MWingz: 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.
MWingz
Largest movements
- Intangible fixed assets +€1.5m
up €1.5m (+152%), from €987,697 to €2.5m
- Cash -€226,289
down €226,289 (-29.4%), from €770,984 to €544,695
mainly Investment in fixed assets (net) (-€2.3m) and Contributions, distributions and other (-€2.0m)
- Receivables within one year -€168,819
down €168,819 (-1.4%), from €12.3m to €12.1m
of which Other amounts receivable: -€468,260
- Trade debts +€547,519
up €547,519 (+9.3%), from €5.9m to €6.5m
- Tax, wage and social debts +€317,159
up €317,159 (+7.7%), from €4.1m to €4.4m
of which Remuneration and social security: +€264,451
- Other debts +€227,208
up €227,208 (+12.9%), from €1.8m to €2.0m
- Staff costs +€1.2m
up €1.2m (+8.7%), from €14.1m to €15.3m
- Other operating income +€463,607
up €463,607 (+1.1%), from €43.1m to €43.6m
- Taxes -€263,515
down €263,515 (-28.2%), from €934,164 to €670,649
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 | €14,964,105 | €16,056,737 | +€1.1m | +7.3% |
| Fixed assets | 21/28 | €1,494,856 | €2,910,187 | +€1.4m | +94.7% |
| Intangible fixed assets | 21 | €987,697 | €2,490,508 | +€1.5m | +152% |
| Tangible fixed assets | 22/27 | €507,159 | €419,679 | -€87,480 | -17.2% |
| Plant, machinery and equipment | 23 | €507,159 | €419,679 | -€87,480 | -17.2% |
| Current assets | 29/58 | €13,469,249 | €13,146,549 | -€322,700 | -2.4% |
| Amounts receivable within one year | 40/41 | €12,256,739 | €12,087,920 | -€168,819 | -1.4% |
| Trade receivables | 40 | €3,435,933 | €3,735,374 | +€299,441 | +8.7% |
| Other amounts receivable | 41 | €8,820,806 | €8,352,546 | -€468,260 | -5.3% |
| Cash at bank and in hand | 54/58 | €770,984 | €544,695 | -€226,289 | -29.4% |
| Deferred charges and accrued income | 490/1 | €441,526 | €513,934 | +€72,408 | +16.4% |
| Total equity and liabilities | 10/49 | €14,964,105 | €16,056,737 | +€1.1m | +7.3% |
| Equity | 10/15 | €3,200,000 | €3,200,000 | = | 0.0% |
| Contributions | 10/11 | €3,200,000 | €3,200,000 | = | 0.0% |
| Amounts payable | 17/49 | €11,764,105 | €12,856,737 | +€1.1m | +9.3% |
| Amounts payable within one year | 42/48 | €11,764,105 | €12,855,990 | +€1.1m | +9.3% |
| Trade debts | 44 | €5,911,146 | €6,458,665 | +€547,519 | +9.3% |
| Suppliers | 440/4 | €5,911,146 | €6,458,665 | +€547,519 | +9.3% |
| Taxes, remuneration and social security | 45 | €4,094,483 | €4,411,642 | +€317,159 | +7.7% |
| Taxes | 450/3 | €562,506 | €615,214 | +€52,708 | +9.4% |
| Remuneration and social security | 454/9 | €3,531,977 | €3,796,428 | +€264,451 | +7.5% |
| Other amounts payable | 47/48 | €1,758,475 | €1,985,683 | +€227,208 | +12.9% |
| Accrued charges and deferred income | 492/3 | - | €746 | +€746 | |
| Operating income | 70/76A | €43,086,671 | €44,320,477 | +€1.2m | +2.9% |
| Own construction capitalised | 72 | - | €770,200 | +€770,200 | |
| Other operating income | 74 | €43,086,671 | €43,550,278 | +€463,607 | +1.1% |
| Operating charges | 60/66A | €40,563,562 | €41,760,722 | +€1.2m | +3.0% |
| Services and other goods | 61 | €25,697,498 | €25,579,004 | -€118,494 | -0.5% |
| Remuneration, social security and pensions | 62 | €14,071,576 | €15,292,930 | +€1.2m | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €794,186 | €888,788 | +€94,602 | +11.9% |
| Other operating charges | 640/8 | €303 | - | -€303 | |
| Operating profit (loss) | 9901 | €2,523,109 | €2,559,755 | +€36,646 | +1.5% |
| Recurring financial income | 75 | €207,224 | €129,731 | -€77,493 | -37.4% |
| Income from current assets | 751 | €207,224 | €129,545 | -€77,679 | -37.5% |
| Other financial income | 752/9 | - | €186 | +€186 | |
| Financial charges | 65/66B | €37,693 | €33,154 | -€4,539 | -12.0% |
| Recurring financial charges | 65 | €37,693 | €33,154 | -€4,539 | -12.0% |
| Other financial charges | 652/9 | €37,693 | €33,154 | -€4,539 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €2,692,639 | €2,656,332 | -€36,307 | -1.3% |
| Income taxes | 67/77 | €934,164 | €670,649 | -€263,515 | -28.2% |
| Taxes | 670/3 | €934,164 | €804,201 | -€129,963 | -13.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €133,552 | +€133,552 | |
| Profit (loss) for the period | 9904 | €1,758,475 | €1,985,683 | +€227,208 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,758,475 | €1,985,683 | +€227,208 | +12.9% |
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.