WINSTON 2: what changed
Two fiscal 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 2
Largest movements
- Tangible fixed assets -€18,978
down €18,978 (-7.0%), from €270,347 to €251,369
of which Furniture and vehicles: -€11,784
- Cash -€6,426
down €6,426 (-11.9%), from €54,053 to €47,628
mainly Net result for the year (-€8,914) and Debts after one year (-€8,692)
- Profit (loss) carried forward -€8,914
down €8,914 (-22.0%), from €40,503 to €31,589
- Debts after one year -€8,692
down €8,692 (-11.5%), from €75,332 to €66,641
- Current portion of long-term debt -€8,308
down €8,308 (-48.9%), from €17,000 to €8,692
- Gross operating margin -€37,150
down €37,150 (-33.2%), from €111,777 to €74,627
- Depreciation +€12,849
up €12,849 (+209.6%), from €6,130 to €18,978
- Taxes -€6,939
down €6,939 (-95.3%), from €7,283 to €344
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 | €346,098 | €320,678 | -€25,420 | -7.3% |
| Fixed assets | 21/28 | €270,347 | €251,369 | -€18,978 | -7.0% |
| Tangible fixed assets | 22/27 | €270,347 | €251,369 | -€18,978 | -7.0% |
| Land and buildings | 22 | €200,652 | €196,412 | -€4,239 | -2.1% |
| Plant, machinery and equipment | 23 | €11,759 | €8,805 | -€2,954 | -25.1% |
| Furniture and vehicles | 24 | €57,936 | €46,152 | -€11,784 | -20.3% |
| Current assets | 29/58 | €75,751 | €69,309 | -€6,442 | -8.5% |
| Stocks and contracts in progress | 3 | €20,516 | €21,415 | +€899 | +4.4% |
| Stocks | 30/36 | €20,516 | €21,415 | +€899 | +4.4% |
| Amounts receivable within one year | 40/41 | €1,181 | €0 | -€1,181 | -100.0% |
| Trade receivables | 40 | €680 | €0 | -€680 | -100.0% |
| Other amounts receivable | 41 | €502 | €0 | -€502 | -100.0% |
| Cash at bank and in hand | 54/58 | €54,053 | €47,628 | -€6,426 | -11.9% |
| Deferred charges and accrued income | 490/1 | - | €266 | +€266 | |
| Total equity and liabilities | 10/49 | €346,098 | €320,678 | -€25,420 | -7.3% |
| Equity | 10/15 | €210,058 | €201,144 | -€8,914 | -4.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €105,581 | €105,581 | = | 0.0% |
| Reserves | 13 | €43,974 | €43,974 | = | 0.0% |
| Non-distributable reserves | 130/1 | €151 | €151 | = | 0.0% |
| Reserves not available under the articles | 1311 | €151 | €151 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,719 | €15,719 | = | 0.0% |
| Distributable reserves | 133 | €28,104 | €28,104 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,503 | €31,589 | -€8,914 | -22.0% |
| Amounts payable | 17/49 | €136,040 | €119,534 | -€16,506 | -12.1% |
| Amounts payable after more than one year | 17 | €75,332 | €66,641 | -€8,692 | -11.5% |
| Financial debts | 170/4 | €75,332 | €66,641 | -€8,692 | -11.5% |
| Amounts payable within one year | 42/48 | €60,708 | €52,893 | -€7,815 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €17,000 | €8,692 | -€8,308 | -48.9% |
| Trade debts | 44 | €8,663 | €10,348 | +€1,685 | +19.4% |
| Suppliers | 440/4 | €8,663 | €10,348 | +€1,685 | +19.4% |
| Taxes, remuneration and social security | 45 | €21,281 | €21,388 | +€107 | +0.5% |
| Taxes | 450/3 | €12,570 | €14,811 | +€2,241 | +17.8% |
| Remuneration and social security | 454/9 | €8,711 | €6,577 | -€2,134 | -24.5% |
| Other amounts payable | 47/48 | €13,763 | €12,465 | -€1,298 | -9.4% |
| Non-recurring operating income | 76A | €28,310 | €0 | -€28,310 | -100.0% |
| Remuneration, social security and pensions | 62 | €57,477 | €56,828 | -€649 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,130 | €18,978 | +€12,849 | +209.6% |
| Other operating charges | 640/8 | €5,015 | €4,292 | -€722 | -14.4% |
| Non-recurring operating charges | 66A | €5,024 | €0 | -€5,024 | -100.0% |
| Gross operating margin | 9900 | €111,777 | €74,627 | -€37,150 | -33.2% |
| Operating profit (loss) | 9901 | €38,131 | -€5,471 | -€43,603 | |
| Financial income | 75/76B | €205 | €897 | +€693 | +338.4% |
| Recurring financial income | 75 | €205 | €897 | +€693 | +338.4% |
| Financial charges | 65/66B | €2,949 | €3,996 | +€1,047 | +35.5% |
| Recurring financial charges | 65 | €2,949 | €3,996 | +€1,047 | +35.5% |
| Profit (loss) for the period before taxes | 9903 | €35,387 | -€8,570 | -€43,957 | |
| Income taxes | 67/77 | €7,283 | €344 | -€6,939 | -95.3% |
| Profit (loss) for the period | 9904 | €28,104 | -€8,914 | -€37,018 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,104 | -€8,914 | -€37,018 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.