WINEBOUD MARTENS: 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.
WINEBOUD MARTENS
Largest movements
- Tangible fixed assets -€19,626
down €19,626 (-7.1%), from €277,818 to €258,192
of which Plant, machinery and equipment: -€18,282
- Cash -€12,431
no longer reported in 2025 (was €12,431)
mainly Other debts (-€30,668) and Investment in fixed assets (net) (-€21,166)
- Receivables within one year +€5,225
up €5,225 (+27.9%), from €18,761 to €23,986
of which Trade receivables: +€5,759
- Other debts -€30,668
down €30,668 (-26.3%), from €116,431 to €85,763
- Trade debts +€13,341
up €13,341 (+40.8%), from €32,673 to €46,015
- Current portion of long-term debt -€10,310
down €10,310 (-46.4%), from €22,207 to €11,898
- Debts after one year +€3,102
up €3,102 (+2.9%), from €105,997 to €109,099
- Gross operating margin -€15,686
down €15,686 (-24.6%), from €63,739 to €48,052
- Write-downs -€6,919
no longer reported in 2025 (was €6,919)
- Depreciation +€2,894
up €2,894 (+7.6%), from €37,897 to €40,791
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 | €310,054 | €285,218 | -€24,836 | -8.0% |
| Fixed assets | 21/28 | €277,818 | €258,192 | -€19,626 | -7.1% |
| Tangible fixed assets | 22/27 | €277,818 | €258,192 | -€19,626 | -7.1% |
| Land and buildings | 22 | €232,392 | €223,343 | -€9,049 | -3.9% |
| Plant, machinery and equipment | 23 | €34,760 | €16,477 | -€18,282 | -52.6% |
| Furniture and vehicles | 24 | €10,667 | €18,372 | +€7,705 | +72.2% |
| Current assets | 29/58 | €32,236 | €27,026 | -€5,210 | -16.2% |
| Amounts receivable within one year | 40/41 | €18,761 | €23,986 | +€5,225 | +27.9% |
| Trade receivables | 40 | €15,981 | €21,740 | +€5,759 | +36.0% |
| Other amounts receivable | 41 | €2,780 | €2,246 | -€534 | -19.2% |
| Cash at bank and in hand | 54/58 | €12,431 | - | -€12,431 | |
| Deferred charges and accrued income | 490/1 | €1,044 | €3,040 | +€1,996 | +191% |
| Total equity and liabilities | 10/49 | €310,054 | €285,218 | -€24,836 | -8.0% |
| Equity | 10/15 | €29,003 | €29,572 | +€569 | +2.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,003 | €24,572 | +€569 | +2.4% |
| Distributable reserves | 133 | €24,003 | €24,572 | +€569 | +2.4% |
| Amounts payable | 17/49 | €281,051 | €255,647 | -€25,404 | -9.0% |
| Amounts payable after more than one year | 17 | €105,997 | €109,099 | +€3,102 | +2.9% |
| Financial debts | 170/4 | €105,997 | €109,099 | +€3,102 | +2.9% |
| Amounts payable within one year | 42/48 | €173,777 | €145,097 | -€28,680 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €22,207 | €11,898 | -€10,310 | -46.4% |
| Trade debts | 44 | €32,673 | €46,015 | +€13,341 | +40.8% |
| Suppliers | 440/4 | €32,673 | €46,015 | +€13,341 | +40.8% |
| Taxes, remuneration and social security | 45 | €2,466 | €1,422 | -€1,044 | -42.3% |
| Taxes | 450/3 | €2,466 | €1,422 | -€1,044 | -42.3% |
| Other amounts payable | 47/48 | €116,431 | €85,763 | -€30,668 | -26.3% |
| Accrued charges and deferred income | 492/3 | €1,277 | €1,450 | +€173 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,897 | €40,791 | +€2,894 | +7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,919 | - | -€6,919 | |
| Other operating charges | 640/8 | €1,484 | €1,623 | +€139 | +9.4% |
| Gross operating margin | 9900 | €63,739 | €48,052 | -€15,686 | -24.6% |
| Operating profit (loss) | 9901 | €17,438 | €5,637 | -€11,801 | -67.7% |
| Financial income | 75/76B | €338 | €7 | -€331 | -98.0% |
| Recurring financial income | 75 | €338 | €7 | -€331 | -98.0% |
| Financial charges | 65/66B | €5,068 | €4,792 | -€276 | -5.4% |
| Recurring financial charges | 65 | €5,068 | €4,792 | -€276 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €12,708 | €852 | -€11,856 | -93.3% |
| Income taxes | 67/77 | €811 | €283 | -€528 | -65.1% |
| Profit (loss) for the period | 9904 | €11,896 | €569 | -€11,328 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,896 | €569 | -€11,328 | -95.2% |
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 31 October 2026 via checked.be.