WINLUX: 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.
WINLUX
Largest movements
- Cash +€102,715
up €102,715 (+158%), from €64,877 to €167,592
mainly Other debts (+€67,206) and Trade debts (+€50,787)
- Receivables within one year +€32,063
up €32,063 (+66.4%), from €48,262 to €80,325
of which Trade receivables: +€21,150
- Tangible fixed assets +€23,162
up €23,162 (+140%), from €16,498 to €39,661
of which Furniture and vehicles: +€23,398
- Intangible fixed assets -€3,978
no longer reported in 2025 (was €3,978)
- Other debts +€67,206
up €67,206 (+850%), from €7,911 to €75,116
- Trade debts +€50,787
up €50,787 (+196%), from €25,881 to €76,668
- Profit (loss) carried forward +€38,227
up €38,227 (+52.3%), from €73,024 to €111,251
- Financial charges +€76,255
up €76,255 (+7,216%), from €1,057 to €77,311
- Gross operating margin +€72,604
up €72,604 (+72.0%), from €100,796 to €173,401
- Staff costs +€34,871
new in 2025: €34,871
- Taxes -€10,739
down €10,739 (-51.8%), from €20,738 to €10,000
- Depreciation +€3,394
up €3,394 (+47.5%), from €7,148 to €10,542
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 | €136,875 | €290,838 | +€153,963 | +112% |
| Fixed assets | 21/28 | €23,736 | €42,921 | +€19,185 | +80.8% |
| Intangible fixed assets | 21 | €3,978 | - | -€3,978 | |
| Tangible fixed assets | 22/27 | €16,498 | €39,661 | +€23,162 | +140% |
| Plant, machinery and equipment | 23 | €236 | - | -€236 | |
| Furniture and vehicles | 24 | €16,262 | €39,661 | +€23,398 | +144% |
| Financial fixed assets | 28 | €3,260 | €3,260 | = | 0.0% |
| Current assets | 29/58 | €113,139 | €247,917 | +€134,778 | +119% |
| Amounts receivable within one year | 40/41 | €48,262 | €80,325 | +€32,063 | +66.4% |
| Trade receivables | 40 | €41,581 | €62,731 | +€21,150 | +50.9% |
| Other amounts receivable | 41 | €6,681 | €17,595 | +€10,914 | +163% |
| Cash at bank and in hand | 54/58 | €64,877 | €167,592 | +€102,715 | +158% |
| Total equity and liabilities | 10/49 | €136,875 | €290,838 | +€153,963 | +112% |
| Equity | 10/15 | €79,224 | €117,451 | +€38,227 | +48.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,024 | €111,251 | +€38,227 | +52.3% |
| Amounts payable | 17/49 | €57,651 | €173,386 | +€115,735 | +201% |
| Amounts payable within one year | 42/48 | €57,651 | €173,386 | +€115,735 | +201% |
| Financial debts | 43 | €645 | - | -€645 | |
| Credit institutions | 430/8 | €645 | - | -€645 | |
| Trade debts | 44 | €25,881 | €76,668 | +€50,787 | +196% |
| Suppliers | 440/4 | €25,881 | €76,668 | +€50,787 | +196% |
| Advances received on contracts in progress | 46 | - | €150 | +€150 | |
| Taxes, remuneration and social security | 45 | €23,214 | €21,452 | -€1,762 | -7.6% |
| Taxes | 450/3 | €17,714 | €11,714 | -€6,000 | -33.9% |
| Remuneration and social security | 454/9 | €5,500 | €9,738 | +€4,238 | +77.1% |
| Other amounts payable | 47/48 | €7,911 | €75,116 | +€67,206 | +850% |
| Remuneration, social security and pensions | 62 | - | €34,871 | +€34,871 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,148 | €10,542 | +€3,394 | +47.5% |
| Other operating charges | 640/8 | €2,666 | €2,916 | +€250 | +9.4% |
| Gross operating margin | 9900 | €100,796 | €173,401 | +€72,604 | +72.0% |
| Operating profit (loss) | 9901 | €90,982 | €125,072 | +€34,089 | +37.5% |
| Financial income | 75/76B | €107 | €467 | +€360 | +336% |
| Recurring financial income | 75 | €107 | €467 | +€360 | +336% |
| Financial charges | 65/66B | €1,057 | €77,311 | +€76,255 | +7,216% |
| Recurring financial charges | 65 | €1,057 | €77,311 | +€76,255 | +7,216% |
| Profit (loss) for the period before taxes | 9903 | €90,032 | €48,227 | -€41,805 | -46.4% |
| Income taxes | 67/77 | €20,738 | €10,000 | -€10,739 | -51.8% |
| Profit (loss) for the period | 9904 | €69,294 | €38,227 | -€31,067 | -44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,294 | €38,227 | -€31,067 | -44.8% |
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 15 October 2026 via checked.be.