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 after one year +€312,869
new in 2025: €312,869
- Receivables within one year -€248,216
no longer reported in 2025 (was €248,216)
of which Other amounts receivable: -€191,015
- Cash +€188,166
up €188,166 (+190.3%), from €98,859 to €287,025
mainly Receivables within one year (+€248,216) and Net result for the year (+€190,644)
- Reserves +€190,644
up €190,644 (+64.3%), from €296,712 to €487,356
- Tax, wage and social debts +€62,802
up €62,802 (+125.5%), from €50,061 to €112,863
- Gross operating margin -€94,908
down €94,908 (-27.1%), from €350,053 to €255,145
- Taxes -€15,159
down €15,159 (-17.3%), from €87,863 to €72,704
- Financial income +€8,910
up €8,910 (+4630.2%), from €192 to €9,103
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 | €350,033 | €602,949 | +€252,916 | +72.3% |
| Current assets | 29/58 | €350,033 | €602,949 | +€252,916 | +72.3% |
| Amounts receivable after more than one year | 29 | - | €312,869 | +€312,869 | |
| Other amounts receivable | 291 | - | €312,869 | +€312,869 | |
| Amounts receivable within one year | 40/41 | €248,216 | - | -€248,216 | |
| Trade receivables | 40 | €57,201 | - | -€57,201 | |
| Other amounts receivable | 41 | €191,015 | - | -€191,015 | |
| Cash at bank and in hand | 54/58 | €98,859 | €287,025 | +€188,166 | +190.3% |
| Deferred charges and accrued income | 490/1 | €2,957 | €3,055 | +€97 | +3.3% |
| Total equity and liabilities | 10/49 | €350,033 | €602,949 | +€252,916 | +72.3% |
| Equity | 10/15 | €299,212 | €489,856 | +€190,644 | +63.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €296,712 | €487,356 | +€190,644 | +64.3% |
| Distributable reserves | 133 | €296,712 | €487,356 | +€190,644 | +64.3% |
| Amounts payable | 17/49 | €50,820 | €113,093 | +€62,272 | +122.5% |
| Amounts payable within one year | 42/48 | €50,820 | €113,093 | +€62,272 | +122.5% |
| Trade debts | 44 | €760 | €60 | -€700 | -92.2% |
| Suppliers | 440/4 | €760 | €60 | -€700 | -92.2% |
| Taxes, remuneration and social security | 45 | €50,061 | €112,863 | +€62,802 | +125.5% |
| Taxes | 450/3 | €50,061 | €112,863 | +€62,802 | +125.5% |
| Other amounts payable | 47/48 | - | €170 | +€170 | |
| Other operating charges | 640/8 | €528 | €726 | +€198 | +37.4% |
| Gross operating margin | 9900 | €350,053 | €255,145 | -€94,908 | -27.1% |
| Operating profit (loss) | 9901 | €349,525 | €254,419 | -€95,105 | -27.2% |
| Financial income | 75/76B | €192 | €9,103 | +€8,910 | +4630.2% |
| Recurring financial income | 75 | €192 | €9,103 | +€8,910 | +4630.2% |
| Financial charges | 65/66B | €0 | €175 | +€175 | +116373.3% |
| Recurring financial charges | 65 | €0 | €175 | +€175 | +116373.3% |
| Profit (loss) for the period before taxes | 9903 | €349,717 | €263,347 | -€86,370 | -24.7% |
| Income taxes | 67/77 | €87,863 | €72,704 | -€15,159 | -17.3% |
| Profit (loss) for the period | 9904 | €261,854 | €190,644 | -€71,210 | -27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €261,854 | €190,644 | -€71,210 | -27.2% |
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 10 October 2026 via checked.be.