WINDOW MARKET: 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.
WINDOW MARKET
Largest movements
- Cash +€115,562
up €115,562 (+1,662%), from €6,952 to €122,514
mainly Net result for the year (+€108,874) and Depreciation (+€54,603)
- Tangible fixed assets -€50,630
down €50,630 (-7.5%), from €678,327 to €627,697
of which Land and buildings: -€31,157
- Receivables within one year -€45,256
down €45,256 (-32.4%), from €139,831 to €94,575
of which Trade receivables: -€59,306
- Current investments -€37,410
no longer reported in 2026 (was €37,410)
- Other debts -€111,500
no longer reported in 2026 (was €111,500)
- Reserves +€108,874
up €108,874 (+129%), from €84,597 to €193,471
- Debts after one year -€38,441
down €38,441 (-8.1%), from €473,456 to €435,015
- Tax, wage and social debts +€28,943
up €28,943 (+89.8%), from €32,229 to €61,172
of which Taxes: +€35,374
- Gross operating margin +€74,163
up €74,163 (+27.7%), from €268,197 to €342,360
- Taxes +€26,622
up €26,622 (+86.2%), from €30,872 to €57,494
- Staff costs +€13,388
up €13,388 (+14.1%), from €94,878 to €108,266
- Depreciation +€8,994
up €8,994 (+19.7%), from €45,609 to €54,603
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €865,020 | €851,988 | -€13,032 | -1.5% |
| Fixed assets | 21/28 | €680,827 | €630,197 | -€50,630 | -7.4% |
| Tangible fixed assets | 22/27 | €678,327 | €627,697 | -€50,630 | -7.5% |
| Land and buildings | 22 | €563,156 | €531,999 | -€31,157 | -5.5% |
| Furniture and vehicles | 24 | €107,762 | €89,771 | -€17,991 | -16.7% |
| Other tangible fixed assets | 26 | €7,409 | €5,927 | -€1,482 | -20.0% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €184,193 | €221,791 | +€37,598 | +20.4% |
| Amounts receivable within one year | 40/41 | €139,831 | €94,575 | -€45,256 | -32.4% |
| Trade receivables | 40 | €89,010 | €29,704 | -€59,306 | -66.6% |
| Other amounts receivable | 41 | €50,821 | €64,871 | +€14,050 | +27.6% |
| Current investments | 50/53 | €37,410 | - | -€37,410 | |
| Cash at bank and in hand | 54/58 | €6,952 | €122,514 | +€115,562 | +1,662% |
| Deferred charges and accrued income | 490/1 | - | €4,702 | +€4,702 | |
| Total equity and liabilities | 10/49 | €865,020 | €851,988 | -€13,032 | -1.5% |
| Equity | 10/15 | €197,297 | €306,171 | +€108,874 | +55.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,597 | €193,471 | +€108,874 | +129% |
| Distributable reserves | 133 | €84,597 | €193,471 | +€108,874 | +129% |
| Profit (loss) carried forward | 14 | €94,100 | €94,100 | = | 0.0% |
| Amounts payable | 17/49 | €667,723 | €545,817 | -€121,906 | -18.3% |
| Amounts payable after more than one year | 17 | €473,456 | €435,015 | -€38,441 | -8.1% |
| Financial debts | 170/4 | €473,456 | €435,015 | -€38,441 | -8.1% |
| Amounts payable within one year | 42/48 | €194,267 | €110,802 | -€83,465 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €38,155 | €35,323 | -€2,832 | -7.4% |
| Trade debts | 44 | €6,383 | €14,307 | +€7,924 | +124% |
| Suppliers | 440/4 | €6,383 | €14,307 | +€7,924 | +124% |
| Advances received on contracts in progress | 46 | €6,000 | - | -€6,000 | |
| Taxes, remuneration and social security | 45 | €32,229 | €61,172 | +€28,943 | +89.8% |
| Taxes | 450/3 | €22,285 | €57,659 | +€35,374 | +159% |
| Remuneration and social security | 454/9 | €9,944 | €3,513 | -€6,431 | -64.7% |
| Other amounts payable | 47/48 | €111,500 | - | -€111,500 | |
| Remuneration, social security and pensions | 62 | €94,878 | €108,266 | +€13,388 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,609 | €54,603 | +€8,994 | +19.7% |
| Other operating charges | 640/8 | €2,094 | €3,195 | +€1,101 | +52.6% |
| Gross operating margin | 9900 | €268,197 | €342,360 | +€74,163 | +27.7% |
| Operating profit (loss) | 9901 | €125,616 | €176,296 | +€50,680 | +40.3% |
| Financial income | 75/76B | - | €500 | +€500 | |
| Recurring financial income | 75 | - | €500 | +€500 | |
| Financial charges | 65/66B | €10,617 | €10,428 | -€189 | -1.8% |
| Recurring financial charges | 65 | €10,617 | €10,428 | -€189 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €114,999 | €166,368 | +€51,369 | +44.7% |
| Income taxes | 67/77 | €30,872 | €57,494 | +€26,622 | +86.2% |
| Profit (loss) for the period | 9904 | €84,127 | €108,874 | +€24,747 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,127 | €108,874 | +€24,747 | +29.4% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.