WINGS ESTATE: 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.
WINGS ESTATE
Largest movements
- Tangible fixed assets -€249,472
down €249,472 (-37.0%), from €674,989 to €425,517
of which Land and buildings: -€290,625
- Receivables within one year -€131,154
down €131,154 (-95.6%), from €137,198 to €6,044
of which Trade receivables: -€117,608
- Cash +€11,018
up €11,018 (+125%), from €8,843 to €19,861
mainly Investment in fixed assets (net) (+€216,758) and Receivables within one year (+€131,154)
- Profit (loss) carried forward -€137,447
down €137,447 (-114%), from -€120,580 to -€258,027
- Debts after one year -€83,677
down €83,677 (-28.2%), from €296,617 to €212,940
of which Financial debts: -€83,677
- Trade debts -€78,969
down €78,969 (-85.7%), from €92,158 to €13,189
- Other debts -€68,599
down €68,599 (-12.6%), from €545,752 to €477,153
- Other operating charges +€72,401
up €72,401, from €0 to €72,401
- Gross operating margin -€19,885
down €19,885, from €2,046 to -€17,839
- Depreciation -€2,991
down €2,991 (-8.4%), from €35,705 to €32,714
- Financial charges +€554
up €554 (+4.0%), from €13,939 to €14,493
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 | €821,030 | €452,487 | -€368,543 | -44.9% |
| Fixed assets | 21/28 | €674,989 | €425,517 | -€249,472 | -37.0% |
| Tangible fixed assets | 22/27 | €674,989 | €425,517 | -€249,472 | -37.0% |
| Land and buildings | 22 | €420,265 | €129,639 | -€290,625 | -69.2% |
| Plant, machinery and equipment | 23 | €254,219 | €293,909 | +€39,690 | +15.6% |
| Furniture and vehicles | 24 | €506 | €1,968 | +€1,463 | +289% |
| Current assets | 29/58 | €146,041 | €26,970 | -€119,071 | -81.5% |
| Amounts receivable within one year | 40/41 | €137,198 | €6,044 | -€131,154 | -95.6% |
| Trade receivables | 40 | €122,781 | €5,173 | -€117,608 | -95.8% |
| Other amounts receivable | 41 | €14,417 | €871 | -€13,546 | -94.0% |
| Cash at bank and in hand | 54/58 | €8,843 | €19,861 | +€11,018 | +125% |
| Deferred charges and accrued income | 490/1 | - | €1,065 | +€1,065 | |
| Total equity and liabilities | 10/49 | €821,030 | €452,487 | -€368,543 | -44.9% |
| Equity | 10/15 | -€118,080 | -€255,527 | -€137,447 | -116% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,580 | -€258,027 | -€137,447 | -114% |
| Amounts payable | 17/49 | €939,110 | €708,014 | -€231,096 | -24.6% |
| Amounts payable after more than one year | 17 | €296,617 | €212,940 | -€83,677 | -28.2% |
| Financial debts | 170/4 | €295,417 | €211,740 | -€83,677 | -28.3% |
| Other amounts payable | 178/9 | €1,200 | €1,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €642,493 | €495,074 | -€147,419 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €4,583 | €4,733 | +€150 | +3.3% |
| Trade debts | 44 | €92,158 | €13,189 | -€78,969 | -85.7% |
| Suppliers | 440/4 | €92,158 | €13,189 | -€78,969 | -85.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €545,752 | €477,153 | -€68,599 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,705 | €32,714 | -€2,991 | -8.4% |
| Other operating charges | 640/8 | €0 | €72,401 | +€72,401 | |
| Gross operating margin | 9900 | €2,046 | -€17,839 | -€19,885 | |
| Operating profit (loss) | 9901 | -€33,659 | -€122,954 | -€89,295 | -265% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €13,939 | €14,493 | +€554 | +4.0% |
| Recurring financial charges | 65 | €13,939 | €14,493 | +€554 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€47,598 | -€137,447 | -€89,849 | -189% |
| Profit (loss) for the period | 9904 | -€47,598 | -€137,447 | -€89,849 | -189% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,598 | -€137,447 | -€89,849 | -189% |
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 28 October 2026 via checked.be.