WINDOWLINE: 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.
WINDOWLINE
Largest movements
- Tangible fixed assets -€14,280
down €14,280 (-28.1%), from €50,845 to €36,565
of which Leasing and similar rights: -€12,927
- Receivables within one year -€9,321
down €9,321 (-54.0%), from €17,275 to €7,954
of which Trade receivables: -€9,528
- Cash +€7,065
up €7,065 (+278.5%), from €2,537 to €9,603
mainly Depreciation (+€18,183) and Receivables within one year (+€9,321)
- Intangible fixed assets -€3,903
down €3,903 (-25.0%), from €15,613 to €11,710
- Debts after one year -€11,787
down €11,787 (-36.0%), from €32,780 to €20,993
- Trade debts -€6,773
down €6,773 (-44.1%), from €15,351 to €8,578
- Reserves +€2,431
up €2,431 (+52.6%), from €4,618 to €7,048
of which Distributable reserves: +€2,431
- Short-term financial debts -€1,779
down €1,779 (-64.4%), from €2,761 to €982
- Tax, wage and social debts -€1,636
down €1,636 (-17.8%), from €9,203 to €7,567
of which Taxes: -€1,599
- Staff costs -€28,766
down €28,766 (-38.0%), from €75,615 to €46,850
- Gross operating margin +€9,955
up €9,955 (+15.6%), from €63,689 to €73,643
- Depreciation +€1,674
up €1,674 (+10.1%), from €16,509 to €18,183
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 | €88,839 | €68,899 | -€19,940 | -22.4% |
| Fixed assets | 21/28 | €66,708 | €48,525 | -€18,183 | -27.3% |
| Intangible fixed assets | 21 | €15,613 | €11,710 | -€3,903 | -25.0% |
| Tangible fixed assets | 22/27 | €50,845 | €36,565 | -€14,280 | -28.1% |
| Plant, machinery and equipment | 23 | €2,143 | €790 | -€1,353 | -63.1% |
| Leasing and similar rights | 25 | €48,702 | €35,775 | -€12,927 | -26.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €22,131 | €20,374 | -€1,757 | -7.9% |
| Amounts receivable within one year | 40/41 | €17,275 | €7,954 | -€9,321 | -54.0% |
| Trade receivables | 40 | €12,898 | €3,370 | -€9,528 | -73.9% |
| Other amounts receivable | 41 | €4,377 | €4,584 | +€207 | +4.7% |
| Cash at bank and in hand | 54/58 | €2,537 | €9,603 | +€7,065 | +278.5% |
| Deferred charges and accrued income | 490/1 | €2,319 | €2,818 | +€499 | +21.5% |
| Total equity and liabilities | 10/49 | €88,839 | €68,899 | -€19,940 | -22.4% |
| Equity | 10/15 | €10,818 | €13,248 | +€2,431 | +22.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,618 | €7,048 | +€2,431 | +52.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,758 | €5,188 | +€2,431 | +88.1% |
| Amounts payable | 17/49 | €78,022 | €55,651 | -€22,371 | -28.7% |
| Amounts payable after more than one year | 17 | €32,780 | €20,993 | -€11,787 | -36.0% |
| Financial debts | 170/4 | €32,780 | €20,993 | -€11,787 | -36.0% |
| Amounts payable within one year | 42/48 | €45,242 | €34,658 | -€10,584 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €11,064 | €11,787 | +€723 | +6.5% |
| Financial debts | 43 | €2,761 | €982 | -€1,779 | -64.4% |
| Credit institutions | 430/8 | €2,761 | €982 | -€1,779 | -64.4% |
| Trade debts | 44 | €15,351 | €8,578 | -€6,773 | -44.1% |
| Suppliers | 440/4 | €15,351 | €8,578 | -€6,773 | -44.1% |
| Taxes, remuneration and social security | 45 | €9,203 | €7,567 | -€1,636 | -17.8% |
| Taxes | 450/3 | €1,927 | €328 | -€1,599 | -83.0% |
| Remuneration and social security | 454/9 | €7,276 | €7,239 | -€37 | -0.5% |
| Other amounts payable | 47/48 | €6,863 | €5,744 | -€1,119 | -16.3% |
| Remuneration, social security and pensions | 62 | €75,615 | €46,850 | -€28,766 | -38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,509 | €18,183 | +€1,674 | +10.1% |
| Other operating charges | 640/8 | €3,697 | €3,340 | -€358 | -9.7% |
| Gross operating margin | 9900 | €63,689 | €73,643 | +€9,955 | +15.6% |
| Operating profit (loss) | 9901 | -€32,133 | €5,271 | +€37,404 | |
| Financial income | 75/76B | €446 | €155 | -€291 | -65.3% |
| Recurring financial income | 75 | €446 | €155 | -€291 | -65.3% |
| Financial charges | 65/66B | €2,546 | €2,848 | +€302 | +11.9% |
| Recurring financial charges | 65 | €2,546 | €2,848 | +€302 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | -€34,232 | €2,578 | +€36,810 | |
| Income taxes | 67/77 | €181 | €147 | -€34 | -18.7% |
| Profit (loss) for the period | 9904 | -€34,413 | €2,431 | +€36,844 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,413 | €2,431 | +€36,844 |
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 6 October 2026 via checked.be.