BIRD ON A WIRE: 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.
BIRD ON A WIRE
Largest movements
- Cash -€154,933
down €154,933 (-59.1%), from €262,081 to €107,148
mainly Investment in fixed assets (net) (-€123,912) and Receivables after one year (-€48,782)
- Financial fixed assets +€119,331
up €119,331 (+21.8%), from €546,719 to €666,050
- Receivables after one year +€48,782
new in 2025: €48,782
- Receivables within one year +€14,914
up €14,914 (+117,340%), from €13 to €14,927
of which Trade receivables: +€8,713
- Reserves +€70,786
up €70,786 (+25.9%), from €273,097 to €343,882
- Other debts -€33,815
no longer reported in 2025 (was €33,815)
- Financial income -€95,169
down €95,169 (-53.4%), from €178,059 to €82,890
- Taxes -€9,343
down €9,343 (-54.8%), from €17,035 to €7,692
- Gross operating margin -€5,952
down €5,952 (-11.4%), from €52,312 to €46,360
- Depreciation +€591
up €591 (+58.2%), from €1,014 to €1,605
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 | €810,882 | €841,952 | +€31,070 | +3.8% |
| Fixed assets | 21/28 | €548,789 | €671,096 | +€122,307 | +22.3% |
| Tangible fixed assets | 22/27 | €2,070 | €5,046 | +€2,976 | +144% |
| Plant, machinery and equipment | 23 | - | €356 | +€356 | |
| Furniture and vehicles | 24 | €2,070 | €4,689 | +€2,619 | +127% |
| Financial fixed assets | 28 | €546,719 | €666,050 | +€119,331 | +21.8% |
| Current assets | 29/58 | €262,094 | €170,857 | -€91,237 | -34.8% |
| Amounts receivable after more than one year | 29 | - | €48,782 | +€48,782 | |
| Other amounts receivable | 291 | - | €48,782 | +€48,782 | |
| Amounts receivable within one year | 40/41 | €13 | €14,927 | +€14,914 | +117,340% |
| Trade receivables | 40 | - | €8,713 | +€8,713 | |
| Other amounts receivable | 41 | €13 | €6,214 | +€6,201 | +48,791% |
| Cash at bank and in hand | 54/58 | €262,081 | €107,148 | -€154,933 | -59.1% |
| Total equity and liabilities | 10/49 | €810,882 | €841,952 | +€31,070 | +3.8% |
| Equity | 10/15 | €750,397 | €821,182 | +€70,786 | +9.4% |
| Contributions | 10/11 | €477,300 | €477,300 | = | 0.0% |
| Reserves | 13 | €273,097 | €343,882 | +€70,786 | +25.9% |
| Distributable reserves | 133 | €273,097 | €343,882 | +€70,786 | +25.9% |
| Amounts payable | 17/49 | €60,486 | €20,770 | -€39,716 | -65.7% |
| Amounts payable within one year | 42/48 | €60,486 | €20,770 | -€39,716 | -65.7% |
| Trade debts | 44 | €4,885 | €83 | -€4,803 | -98.3% |
| Suppliers | 440/4 | €4,885 | €83 | -€4,803 | -98.3% |
| Taxes, remuneration and social security | 45 | €21,785 | €20,687 | -€1,098 | -5.0% |
| Taxes | 450/3 | €18,785 | €20,687 | +€1,902 | +10.1% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €33,815 | - | -€33,815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,014 | €1,605 | +€591 | +58.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €52,312 | €46,360 | -€5,952 | -11.4% |
| Operating profit (loss) | 9901 | €50,911 | €44,355 | -€6,555 | -12.9% |
| Financial income | 75/76B | €178,059 | €82,890 | -€95,169 | -53.4% |
| Recurring financial income | 75 | €178,059 | €82,890 | -€95,169 | -53.4% |
| Financial charges | 65/66B | €49,050 | €48,767 | -€283 | -0.6% |
| Recurring financial charges | 65 | €49,050 | €48,767 | -€283 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €179,920 | €78,478 | -€101,442 | -56.4% |
| Income taxes | 67/77 | €17,035 | €7,692 | -€9,343 | -54.8% |
| Profit (loss) for the period | 9904 | €162,885 | €70,786 | -€92,099 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €162,885 | €70,786 | -€92,099 | -56.5% |
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 22 October 2026 via checked.be.