WINVEST: 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.
WINVEST
Largest movements
- Current investments +€154,000
up €154,000 (+32.1%), from €480,000 to €634,000
- Receivables after one year -€120,000
no longer reported in 2025 (was €120,000)
- Cash +€49,014
up €49,014 (+60.4%), from €81,136 to €130,150
mainly Receivables after one year (+€120,000) and Receivables within one year (+€48,502)
- Receivables within one year -€48,502
no longer reported in 2025 (was €48,502)
- Tangible fixed assets -€17,521
down €17,521 (-5.4%), from €325,640 to €308,118
of which Furniture and vehicles: -€10,792
- Reserves +€27,702
up €27,702 (+3.6%), from €761,890 to €789,592
of which Distributable reserves: +€27,702
- Financial charges -€100,001
down €100,001 (-91.8%), from €108,975 to €8,974
of which Non-recurring financial charges: -€100,000
- Financial income -€15,858
down €15,858 (-56.8%), from €27,905 to €12,047
of which Non-recurring financial income: -€13,500
- Gross operating margin +€7,737
up €7,737 (+17.9%), from €43,286 to €51,022
- Taxes +€2,764
up €2,764 (+2142.2%), from €129 to €2,893
- Depreciation -€1,706
down €1,706 (-7.8%), from €21,915 to €20,209
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 | €1,063,512 | €1,083,558 | +€20,046 | +1.9% |
| Fixed assets | 21/28 | €326,928 | €309,407 | -€17,521 | -5.4% |
| Tangible fixed assets | 22/27 | €325,640 | €308,118 | -€17,521 | -5.4% |
| Land and buildings | 22 | €278,135 | €269,426 | -€8,708 | -3.1% |
| Plant, machinery and equipment | 23 | €2,882 | €4,862 | +€1,980 | +68.7% |
| Furniture and vehicles | 24 | €44,623 | €33,831 | -€10,792 | -24.2% |
| Financial fixed assets | 28 | €1,289 | €1,289 | = | 0.0% |
| Current assets | 29/58 | €736,584 | €774,151 | +€37,567 | +5.1% |
| Amounts receivable after more than one year | 29 | €120,000 | - | -€120,000 | |
| Other amounts receivable | 291 | €120,000 | - | -€120,000 | |
| Amounts receivable within one year | 40/41 | €48,502 | - | -€48,502 | |
| Other amounts receivable | 41 | €48,502 | - | -€48,502 | |
| Current investments | 50/53 | €480,000 | €634,000 | +€154,000 | +32.1% |
| Cash at bank and in hand | 54/58 | €81,136 | €130,150 | +€49,014 | +60.4% |
| Deferred charges and accrued income | 490/1 | €6,945 | €10,000 | +€3,055 | +44.0% |
| Total equity and liabilities | 10/49 | €1,063,512 | €1,083,558 | +€20,046 | +1.9% |
| Equity | 10/15 | €891,085 | €918,787 | +€27,702 | +3.1% |
| Contributions | 10/11 | €129,195 | €129,195 | = | 0.0% |
| Reserves | 13 | €761,890 | €789,592 | +€27,702 | +3.6% |
| Non-distributable reserves | 130/1 | €14,160 | €14,160 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,160 | €14,160 | = | 0.0% |
| Distributable reserves | 133 | €747,730 | €775,432 | +€27,702 | +3.7% |
| Amounts payable | 17/49 | €172,427 | €164,770 | -€7,657 | -4.4% |
| Amounts payable after more than one year | 17 | €125,000 | €125,000 | = | 0.0% |
| Financial debts | 170/4 | €125,000 | €125,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,677 | €31,020 | -€7,657 | -19.8% |
| Trade debts | 44 | €204 | €259 | +€55 | +27.0% |
| Suppliers | 440/4 | €204 | €259 | +€55 | +27.0% |
| Taxes, remuneration and social security | 45 | - | €195 | +€195 | |
| Taxes | 450/3 | - | €195 | +€195 | |
| Other amounts payable | 47/48 | €38,473 | €30,566 | -€7,907 | -20.6% |
| Accrued charges and deferred income | 492/3 | €8,750 | €8,750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,915 | €20,209 | -€1,706 | -7.8% |
| Other operating charges | 640/8 | €3,229 | €3,291 | +€62 | +1.9% |
| Gross operating margin | 9900 | €43,286 | €51,022 | +€7,737 | +17.9% |
| Operating profit (loss) | 9901 | €18,142 | €27,522 | +€9,381 | +51.7% |
| Financial income | 75/76B | €27,905 | €12,047 | -€15,858 | -56.8% |
| Recurring financial income | 75 | €14,405 | €12,047 | -€2,358 | -16.4% |
| Non-recurring financial income | 76B | €13,500 | - | -€13,500 | |
| Financial charges | 65/66B | €108,975 | €8,974 | -€100,001 | -91.8% |
| Recurring financial charges | 65 | €8,975 | €8,974 | -€1 | 0.0% |
| Non-recurring financial charges | 66B | €100,000 | - | -€100,000 | |
| Profit (loss) for the period before taxes | 9903 | -€62,928 | €30,595 | +€93,523 | |
| Income taxes | 67/77 | €129 | €2,893 | +€2,764 | +2142.2% |
| Profit (loss) for the period | 9904 | -€63,057 | €27,702 | +€90,759 | |
| Profit (loss) for the period to be appropriated | 9905 | -€63,057 | €27,702 | +€90,759 |
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 3 October 2026 via checked.be.