WINLOCK MANAGEMENT: 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.
WINLOCK MANAGEMENT
Largest movements
- Tangible fixed assets -€460,030
down €460,030 (-11.1%), from €4.1m to €3.7m
of which Assets under construction and advance payments: -€2.0m
- Receivables within one year +€113,614
up €113,614 (+26.8%), from €424,238 to €537,852
of which Other amounts receivable: +€211,010
- Receivables after one year -€86,450
down €86,450 (-41.9%), from €206,150 to €119,700
- Debts after one year -€370,780
down €370,780 (-13.7%), from €2.7m to €2.3m
- Other debts -€171,889
down €171,889 (-20.1%), from €854,138 to €682,249
- Reserves +€158,238
up €158,238 (+16.7%), from €948,897 to €1.1m
- Trade debts -€108,785
down €108,785 (-72.2%), from €150,752 to €41,966
- Tax, wage and social debts -€73,378
down €73,378 (-69.2%), from €105,961 to €32,584
of which Taxes: -€73,378
- Services and other goods -€469,347
down €469,347 (-57.2%), from €820,022 to €350,675
- Financial income -€303,194
down €303,194 (-96.8%), from €313,323 to €10,129
- Other operating income -€240,489
down €240,489 (-72.0%), from €333,784 to €93,295
- Turnover +€82,735
up €82,735 (+13.0%), from €634,706 to €717,441
- Taxes +€67,439
up €67,439 (+463.5%), from €14,550 to €81,989
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 | €5,304,061 | €4,817,468 | -€486,593 | -9.2% |
| Fixed assets | 21/28 | €4,578,139 | €4,118,109 | -€460,030 | -10.0% |
| Tangible fixed assets | 22/27 | €4,149,639 | €3,689,609 | -€460,030 | -11.1% |
| Land and buildings | 22 | €1,048,155 | €1,026,680 | -€21,475 | -2.0% |
| Furniture and vehicles | 24 | €123,581 | €123,581 | = | 0.0% |
| Other tangible fixed assets | 26 | €982,020 | €2,539,348 | +€1.6m | +158.6% |
| Assets under construction and advance payments | 27 | €1,995,882 | - | -€2.0m | |
| Financial fixed assets | 28 | €428,500 | €428,500 | = | 0.0% |
| Affiliated companies | 280/1 | €428,500 | €428,500 | = | 0.0% |
| Participating interests | 280 | €428,500 | €428,500 | = | 0.0% |
| Current assets | 29/58 | €725,922 | €699,359 | -€26,563 | -3.7% |
| Amounts receivable after more than one year | 29 | €206,150 | €119,700 | -€86,450 | -41.9% |
| Other amounts receivable | 291 | €206,150 | €119,700 | -€86,450 | -41.9% |
| Amounts receivable within one year | 40/41 | €424,238 | €537,852 | +€113,614 | +26.8% |
| Trade receivables | 40 | €281,668 | €184,271 | -€97,396 | -34.6% |
| Other amounts receivable | 41 | €142,570 | €353,581 | +€211,010 | +148.0% |
| Cash at bank and in hand | 54/58 | €81,795 | €33,605 | -€48,190 | -58.9% |
| Deferred charges and accrued income | 490/1 | €13,739 | €8,202 | -€5,537 | -40.3% |
| Total equity and liabilities | 10/49 | €5,304,061 | €4,817,468 | -€486,593 | -9.2% |
| Equity | 10/15 | €1,172,533 | €1,330,771 | +€158,238 | +13.5% |
| Contributions | 10/11 | €223,636 | €223,636 | = | 0.0% |
| Reserves | 13 | €948,897 | €1,107,135 | +€158,238 | +16.7% |
| Distributable reserves | 133 | €948,897 | €1,107,135 | +€158,238 | +16.7% |
| Amounts payable | 17/49 | €4,131,528 | €3,486,697 | -€644,831 | -15.6% |
| Amounts payable after more than one year | 17 | €2,704,480 | €2,333,700 | -€370,780 | -13.7% |
| Financial debts | 170/4 | €2,704,480 | €2,333,700 | -€370,780 | -13.7% |
| Credit institutions | 173 | €2,704,480 | €2,333,700 | -€370,780 | -13.7% |
| Amounts payable within one year | 42/48 | €1,426,564 | €1,152,498 | -€274,066 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €285,246 | €334,682 | +€49,436 | +17.3% |
| Financial debts | 43 | €30,466 | €61,017 | +€30,550 | +100.3% |
| Credit institutions | 430/8 | €30,466 | €61,017 | +€30,550 | +100.3% |
| Trade debts | 44 | €150,752 | €41,966 | -€108,785 | -72.2% |
| Suppliers | 440/4 | €150,752 | €41,966 | -€108,785 | -72.2% |
| Taxes, remuneration and social security | 45 | €105,961 | €32,584 | -€73,378 | -69.2% |
| Taxes | 450/3 | €100,961 | €27,584 | -€73,378 | -72.7% |
| Remuneration and social security | 454/9 | €5,000 | €5,000 | = | 0.0% |
| Other amounts payable | 47/48 | €854,138 | €682,249 | -€171,889 | -20.1% |
| Accrued charges and deferred income | 492/3 | €484 | €499 | +€15 | +3.2% |
| Operating income | 70/76A | €968,490 | €810,736 | -€157,754 | -16.3% |
| Turnover | 70 | €634,706 | €717,441 | +€82,735 | +13.0% |
| Other operating income | 74 | €333,784 | €93,295 | -€240,489 | -72.0% |
| Operating charges | 60/66A | €852,677 | €380,546 | -€472,131 | -55.4% |
| Services and other goods | 61 | €820,022 | €350,675 | -€469,347 | -57.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,766 | €21,475 | -€1,291 | -5.7% |
| Other operating charges | 640/8 | €9,890 | €8,397 | -€1,493 | -15.1% |
| Operating profit (loss) | 9901 | €115,813 | €430,190 | +€314,377 | +271.5% |
| Financial income | 75/76B | €313,323 | €10,129 | -€303,194 | -96.8% |
| Recurring financial income | 75 | €313,323 | €10,129 | -€303,194 | -96.8% |
| Income from financial fixed assets | 750 | €308,000 | - | -€308,000 | |
| Income from current assets | 751 | €5,322 | €10,082 | +€4,760 | +89.4% |
| Other financial income | 752/9 | €1 | €47 | +€46 | +4521.6% |
| Financial charges | 65/66B | €87,268 | €109,092 | +€21,824 | +25.0% |
| Recurring financial charges | 65 | €87,268 | €109,092 | +€21,824 | +25.0% |
| Debt charges | 650 | €85,794 | €107,406 | +€21,612 | +25.2% |
| Other financial charges | 652/9 | €1,474 | €1,687 | +€212 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €341,868 | €331,227 | -€10,641 | -3.1% |
| Income taxes | 67/77 | €14,550 | €81,989 | +€67,439 | +463.5% |
| Taxes | 670/3 | €14,550 | €81,989 | +€67,439 | +463.5% |
| Profit (loss) for the period | 9904 | €327,318 | €249,238 | -€78,080 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €327,318 | €249,238 | -€78,080 | -23.9% |
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 11 October 2026 via checked.be.