WINKELEER: 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.
WINKELEER
Largest movements
- Receivables within one year +€63,606
up €63,606 (+90.8%), from €70,023 to €133,629
of which Other amounts receivable: +€83,146
- Cash -€63,003
down €63,003 (-48.1%), from €131,077 to €68,074
mainly Receivables within one year (-€63,606) and Debts after one year (-€61,562)
- Tangible fixed assets -€44,413
down €44,413 (-17.7%), from €251,351 to €206,938
of which Leasing and similar rights: -€36,400
- Debts after one year -€61,562
down €61,562 (-36.3%), from €169,570 to €108,008
- Trade debts +€12,543
up €12,543 (+32.7%), from €38,346 to €50,889
- Reserves +€11,321
up €11,321 (+6.5%), from €172,946 to €184,267
- Gross operating margin -€37,530
down €37,530 (-13.0%), from €287,656 to €250,126
- Other operating charges -€15,304
down €15,304 (-24.4%), from €62,629 to €47,325
- Depreciation +€6,763
up €6,763 (+18.0%), from €37,650 to €44,413
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 | €469,335 | €425,114 | -€44,221 | -9.4% |
| Fixed assets | 21/28 | €251,351 | €206,938 | -€44,413 | -17.7% |
| Tangible fixed assets | 22/27 | €251,351 | €206,938 | -€44,413 | -17.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €25,441 | €18,555 | -€6,886 | -27.1% |
| Leasing and similar rights | 25 | €217,417 | €181,017 | -€36,400 | -16.7% |
| Other tangible fixed assets | 26 | €8,492 | €7,366 | -€1,126 | -13.3% |
| Current assets | 29/58 | €217,984 | €218,176 | +€192 | +0.1% |
| Amounts receivable after more than one year | 29 | €124 | - | -€124 | |
| Other amounts receivable | 291 | €124 | - | -€124 | |
| Stocks and contracts in progress | 3 | €8,223 | €10,248 | +€2,025 | +24.6% |
| Stocks | 30/36 | €8,223 | €10,248 | +€2,025 | +24.6% |
| Amounts receivable within one year | 40/41 | €70,023 | €133,629 | +€63,606 | +90.8% |
| Trade receivables | 40 | €53,483 | €33,942 | -€19,540 | -36.5% |
| Other amounts receivable | 41 | €16,540 | €99,686 | +€83,146 | +503% |
| Cash at bank and in hand | 54/58 | €131,077 | €68,074 | -€63,003 | -48.1% |
| Deferred charges and accrued income | 490/1 | €8,538 | €6,226 | -€2,312 | -27.1% |
| Total equity and liabilities | 10/49 | €469,335 | €425,114 | -€44,221 | -9.4% |
| Equity | 10/15 | €179,146 | €190,467 | +€11,321 | +6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €172,946 | €184,267 | +€11,321 | +6.5% |
| Distributable reserves | 133 | €172,946 | €184,267 | +€11,321 | +6.5% |
| Amounts payable | 17/49 | €290,189 | €234,647 | -€55,542 | -19.1% |
| Amounts payable after more than one year | 17 | €169,570 | €108,008 | -€61,562 | -36.3% |
| Financial debts | 170/4 | €169,570 | €108,008 | -€61,562 | -36.3% |
| Amounts payable within one year | 42/48 | €120,619 | €126,639 | +€6,020 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €61,939 | €61,562 | -€377 | -0.6% |
| Financial debts | 43 | €3,993 | - | -€3,993 | |
| Other loans | 439 | €3,993 | - | -€3,993 | |
| Trade debts | 44 | €38,346 | €50,889 | +€12,543 | +32.7% |
| Suppliers | 440/4 | €38,346 | €50,889 | +€12,543 | +32.7% |
| Taxes, remuneration and social security | 45 | €14,741 | €13,935 | -€806 | -5.5% |
| Remuneration and social security | 454/9 | €14,741 | €13,935 | -€806 | -5.5% |
| Other amounts payable | 47/48 | €1,600 | €253 | -€1,346 | -84.2% |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Remuneration, social security and pensions | 62 | €143,365 | €141,412 | -€1,954 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,650 | €44,413 | +€6,763 | +18.0% |
| Other operating charges | 640/8 | €62,629 | €47,325 | -€15,304 | -24.4% |
| Gross operating margin | 9900 | €287,656 | €250,126 | -€37,530 | -13.0% |
| Operating profit (loss) | 9901 | €44,012 | €16,977 | -€27,035 | -61.4% |
| Financial income | 75/76B | €1,161 | €2,304 | +€1,144 | +98.5% |
| Recurring financial income | 75 | €1,161 | €2,304 | +€1,144 | +98.5% |
| Financial charges | 65/66B | €5,391 | €7,960 | +€2,568 | +47.6% |
| Recurring financial charges | 65 | €5,391 | €7,960 | +€2,568 | +47.6% |
| Profit (loss) for the period before taxes | 9903 | €39,781 | €11,321 | -€28,460 | -71.5% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €39,781 | €11,321 | -€28,460 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,781 | €11,321 | -€28,460 | -71.5% |
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 25 October 2026 via checked.be.