WINDECO: 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.
WINDECO
Largest movements
- Stocks and contracts -€35,734
down €35,734 (-21.0%), from €170,305 to €134,570
- Receivables within one year -€21,143
down €21,143 (-71.1%), from €29,724 to €8,582
of which Other amounts receivable: -€19,830
- Cash -€8,893
down €8,893 (-86.2%), from €10,321 to €1,428
mainly Net result for the year (-€56,586) and Trade debts (-€54,754)
- Tangible fixed assets -€7,662
no longer reported in 2025 (was €7,662)
of which Furniture and vehicles: -€3,913
- Other debts +€89,415
up €89,415 (+20.9%), from €427,833 to €517,247
- Profit (loss) carried forward -€56,586
down €56,586 (-4.2%), from -€1.3m to -€1.4m
- Trade debts -€54,754
down €54,754 (-25.1%), from €217,871 to €163,117
- Debts after one year -€54,099
down €54,099 (-6.3%), from €863,927 to €809,828
- Current portion of long-term debt +€2,314
up €2,314 (+5.0%), from €45,947 to €48,261
- Gross operating margin +€619,570
up €619,570 (+94.3%), from -€657,058 to -€37,489
- Staff costs -€61,993
no longer reported in 2025 (was €61,993)
- Financial charges -€25,332
down €25,332 (-76.4%), from €33,160 to €7,828
of which Non-recurring financial charges: -€15,671
- Depreciation -€6,936
no longer reported in 2025 (was €6,936)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €218,011 | €144,580 | -€73,432 | -33.7% |
| Fixed assets | 21/28 | €7,662 | - | -€7,662 | |
| Tangible fixed assets | 22/27 | €7,662 | - | -€7,662 | |
| Plant, machinery and equipment | 23 | €3,749 | - | -€3,749 | |
| Furniture and vehicles | 24 | €3,913 | - | -€3,913 | |
| Current assets | 29/58 | €210,349 | €144,580 | -€65,770 | -31.3% |
| Stocks and contracts in progress | 3 | €170,305 | €134,570 | -€35,734 | -21.0% |
| Stocks | 30/36 | €170,305 | €134,570 | -€35,734 | -21.0% |
| Amounts receivable within one year | 40/41 | €29,724 | €8,582 | -€21,143 | -71.1% |
| Trade receivables | 40 | €9,894 | €8,582 | -€1,313 | -13.3% |
| Other amounts receivable | 41 | €19,830 | - | -€19,830 | |
| Cash at bank and in hand | 54/58 | €10,321 | €1,428 | -€8,893 | -86.2% |
| Total equity and liabilities | 10/49 | €218,011 | €144,580 | -€73,432 | -33.7% |
| Equity | 10/15 | -€1,340,999 | -€1,397,585 | -€56,586 | -4.2% |
| Contributions | 10/11 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,341,249 | -€1,397,835 | -€56,586 | -4.2% |
| Amounts payable | 17/49 | €1,559,010 | €1,542,165 | -€16,846 | -1.1% |
| Amounts payable after more than one year | 17 | €863,927 | €809,828 | -€54,099 | -6.3% |
| Financial debts | 170/4 | €863,927 | €809,828 | -€54,099 | -6.3% |
| Amounts payable within one year | 42/48 | €695,083 | €732,336 | +€37,253 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €45,947 | €48,261 | +€2,314 | +5.0% |
| Trade debts | 44 | €217,871 | €163,117 | -€54,754 | -25.1% |
| Suppliers | 440/4 | €217,871 | €163,117 | -€54,754 | -25.1% |
| Taxes, remuneration and social security | 45 | €3,432 | €3,710 | +€278 | +8.1% |
| Taxes | 450/3 | €3,432 | €3,710 | +€278 | +8.1% |
| Other amounts payable | 47/48 | €427,833 | €517,247 | +€89,415 | +20.9% |
| Remuneration, social security and pensions | 62 | €61,993 | - | -€61,993 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,936 | - | -€6,936 | |
| Other operating charges | 640/8 | €877 | €3,608 | +€2,731 | +311.6% |
| Non-recurring operating charges | 66A | - | €7,662 | +€7,662 | |
| Gross operating margin | 9900 | -€657,058 | -€37,489 | +€619,570 | +94.3% |
| Operating profit (loss) | 9901 | -€726,864 | -€48,758 | +€678,105 | +93.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €33,160 | €7,828 | -€25,332 | -76.4% |
| Recurring financial charges | 65 | €17,489 | €7,828 | -€9,661 | -55.2% |
| Non-recurring financial charges | 66B | €15,671 | - | -€15,671 | |
| Profit (loss) for the period before taxes | 9903 | -€760,022 | -€56,586 | +€703,437 | +92.6% |
| Profit (loss) for the period | 9904 | -€760,022 | -€56,586 | +€703,437 | +92.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€760,022 | -€56,586 | +€703,437 | +92.6% |
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 11 October 2026 via checked.be.