White 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.
White Wings
Largest movements
- Tangible fixed assets -€31,992
down €31,992 (-8.3%), from €387,367 to €355,375
of which Furniture and vehicles: -€23,101
- Receivables within one year +€12,122
up €12,122, from €0 to €12,122
of which Trade receivables: +€10,000
- Other debts -€43,530
down €43,530 (-19.2%), from €227,062 to €183,532
- Profit (loss) carried forward +€20,230
up €20,230 (+94.5%), from -€21,410 to -€1,181
- Gross operating margin +€44,631
up €44,631, from -€3,006 to €41,625
- Financial charges +€7,763
up €7,763 (+5353.7%), from €145 to €7,908
- Depreciation -€7,279
down €7,279 (-42.2%), from €17,238 to €9,959
- Other operating charges +€1,912
up €1,912 (+256.9%), from €744 to €2,657
- Taxes +€592
up €592 (+204.2%), from €290 to €881
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €391,660 | €370,793 | -€20,867 | -5.3% |
| Fixed assets | 21/28 | €387,367 | €355,375 | -€31,992 | -8.3% |
| Tangible fixed assets | 22/27 | €387,367 | €355,375 | -€31,992 | -8.3% |
| Land and buildings | 22 | €361,143 | €352,252 | -€8,891 | -2.5% |
| Furniture and vehicles | 24 | €26,224 | €3,123 | -€23,101 | -88.1% |
| Current assets | 29/58 | €4,293 | €15,417 | +€11,125 | +259.2% |
| Amounts receivable within one year | 40/41 | €0 | €12,122 | +€12,122 | |
| Trade receivables | 40 | €0 | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | - | €2,122 | +€2,122 | |
| Cash at bank and in hand | 54/58 | €3,224 | €3,296 | +€71 | +2.2% |
| Deferred charges and accrued income | 490/1 | €1,069 | €0 | -€1,069 | -100.0% |
| Total equity and liabilities | 10/49 | €391,660 | €370,793 | -€20,867 | -5.3% |
| Equity | 10/15 | €162,011 | €182,241 | +€20,230 | +12.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €133,422 | €133,422 | = | 0.0% |
| Distributable reserves | 133 | €133,422 | €133,422 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,410 | -€1,181 | +€20,230 | +94.5% |
| Amounts payable | 17/49 | €229,648 | €188,552 | -€41,097 | -17.9% |
| Amounts payable within one year | 42/48 | €229,648 | €188,363 | -€41,285 | -18.0% |
| Trade debts | 44 | €2,201 | €959 | -€1,243 | -56.5% |
| Suppliers | 440/4 | €2,201 | €959 | -€1,243 | -56.5% |
| Taxes, remuneration and social security | 45 | €385 | €3,872 | +€3,487 | +905.9% |
| Taxes | 450/3 | €385 | €3,872 | +€3,487 | +905.9% |
| Other amounts payable | 47/48 | €227,062 | €183,532 | -€43,530 | -19.2% |
| Accrued charges and deferred income | 492/3 | - | €189 | +€189 | |
| Non-recurring operating income | 76A | - | €592 | +€592 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,238 | €9,959 | -€7,279 | -42.2% |
| Other operating charges | 640/8 | €744 | €2,657 | +€1,912 | +256.9% |
| Gross operating margin | 9900 | -€3,006 | €41,625 | +€44,631 | |
| Operating profit (loss) | 9901 | -€20,989 | €29,008 | +€49,998 | |
| Financial income | 75/76B | €14 | €11 | -€3 | -19.8% |
| Recurring financial income | 75 | €14 | €11 | -€3 | -19.8% |
| Financial charges | 65/66B | €145 | €7,908 | +€7,763 | +5353.7% |
| Recurring financial charges | 65 | €145 | €7,908 | +€7,763 | +5353.7% |
| Profit (loss) for the period before taxes | 9903 | -€21,120 | €21,111 | +€42,231 | |
| Income taxes | 67/77 | €290 | €881 | +€592 | +204.2% |
| Profit (loss) for the period | 9904 | -€21,410 | €20,230 | +€41,640 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,410 | €20,230 | +€41,640 |
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 12 October 2026 via checked.be.