WIND4WALLONIA 2: 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
WIND4WALLONIA 2
NACE 35.110, Production of electricity from non-renewable sources
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€663,819
2024 · €2.1m-€1.5m
Equity
€10.2m
2024 · €9.5m+€663,819
Cash
€1.3m
2024 · €551,957+€763,076
Balance sheet total
€48.7m
2024 · €52.1m-€3.3m
Largest movements
Assets
- Tangible fixed assets -€2.7m
down €2.7m (-6.4%), from €43.1m to €40.3m
- Receivables within one year -€974,425
down €974,425 (-38.3%), from €2.5m to €1.6m
of which Trade receivables: -€977,449
- Cash +€763,076
up €763,076 (+138%), from €551,957 to €1.3m
mainly Depreciation (+€2.8m) and Receivables within one year (+€974,425)
Equity and liabilities
- Debts after one year -€3.4m
down €3.4m (-9.3%), from €36.9m to €33.5m
- Profit (loss) carried forward +€663,819
up €663,819 (+8.1%), from €8.2m to €8.9m
Income statement
- Turnover -€1.7m
down €1.7m (-23.2%), from €7.5m to €5.8m
- Financial charges -€783,567
down €783,567 (-34.3%), from €2.3m to €1.5m
- Financial income -€655,576
down €655,576 (-39.6%), from €1.7m to €999,945
- Taxes -€272,327
down €272,327 (-90.7%), from €300,145 to €27,818
- Other operating income -€145,806
down €145,806 (-76.6%), from €190,307 to €44,501
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
€2.1m
Turnover
-€1.7m
Other operating income
-€145,806
Services and other goods
+€28,424
Depreciation
-€633
Other operating charges
+€1,668
Financial income
-€655,576
Financial charges
+€783,567
Taxes
+€272,327
Result 2025
€663,819
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
+€4.4m
Investment
+€215,404
Financing
-€3.8m
Cash 2024
€551,957
From operations (derived)
+€4.4m
Net result for the year
+€663,819
Depreciation
+€2.8m
Receivables within one year
+€974,425
Deferred charges and accrued income
+€107,880
Provisions
+€100,800
Trade debts
-€198,964
Tax, wage and social debts
-€58,273
Investment (derived)
+€215,404
Investment in fixed assets (net)
-€2,096
Current investments
+€217,499
Financing
-€3.8m
Debts after one year
-€3.4m
Current portion of long-term debt
-€360,700
Short-term financial debts
-€31,845
Cash 2025
€1.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,075,641 | €48,744,796 | -€3.3m | -6.4% |
| Formation expenses | 20 | €619,279 | €565,656 | -€53,623 | -8.7% |
| Fixed assets | 21/28 | €43,150,105 | €40,409,610 | -€2.7m | -6.4% |
| Tangible fixed assets | 22/27 | €43,090,157 | €40,349,664 | -€2.7m | -6.4% |
| Plant, machinery and equipment | 23 | €43,090,157 | €40,349,664 | -€2.7m | -6.4% |
| Financial fixed assets | 28 | €59,948 | €59,946 | -€2 | 0.0% |
| Other financial fixed assets | 284/8 | €59,948 | €59,946 | -€2 | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €59,948 | €59,946 | -€2 | 0.0% |
| Current assets | 29/58 | €8,306,258 | €7,769,530 | -€536,728 | -6.5% |
| Amounts receivable within one year | 40/41 | €2,544,000 | €1,569,575 | -€974,425 | -38.3% |
| Trade receivables | 40 | €2,242,871 | €1,265,422 | -€977,449 | -43.6% |
| Other amounts receivable | 41 | €301,129 | €304,153 | +€3,025 | +1.0% |
| Current investments | 50/53 | €5,004,101 | €4,786,601 | -€217,499 | -4.3% |
| Other investments | 51/53 | €5,004,101 | €4,786,601 | -€217,499 | -4.3% |
| Cash at bank and in hand | 54/58 | €551,957 | €1,315,033 | +€763,076 | +138% |
| Deferred charges and accrued income | 490/1 | €206,200 | €98,320 | -€107,880 | -52.3% |
