V-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.
V-WINGS
Largest movements
- Cash -€4,387
down €4,387 (-60.6%), from €7,244 to €2,857
mainly Tax, wage and social debts (-€2,969) and Net result for the year (-€1,741)
- Tangible fixed assets -€1,385
no longer reported in 2025 (was €1,385)
- Receivables within one year +€917
up €917 (+429%), from €214 to €1,131
of which Other amounts receivable: +€590
- Tax, wage and social debts -€2,969
no longer reported in 2025 (was €2,969)
- Profit (loss) carried forward -€1,740
down €1,740 (-106%), from -€1,645 to -€3,385
- Other debts -€285
no longer reported in 2025 (was €285)
- Trade debts +€138
up €138 (+58.7%), from €235 to €373
- Gross operating margin -€17,457
down €17,457, from €17,414 to -€43
- Taxes -€2,745
down €2,745 (-97.9%), from €2,804 to €59
- Depreciation -€850
no longer reported in 2025 (was €850)
- Other operating charges +€731
up €731 (+140%), from €523 to €1,254
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 | €8,844 | €3,988 | -€4,856 | -54.9% |
| Fixed assets | 21/28 | €1,385 | - | -€1,385 | |
| Tangible fixed assets | 22/27 | €1,385 | - | -€1,385 | |
| Land and buildings | 22 | €371 | - | -€371 | |
| Plant, machinery and equipment | 23 | €642 | - | -€642 | |
| Furniture and vehicles | 24 | €372 | - | -€372 | |
| Current assets | 29/58 | €7,459 | €3,988 | -€3,471 | -46.5% |
| Amounts receivable within one year | 40/41 | €214 | €1,131 | +€917 | +429% |
| Trade receivables | 40 | - | €327 | +€327 | |
| Other amounts receivable | 41 | €214 | €804 | +€590 | +276% |
| Cash at bank and in hand | 54/58 | €7,244 | €2,857 | -€4,387 | -60.6% |
| Deferred charges and accrued income | 490/1 | €1 | - | -€1 | |
| Total equity and liabilities | 10/49 | €8,844 | €3,988 | -€4,856 | -54.9% |
| Equity | 10/15 | €5,355 | €3,615 | -€1,740 | -32.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,645 | -€3,385 | -€1,740 | -106% |
| Amounts payable | 17/49 | €3,489 | €373 | -€3,116 | -89.3% |
| Amounts payable within one year | 42/48 | €3,489 | €373 | -€3,116 | -89.3% |
| Trade debts | 44 | €235 | €373 | +€138 | +58.7% |
| Suppliers | 440/4 | €235 | €373 | +€138 | +58.7% |
| Taxes, remuneration and social security | 45 | €2,969 | - | -€2,969 | |
| Taxes | 450/3 | €2,969 | - | -€2,969 | |
| Other amounts payable | 47/48 | €285 | - | -€285 | |
| Remuneration, social security and pensions | 62 | €200 | €235 | +€35 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €850 | - | -€850 | |
| Other operating charges | 640/8 | €523 | €1,254 | +€731 | +140% |
| Gross operating margin | 9900 | €17,414 | -€43 | -€17,457 | |
| Operating profit (loss) | 9901 | €15,841 | -€1,532 | -€17,373 | |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €188 | €168 | -€20 | -10.6% |
| Recurring financial charges | 65 | €188 | €168 | -€20 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €15,653 | -€1,682 | -€17,335 | |
| Income taxes | 67/77 | €2,804 | €59 | -€2,745 | -97.9% |
| Profit (loss) for the period | 9904 | €12,849 | -€1,741 | -€14,590 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,849 | -€1,741 | -€14,590 |
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 17 October 2026 via checked.be.