WINDELS-STEYAERT: 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.
WINDELS-STEYAERT
Largest movements
- Tangible fixed assets -€8,731
down €8,731 (-93.3%), from €9,358 to €627
of which Land and buildings: -€7,684
- Cash -€1,919
down €1,919 (-71.4%), from €2,687 to €768
mainly Net result for the year (-€11,103)
- Receivables within one year -€184
down €184 (-44.0%), from €419 to €235
- Profit (loss) carried forward -€11,103
down €11,103 (-141%), from -€7,866 to -€18,969
- Other debts +€269
up €269 (+2.2%), from €12,270 to €12,539
- Gross operating margin -€17,516
down €17,516, from €16,451 to -€1,065
- Financial charges +€7,355
up €7,355 (+997%), from €737 to €8,093
of which Non-recurring financial charges: +€7,684
- Depreciation -€2,019
down €2,019 (-65.9%), from €3,066 to €1,047
- Other operating charges +€220
up €220 (+32.5%), from €678 to €898
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 | €12,464 | €1,630 | -€10,834 | -86.9% |
| Fixed assets | 21/28 | €9,358 | €627 | -€8,731 | -93.3% |
| Tangible fixed assets | 22/27 | €9,358 | €627 | -€8,731 | -93.3% |
| Land and buildings | 22 | €7,684 | - | -€7,684 | |
| Plant, machinery and equipment | 23 | €980 | €280 | -€700 | -71.4% |
| Furniture and vehicles | 24 | €694 | €347 | -€347 | -50.0% |
| Current assets | 29/58 | €3,106 | €1,003 | -€2,103 | -67.7% |
| Amounts receivable within one year | 40/41 | €419 | €235 | -€184 | -44.0% |
| Other amounts receivable | 41 | €419 | €235 | -€184 | -44.0% |
| Cash at bank and in hand | 54/58 | €2,687 | €768 | -€1,919 | -71.4% |
| Total equity and liabilities | 10/49 | €12,464 | €1,630 | -€10,834 | -86.9% |
| Equity | 10/15 | €194 | -€10,909 | -€11,103 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,866 | -€18,969 | -€11,103 | -141% |
| Amounts payable | 17/49 | €12,270 | €12,539 | +€269 | +2.2% |
| Amounts payable within one year | 42/48 | €12,270 | €12,539 | +€269 | +2.2% |
| Other amounts payable | 47/48 | €12,270 | €12,539 | +€269 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,066 | €1,047 | -€2,019 | -65.9% |
| Other operating charges | 640/8 | €678 | €898 | +€220 | +32.5% |
| Gross operating margin | 9900 | €16,451 | -€1,065 | -€17,516 | |
| Operating profit (loss) | 9901 | €12,707 | -€3,010 | -€15,717 | |
| Financial charges | 65/66B | €737 | €8,093 | +€7,355 | +997% |
| Recurring financial charges | 65 | €737 | €409 | -€329 | -44.6% |
| Non-recurring financial charges | 66B | - | €7,684 | +€7,684 | |
| Profit (loss) for the period before taxes | 9903 | €11,970 | -€11,103 | -€23,073 | |
| Profit (loss) for the period | 9904 | €11,970 | -€11,103 | -€23,073 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,970 | -€11,103 | -€23,073 |
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 15 October 2026 via checked.be.