BIRDWING MANAGEMENT: 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.
BIRDWING MANAGEMENT
Largest movements
- Tangible fixed assets -€2,711
down €2,711 (-8.0%), from €33,997 to €31,286
of which Other tangible fixed assets: -€3,354
- Receivables within one year -€1,215
down €1,215 (-8.2%), from €14,798 to €13,583
of which Trade receivables: -€992
- Cash -€728
down €728 (-20.4%), from €3,570 to €2,842
mainly Other debts (-€6,610) and Tax, wage and social debts (-€3,944)
- Trade debts +€13,008
up €13,008 (+657.6%), from €1,978 to €14,987
- Other debts -€6,610
down €6,610 (-96.5%), from €6,850 to €240
- Tax, wage and social debts -€3,944
down €3,944 (-27.3%), from €14,468 to €10,524
of which Taxes: -€2,444
- Profit (loss) carried forward -€3,348
new in 2025: -€3,348
- Debts after one year -€2,691
down €2,691 (-17.5%), from €15,387 to €12,696
- Gross operating margin -€12,194
down €12,194 (-62.5%), from €19,512 to €7,318
- Other operating charges -€1,180
down €1,180 (-86.4%), from €1,365 to €186
- Depreciation +€819
up €819 (+17.7%), from €4,625 to €5,444
- Taxes -€501
down €501 (-10.8%), from €4,651 to €4,150
- Financial charges -€346
down €346 (-28.1%), from €1,233 to €887
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 | €52,364 | €47,712 | -€4,652 | -8.9% |
| Fixed assets | 21/28 | €33,997 | €31,288 | -€2,709 | -8.0% |
| Tangible fixed assets | 22/27 | €33,997 | €31,286 | -€2,711 | -8.0% |
| Plant, machinery and equipment | 23 | €4,360 | €2,503 | -€1,857 | -42.6% |
| Furniture and vehicles | 24 | - | €2,501 | +€2,501 | |
| Other tangible fixed assets | 26 | €29,637 | €26,283 | -€3,354 | -11.3% |
| Financial fixed assets | 28 | - | €2 | +€2 | |
| Current assets | 29/58 | €18,368 | €16,425 | -€1,943 | -10.6% |
| Amounts receivable within one year | 40/41 | €14,798 | €13,583 | -€1,215 | -8.2% |
| Trade receivables | 40 | €14,574 | €13,583 | -€992 | -6.8% |
| Other amounts receivable | 41 | €224 | €0 | -€224 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,570 | €2,842 | -€728 | -20.4% |
| Total equity and liabilities | 10/49 | €52,364 | €47,712 | -€4,652 | -8.9% |
| Equity | 10/15 | €8,639 | €5,292 | -€3,348 | -38.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €7,639 | €7,639 | = | 0.0% |
| Distributable reserves | 133 | €7,639 | €7,639 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,348 | -€3,348 | |
| Amounts payable | 17/49 | €43,725 | €42,420 | -€1,305 | -3.0% |
| Amounts payable after more than one year | 17 | €15,387 | €12,696 | -€2,691 | -17.5% |
| Financial debts | 170/4 | €15,387 | €12,696 | -€2,691 | -17.5% |
| Amounts payable within one year | 42/48 | €28,339 | €29,725 | +€1,386 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €2,566 | €2,691 | +€125 | +4.9% |
| Financial debts | 43 | €2,476 | €1,283 | -€1,193 | -48.2% |
| Credit institutions | 430/8 | €2,476 | €1,283 | -€1,193 | -48.2% |
| Trade debts | 44 | €1,978 | €14,987 | +€13,008 | +657.6% |
| Suppliers | 440/4 | €1,978 | €14,987 | +€13,008 | +657.6% |
| Taxes, remuneration and social security | 45 | €14,468 | €10,524 | -€3,944 | -27.3% |
| Taxes | 450/3 | €12,968 | €10,524 | -€2,444 | -18.8% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100.0% |
| Other amounts payable | 47/48 | €6,850 | €240 | -€6,610 | -96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,625 | €5,444 | +€819 | +17.7% |
| Other operating charges | 640/8 | €1,365 | €186 | -€1,180 | -86.4% |
| Gross operating margin | 9900 | €19,512 | €7,318 | -€12,194 | -62.5% |
| Operating profit (loss) | 9901 | €13,522 | €1,689 | -€11,834 | -87.5% |
| Financial income | 75/76B | €1 | €1 | -€0 | -9.8% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -9.8% |
| Financial charges | 65/66B | €1,233 | €887 | -€346 | -28.1% |
| Recurring financial charges | 65 | €1,233 | €887 | -€346 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €12,290 | €802 | -€11,488 | -93.5% |
| Income taxes | 67/77 | €4,651 | €4,150 | -€501 | -10.8% |
| Profit (loss) for the period | 9904 | €7,639 | -€3,348 | -€10,987 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,639 | -€3,348 | -€10,987 |
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 10 October 2026 via checked.be.