WINVEST: 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.
WINVEST
Largest movements
- Cash +€38,843
up €38,843 (+79.6%), from €48,817 to €87,661
mainly Depreciation (+€49,598) and Other debts (+€45,663)
- Tangible fixed assets -€31,997
down €31,997 (-6.0%), from €535,599 to €503,602
of which Land and buildings: -€22,551
- Other debts +€45,663
up €45,663 (+15.6%), from €293,483 to €339,146
- Debts after one year -€20,000
down €20,000 (-13.8%), from €145,000 to €125,000
- Profit (loss) carried forward -€17,416
down €17,416 (-39.1%), from -€44,518 to -€61,934
- Trade debts +€7,303
up €7,303 (+420%), from €1,738 to €9,041
- Gross operating margin +€22,568
up €22,568 (+112%), from €20,099 to €42,667
- Financial charges -€3,161
down €3,161 (-39.7%), from €7,955 to €4,794
- Taxes -€964
down €964 (-90.4%), from €1,067 to €102
- Depreciation -€468
down €468 (-0.9%), from €50,065 to €49,598
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 | €586,946 | €600,963 | +€14,017 | +2.4% |
| Fixed assets | 21/28 | €535,996 | €503,998 | -€31,997 | -6.0% |
| Tangible fixed assets | 22/27 | €535,599 | €503,602 | -€31,997 | -6.0% |
| Land and buildings | 22 | €517,759 | €495,208 | -€22,551 | -4.4% |
| Furniture and vehicles | 24 | €17,840 | €8,394 | -€9,447 | -53.0% |
| Financial fixed assets | 28 | €397 | €397 | = | 0.0% |
| Current assets | 29/58 | €50,951 | €96,965 | +€46,014 | +90.3% |
| Amounts receivable within one year | 40/41 | €3 | €3,699 | +€3,697 | +129,251% |
| Trade receivables | 40 | - | €3,697 | +€3,697 | |
| Other amounts receivable | 41 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,817 | €87,661 | +€38,843 | +79.6% |
| Deferred charges and accrued income | 490/1 | €2,131 | €5,604 | +€3,474 | +163% |
| Total equity and liabilities | 10/49 | €586,946 | €600,963 | +€14,017 | +2.4% |
| Equity | 10/15 | €119,166 | €101,750 | -€17,416 | -14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,085 | €145,085 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,426 | €9,426 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,426 | €9,426 | = | 0.0% |
| Distributable reserves | 133 | €135,659 | €135,659 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,518 | -€61,934 | -€17,416 | -39.1% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €462,780 | €494,213 | +€31,432 | +6.8% |
| Amounts payable after more than one year | 17 | €145,000 | €125,000 | -€20,000 | -13.8% |
| Financial debts | 170/4 | €145,000 | €125,000 | -€20,000 | -13.8% |
| Amounts payable within one year | 42/48 | €315,606 | €369,213 | +€53,607 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €1,738 | €9,041 | +€7,303 | +420% |
| Suppliers | 440/4 | €1,738 | €9,041 | +€7,303 | +420% |
| Taxes, remuneration and social security | 45 | €385 | €1,027 | +€642 | +167% |
| Taxes | 450/3 | €385 | €1,027 | +€642 | +167% |
| Other amounts payable | 47/48 | €293,483 | €339,146 | +€45,663 | +15.6% |
| Accrued charges and deferred income | 492/3 | €2,175 | - | -€2,175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,065 | €49,598 | -€468 | -0.9% |
| Other operating charges | 640/8 | €6,120 | €5,930 | -€190 | -3.1% |
| Non-recurring operating charges | 66A | €3,934 | - | -€3,934 | |
| Gross operating margin | 9900 | €20,099 | €42,667 | +€22,568 | +112% |
| Operating profit (loss) | 9901 | -€40,020 | -€12,861 | +€27,159 | +67.9% |
| Financial income | 75/76B | €11 | €341 | +€330 | +3,002% |
| Recurring financial income | 75 | €11 | €341 | +€330 | +3,002% |
| Financial charges | 65/66B | €7,955 | €4,794 | -€3,161 | -39.7% |
| Recurring financial charges | 65 | €7,955 | €4,794 | -€3,161 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | -€47,964 | -€17,314 | +€30,650 | +63.9% |
| Income taxes | 67/77 | €1,067 | €102 | -€964 | -90.4% |
| Profit (loss) for the period | 9904 | -€49,030 | -€17,416 | +€31,614 | +64.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,030 | -€17,416 | +€31,614 | +64.5% |
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 14 October 2026 via checked.be.