THE WING: what changed
Two fiscal 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.
What changed
THE WING
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.2m
2024 · -€487,696-€2.7m
Equity
-€3.5m
2024 · -€316,028-€3.2m
Cash
€29,984
2024 · €8,800+€21,184
Balance sheet total
€8.2m
2024 · €10.3m-€2.1m
Largest movements
Assets
- Financial fixed assets -€2.1m
down €2.1m (-20.2%), from €10.3m to €8.2m
Equity and liabilities
- Profit (loss) carried forward -€3.2m
down €3.2m (-177.2%), from -€1.8m to -€5.0m
- Debts after one year +€1.1m
up €1.1m (+20.0%), from €5.6m to €6.7m
Income statement
- Financial charges +€2.7m
up €2.7m (+557.4%), from €491,627 to €3.2m
of which Non-recurring financial charges: +€2.8m
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.
Result 2024
-€487,696
Other operating charges
+€951
Other operating items
-€4,656
Financial income
+€14,550
Financial charges
-€2.7m
Result 2025
-€3.2m
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.
From operations
-€3.2m
Investment
+€2.1m
Financing
+€1.1m
Cash 2024
€8,800
From operations (derived)
-€3.2m
Net result for the year
-€3.2m
Trade debts
+€30,477
Accrued charges and deferred income
+€14,266
Investment (derived)
+€2.1m
Investment in fixed assets (net)
+€2.1m
Financing
+€1.1m
Debts after one year
+€1.1m
Cash 2025
€29,984
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,292,722 | €8,238,212 | -€2.1m | -20.0% |
| Fixed assets | 21/28 | €10,283,922 | €8,208,228 | -€2.1m | -20.2% |
| Financial fixed assets | 28 | €10,283,922 | €8,208,228 | -€2.1m | -20.2% |
| Affiliated companies | 280/1 | €10,283,922 | €8,208,228 | -€2.1m | -20.2% |
| Participating interests | 280 | €8,994,418 | €6,194,418 | -€2.8m | -31.1% |
| Amounts receivable | 281 | €1,289,504 | €2,013,810 | +€724,306 | +56.2% |
| Current assets | 29/58 | €8,800 | €29,984 | +€21,184 | +240.7% |
| Cash at bank and in hand | 54/58 | €8,800 | €29,984 | +€21,184 | +240.7% |
| Total equity and liabilities | 10/49 | €10,292,722 | €8,238,212 | -€2.1m | -20.0% |
| Equity | 10/15 | -€316,028 | -€3,533,391 | -€3.2m | -1018.1% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,816,028 | -€5,033,391 | -€3.2m | -177.2% |
| Amounts payable | 17/49 | €10,608,750 | €11,771,603 | +€1.2m | +11.0% |
| Amounts payable after more than one year | 17 | €5,594,498 | €6,712,608 | +€1.1m | +20.0% |
| Financial debts | 170/4 | €5,594,498 | €6,712,608 | +€1.1m | +20.0% |
| Subordinated loans | 170 | €4,150,000 | €4,150,000 | = | 0.0% |
| Other loans | 174 | €1,444,498 | €2,562,608 | +€1.1m | +77.4% |
| Amounts payable within one year | 42/48 | €5,011,741 | €5,042,218 | +€30,477 | +0.6% |
| Financial debts | 43 | €5,000,000 | €5,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000,000 | €5,000,000 | = | 0.0% |
| Trade debts | 44 | €11,741 | €42,218 | +€30,477 | +259.6% |
| Suppliers | 440/4 | €11,741 | €42,218 | +€30,477 | +259.6% |
| Accrued charges and deferred income | 492/3 | €2,511 | €16,777 | +€14,266 | +568.2% |
| Operating charges | 60/66A | €43,825 | €47,531 | +€3,706 | +8.5% |
| Services and other goods | 61 | €41,876 | €46,533 | +€4,656 | +11.1% |
| Other operating charges | 640/8 | €1,949 | €998 | -€951 | -48.8% |
| Operating profit (loss) | 9901 | -€43,825 | -€47,531 | -€3,706 | -8.5% |
| Financial income | 75/76B | €47,756 | €62,306 | +€14,550 | +30.5% |
| Recurring financial income | 75 | €47,756 | €62,306 | +€14,550 | +30.5% |
| Income from financial fixed assets | 750 | €47,756 | €62,306 | +€14,550 | +30.5% |
| Financial charges | 65/66B | €491,627 | €3,232,138 | +€2.7m | +557.4% |
| Recurring financial charges | 65 | €491,627 | €432,138 | -€59,489 | -12.1% |
| Debt charges | 650 | €489,566 | €430,093 | -€59,472 | -12.1% |
| Other financial charges | 652/9 | €2,061 | €2,044 | -€16 | -0.8% |
| Non-recurring financial charges | 66B | - | €2,800,000 | +€2.8m | |
| Profit (loss) for the period before taxes | 9903 | -€487,696 | -€3,217,363 | -€2.7m | -559.7% |
| Profit (loss) for the period | 9904 | -€487,696 | -€3,217,363 | -€2.7m | -559.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€487,696 | -€3,217,363 | -€2.7m | -559.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.