888 | +€46,883 | +1170.5% |
| Income from current assets | 751 | €4,005 | €50,888 | +€46,883 | +1170.5% |
| Financial charges | 65/66B | €1,766,306 | €420,910 | -€1.3m | -76.2% |
| Recurring financial charges | 65 | €1,766,306 | €420,910 | -€1.3m | -76.2% |
| Debt charges | 650 | €1,725,443 | €420,469 | -€1.3m | -75.6% |
| Other financial charges | 652/9 | €40,863 | €441 | -€40,422 | -98.9% |
| Profit (loss) for the period before taxes | 9903 | -€332,835 | -€48,579 | +€284,256 | +85.4% |
| Income taxes | 67/77 | -€66,395 | -€3,974 | +€62,421 | +94.0% |
| Tax adjustments and reversals of tax provisions | 77 | €66,395 | €3,974 | -€62,421 | -94.0% |
| Profit (loss) for the period | 9904 | -€266,440 | -€44,606 | +€221,835 | +83.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€266,440 | -€44,606 | +€221,835 | +83.3% |
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 5 October 2026 via checked.be.