WINDEL: 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.
WINDEL
Largest movements
- Cash +€10,200
up €10,200 (+9.7%), from €105,553 to €115,753
mainly Depreciation (+€7,992) and Net result for the year (+€3,516)
- Tangible fixed assets -€3,603
down €3,603 (-3.5%), from €104,260 to €100,658
- Receivables within one year -€2,600
down €2,600 (-100%), from €2,600 to €0
- Profit (loss) carried forward +€3,516
up €3,516 (+13.1%), from €26,749 to €30,265
- Gross operating margin -€2,263
down €2,263 (-9.6%), from €23,613 to €21,351
- Taxes -€773
down €773 (-37.8%), from €2,046 to €1,273
- Depreciation +€381
up €381 (+5.0%), from €7,611 to €7,992
- Other operating charges +€262
up €262 (+3.1%), from €8,518 to €8,780
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,721 | €216,410 | +€2,689 | +1.3% |
| Fixed assets | 21/28 | €104,260 | €100,658 | -€3,603 | -3.5% |
| Tangible fixed assets | 22/27 | €104,260 | €100,658 | -€3,603 | -3.5% |
| Land and buildings | 22 | €104,260 | €100,658 | -€3,603 | -3.5% |
| Current assets | 29/58 | €109,461 | €115,753 | +€6,292 | +5.7% |
| Amounts receivable within one year | 40/41 | €2,600 | €0 | -€2,600 | -100% |
| Other amounts receivable | 41 | €2,600 | €0 | -€2,600 | -100% |
| Cash at bank and in hand | 54/58 | €105,553 | €115,753 | +€10,200 | +9.7% |
| Deferred charges and accrued income | 490/1 | €1,308 | €0 | -€1,308 | -100% |
| Total equity and liabilities | 10/49 | €213,721 | €216,410 | +€2,689 | +1.3% |
| Equity | 10/15 | €211,693 | €215,209 | +€3,516 | +1.7% |
| Contributions | 10/11 | €124,215 | €124,215 | = | 0.0% |
| Capital | 10 | €124,215 | €124,215 | = | 0.0% |
| Issued capital | 100 | €124,215 | €124,215 | = | 0.0% |
| Reserves | 13 | €60,729 | €60,729 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,697 | €6,697 | = | 0.0% |
| Legal reserve | 130 | €6,697 | €6,697 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,585 | €15,585 | = | 0.0% |
| Distributable reserves | 133 | €38,447 | €38,447 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,749 | €30,265 | +€3,516 | +13.1% |
| Amounts payable | 17/49 | €2,028 | €1,201 | -€827 | -40.8% |
| Amounts payable within one year | 42/48 | €2,028 | €1,201 | -€827 | -40.8% |
| Taxes, remuneration and social security | 45 | €2,028 | €1,201 | -€827 | -40.8% |
| Taxes | 450/3 | €2,028 | €1,201 | -€827 | -40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,611 | €7,992 | +€381 | +5.0% |
| Other operating charges | 640/8 | €8,518 | €8,780 | +€262 | +3.1% |
| Gross operating margin | 9900 | €23,613 | €21,351 | -€2,263 | -9.6% |
| Operating profit (loss) | 9901 | €7,484 | €4,579 | -€2,905 | -38.8% |
| Financial income | 75/76B | €60 | €240 | +€181 | +304% |
| Recurring financial income | 75 | €60 | €240 | +€181 | +304% |
| Financial charges | 65/66B | €30 | €30 | +€0 | +0.9% |
| Recurring financial charges | 65 | €30 | €30 | +€0 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €7,513 | €4,789 | -€2,724 | -36.3% |
| Income taxes | 67/77 | €2,046 | €1,273 | -€773 | -37.8% |
| Profit (loss) for the period | 9904 | €5,467 | €3,516 | -€1,952 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,467 | €3,516 | -€1,952 | -35.7% |
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 16 October 2026 via checked.be.