Winterberg 2020: 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.
Winterberg 2020
Largest movements
- Stocks and contracts -€495,481
down €495,481 (-54.0%), from €917,045 to €421,564
- Receivables within one year -€14,777
down €14,777 (-80.8%), from €18,291 to €3,514
- Other debts -€423,523
down €423,523 (-57.1%), from €741,745 to €318,222
- Debts after one year -€200,000
no longer reported in 2025 (was €200,000)
- Reserves +€66,527
new in 2025: €66,527
- Profit (loss) carried forward +€38,761
no longer reported in 2025 (was -€38,761)
- Advances received -€35,000
no longer reported in 2025 (was €35,000)
- Gross operating margin +€177,277
up €177,277, from -€25,108 to €152,169
- Taxes +€33,860
new in 2025: €33,860
- Financial charges +€6,700
up €6,700 (+191.1%), from €3,507 to €10,207
- Other operating charges -€1,657
down €1,657 (-67.0%), from €2,472 to €816
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 | €950,315 | €432,037 | -€518,278 | -54.5% |
| Fixed assets | 21/28 | €5,789 | €4,412 | -€1,377 | -23.8% |
| Tangible fixed assets | 22/27 | €3,789 | €2,412 | -€1,377 | -36.3% |
| Plant, machinery and equipment | 23 | €548 | €676 | +€128 | +23.4% |
| Furniture and vehicles | 24 | €3,242 | €1,736 | -€1,506 | -46.4% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €944,526 | €427,625 | -€516,901 | -54.7% |
| Stocks and contracts in progress | 3 | €917,045 | €421,564 | -€495,481 | -54.0% |
| Stocks | 30/36 | €917,045 | €421,564 | -€495,481 | -54.0% |
| Amounts receivable within one year | 40/41 | €18,291 | €3,514 | -€14,777 | -80.8% |
| Other amounts receivable | 41 | €18,291 | €3,514 | -€14,777 | -80.8% |
| Cash at bank and in hand | 54/58 | €9,190 | €2,547 | -€6,642 | -72.3% |
| Total equity and liabilities | 10/49 | €950,315 | €432,037 | -€518,278 | -54.5% |
| Equity | 10/15 | -€28,761 | €76,527 | +€105,288 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €66,527 | +€66,527 | |
| Distributable reserves | 133 | - | €66,527 | +€66,527 | |
| Profit (loss) carried forward | 14 | -€38,761 | - | +€38,761 | |
| Amounts payable | 17/49 | €979,077 | €355,510 | -€623,567 | -63.7% |
| Amounts payable after more than one year | 17 | €200,000 | - | -€200,000 | |
| Financial debts | 170/4 | €200,000 | - | -€200,000 | |
| Amounts payable within one year | 42/48 | €779,077 | €353,590 | -€425,487 | -54.6% |
| Trade debts | 44 | €2,332 | €11,508 | +€9,177 | +393.6% |
| Suppliers | 440/4 | €2,332 | €11,508 | +€9,177 | +393.6% |
| Advances received on contracts in progress | 46 | €35,000 | - | -€35,000 | |
| Taxes, remuneration and social security | 45 | - | €23,860 | +€23,860 | |
| Taxes | 450/3 | - | €23,860 | +€23,860 | |
| Other amounts payable | 47/48 | €741,745 | €318,222 | -€423,523 | -57.1% |
| Accrued charges and deferred income | 492/3 | - | €1,920 | +€1,920 | |
| Remuneration, social security and pensions | 62 | €75 | €110 | +€35 | +46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €1,903 | +€229 | +13.7% |
| Other operating charges | 640/8 | €2,472 | €816 | -€1,657 | -67.0% |
| Gross operating margin | 9900 | -€25,108 | €152,169 | +€177,277 | |
| Operating profit (loss) | 9901 | -€29,330 | €149,340 | +€178,670 | |
| Financial income | 75/76B | €7 | €15 | +€8 | +119.2% |
| Recurring financial income | 75 | €7 | €15 | +€8 | +119.2% |
| Financial charges | 65/66B | €3,507 | €10,207 | +€6,700 | +191.1% |
| Recurring financial charges | 65 | €3,507 | €10,207 | +€6,700 | +191.1% |
| Profit (loss) for the period before taxes | 9903 | -€32,830 | €139,148 | +€171,978 | |
| Income taxes | 67/77 | - | €33,860 | +€33,860 | |
| Profit (loss) for the period | 9904 | -€32,830 | €105,288 | +€138,119 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,830 | €105,288 | +€138,119 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.