WIN-WIN: 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.
WIN-WIN
Largest movements
- Receivables within one year -€44,242
down €44,242 (-82.7%), from €53,492 to €9,249
- Tangible fixed assets +€39,576
up €39,576 (+40.7%), from €97,334 to €136,911
of which Leasing and similar rights: +€41,062
- Cash -€27,054
down €27,054 (-16.4%), from €164,706 to €137,652
mainly Contributions, distributions and other (-€83,597) and Investment in fixed assets (net) (-€51,832)
- Reserves -€54,304
down €54,304 (-8.2%), from €661,277 to €606,972
of which Distributable reserves: -€54,304
- Debts after one year +€11,387
up €11,387 (+30.6%), from €37,210 to €48,597
- Current portion of long-term debt +€8,395
up €8,395 (+103%), from €8,180 to €16,576
- Depreciation +€8,639
up €8,639 (+239%), from €3,617 to €12,256
- Write-downs -€5,000
no longer reported in 2025 (was €5,000)
- Other operating charges +€4,673
up €4,673 (+192%), from €2,430 to €7,103
- Taxes -€3,160
down €3,160 (-18.5%), from €17,104 to €13,944
- Financial income -€1,426
down €1,426 (-53.5%), from €2,666 to €1,240
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 | €730,404 | €693,042 | -€37,362 | -5.1% |
| Fixed assets | 21/28 | €506,564 | €546,140 | +€39,576 | +7.8% |
| Tangible fixed assets | 22/27 | €97,334 | €136,911 | +€39,576 | +40.7% |
| Land and buildings | 22 | €97,334 | €93,717 | -€3,617 | -3.7% |
| Plant, machinery and equipment | 23 | - | €2,131 | +€2,131 | |
| Leasing and similar rights | 25 | - | €41,062 | +€41,062 | |
| Financial fixed assets | 28 | €409,230 | €409,230 | = | 0.0% |
| Current assets | 29/58 | €223,840 | €146,902 | -€76,939 | -34.4% |
| Amounts receivable after more than one year | 29 | €4,500 | - | -€4,500 | |
| Other amounts receivable | 291 | €4,500 | - | -€4,500 | |
| Amounts receivable within one year | 40/41 | €53,492 | €9,249 | -€44,242 | -82.7% |
| Other amounts receivable | 41 | €53,492 | €9,249 | -€44,242 | -82.7% |
| Cash at bank and in hand | 54/58 | €164,706 | €137,652 | -€27,054 | -16.4% |
| Deferred charges and accrued income | 490/1 | €1,143 | - | -€1,143 | |
| Total equity and liabilities | 10/49 | €730,404 | €693,042 | -€37,362 | -5.1% |
| Equity | 10/15 | €679,877 | €625,572 | -€54,304 | -8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €661,277 | €606,972 | -€54,304 | -8.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €659,417 | €605,112 | -€54,304 | -8.2% |
| Amounts payable | 17/49 | €50,527 | €67,470 | +€16,942 | +33.5% |
| Amounts payable after more than one year | 17 | €37,210 | €48,597 | +€11,387 | +30.6% |
| Financial debts | 170/4 | €37,210 | €48,597 | +€11,387 | +30.6% |
| Amounts payable within one year | 42/48 | €13,318 | €18,873 | +€5,556 | +41.7% |
| Current portion of amounts payable after more than one year | 42 | €8,180 | €16,576 | +€8,395 | +103% |
| Trade debts | 44 | €2,789 | €1,692 | -€1,097 | -39.3% |
| Suppliers | 440/4 | €2,789 | €1,692 | -€1,097 | -39.3% |
| Taxes, remuneration and social security | 45 | €2,348 | - | -€2,348 | |
| Taxes | 450/3 | €2,348 | - | -€2,348 | |
| Other amounts payable | 47/48 | - | €605 | +€605 | |
| Non-recurring operating income | 76A | €2,500 | €5,000 | +€2,500 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,617 | €12,256 | +€8,639 | +239% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,000 | - | -€5,000 | |
| Other operating charges | 640/8 | €2,430 | €7,103 | +€4,673 | +192% |
| Gross operating margin | 9900 | €62,997 | €63,937 | +€939 | +1.5% |
| Operating profit (loss) | 9901 | €51,950 | €44,578 | -€7,372 | -14.2% |
| Financial income | 75/76B | €2,666 | €1,240 | -€1,426 | -53.5% |
| Recurring financial income | 75 | €2,666 | €1,240 | -€1,426 | -53.5% |
| Financial charges | 65/66B | €1,813 | €2,582 | +€769 | +42.4% |
| Recurring financial charges | 65 | €1,813 | €2,582 | +€769 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €52,803 | €43,236 | -€9,567 | -18.1% |
| Income taxes | 67/77 | €17,104 | €13,944 | -€3,160 | -18.5% |
| Profit (loss) for the period | 9904 | €35,699 | €29,293 | -€6,407 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,699 | €29,293 | -€6,407 | -17.9% |
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 30 October 2026 via checked.be.