WINLAY: 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.
What changed
WINLAY
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€375,879
2024 · -€342,122-€33,757
Equity
-€198,294
2024 · €177,585-€375,879
Cash
€726
2024 · €486+€240
Balance sheet total
€904,553
2024 · €1.3m-€354,728
Largest movements
Assets
- Receivables within one year -€366,559
down €366,559 (-51.6%), from €710,819 to €344,260
- Deferred charges and accrued income +€17,985
up €17,985 (+49.5%), from €36,305 to €54,290
Equity and liabilities
- Profit (loss) carried forward -€375,879
down €375,879 (-142%), from -€265,393 to -€641,272
- Other debts +€328,750
up €328,750 (+74.8%), from €439,734 to €768,484
- Debts after one year -€181,938
no longer reported in 2025 (was €181,938)
- Current portion of long-term debt -€122,890
down €122,890 (-72.5%), from €169,531 to €46,642
- Accrued charges and deferred income -€24,374
down €24,374 (-90.5%), from €26,942 to €2,568
Income statement
- Taxes -€358,163
down €358,163, from €358,162 to -€0
- Write-downs +€335,183
new in 2025: €335,183
- Financial charges -€25,762
down €25,762 (-82.7%), from €31,149 to €5,388
- Gross operating margin -€18,257
down €18,257, from €10,601 to -€7,656
- Other operating charges -€4,279
down €4,279 (-70.7%), from €6,049 to €1,771
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.
Result 2024
-€342,122
Gross operating margin
-€18,257
Depreciation
+€893
Write-downs
-€335,183
Other operating charges
+€4,279
Other operating items
-€36,226
Financial income
-€1,156
Financial charges
+€25,762
Taxes
+€358,163
Deferred taxes and other
-€32,032
Result 2025
-€375,879
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€305,068
Investment
€0
Financing
-€304,828
Cash 2024
€486
From operations (derived)
+€305,068
Net result for the year
-€375,879
Depreciation
+€8,052
Receivables after one year
-€1,659
Receivables within one year
+€366,559
Deferred charges and accrued income
-€17,985
Trade debts
+€21,604
Tax, wage and social debts
-€0
Other debts
+€328,750
Accrued charges and deferred income
-€24,374
Financing
-€304,828
Debts after one year
-€181,938
Current portion of long-term debt
-€122,890
Cash 2025
€726
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,259,281 | €904,553 | -€354,728 | -28.2% |
| Fixed assets | 21/28 | €153,630 | €145,578 | -€8,052 | -5.2% |
| Tangible fixed assets | 22/27 | €153,630 | €145,578 | -€8,052 | -5.2% |
| Land and buildings | 22 | €152,247 | €145,560 | -€6,687 | -4.4% |
| Plant, machinery and equipment | 23 | €1,383 | €18 | -€1,365 | -98.7% |
| Current assets | 29/58 | €1,105,651 | €758,976 | -€346,675 | -31.4% |
| Amounts receivable after more than one year | 29 | €358,041 | €359,700 | +€1,659 | +0.5% |
| Other amounts receivable | 291 | €358,041 | €359,700 | +€1,659 | +0.5% |
| Amounts receivable within one year | 40/41 | €710,819 | €344,260 | -€366,559 | -51.6% |
| Other amounts receivable | 41 | €710,819 | €344,260 | -€366,559 | -51.6% |
| Cash at bank and in hand | 54/58 | €486 | €726 | +€240 | +49.4% |
| Deferred charges and accrued income | 490/1 | €36,305 | €54,290 | +€17,985 | +49.5% |
| Total equity and liabilities | 10/49 | €1,259,281 | €904,553 | -€354,728 | -28.2% |
| Equity | 10/15 | €177,585 | -€198,294 | -€375,879 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €95,592 | €95,592 | = | 0.0% |
| Reserves | 13 | €328,786 | €328,786 | = | 0.0% |
| 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 | €326,926 | €326,926 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€265,393 | -€641,272 | -€375,879 | -142% |
| Amounts payable | 17/49 | €1,081,696 | €1,102,848 | +€21,152 | +2.0% |
| Amounts payable after more than one year | 17 | €181,938 | - | -€181,938 | |
| Financial debts | 170/4 | €181,938 | - | -€181,938 | |
| Amounts payable within one year | 42/48 | €872,816 | €1,100,280 | +€227,464 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €169,531 | €46,642 | -€122,890 | -72.5% |
| Trade debts | 44 | €13,907 | €35,511 | +€21,604 | +155% |
| Suppliers | 440/4 | €13,907 | €35,511 | +€21,604 | +155% |
| Taxes, remuneration and social security | 45 | €249,643 | €249,643 | -€0 | 0.0% |
| Taxes | 450/3 | €249,643 | €249,643 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €439,734 | €768,484 | +€328,750 | +74.8% |
| Accrued charges and deferred income | 492/3 | €26,942 | €2,568 | -€24,374 | -90.5% |
| Non-recurring operating income | 76A | - | €5,111 | +€5,111 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,945 | €8,052 | -€893 | -10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €335,183 | +€335,183 | |
| Other operating charges | 640/8 | €6,049 | €1,771 | -€4,279 | -70.7% |
| Non-recurring operating charges | 66A | - | €36,226 | +€36,226 | |
| Gross operating margin | 9900 | €10,601 | -€7,656 | -€18,257 | |
| Operating profit (loss) | 9901 | -€4,394 | -€388,887 | -€384,493 | -8,750% |
| Financial income | 75/76B | €19,552 | €18,396 | -€1,156 | -5.9% |
| Recurring financial income | 75 | €19,552 | €18,396 | -€1,156 | -5.9% |
| Financial charges | 65/66B | €31,149 | €5,388 | -€25,762 | -82.7% |
| Recurring financial charges | 65 | €31,149 | €5,388 | -€25,762 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | -€15,992 | -€375,880 | -€359,888 | -2,250% |
| Transfer from deferred taxes | 780 | €32,032 | - | -€32,032 | |
| Income taxes | 67/77 | €358,162 | -€0 | -€358,163 | |
| Profit (loss) for the period | 9904 | -€342,122 | -€375,879 | -€33,757 | -9.9% |
| Transfer from tax-exempt reserves | 789 | €96,096 | - | -€96,096 | |
| Profit (loss) for the period to be appropriated | 9905 | -€246,026 | -€375,879 | -€129,853 | -52.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.