WINDEY: 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.
WINDEY
Largest movements
- Cash +€255,565
up €255,565 (+255.5%), from €100,009 to €355,574
mainly Net result for the year (+€1.3m) and Depreciation (+€585,589)
- Receivables within one year +€244,881
up €244,881 (+22.7%), from €1.1m to €1.3m
of which Trade receivables: +€174,672
- Deferred charges and accrued income +€183,800
up €183,800 (+250.7%), from €73,314 to €257,114
- Tangible fixed assets +€174,191
up €174,191 (+9.5%), from €1.8m to €2.0m
of which Furniture and vehicles: +€448,951
- Stocks and contracts +€131,671
up €131,671 (+13.6%), from €967,578 to €1.1m
- Current portion of long-term debt +€418,102
up €418,102 (+56.4%), from €741,720 to €1.2m
- Other debts +€400,099
up €400,099 (+114.2%), from €350,467 to €750,566
- Contributions -€180,000
down €180,000 (-50.0%), from €360,000 to €180,000
- Reserves +€145,625
up €145,625 (+7.7%), from €1.9m to €2.0m
of which Distributable reserves: +€229,825
- Debts after one year +€100,515
up €100,515 (+13.9%), from €721,485 to €821,999
- Gross operating margin +€1.2m
up €1.2m (+42.9%), from €2.7m to €3.9m
- Staff costs +€321,023
up €321,023 (+21.7%), from €1.5m to €1.8m
- Financial income +€165,889
up €165,889 (+992.7%), from €16,710 to €182,600
of which Non-recurring financial income: +€166,863
- Taxes +€117,342
up €117,342 (+79.5%), from €147,577 to €264,918
- Depreciation +€59,682
up €59,682 (+11.3%), from €525,907 to €585,589
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 | €4,775,950 | €5,823,288 | +€1.0m | +21.9% |
| Fixed assets | 21/28 | €2,556,146 | €2,742,482 | +€186,336 | +7.3% |
| Intangible fixed assets | 21 | €478,822 | €473,622 | -€5,200 | -1.1% |
| Tangible fixed assets | 22/27 | €1,829,878 | €2,004,070 | +€174,191 | +9.5% |
| Land and buildings | 22 | €193,006 | €183,146 | -€9,860 | -5.1% |
| Plant, machinery and equipment | 23 | €837,326 | €673,444 | -€163,883 | -19.6% |
| Furniture and vehicles | 24 | €380,220 | €829,172 | +€448,951 | +118.1% |
| Leasing and similar rights | 25 | €408,826 | €307,809 | -€101,017 | -24.7% |
| Other tangible fixed assets | 26 | €10,500 | €10,500 | = | 0.0% |
| Financial fixed assets | 28 | €247,445 | €264,790 | +€17,345 | +7.0% |
| Current assets | 29/58 | €2,219,804 | €3,080,806 | +€861,002 | +38.8% |
| Stocks and contracts in progress | 3 | €967,578 | €1,099,248 | +€131,671 | +13.6% |
| Contracts in progress | 37 | €967,578 | €1,099,248 | +€131,671 | +13.6% |
| Amounts receivable within one year | 40/41 | €1,078,904 | €1,323,785 | +€244,881 | +22.7% |
| Trade receivables | 40 | €275,630 | €450,302 | +€174,672 | +63.4% |
| Other amounts receivable | 41 | €803,274 | €873,483 | +€70,209 | +8.7% |
| Current investments | 50/53 | - | €45,084 | +€45,084 | |
| Cash at bank and in hand | 54/58 | €100,009 | €355,574 | +€255,565 | +255.5% |
| Deferred charges and accrued income | 490/1 | €73,314 | €257,114 | +€183,800 | +250.7% |
| Total equity and liabilities | 10/49 | €4,775,950 | €5,823,288 | +€1.0m | +21.9% |
| Equity | 10/15 | €2,327,024 | €2,249,282 | -€77,743 | -3.3% |
| Contributions | 10/11 | €360,000 | €180,000 | -€180,000 | -50.0% |
| Capital | 10 | €360,000 | €180,000 | -€180,000 | -50.0% |
| Issued capital | 100 | €360,000 | €180,000 | -€180,000 | -50.0% |
| Reserves | 13 | €1,879,907 | €2,025,532 | +€145,625 | +7.7% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €421,000 | €336,800 | -€84,200 | -20.0% |
| Distributable reserves | 133 | €1,398,907 | €1,628,732 | +€229,825 | +16.4% |
| Profit (loss) carried forward | 14 | €87,118 | €43,750 | -€43,368 | -49.8% |
| Amounts payable | 17/49 | €2,448,926 | €3,574,006 | +€1.1m | +45.9% |
| Amounts payable after more than one year | 17 | €721,485 | €821,999 | +€100,515 | +13.9% |
| Financial debts | 170/4 | €721,485 | €821,999 | +€100,515 | +13.9% |
| Amounts payable within one year | 42/48 | €1,688,013 | €2,663,677 | +€975,664 | +57.8% |
| Current portion of amounts payable after more than one year | 42 | €741,720 | €1,159,822 | +€418,102 | +56.4% |
| Trade debts | 44 | €431,813 | €520,882 | +€89,069 | +20.6% |
| Suppliers | 440/4 | €431,813 | €520,882 | +€89,069 | +20.6% |
| Taxes, remuneration and social security | 45 | €164,014 | €232,407 | +€68,393 | +41.7% |
| Taxes | 450/3 | €45,750 | €87,896 | +€42,146 | +92.1% |
| Remuneration and social security | 454/9 | €118,264 | €144,511 | +€26,247 | +22.2% |
| Other amounts payable | 47/48 | €350,467 | €750,566 | +€400,099 | +114.2% |
| Accrued charges and deferred income | 492/3 | €39,427 | €88,330 | +€48,902 | +124.0% |
| Non-recurring operating income | 76A | €51,526 | €3,784 | -€47,742 | -92.7% |
| Remuneration, social security and pensions | 62 | €1,481,672 | €1,802,695 | +€321,023 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €525,907 | €585,589 | +€59,682 | +11.3% |
| Other operating charges | 640/8 | €36,123 | €37,212 | +€1,089 | +3.0% |
| Non-recurring operating charges | 66A | €6,747 | €6,563 | -€185 | -2.7% |
| Gross operating margin | 9900 | €2,710,032 | €3,872,677 | +€1.2m | +42.9% |
| Operating profit (loss) | 9901 | €659,583 | €1,440,620 | +€781,036 | +118.4% |
| Financial income | 75/76B | €16,710 | €182,600 | +€165,889 | +992.7% |
| Recurring financial income | 75 | €11,073 | €10,100 | -€974 | -8.8% |
| Non-recurring financial income | 76B | €5,637 | €172,500 | +€166,863 | +2960.1% |
| Financial charges | 65/66B | €48,838 | €62,724 | +€13,886 | +28.4% |
| Recurring financial charges | 65 | €48,838 | €62,724 | +€13,886 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €627,456 | €1,560,495 | +€933,039 | +148.7% |
| Income taxes | 67/77 | €147,577 | €264,918 | +€117,342 | +79.5% |
| Profit (loss) for the period | 9904 | €479,879 | €1,295,577 | +€815,697 | +170.0% |
| Transfer from tax-exempt reserves | 789 | €178,000 | €84,200 | -€93,800 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €657,879 | €1,379,777 | +€721,897 | +109.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.