Windels Engineering and Projects: 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.
Windels Engineering and Projects
Largest movements
- Cash -€30,614
down €30,614 (-39.5%), from €77,599 to €46,985
mainly Contributions, distributions and other (-€17,958) and Investment in fixed assets (net) (-€15,812)
- Tangible fixed assets +€7,999
up €7,999 (+55.4%), from €14,432 to €22,431
of which Furniture and vehicles: +€8,989
- Receivables within one year +€4,238
up €4,238 (+10.6%), from €40,094 to €44,332
of which Trade receivables: +€4,381
- Receivables after one year -€2,202
down €2,202 (-9.0%), from €24,421 to €22,219
- Trade debts -€14,256
down €14,256 (-93.0%), from €15,329 to €1,072
- Reserves -€5,732
down €5,732 (-5.1%), from €111,809 to €106,077
of which Distributable reserves: -€5,732
- Tax, wage and social debts -€4,886
down €4,886 (-50.4%), from €9,700 to €4,814
- Other debts +€3,967
up €3,967 (+22.1%), from €17,986 to €21,953
- Gross operating margin +€14,374
up €14,374 (+77.0%), from €18,680 to €33,054
- Other operating charges +€5,885
up €5,885 (+238.5%), from €2,467 to €8,352
- Depreciation +€5,016
up €5,016 (+179.3%), from €2,797 to €7,813
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €161,023 | €140,116 | -€20,907 | -13.0% |
| Fixed assets | 21/28 | €14,432 | €22,431 | +€7,999 | +55.4% |
| Tangible fixed assets | 22/27 | €14,432 | €22,431 | +€7,999 | +55.4% |
| Furniture and vehicles | 24 | €4,537 | €13,526 | +€8,989 | +198.1% |
| Other tangible fixed assets | 26 | €9,895 | €8,905 | -€990 | -10.0% |
| Current assets | 29/58 | €146,592 | €117,686 | -€28,906 | -19.7% |
| Amounts receivable after more than one year | 29 | €24,421 | €22,219 | -€2,202 | -9.0% |
| Other amounts receivable | 291 | €24,421 | €22,219 | -€2,202 | -9.0% |
| Amounts receivable within one year | 40/41 | €40,094 | €44,332 | +€4,238 | +10.6% |
| Trade receivables | 40 | €37,728 | €42,109 | +€4,381 | +11.6% |
| Other amounts receivable | 41 | €2,366 | €2,223 | -€143 | -6.0% |
| Cash at bank and in hand | 54/58 | €77,599 | €46,985 | -€30,614 | -39.5% |
| Deferred charges and accrued income | 490/1 | €4,478 | €4,150 | -€328 | -7.3% |
| Total equity and liabilities | 10/49 | €161,023 | €140,116 | -€20,907 | -13.0% |
| Equity | 10/15 | €118,009 | €112,277 | -€5,732 | -4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €111,809 | €106,077 | -€5,732 | -5.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €111,809 | €106,077 | -€5,732 | -5.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €43,014 | €27,839 | -€15,175 | -35.3% |
| Amounts payable within one year | 42/48 | €43,014 | €27,839 | -€15,175 | -35.3% |
| Trade debts | 44 | €15,329 | €1,072 | -€14,256 | -93.0% |
| Suppliers | 440/4 | €15,329 | €1,072 | -€14,256 | -93.0% |
| Taxes, remuneration and social security | 45 | €9,700 | €4,814 | -€4,886 | -50.4% |
| Taxes | 450/3 | €9,700 | €4,814 | -€4,886 | -50.4% |
| Other amounts payable | 47/48 | €17,986 | €21,953 | +€3,967 | +22.1% |
| Non-recurring operating income | 76A | - | €9,616 | +€9,616 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,797 | €7,813 | +€5,016 | +179.3% |
| Other operating charges | 640/8 | €2,467 | €8,352 | +€5,885 | +238.5% |
| Gross operating margin | 9900 | €18,680 | €33,054 | +€14,374 | +77.0% |
| Operating profit (loss) | 9901 | €13,415 | €16,889 | +€3,473 | +25.9% |
| Financial income | 75/76B | €793 | €759 | -€35 | -4.4% |
| Recurring financial income | 75 | €793 | €759 | -€35 | -4.4% |
| Financial charges | 65/66B | €353 | €441 | +€89 | +25.2% |
| Recurring financial charges | 65 | €353 | €441 | +€89 | +25.2% |
| Profit (loss) for the period before taxes | 9903 | €13,856 | €17,206 | +€3,350 | +24.2% |
| Income taxes | 67/77 | €4,774 | €4,979 | +€205 | +4.3% |
| Profit (loss) for the period | 9904 | €9,082 | €12,227 | +€3,145 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,082 | €12,227 | +€3,145 | +34.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.