WINDOC: 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.
WINDOC
Largest movements
- Financial fixed assets +€84,950
up €84,950 (+17.7%), from €480,050 to €565,000
- Cash +€79,017
up €79,017 (+20.8%), from €379,902 to €458,919
- Tangible fixed assets -€34,433
down €34,433 (-54.6%), from €63,094 to €28,661
of which Furniture and vehicles: -€27,000
- Reserves +€196,804
up €196,804 (+32.6%), from €603,111 to €799,915
of which Distributable reserves: +€202,664
- Tax, wage and social debts -€53,409
down €53,409 (-84.2%), from €63,394 to €9,985
- Debts after one year -€22,844
no longer reported in 2025 (was €22,844)
- Other debts +€16,414
up €16,414 (+9.0%), from €182,560 to €198,973
- Gross operating margin -€32,705
down €32,705 (-9.4%), from €349,187 to €316,482
- Financial income +€21,590
up €21,590 (+262%), from €8,250 to €29,840
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €953,736 | €1,076,697 | +€122,960 | +12.9% |
| Fixed assets | 21/28 | €543,144 | €593,661 | +€50,517 | +9.3% |
| Tangible fixed assets | 22/27 | €63,094 | €28,661 | -€34,433 | -54.6% |
| Land and buildings | 22 | €14,555 | €10,695 | -€3,860 | -26.5% |
| Plant, machinery and equipment | 23 | €13,066 | €9,494 | -€3,572 | -27.3% |
| Furniture and vehicles | 24 | €35,473 | €8,473 | -€27,000 | -76.1% |
| Financial fixed assets | 28 | €480,050 | €565,000 | +€84,950 | +17.7% |
| Current assets | 29/58 | €410,592 | €483,035 | +€72,443 | +17.6% |
| Amounts receivable within one year | 40/41 | €26,620 | €20,046 | -€6,574 | -24.7% |
| Trade receivables | 40 | €14,906 | €20,046 | +€5,139 | +34.5% |
| Other amounts receivable | 41 | €11,714 | - | -€11,714 | |
| Cash at bank and in hand | 54/58 | €379,902 | €458,919 | +€79,017 | +20.8% |
| Deferred charges and accrued income | 490/1 | €4,070 | €4,070 | = | 0.0% |
| Total equity and liabilities | 10/49 | €953,736 | €1,076,697 | +€122,960 | +12.9% |
| Equity | 10/15 | €671,155 | €858,515 | +€187,359 | +27.9% |
| Contributions | 10/11 | €58,600 | €58,600 | = | 0.0% |
| Reserves | 13 | €603,111 | €799,915 | +€196,804 | +32.6% |
| Non-distributable reserves | 130/1 | €5,860 | - | -€5,860 | |
| Reserves not available under the articles | 1311 | €5,860 | - | -€5,860 | |
| Distributable reserves | 133 | €597,251 | €799,915 | +€202,664 | +33.9% |
| Profit (loss) carried forward | 14 | €9,444 | - | -€9,444 | |
| Amounts payable | 17/49 | €282,581 | €218,182 | -€64,399 | -22.8% |
| Amounts payable after more than one year | 17 | €22,844 | - | -€22,844 | |
| Financial debts | 170/4 | €22,844 | - | -€22,844 | |
| Amounts payable within one year | 42/48 | €259,737 | €218,182 | -€41,555 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €13,480 | €9,195 | -€4,285 | -31.8% |
| Financial debts | 43 | - | €29 | +€29 | |
| Credit institutions | 430/8 | - | €29 | +€29 | |
| Trade debts | 44 | €303 | - | -€303 | |
| Suppliers | 440/4 | €303 | - | -€303 | |
| Taxes, remuneration and social security | 45 | €63,394 | €9,985 | -€53,409 | -84.2% |
| Taxes | 450/3 | €63,394 | €9,985 | -€53,409 | -84.2% |
| Other amounts payable | 47/48 | €182,560 | €198,973 | +€16,414 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,683 | €17,900 | -€784 | -4.2% |
| Other operating charges | 640/8 | €1,343 | €1,101 | -€241 | -18.0% |
| Gross operating margin | 9900 | €349,187 | €316,482 | -€32,705 | -9.4% |
| Operating profit (loss) | 9901 | €329,161 | €297,481 | -€31,680 | -9.6% |
| Financial income | 75/76B | €8,250 | €29,840 | +€21,590 | +262% |
| Recurring financial income | 75 | €8,250 | €29,840 | +€21,590 | +262% |
| Financial charges | 65/66B | €321 | €803 | +€482 | +150% |
| Recurring financial charges | 65 | €321 | €803 | +€482 | +150% |
| Profit (loss) for the period before taxes | 9903 | €337,090 | €326,518 | -€10,572 | -3.1% |
| Income taxes | 67/77 | €111,467 | €108,429 | -€3,038 | -2.7% |
| Profit (loss) for the period | 9904 | €225,623 | €218,090 | -€7,534 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €225,623 | €218,090 | -€7,534 | -3.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.