Words & Wines: 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.
Words & Wines
Largest movements
- Receivables within one year +€17,835
up €17,835 (+42.6%), from €41,830 to €59,665
of which Trade receivables: +€19,835
- Cash +€14,298
up €14,298 (+43.1%), from €33,157 to €47,455
mainly Net result for the year (+€23,069) and Tax, wage and social debts (+€12,852)
- Stocks and contracts +€7,868
up €7,868 (+32.4%), from €24,282 to €32,150
- Tangible fixed assets -€2,133
down €2,133 (-22.3%), from €9,578 to €7,446
of which Plant, machinery and equipment: -€1,986
- Financial fixed assets +€2,000
up €2,000 (+50.0%), from €4,000 to €6,000
- Reserves +€13,069
up €13,069 (+74.9%), from €17,438 to €30,507
- Tax, wage and social debts +€12,852
up €12,852 (+202%), from €6,356 to €19,207
- Trade debts +€6,089
up €6,089 (+77.1%), from €7,897 to €13,986
- Accrued charges and deferred income +€5,690
up €5,690 (+127%), from €4,484 to €10,174
- Gross operating margin +€21,683
up €21,683 (+117%), from €18,587 to €40,270
- Taxes +€3,218
up €3,218 (+75.6%), from €4,257 to €7,475
- Other operating charges +€2,462
up €2,462 (+279%), from €884 to €3,346
- Depreciation +€986
up €986 (+46.0%), from €2,144 to €3,131
- Financial charges +€673
up €673 (+25.6%), from €2,627 to €3,300
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 | €117,021 | €155,732 | +€38,711 | +33.1% |
| Fixed assets | 21/28 | €14,476 | €13,943 | -€533 | -3.7% |
| Intangible fixed assets | 21 | €898 | €498 | -€400 | -44.6% |
| Tangible fixed assets | 22/27 | €9,578 | €7,446 | -€2,133 | -22.3% |
| Plant, machinery and equipment | 23 | €7,601 | €5,616 | -€1,986 | -26.1% |
| Furniture and vehicles | 24 | €1,977 | €1,830 | -€147 | -7.4% |
| Financial fixed assets | 28 | €4,000 | €6,000 | +€2,000 | +50.0% |
| Current assets | 29/58 | €102,545 | €141,789 | +€39,244 | +38.3% |
| Stocks and contracts in progress | 3 | €24,282 | €32,150 | +€7,868 | +32.4% |
| Stocks | 30/36 | €24,282 | €32,150 | +€7,868 | +32.4% |
| Amounts receivable within one year | 40/41 | €41,830 | €59,665 | +€17,835 | +42.6% |
| Trade receivables | 40 | €38,457 | €58,291 | +€19,835 | +51.6% |
| Other amounts receivable | 41 | €3,373 | €1,374 | -€1,999 | -59.3% |
| Cash at bank and in hand | 54/58 | €33,157 | €47,455 | +€14,298 | +43.1% |
| Deferred charges and accrued income | 490/1 | €3,277 | €2,519 | -€758 | -23.1% |
| Total equity and liabilities | 10/49 | €117,021 | €155,732 | +€38,711 | +33.1% |
| Equity | 10/15 | €39,043 | €52,112 | +€13,069 | +33.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €17,438 | €30,507 | +€13,069 | +74.9% |
| Distributable reserves | 133 | €17,438 | €30,507 | +€13,069 | +74.9% |
| Profit (loss) carried forward | 14 | €11,605 | €11,605 | = | 0.0% |
| Amounts payable | 17/49 | €77,979 | €103,621 | +€25,642 | +32.9% |
| Amounts payable within one year | 42/48 | €73,494 | €93,447 | +€19,953 | +27.1% |
| Trade debts | 44 | €7,897 | €13,986 | +€6,089 | +77.1% |
| Suppliers | 440/4 | €7,897 | €13,986 | +€6,089 | +77.1% |
| Taxes, remuneration and social security | 45 | €6,356 | €19,207 | +€12,852 | +202% |
| Taxes | 450/3 | €6,356 | €19,207 | +€12,852 | +202% |
| Other amounts payable | 47/48 | €59,241 | €60,254 | +€1,013 | +1.7% |
| Accrued charges and deferred income | 492/3 | €4,484 | €10,174 | +€5,690 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,144 | €3,131 | +€986 | +46.0% |
| Other operating charges | 640/8 | €884 | €3,346 | +€2,462 | +279% |
| Gross operating margin | 9900 | €18,587 | €40,270 | +€21,683 | +117% |
| Operating profit (loss) | 9901 | €15,559 | €33,793 | +€18,234 | +117% |
| Financial income | 75/76B | €60 | €51 | -€9 | -14.8% |
| Recurring financial income | 75 | €60 | €51 | -€9 | -14.8% |
| Financial charges | 65/66B | €2,627 | €3,300 | +€673 | +25.6% |
| Recurring financial charges | 65 | €2,627 | €3,300 | +€673 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €12,992 | €30,544 | +€17,552 | +135% |
| Income taxes | 67/77 | €4,257 | €7,475 | +€3,218 | +75.6% |
| Profit (loss) for the period | 9904 | €8,736 | €23,069 | +€14,333 | +164% |
| Profit (loss) for the period to be appropriated | 9905 | €8,736 | €23,069 | +€14,333 | +164% |
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 29 October 2026 via checked.be.