WINITHAN: 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.
WINITHAN
Largest movements
- Tangible fixed assets -€43,564
down €43,564 (-5.0%), from €871,945 to €828,380
of which Land and buildings: -€45,368
- Cash +€25,093
up €25,093 (+38.3%), from €65,455 to €90,548
mainly Depreciation (+€78,103) and Other debts (+€50,124)
- Debts after one year -€86,798
down €86,798 (-18.2%), from €477,495 to €390,697
- Other debts +€50,124
up €50,124 (+381.7%), from €13,131 to €63,255
- Reserves +€33,809
up €33,809 (+5.8%), from €585,814 to €619,623
of which Distributable reserves: +€33,809
- Gross operating margin +€10,383
up €10,383 (+7.9%), from €131,183 to €141,566
- Financial charges +€2,447
up €2,447 (+30.2%), from €8,111 to €10,558
- Taxes +€1,743
up €1,743 (+13.8%), from €12,602 to €14,345
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 | €1,151,185 | €1,136,795 | -€14,390 | -1.3% |
| Fixed assets | 21/28 | €871,945 | €828,380 | -€43,564 | -5.0% |
| Tangible fixed assets | 22/27 | €871,945 | €828,380 | -€43,564 | -5.0% |
| Land and buildings | 22 | €763,398 | €718,030 | -€45,368 | -5.9% |
| Plant, machinery and equipment | 23 | €48,941 | €52,330 | +€3,389 | +6.9% |
| Furniture and vehicles | 24 | €59,605 | €58,020 | -€1,585 | -2.7% |
| Current assets | 29/58 | €279,241 | €308,415 | +€29,174 | +10.4% |
| Stocks and contracts in progress | 3 | €187,833 | €177,288 | -€10,545 | -5.6% |
| Stocks | 30/36 | €187,833 | €177,288 | -€10,545 | -5.6% |
| Amounts receivable within one year | 40/41 | €25,870 | €35,240 | +€9,370 | +36.2% |
| Trade receivables | 40 | €21,919 | €27,792 | +€5,873 | +26.8% |
| Other amounts receivable | 41 | €3,951 | €7,449 | +€3,497 | +88.5% |
| Cash at bank and in hand | 54/58 | €65,455 | €90,548 | +€25,093 | +38.3% |
| Deferred charges and accrued income | 490/1 | €83 | €5,339 | +€5,255 | +6318.9% |
| Total equity and liabilities | 10/49 | €1,151,185 | €1,136,795 | -€14,390 | -1.3% |
| Equity | 10/15 | €598,214 | €632,023 | +€33,809 | +5.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €585,814 | €619,623 | +€33,809 | +5.8% |
| Tax-exempt reserves | 132 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €555,814 | €589,623 | +€33,809 | +6.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €552,971 | €504,772 | -€48,199 | -8.7% |
| Amounts payable after more than one year | 17 | €477,495 | €390,697 | -€86,798 | -18.2% |
| Financial debts | 170/4 | €477,495 | €390,697 | -€86,798 | -18.2% |
| Amounts payable within one year | 42/48 | €75,476 | €113,677 | +€38,201 | +50.6% |
| Current portion of amounts payable after more than one year | 42 | €43,178 | €39,833 | -€3,345 | -7.7% |
| Financial debts | 43 | €7,000 | €1,772 | -€5,228 | -74.7% |
| Credit institutions | 430/8 | €7,000 | €1,772 | -€5,228 | -74.7% |
| Trade debts | 44 | €8,447 | €2,935 | -€5,511 | -65.2% |
| Suppliers | 440/4 | €8,447 | €2,935 | -€5,511 | -65.2% |
| Advances received on contracts in progress | 46 | - | €500 | +€500 | |
| Taxes, remuneration and social security | 45 | €3,721 | €5,381 | +€1,661 | +44.6% |
| Taxes | 450/3 | €3,721 | €5,381 | +€1,661 | +44.6% |
| Other amounts payable | 47/48 | €13,131 | €63,255 | +€50,124 | +381.7% |
| Accrued charges and deferred income | 492/3 | €0 | €398 | +€398 | |
| Non-recurring operating income | 76A | €26,335 | €0 | -€26,335 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,731 | €78,103 | +€1,373 | +1.8% |
| Other operating charges | 640/8 | €5,491 | €6,561 | +€1,070 | +19.5% |
| Gross operating margin | 9900 | €131,183 | €141,566 | +€10,383 | +7.9% |
| Operating profit (loss) | 9901 | €48,961 | €56,902 | +€7,940 | +16.2% |
| Financial income | 75/76B | €2,769 | €1,811 | -€959 | -34.6% |
| Recurring financial income | 75 | €2,769 | €1,811 | -€959 | -34.6% |
| Financial charges | 65/66B | €8,111 | €10,558 | +€2,447 | +30.2% |
| Recurring financial charges | 65 | €8,111 | €10,558 | +€2,447 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €43,619 | €48,154 | +€4,535 | +10.4% |
| Income taxes | 67/77 | €12,602 | €14,345 | +€1,743 | +13.8% |
| Profit (loss) for the period | 9904 | €31,018 | €33,809 | +€2,792 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,018 | €33,809 | +€2,792 | +9.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.