Winsearch: 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.
Winsearch
Largest movements
- Tangible fixed assets +€705,354
up €705,354 (+3,500%), from €20,150 to €725,504
of which Other tangible fixed assets: +€547,339
- Receivables within one year -€397,221
down €397,221 (-24.5%), from €1.6m to €1.2m
of which Other amounts receivable: -€446,966
- Cash -€275,380
down €275,380 (-46.6%), from €590,504 to €315,123
mainly Investment in fixed assets (net) (-€698,401) and Net result for the year (-€271,605)
- Financial fixed assets -€72,400
down €72,400 (-21.2%), from €342,222 to €269,822
- Profit (loss) carried forward -€271,605
down €271,605 (-14.5%), from €1.9m to €1.6m
- Debts after one year +€110,094
new in 2025: €110,094
- Trade debts +€90,237
up €90,237 (+164%), from €54,905 to €145,142
- Tax, wage and social debts -€56,059
down €56,059 (-16.7%), from €335,788 to €279,729
of which Remuneration and social security: -€42,553
- Current portion of long-term debt +€38,026
up €38,026, from €0 to €38,026
- Gross operating margin -€740,419
down €740,419 (-33.7%), from €2.2m to €1.5m
- Staff costs -€320,139
down €320,139 (-16.8%), from €1.9m to €1.6m
- Taxes -€96,467
down €96,467 (-95.5%), from €100,964 to €4,497
- Financial charges +€54,521
up €54,521 (+145%), from €37,535 to €92,057
of which Non-recurring financial charges: +€63,000
- Financial income -€28,650
down €28,650 (-51.1%), from €56,028 to €27,378
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 | €2,627,986 | €2,590,155 | -€37,831 | -1.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €376,837 | €1,026,021 | +€649,184 | +172% |
| Intangible fixed assets | 21 | €14,464 | €30,695 | +€16,230 | +112% |
| Tangible fixed assets | 22/27 | €20,150 | €725,504 | +€705,354 | +3,500% |
| Plant, machinery and equipment | 23 | €6,805 | €5,104 | -€1,701 | -25.0% |
| Furniture and vehicles | 24 | €8,377 | €18,937 | +€10,559 | +126% |
| Leasing and similar rights | 25 | €0 | €149,156 | +€149,156 | |
| Other tangible fixed assets | 26 | €4,968 | €552,307 | +€547,339 | +11,018% |
| Financial fixed assets | 28 | €342,222 | €269,822 | -€72,400 | -21.2% |
| Current assets | 29/58 | €2,251,149 | €1,564,134 | -€687,015 | -30.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,623,775 | €1,226,555 | -€397,221 | -24.5% |
| Trade receivables | 40 | €651,274 | €701,020 | +€49,745 | +7.6% |
| Other amounts receivable | 41 | €972,501 | €525,535 | -€446,966 | -46.0% |
| Cash at bank and in hand | 54/58 | €590,504 | €315,123 | -€275,380 | -46.6% |
| Deferred charges and accrued income | 490/1 | €36,870 | €22,456 | -€14,414 | -39.1% |
| Total equity and liabilities | 10/49 | €2,627,986 | €2,590,155 | -€37,831 | -1.4% |
| Equity | 10/15 | €2,232,597 | €1,960,992 | -€271,605 | -12.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €262,600 | €262,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €252,600 | €252,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,869,997 | €1,598,392 | -€271,605 | -14.5% |
| Amounts payable | 17/49 | €395,388 | €629,163 | +€233,774 | +59.1% |
| Amounts payable after more than one year | 17 | - | €110,094 | +€110,094 | |
| Financial debts | 170/4 | - | €110,094 | +€110,094 | |
| Amounts payable within one year | 42/48 | €390,693 | €491,133 | +€100,439 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | €38,026 | +€38,026 | |
| Financial debts | 43 | €0 | €21,920 | +€21,920 | |
| Credit institutions | 430/8 | €0 | €21,920 | +€21,920 | |
| Trade debts | 44 | €54,905 | €145,142 | +€90,237 | +164% |
| Suppliers | 440/4 | €54,905 | €145,142 | +€90,237 | +164% |
| Taxes, remuneration and social security | 45 | €335,788 | €279,729 | -€56,059 | -16.7% |
| Taxes | 450/3 | €62,869 | €49,364 | -€13,506 | -21.5% |
| Remuneration and social security | 454/9 | €272,919 | €230,365 | -€42,553 | -15.6% |
| Other amounts payable | 47/48 | €0 | €6,316 | +€6,316 | |
| Accrued charges and deferred income | 492/3 | €4,695 | €27,936 | +€23,241 | +495% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,906,187 | €1,586,048 | -€320,139 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,680 | €49,216 | +€27,536 | +127% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,750 | +€16,750 | |
| Other operating charges | 640/8 | €797 | €6,352 | +€5,555 | +697% |
| Gross operating margin | 9900 | €2,196,356 | €1,455,937 | -€740,419 | -33.7% |
| Operating profit (loss) | 9901 | €267,692 | -€202,429 | -€470,122 | |
| Financial income | 75/76B | €56,028 | €27,378 | -€28,650 | -51.1% |
| Recurring financial income | 75 | €56,028 | €27,378 | -€28,650 | -51.1% |
| Financial charges | 65/66B | €37,535 | €92,057 | +€54,521 | +145% |
| Recurring financial charges | 65 | €37,535 | €29,057 | -€8,479 | -22.6% |
| Non-recurring financial charges | 66B | - | €63,000 | +€63,000 | |
| Profit (loss) for the period before taxes | 9903 | €286,185 | -€267,108 | -€553,293 | |
| Income taxes | 67/77 | €100,964 | €4,497 | -€96,467 | -95.5% |
| Profit (loss) for the period | 9904 | €185,221 | -€271,605 | -€456,826 | |
| Profit (loss) for the period to be appropriated | 9905 | €185,221 | -€271,605 | -€456,826 |
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 13 October 2026 via checked.be.