Winston: 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.
Winston
Largest movements
- Receivables within one year -€42,732
down €42,732 (-68.5%), from €62,402 to €19,670
of which Trade receivables: -€38,932
- Cash -€39,493
down €39,493 (-26.7%), from €147,947 to €108,455
mainly Contributions, distributions and other (-€88,732) and Other debts (-€62,346)
- Tangible fixed assets -€4,504
down €4,504 (-35.6%), from €12,639 to €8,135
of which Furniture and vehicles: -€3,734
- Other debts -€62,346
down €62,346 (-46.9%), from €132,988 to €70,642
- Tax, wage and social debts -€21,835
down €21,835 (-35.9%), from €60,738 to €38,903
- Gross operating margin -€88,359
down €88,359 (-41.4%), from €213,534 to €125,175
- Taxes -€23,043
down €23,043 (-45.8%), from €50,357 to €27,314
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 | €234,637 | €149,197 | -€85,441 | -36.4% |
| Fixed assets | 21/28 | €12,639 | €8,135 | -€4,504 | -35.6% |
| Tangible fixed assets | 22/27 | €12,639 | €8,135 | -€4,504 | -35.6% |
| Furniture and vehicles | 24 | €9,682 | €5,948 | -€3,734 | -38.6% |
| Other tangible fixed assets | 26 | €2,957 | €2,187 | -€770 | -26.0% |
| Current assets | 29/58 | €221,998 | €141,061 | -€80,937 | -36.5% |
| Amounts receivable within one year | 40/41 | €62,402 | €19,670 | -€42,732 | -68.5% |
| Trade receivables | 40 | €58,602 | €19,670 | -€38,932 | -66.4% |
| Other amounts receivable | 41 | €3,800 | €0 | -€3,800 | -100% |
| Current investments | 50/53 | €6,369 | €7,583 | +€1,214 | +19.1% |
| Cash at bank and in hand | 54/58 | €147,947 | €108,455 | -€39,493 | -26.7% |
| Deferred charges and accrued income | 490/1 | €5,280 | €5,354 | +€74 | +1.4% |
| Total equity and liabilities | 10/49 | €234,637 | €149,197 | -€85,441 | -36.4% |
| Equity | 10/15 | €37,200 | €37,200 | = | 0.0% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €197,437 | €111,997 | -€85,441 | -43.3% |
| Amounts payable within one year | 42/48 | €196,437 | €110,997 | -€85,441 | -43.5% |
| Trade debts | 44 | €2,711 | €1,451 | -€1,260 | -46.5% |
| Suppliers | 440/4 | €2,711 | €1,451 | -€1,260 | -46.5% |
| Taxes, remuneration and social security | 45 | €60,738 | €38,903 | -€21,835 | -35.9% |
| Taxes | 450/3 | €60,738 | €38,903 | -€21,835 | -35.9% |
| Other amounts payable | 47/48 | €132,988 | €70,642 | -€62,346 | -46.9% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,156 | €5,189 | +€33 | +0.6% |
| Other operating charges | 640/8 | €1,592 | €1,490 | -€101 | -6.4% |
| Non-recurring operating charges | 66A | €36 | €314 | +€279 | +778% |
| Gross operating margin | 9900 | €213,534 | €125,175 | -€88,359 | -41.4% |
| Operating profit (loss) | 9901 | €206,751 | €118,182 | -€88,569 | -42.8% |
| Financial income | 75/76B | €10 | €20 | +€11 | +110% |
| Recurring financial income | 75 | €10 | €20 | +€11 | +110% |
| Financial charges | 65/66B | €2,956 | €2,156 | -€800 | -27.1% |
| Recurring financial charges | 65 | €2,956 | €2,156 | -€800 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €203,804 | €116,046 | -€87,758 | -43.1% |
| Income taxes | 67/77 | €50,357 | €27,314 | -€23,043 | -45.8% |
| Profit (loss) for the period | 9904 | €153,448 | €88,732 | -€64,716 | -42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €153,448 | €88,732 | -€64,716 | -42.2% |
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 24 October 2026 via checked.be.