WINDLOG: 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.
What changed
WINDLOG
NACE 35.150, Electricity, gas, steam and air conditioning supply
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€232,174
2024 · €233,467-€1,293
Equity
€387,490
2024 · €255,316+€132,174
Cash
€274,825
2024 · €308,537-€33,713
Balance sheet total
€4.4m
2024 · €4.8m-€431,374
Largest movements
Assets
- Tangible fixed assets -€273,392
down €273,392 (-7.1%), from €3.9m to €3.6m
- Intangible fixed assets -€86,400
down €86,400 (-50.8%), from €169,959 to €83,559
Equity and liabilities
- Debts after one year -€311,429
down €311,429 (-8.8%), from €3.5m to €3.2m
- Other debts -€300,000
down €300,000 (-53.8%), from €558,000 to €258,000
- Profit (loss) carried forward +€132,174
up €132,174 (+64.4%), from €205,316 to €337,490
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€233,467
Gross operating margin
+€3,135
Depreciation
-€17
Other operating charges
+€552
Financial income
-€2,774
Financial charges
-€2,190
Result 2025
€232,174
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.
From operations
+€357,679
Investment
-€8,534
Financing
-€382,857
Cash 2024
€308,537
From operations (derived)
+€357,679
Net result for the year
+€232,174
Depreciation
+€366,254
Receivables within one year
+€39,798
Deferred charges and accrued income
+€144
Provisions
+€6,667
Trade debts
+€14,657
Tax, wage and social debts
-€12,319
Other debts
-€300,000
Accrued charges and deferred income
+€10,304
Investment (derived)
-€8,534
Investment in fixed assets (net)
-€6,462
Current investments
-€2,073
Financing
-€382,857
Debts after one year
-€311,429
Current portion of long-term debt
+€28,572
Contributions, distributions and other
-€100,000
Cash 2025
€274,825
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,807,887 | €4,376,512 | -€431,374 | -9.0% |
| Fixed assets | 21/28 | €4,020,220 | €3,660,428 | -€359,792 | -8.9% |
| Intangible fixed assets | 21 | €169,959 | €83,559 | -€86,400 | -50.8% |
| Tangible fixed assets | 22/27 | €3,850,260 | €3,576,868 | -€273,392 | -7.1% |
| Plant, machinery and equipment | 23 | €3,850,260 | €3,576,868 | -€273,392 | -7.1% |
| Current assets | 29/58 | €787,667 | €716,085 | -€71,583 | -9.1% |
| Amounts receivable within one year | 40/41 | €310,766 | €270,967 | -€39,798 | -12.8% |
| Trade receivables | 40 | €309,096 | €268,578 | -€40,517 | -13.1% |
| Other amounts receivable | 41 | €1,670 | €2,389 | +€719 | +43.1% |
| Current investments | 50/53 | €163,827 | €165,900 | +€2,073 | +1.3% |
| Cash at bank and in hand | 54/58 | €308,537 | €274,825 | -€33,713 | -10.9% |
| Deferred charges and accrued income | 490/1 | €4,537 | €4,393 | -€144 | -3.2% |
| Total equity and liabilities | 10/49 | €4,807,887 | €4,376,512 | -€431,374 | -9.0% |
| Equity | 10/15 | €255,316 | €387,490 | +€132,174 | +51.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,316 | €337,490 | +€132,174 | +64.4% |
| Provisions and deferred taxes | 16 | €8,333 | €15,000 | +€6,667 | +80.0% |
| Provisions for liabilities and charges | 160/5 | €8,333 | €15,000 | +€6,667 | +80.0% |
| Major repairs and maintenance | 162 | €8,333 | €15,000 | +€6,667 | +80.0% |
| Amounts payable | 17/49 | €4,544,237 | €3,974,022 | -€570,215 | -12.5% |
| Amounts payable after more than one year | 17 | €3,525,000 | €3,213,571 | -€311,429 | -8.8% |
| Financial debts | 170/4 | €3,525,000 | €3,213,571 | -€311,429 | -8.8% |
| Amounts payable within one year | 42/48 | €941,071 | €671,980 | -€269,091 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €340,000 | €368,571 | +€28,572 | +8.4% |
| Trade debts | 44 | €21,048 | €35,705 | +€14,657 | +69.6% |
| Suppliers | 440/4 | €21,048 | €35,705 | +€14,657 | +69.6% |
| Taxes, remuneration and social security | 45 | €22,023 | €9,704 | -€12,319 | -55.9% |
| Taxes | 450/3 | €22,023 | €9,704 | -€12,319 | -55.9% |
| Other amounts payable | 47/48 | €558,000 | €258,000 | -€300,000 | -53.8% |
| Accrued charges and deferred income | 492/3 | €78,167 | €88,471 | +€10,304 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €366,237 | €366,254 | +€17 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €6,667 | €6,667 | = | 0.0% |
| Other operating charges | 640/8 | €15,970 | €15,418 | -€552 | -3.5% |
| Gross operating margin | 9900 | €683,635 | €686,770 | +€3,135 | +0.5% |
| Operating profit (loss) | 9901 | €294,761 | €298,432 | +€3,671 | +1.2% |
| Financial income | 75/76B | €5,566 | €2,792 | -€2,774 | -49.8% |
| Recurring financial income | 75 | €5,566 | €2,792 | -€2,774 | -49.8% |
| Financial charges | 65/66B | €66,860 | €69,050 | +€2,190 | +3.3% |
| Recurring financial charges | 65 | €66,860 | €69,050 | +€2,190 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €233,467 | €232,174 | -€1,293 | -0.6% |
| Profit (loss) for the period | 9904 | €233,467 | €232,174 | -€1,293 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €233,467 | €232,174 | -€1,293 | -0.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.