WINGEST: 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.
WINGEST
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+74.4%), from €1.7m to €2.9m
of which Land and buildings: +€1.2m
- Cash -€103,370
down €103,370 (-83.0%), from €124,551 to €21,182
mainly Investment in fixed assets (net) (-€1.3m) and Tax, wage and social debts (-€29,808)
- Investment grants +€865,175
up €865,175 (+144%), from €601,515 to €1.5m
- Trade debts +€142,214
up €142,214 (+214%), from €66,380 to €208,594
- Other debts +€100,000
up €100,000 (+15.1%), from €660,084 to €760,084
- Profit (loss) carried forward +€82,040
up €82,040 (+28.4%), from -€288,857 to -€206,817
- Gross operating margin +€128,671
up €128,671 (+195%), from €66,012 to €194,683
- Staff costs -€49,470
down €49,470 (-35.7%), from €138,764 to €89,294
- Depreciation -€9,671
down €9,671 (-25.3%), from €38,244 to €28,573
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 | €2,247,175 | €3,372,015 | +€1.1m | +50.1% |
| Fixed assets | 21/28 | €1,984,598 | €3,216,199 | +€1.2m | +62.1% |
| Intangible fixed assets | 21 | €323,367 | €319,541 | -€3,826 | -1.2% |
| Tangible fixed assets | 22/27 | €1,661,231 | €2,896,657 | +€1.2m | +74.4% |
| Land and buildings | 22 | €1,661,231 | €2,894,161 | +€1.2m | +74.2% |
| Plant, machinery and equipment | 23 | - | €2,496 | +€2,496 | |
| Current assets | 29/58 | €262,577 | €155,816 | -€106,761 | -40.7% |
| Amounts receivable within one year | 40/41 | €90,026 | €117,825 | +€27,799 | +30.9% |
| Trade receivables | 40 | €58,080 | €54,450 | -€3,630 | -6.3% |
| Other amounts receivable | 41 | €31,946 | €63,375 | +€31,429 | +98.4% |
| Cash at bank and in hand | 54/58 | €124,551 | €21,182 | -€103,370 | -83.0% |
| Deferred charges and accrued income | 490/1 | €48,000 | €16,810 | -€31,190 | -65.0% |
| Total equity and liabilities | 10/49 | €2,247,175 | €3,372,015 | +€1.1m | +50.1% |
| Equity | 10/15 | €1,184,472 | €2,126,211 | +€941,739 | +79.5% |
| Contributions | 10/11 | €12,469 | €12,469 | = | 0.0% |
| Reserves | 13 | €859,345 | €853,869 | -€5,476 | -0.6% |
| Non-distributable reserves | 130/1 | €6,131 | €6,131 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,131 | €6,131 | = | 0.0% |
| Tax-exempt reserves | 132 | €813,215 | €807,738 | -€5,476 | -0.7% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€288,857 | -€206,817 | +€82,040 | +28.4% |
| Investment grants | 15 | €601,515 | €1,466,690 | +€865,175 | +144% |
| Provisions and deferred taxes | 16 | €271,072 | €269,247 | -€1,825 | -0.7% |
| Deferred taxes | 168 | €271,072 | €269,247 | -€1,825 | -0.7% |
| Amounts payable | 17/49 | €791,630 | €976,557 | +€184,927 | +23.4% |
| Amounts payable within one year | 42/48 | €763,397 | €975,803 | +€212,406 | +27.8% |
| Trade debts | 44 | €66,380 | €208,594 | +€142,214 | +214% |
| Suppliers | 440/4 | €66,380 | €208,594 | +€142,214 | +214% |
| Taxes, remuneration and social security | 45 | €36,933 | €7,125 | -€29,808 | -80.7% |
| Taxes | 450/3 | €9,699 | - | -€9,699 | |
| Remuneration and social security | 454/9 | €27,234 | €7,125 | -€20,109 | -73.8% |
| Other amounts payable | 47/48 | €660,084 | €760,084 | +€100,000 | +15.1% |
| Accrued charges and deferred income | 492/3 | €28,233 | €754 | -€27,479 | -97.3% |
| Remuneration, social security and pensions | 62 | €138,764 | €89,294 | -€49,470 | -35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,244 | €28,573 | -€9,671 | -25.3% |
| Other operating charges | 640/8 | €1,636 | €1,981 | +€345 | +21.1% |
| Gross operating margin | 9900 | €66,012 | €194,683 | +€128,671 | +195% |
| Operating profit (loss) | 9901 | -€112,632 | €74,835 | +€187,467 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,722 | €97 | -€1,625 | -94.4% |
| Recurring financial charges | 65 | €1,722 | €97 | -€1,625 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | -€114,354 | €74,738 | +€189,092 | |
| Transfer from deferred taxes | 780 | €1,825 | €1,825 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€112,528 | €76,563 | +€189,092 | |
| Transfer from tax-exempt reserves | 789 | €5,476 | €5,476 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€107,052 | €82,040 | +€189,092 |
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 14 October 2026 via checked.be.