EWINGS: 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.
EWINGS
Largest movements
- Receivables within one year +€74,074
up €74,074 (+8.5%), from €868,828 to €942,902
of which Other amounts receivable: +€81,153
- Cash +€67,500
up €67,500 (+162%), from €41,543 to €109,042
mainly Net result for the year (+€126,157) and Trade debts (+€43,486)
- Stocks and contracts -€14,099
no longer reported in 2025 (was €14,099)
- Reserves +€76,100
up €76,100 (+17.0%), from €447,600 to €523,700
of which Tax-exempt reserves: +€42,100
- Trade debts +€43,486
up €43,486 (+25.6%), from €170,033 to €213,519
- Tax, wage and social debts +€27,922
up €27,922 (+15.1%), from €184,992 to €212,913
of which Remuneration and social security: +€34,211
- Accrued charges and deferred income -€20,992
down €20,992 (-51.5%), from €40,728 to €19,736
- Advances received +€11,148
new in 2025: €11,148
- Turnover +€363,598
up €363,598 (+15.0%), from €2.4m to €2.8m
- Staff costs +€329,930
up €329,930 (+35.2%), from €937,368 to €1.3m
- Gross operating margin +€303,467
up €303,467 (+24.8%), from €1.2m to €1.5m
- Purchases and services +€144,159
up €144,159 (+12.8%), from €1.1m to €1.3m
- Write-downs +€44,402
up €44,402 (+341%), from €13,021 to €57,422
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 | €963,681 | €1,103,960 | +€140,280 | +14.6% |
| Fixed assets | 21/28 | €19,450 | €25,491 | +€6,041 | +31.1% |
| Tangible fixed assets | 22/27 | €19,450 | €25,491 | +€6,041 | +31.1% |
| Plant, machinery and equipment | 23 | €19,450 | €25,491 | +€6,041 | +31.1% |
| Current assets | 29/58 | €944,231 | €1,078,469 | +€134,238 | +14.2% |
| Stocks and contracts in progress | 3 | €14,099 | - | -€14,099 | |
| Contracts in progress | 37 | €14,099 | - | -€14,099 | |
| Amounts receivable within one year | 40/41 | €868,828 | €942,902 | +€74,074 | +8.5% |
| Trade receivables | 40 | €505,433 | €498,354 | -€7,079 | -1.4% |
| Other amounts receivable | 41 | €363,395 | €444,548 | +€81,153 | +22.3% |
| Cash at bank and in hand | 54/58 | €41,543 | €109,042 | +€67,500 | +162% |
| Deferred charges and accrued income | 490/1 | €19,761 | €26,524 | +€6,763 | +34.2% |
| Total equity and liabilities | 10/49 | €963,681 | €1,103,960 | +€140,280 | +14.6% |
| Equity | 10/15 | €510,329 | €586,486 | +€76,157 | +14.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €447,600 | €523,700 | +€76,100 | +17.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | €441,400 | €475,400 | +€34,000 | +7.7% |
| Profit (loss) carried forward | 14 | €729 | €786 | +€57 | +7.8% |
| Provisions and deferred taxes | 16 | - | €159 | +€159 | |
| Provisions for liabilities and charges | 160/5 | - | €159 | +€159 | |
| Pensions and similar obligations | 160 | - | €159 | +€159 | |
| Amounts payable | 17/49 | €453,352 | €517,316 | +€63,964 | +14.1% |
| Amounts payable within one year | 42/48 | €412,624 | €497,580 | +€84,956 | +20.6% |
| Trade debts | 44 | €170,033 | €213,519 | +€43,486 | +25.6% |
| Suppliers | 440/4 | €170,033 | €213,519 | +€43,486 | +25.6% |
| Advances received on contracts in progress | 46 | - | €11,148 | +€11,148 | |
| Taxes, remuneration and social security | 45 | €184,992 | €212,913 | +€27,922 | +15.1% |
| Taxes | 450/3 | €77,620 | €71,332 | -€6,289 | -8.1% |
| Remuneration and social security | 454/9 | €107,371 | €141,582 | +€34,211 | +31.9% |
| Other amounts payable | 47/48 | €57,600 | €60,000 | +€2,400 | +4.2% |
| Accrued charges and deferred income | 492/3 | €40,728 | €19,736 | -€20,992 | -51.5% |
| Turnover | 70 | €2,427,855 | €2,791,453 | +€363,598 | +15.0% |
| Non-recurring operating income | 76A | - | €35 | +€35 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,124,202 | €1,268,360 | +€144,159 | +12.8% |
| Remuneration, social security and pensions | 62 | €937,368 | €1,267,299 | +€329,930 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,282 | €12,646 | +€4,364 | +52.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,021 | €57,422 | +€44,402 | +341% |
| Other operating charges | 640/8 | €3,310 | €11,778 | +€8,468 | +256% |
| Gross operating margin | 9900 | €1,226,018 | €1,529,485 | +€303,467 | +24.8% |
| Operating profit (loss) | 9901 | €264,037 | €180,339 | -€83,698 | -31.7% |
| Financial income | 75/76B | €9,817 | €8,722 | -€1,096 | -11.2% |
| Recurring financial income | 75 | €9,817 | €8,722 | -€1,096 | -11.2% |
| Financial charges | 65/66B | €12,134 | €23,915 | +€11,781 | +97.1% |
| Recurring financial charges | 65 | €12,134 | €23,915 | +€11,781 | +97.1% |
| Profit (loss) for the period before taxes | 9903 | €261,720 | €165,145 | -€96,575 | -36.9% |
| Income taxes | 67/77 | €7,266 | €38,988 | +€31,722 | +437% |
| Profit (loss) for the period | 9904 | €254,454 | €126,157 | -€128,297 | -50.4% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €254,454 | €84,057 | -€170,397 | -67.0% |
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 16 October 2026 via checked.be.