KD - WINGS: 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.
KD - WINGS
Largest movements
- Tangible fixed assets +€426,183
up €426,183 (+44.6%), from €956,207 to €1.4m
of which Furniture and vehicles: +€428,055
- Cash +€109,823
up €109,823 (+92.1%), from €119,226 to €229,049
mainly Net result for the year (+€500,058) and Depreciation (+€207,535)
- Receivables within one year +€52,089
up €52,089 (+12.6%), from €412,845 to €464,933
of which Trade receivables: +€94,805
- Profit (loss) carried forward +€455,617
up €455,617 (+105%), from €435,581 to €891,198
- Reserves -€184,424
down €184,424 (-99.0%), from €186,284 to €1,860
- Other debts +€117,444
up €117,444 (+367%), from €32,024 to €149,468
- Trade debts +€90,709
up €90,709 (+606%), from €14,978 to €105,687
- Current portion of long-term debt +€72,801
up €72,801 (+51.7%), from €140,712 to €213,513
- Gross operating margin +€1.2m
up €1.2m (+78.6%), from €1.5m to €2.7m
- Staff costs +€618,549
up €618,549 (+61.5%), from €1.0m to €1.6m
- Taxes +€112,276
up €112,276 (+169%), from €66,449 to €178,725
- Depreciation +€90,342
up €90,342 (+77.1%), from €117,193 to €207,535
- Other operating charges +€49,010
up €49,010 (+63.2%), from €77,553 to €126,563
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 | €1,537,162 | €2,121,470 | +€584,307 | +38.0% |
| Fixed assets | 21/28 | €971,707 | €1,407,925 | +€436,218 | +44.9% |
| Intangible fixed assets | 21 | €0 | €7,036 | +€7,036 | |
| Tangible fixed assets | 22/27 | €956,207 | €1,382,390 | +€426,183 | +44.6% |
| Land and buildings | 22 | €610,499 | €603,366 | -€7,134 | -1.2% |
| Plant, machinery and equipment | 23 | €2,676 | €8,436 | +€5,760 | +215% |
| Furniture and vehicles | 24 | €341,036 | €769,092 | +€428,055 | +126% |
| Other tangible fixed assets | 26 | €1,996 | €1,497 | -€499 | -25.0% |
| Financial fixed assets | 28 | €15,500 | €18,500 | +€3,000 | +19.4% |
| Current assets | 29/58 | €565,455 | €713,544 | +€148,089 | +26.2% |
| Stocks and contracts in progress | 3 | €17,405 | €2,450 | -€14,955 | -85.9% |
| Contracts in progress | 37 | €17,405 | €2,450 | -€14,955 | -85.9% |
| Amounts receivable within one year | 40/41 | €412,845 | €464,933 | +€52,089 | +12.6% |
| Trade receivables | 40 | €355,643 | €450,448 | +€94,805 | +26.7% |
| Other amounts receivable | 41 | €57,201 | €14,485 | -€42,716 | -74.7% |
| Cash at bank and in hand | 54/58 | €119,226 | €229,049 | +€109,823 | +92.1% |
| Deferred charges and accrued income | 490/1 | €15,980 | €17,112 | +€1,132 | +7.1% |
| Total equity and liabilities | 10/49 | €1,537,162 | €2,121,470 | +€584,307 | +38.0% |
| Equity | 10/15 | €640,465 | €911,658 | +€271,193 | +42.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €186,284 | €1,860 | -€184,424 | -99.0% |
| Distributable reserves | 133 | €186,284 | €1,860 | -€184,424 | -99.0% |
| Profit (loss) carried forward | 14 | €435,581 | €891,198 | +€455,617 | +105% |
| Amounts payable | 17/49 | €896,698 | €1,209,812 | +€313,114 | +34.9% |
| Amounts payable after more than one year | 17 | €489,203 | €532,508 | +€43,305 | +8.9% |
| Financial debts | 170/4 | €485,603 | €528,908 | +€43,305 | +8.9% |
| Other amounts payable | 178/9 | €3,600 | €3,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €407,495 | €676,755 | +€269,260 | +66.1% |
| Current portion of amounts payable after more than one year | 42 | €140,712 | €213,513 | +€72,801 | +51.7% |
| Trade debts | 44 | €14,978 | €105,687 | +€90,709 | +606% |
| Suppliers | 440/4 | €14,978 | €105,687 | +€90,709 | +606% |
| Taxes, remuneration and social security | 45 | €219,781 | €208,087 | -€11,694 | -5.3% |
| Taxes | 450/3 | €50,767 | €34,916 | -€15,851 | -31.2% |
| Remuneration and social security | 454/9 | €169,014 | €173,171 | +€4,157 | +2.5% |
| Other amounts payable | 47/48 | €32,024 | €149,468 | +€117,444 | +367% |
| Accrued charges and deferred income | 492/3 | - | €548 | +€548 | |
| Remuneration, social security and pensions | 62 | €1,006,014 | €1,624,564 | +€618,549 | +61.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,193 | €207,535 | +€90,342 | +77.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,950 | - | -€16,950 | |
| Other operating charges | 640/8 | €77,553 | €126,563 | +€49,010 | +63.2% |
| Gross operating margin | 9900 | €1,492,211 | €2,665,805 | +€1.2m | +78.6% |
| Operating profit (loss) | 9901 | €274,501 | €707,143 | +€432,642 | +158% |
| Financial income | 75/76B | €85 | €1,497 | +€1,412 | +1,662% |
| Recurring financial income | 75 | €85 | €1,497 | +€1,412 | +1,662% |
| Financial charges | 65/66B | €23,012 | €29,858 | +€6,845 | +29.7% |
| Recurring financial charges | 65 | €23,012 | €29,858 | +€6,845 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €251,574 | €678,783 | +€427,209 | +170% |
| Income taxes | 67/77 | €66,449 | €178,725 | +€112,276 | +169% |
| Profit (loss) for the period | 9904 | €185,125 | €500,058 | +€314,933 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €185,125 | €500,058 | +€314,933 | +170% |
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 13 October 2026 via checked.be.