Windhorse Services: 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.
Windhorse Services
Largest movements
- Tangible fixed assets +€10,269
up €10,269 (+3.1%), from €329,916 to €340,185
of which Land and buildings: +€27,742
- Receivables within one year -€7,328
down €7,328 (-14.8%), from €49,376 to €42,049
of which Other amounts receivable: -€5,832
- Cash -€6,861
down €6,861 (-98.2%), from €6,985 to €123
mainly Investment in fixed assets (net) (-€41,131) and Debts after one year (-€21,869)
- Debts after one year -€21,869
down €21,869 (-19.9%), from €109,942 to €88,073
- Reserves +€15,996
up €15,996 (+9.0%), from €178,639 to €194,635
of which Distributable reserves: +€15,996
- Current portion of long-term debt +€4,760
up €4,760 (+42.7%), from €11,149 to €15,909
- Other debts -€4,402
down €4,402 (-5.5%), from €79,913 to €75,511
- Gross operating margin -€29,868
down €29,868 (-31.7%), from €94,086 to €64,218
- Depreciation -€10,831
down €10,831 (-26.0%), from €41,693 to €30,862
- Taxes -€5,779
down €5,779 (-40.8%), from €14,159 to €8,381
- Financial charges -€1,632
down €1,632 (-21.2%), from €7,716 to €6,083
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 | €388,952 | €385,146 | -€3,806 | -1.0% |
| Fixed assets | 21/28 | €329,916 | €340,185 | +€10,269 | +3.1% |
| Tangible fixed assets | 22/27 | €329,916 | €340,185 | +€10,269 | +3.1% |
| Land and buildings | 22 | €252,335 | €280,077 | +€27,742 | +11.0% |
| Plant, machinery and equipment | 23 | €14,903 | €12,058 | -€2,845 | -19.1% |
| Furniture and vehicles | 24 | €62,677 | €48,050 | -€14,628 | -23.3% |
| Current assets | 29/58 | €59,037 | €44,961 | -€14,076 | -23.8% |
| Amounts receivable within one year | 40/41 | €49,376 | €42,049 | -€7,328 | -14.8% |
| Trade receivables | 40 | €13,455 | €11,960 | -€1,495 | -11.1% |
| Other amounts receivable | 41 | €35,921 | €30,089 | -€5,832 | -16.2% |
| Cash at bank and in hand | 54/58 | €6,985 | €123 | -€6,861 | -98.2% |
| Deferred charges and accrued income | 490/1 | €2,676 | €2,789 | +€113 | +4.2% |
| Total equity and liabilities | 10/49 | €388,952 | €385,146 | -€3,806 | -1.0% |
| Equity | 10/15 | €184,839 | €200,835 | +€15,996 | +8.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €178,639 | €194,635 | +€15,996 | +9.0% |
| Tax-exempt reserves | 132 | €3,335 | €3,335 | = | 0.0% |
| Distributable reserves | 133 | €175,304 | €191,300 | +€15,996 | +9.1% |
| Amounts payable | 17/49 | €204,113 | €184,311 | -€19,802 | -9.7% |
| Amounts payable after more than one year | 17 | €109,942 | €88,073 | -€21,869 | -19.9% |
| Financial debts | 170/4 | €109,942 | €88,073 | -€21,869 | -19.9% |
| Amounts payable within one year | 42/48 | €94,172 | €96,238 | +€2,067 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €11,149 | €15,909 | +€4,760 | +42.7% |
| Financial debts | 43 | - | €390 | +€390 | |
| Credit institutions | 430/8 | - | €390 | +€390 | |
| Trade debts | 44 | €2,416 | €1,953 | -€463 | -19.1% |
| Suppliers | 440/4 | €2,416 | €1,953 | -€463 | -19.1% |
| Taxes, remuneration and social security | 45 | €693 | €2,475 | +€1,782 | +257% |
| Taxes | 450/3 | €693 | €2,475 | +€1,782 | +257% |
| Other amounts payable | 47/48 | €79,913 | €75,511 | -€4,402 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,693 | €30,862 | -€10,831 | -26.0% |
| Other operating charges | 640/8 | €3,621 | €3,680 | +€59 | +1.6% |
| Gross operating margin | 9900 | €94,086 | €64,218 | -€29,868 | -31.7% |
| Operating profit (loss) | 9901 | €48,772 | €29,677 | -€19,095 | -39.2% |
| Financial income | 75/76B | €1,710 | €784 | -€926 | -54.2% |
| Recurring financial income | 75 | €1,710 | €784 | -€926 | -54.2% |
| Financial charges | 65/66B | €7,716 | €6,083 | -€1,632 | -21.2% |
| Recurring financial charges | 65 | €7,716 | €6,083 | -€1,632 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €42,766 | €24,377 | -€18,390 | -43.0% |
| Income taxes | 67/77 | €14,159 | €8,381 | -€5,779 | -40.8% |
| Profit (loss) for the period | 9904 | €28,607 | €15,996 | -€12,611 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,607 | €15,996 | -€12,611 | -44.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.