WINDEY MANAGEMENT: 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.
WINDEY MANAGEMENT
Largest movements
- Tangible fixed assets +€155,017
up €155,017 (+19.6%), from €789,360 to €944,377
of which Land and buildings: +€157,034
- Receivables within one year +€106,562
up €106,562 (+208.9%), from €51,016 to €157,577
of which Other amounts receivable: +€133,779
- Cash -€100,567
down €100,567 (-30.5%), from €329,599 to €229,032
mainly Investment in fixed assets (net) (-€212,832) and Other debts (-€164,761)
- Current investments +€15,084
new in 2025: €15,084
- Other debts -€164,761
down €164,761 (-62.8%), from €262,211 to €97,451
- Reserves +€157,800
up €157,800 (+57.8%), from €272,893 to €430,693
- Current portion of long-term debt +€152,074
up €152,074 (+271.5%), from €56,022 to €208,097
- Debts after one year +€127,010
up €127,010 (+64.8%), from €196,011 to €323,021
- Tax, wage and social debts -€119,462
down €119,462 (-67.8%), from €176,306 to €56,845
- Gross operating margin -€193,160
down €193,160 (-36.9%), from €522,809 to €329,649
- Taxes -€38,392
down €38,392 (-33.0%), from €116,463 to €78,071
- Other operating charges +€21,830
up €21,830 (+180.5%), from €12,093 to €33,923
- Depreciation -€12,785
down €12,785 (-18.1%), from €70,600 to €57,815
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 | €1,178,397 | €1,354,053 | +€175,657 | +14.9% |
| Fixed assets | 21/28 | €789,360 | €944,377 | +€155,017 | +19.6% |
| Tangible fixed assets | 22/27 | €789,360 | €944,377 | +€155,017 | +19.6% |
| Land and buildings | 22 | €472,094 | €629,129 | +€157,034 | +33.3% |
| Plant, machinery and equipment | 23 | €125,575 | €99,388 | -€26,187 | -20.9% |
| Furniture and vehicles | 24 | €47,245 | €29,193 | -€18,052 | -38.2% |
| Other tangible fixed assets | 26 | €144,444 | €186,667 | +€42,222 | +29.2% |
| Current assets | 29/58 | €389,037 | €409,676 | +€20,639 | +5.3% |
| Amounts receivable within one year | 40/41 | €51,016 | €157,577 | +€106,562 | +208.9% |
| Trade receivables | 40 | €27,217 | - | -€27,217 | |
| Other amounts receivable | 41 | €23,799 | €157,577 | +€133,779 | +562.1% |
| Current investments | 50/53 | - | €15,084 | +€15,084 | |
| Cash at bank and in hand | 54/58 | €329,599 | €229,032 | -€100,567 | -30.5% |
| Deferred charges and accrued income | 490/1 | €8,422 | €7,983 | -€439 | -5.2% |
| Total equity and liabilities | 10/49 | €1,178,397 | €1,354,053 | +€175,657 | +14.9% |
| Equity | 10/15 | €482,962 | €640,797 | +€157,835 | +32.7% |
| Contributions | 10/11 | €180,503 | €180,503 | = | 0.0% |
| Revaluation surpluses | 12 | €29,437 | €29,437 | = | 0.0% |
| Reserves | 13 | €272,893 | €430,693 | +€157,800 | +57.8% |
| Distributable reserves | 133 | €272,893 | €430,693 | +€157,800 | +57.8% |
| Profit (loss) carried forward | 14 | €128 | €163 | +€35 | +27.1% |
| Amounts payable | 17/49 | €695,435 | €713,257 | +€17,822 | +2.6% |
| Amounts payable after more than one year | 17 | €196,011 | €323,021 | +€127,010 | +64.8% |
| Financial debts | 170/4 | €196,011 | €323,021 | +€127,010 | +64.8% |
| Amounts payable within one year | 42/48 | €496,880 | €388,029 | -€108,851 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €56,022 | €208,097 | +€152,074 | +271.5% |
| Trade debts | 44 | €2,339 | €25,637 | +€23,297 | +995.8% |
| Suppliers | 440/4 | €2,339 | €25,637 | +€23,297 | +995.8% |
| Taxes, remuneration and social security | 45 | €176,306 | €56,845 | -€119,462 | -67.8% |
| Taxes | 450/3 | €176,306 | €56,845 | -€119,462 | -67.8% |
| Other amounts payable | 47/48 | €262,211 | €97,451 | -€164,761 | -62.8% |
| Accrued charges and deferred income | 492/3 | €2,544 | €2,207 | -€338 | -13.3% |
| Non-recurring operating income | 76A | €42,222 | €42,222 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,600 | €57,815 | -€12,785 | -18.1% |
| Other operating charges | 640/8 | €12,093 | €33,923 | +€21,830 | +180.5% |
| Non-recurring operating charges | 66A | €500 | - | -€500 | |
| Gross operating margin | 9900 | €522,809 | €329,649 | -€193,160 | -36.9% |
| Operating profit (loss) | 9901 | €439,616 | €237,912 | -€201,705 | -45.9% |
| Financial income | 75/76B | €5,554 | €3,783 | -€1,771 | -31.9% |
| Recurring financial income | 75 | €723 | €3,783 | +€3,059 | +423.0% |
| Non-recurring financial income | 76B | €4,830 | - | -€4,830 | |
| Financial charges | 65/66B | €6,204 | €5,788 | -€416 | -6.7% |
| Recurring financial charges | 65 | €6,204 | €5,788 | -€416 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €438,966 | €235,906 | -€203,060 | -46.3% |
| Income taxes | 67/77 | €116,463 | €78,071 | -€38,392 | -33.0% |
| Profit (loss) for the period | 9904 | €322,503 | €157,835 | -€164,668 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €322,503 | €157,835 | -€164,668 | -51.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.