4WINGS Foundation: 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.
4WINGS Foundation
Largest movements
- Current investments -€600,000
no longer reported in 2025 (was €600,000)
- Cash -€240,266
down €240,266 (-41.0%), from €585,988 to €345,722
mainly Net result for the year (-€1.0m) and Trade debts (-€7,898)
- Receivables within one year -€124,172
down €124,172 (-98.8%), from €125,665 to €1,493
of which Other amounts receivable: -€125,007
- Receivables after one year -€73,550
down €73,550 (-18.2%), from €403,330 to €329,779
- Reserves -€1.0m
down €1.0m (-52.7%), from €1.9m to €921,499
- Gross operating margin -€1.1m
down €1.1m, from €232,215 to -€862,368
- Financial income -€87,374
down €87,374 (-83.5%), from €104,578 to €17,204
of which Non-recurring financial income: -€95,573
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 | €1,971,335 | €931,303 | -€1.0m | -52.8% |
| Fixed assets | 21/28 | €255,716 | €253,872 | -€1,844 | -0.7% |
| Tangible fixed assets | 22/27 | €3,744 | €1,900 | -€1,844 | -49.3% |
| Furniture and vehicles | 24 | €3,744 | €1,900 | -€1,844 | -49.3% |
| Financial fixed assets | 28 | €251,972 | €251,972 | = | 0.0% |
| Current assets | 29/58 | €1,715,619 | €677,431 | -€1.0m | -60.5% |
| Amounts receivable after more than one year | 29 | €403,330 | €329,779 | -€73,550 | -18.2% |
| Other amounts receivable | 291 | €403,330 | €329,779 | -€73,550 | -18.2% |
| Amounts receivable within one year | 40/41 | €125,665 | €1,493 | -€124,172 | -98.8% |
| Trade receivables | 40 | - | €835 | +€835 | |
| Other amounts receivable | 41 | €125,665 | €658 | -€125,007 | -99.5% |
| Current investments | 50/53 | €600,000 | - | -€600,000 | |
| Cash at bank and in hand | 54/58 | €585,988 | €345,722 | -€240,266 | -41.0% |
| Deferred charges and accrued income | 490/1 | €636 | €437 | -€200 | -31.4% |
| Total equity and liabilities | 10/49 | €1,971,335 | €931,303 | -€1.0m | -52.8% |
| Equity | 10/15 | €1,949,310 | €921,499 | -€1.0m | -52.7% |
| Reserves | 13 | €1,949,310 | €921,499 | -€1.0m | -52.7% |
| Amounts payable | 17/49 | €22,025 | €9,804 | -€12,221 | -55.5% |
| Amounts payable within one year | 42/48 | €22,025 | €9,804 | -€12,221 | -55.5% |
| Trade debts | 44 | €11,682 | €3,784 | -€7,898 | -67.6% |
| Suppliers | 440/4 | €11,682 | €3,784 | -€7,898 | -67.6% |
| Taxes, remuneration and social security | 45 | €10,343 | €6,020 | -€4,323 | -41.8% |
| Taxes | 450/3 | €1,934 | - | -€1,934 | |
| Remuneration and social security | 454/9 | €8,409 | €6,020 | -€2,388 | -28.4% |
| Remuneration, social security and pensions | 62 | €174,635 | €180,329 | +€5,694 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,140 | €1,660 | -€480 | -22.4% |
| Other operating charges | 640/8 | €139 | - | -€139 | |
| Non-recurring operating charges | 66A | - | €184 | +€184 | |
| Gross operating margin | 9900 | €232,215 | -€862,368 | -€1.1m | |
| Operating profit (loss) | 9901 | €55,301 | -€1,044,541 | -€1.1m | |
| Financial income | 75/76B | €104,578 | €17,204 | -€87,374 | -83.5% |
| Recurring financial income | 75 | €9,005 | €17,204 | +€8,199 | +91.1% |
| Non-recurring financial income | 76B | €95,573 | - | -€95,573 | |
| Financial charges | 65/66B | €228 | €473 | +€246 | +107.9% |
| Recurring financial charges | 65 | €228 | €473 | +€246 | +107.9% |
| Profit (loss) for the period before taxes | 9903 | €159,651 | -€1,027,810 | -€1.2m | |
| Profit (loss) for the period | 9904 | €159,651 | -€1,027,810 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €159,651 | -€1,027,810 | -€1.2m |
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 9 October 2026 via checked.be.