| Total equity and liabilities | 10/49 | €52,075,641 | €48,744,796 | -€3.3m | -6.4% |
| Equity | 10/15 | €9,544,422 | €10,208,241 | +€663,819 | +7.0% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €120,000 | €120,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120,000 | €120,000 | = | 0.0% |
| Legal reserve | 130 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,224,422 | €8,888,241 | +€663,819 | +8.1% |
| Provisions and deferred taxes | 16 | €453,600 | €554,400 | +€100,800 | +22.2% |
| Provisions for liabilities and charges | 160/5 | €453,600 | €554,400 | +€100,800 | +22.2% |
| Environmental obligations | 163 | €453,600 | €554,400 | +€100,800 | +22.2% |
| Amounts payable | 17/49 | €42,077,619 | €37,982,155 | -€4.1m | -9.7% |
| Amounts payable after more than one year | 17 | €36,926,221 | €33,480,538 | -€3.4m | -9.3% |
| Financial debts | 170/4 | €36,926,221 | €33,480,538 | -€3.4m | -9.3% |
| Credit institutions | 173 | €33,092,900 | €29,399,300 | -€3.7m | -11.2% |
| Other loans | 174 | €3,833,321 | €4,081,238 | +€247,918 | +6.5% |
| Amounts payable within one year | 42/48 | €5,132,611 | €4,482,829 | -€649,782 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €4,054,300 | €3,693,600 | -€360,700 | -8.9% |
| Financial debts | 43 | €357,942 | €326,096 | -€31,845 | -8.9% |
| Other loans | 439 | €357,942 | €326,096 | -€31,845 | -8.9% |
| Trade debts | 44 | €553,942 | €354,978 | -€198,964 | -35.9% |
| Suppliers | 440/4 | €553,942 | €354,978 | -€198,964 | -35.9% |
| Taxes, remuneration and social security | 45 | €166,428 | €108,154 | -€58,273 | -35.0% |
| Taxes | 450/3 | €166,428 | €108,154 | -€58,273 | -35.0% |
| Accrued charges and deferred income | 492/3 | €18,787 | €18,787 | = | 0.0% |
| Operating income | 70/76A | €7,722,972 | €5,832,515 | -€1.9m | -24.5% |
| Turnover | 70 | €7,532,664 | €5,788,014 | -€1.7m | -23.2% |
| Other operating income | 74 | €190,307 | €44,501 | -€145,806 | -76.6% |
| Operating charges | 60/66A | €4,666,792 | €4,637,333 | -€29,459 | -0.6% |
| Services and other goods | 61 | €1,577,200 | €1,548,776 | -€28,424 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,795,580 | €2,796,213 | +€633 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €100,800 | €100,800 | = | 0.0% |
| Other operating charges | 640/8 | €193,212 | €191,544 | -€1,668 | -0.9% |
| Operating profit (loss) | 9901 | €3,056,180 | €1,195,182 | -€1.9m | -60.9% |
| Financial income | 75/76B | €1,655,521 | €999,945 | -€655,576 | -39.6% |
| Recurring financial income | 75 | €1,655,521 | €999,945 | -€655,576 | -39.6% |
| Income from current assets | 751 | €57,170 | €104,295 | +€47,125 | +82.4% |
| Other financial income | 752/9 | €1,598,351 | €895,650 | -€702,701 | -44.0% |
| Financial charges | 65/66B | €2,287,058 | €1,503,490 | -€783,567 | -34.3% |
| Recurring financial charges | 65 | €2,287,058 | €1,503,490 | -€783,567 | -34.3% |
| Debt charges | 650 | €2,275,991 | €1,492,417 | -€783,574 | -34.4% |
| Other financial charges | 652/9 | €11,066 | €11,073 | +€7 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €2,424,643 | €691,637 | -€1.7m | -71.5% |
| Income taxes | 67/77 | €300,145 | €27,818 | -€272,327 | -90.7% |
| Taxes | 670/3 | €300,145 | €27,818 | -€272,327 | -90.7% |
| Profit (loss) for the period | 9904 | €2,124,498 | €663,819 | -€1.5m | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,124,498 | €663,819 | -€1.5m | -68.8% |
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 17 October 2026 via checked.be.