WINGS & WHEELS: 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 & WHEELS
Largest movements
- Stocks and contracts -€7,714
down €7,714 (-36.5%), from €21,150 to €13,435
- Receivables within one year -€5,667
down €5,667 (-26.5%), from €21,402 to €15,735
of which Trade receivables: -€7,332
- Tangible fixed assets +€3,238
up €3,238 (+22.5%), from €14,405 to €17,643
of which Plant, machinery and equipment: +€6,365
- Cash +€2,815
up €2,815 (+52.7%), from €5,341 to €8,156
mainly Stocks and contracts (+€7,714) and Depreciation (+€6,475)
- Deferred charges and accrued income +€2,417
up €2,417 (+175.7%), from €1,376 to €3,792
- Other debts -€4,000
down €4,000 (-82.8%), from €4,833 to €833
- Trade debts -€2,099
down €2,099 (-50.2%), from €4,185 to €2,086
- Debts after one year +€1,866
up €1,866 (+15.7%), from €11,854 to €13,719
- Reserves +€1,267
up €1,267 (+5.5%), from €22,979 to €24,246
of which Distributable reserves: +€1,267
- Tax, wage and social debts -€1,140
down €1,140 (-25.2%), from €4,515 to €3,375
- Gross operating margin -€3,028
down €3,028 (-21.8%), from €13,870 to €10,842
- Other operating charges -€1,303
down €1,303 (-56.7%), from €2,298 to €994
- Depreciation +€445
up €445 (+7.4%), from €6,029 to €6,475
- Financial charges +€278
up €278 (+25.4%), from €1,093 to €1,370
- Taxes +€199
up €199 (+36.7%), from €543 to €742
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 | €73,673 | €68,762 | -€4,911 | -6.7% |
| Fixed assets | 21/28 | €14,405 | €17,643 | +€3,238 | +22.5% |
| Tangible fixed assets | 22/27 | €14,405 | €17,643 | +€3,238 | +22.5% |
| Plant, machinery and equipment | 23 | €7,103 | €13,468 | +€6,365 | +89.6% |
| Furniture and vehicles | 24 | €7,302 | €4,175 | -€3,127 | -42.8% |
| Current assets | 29/58 | €59,268 | €51,119 | -€8,149 | -13.8% |
| Stocks and contracts in progress | 3 | €21,150 | €13,435 | -€7,714 | -36.5% |
| Stocks | 30/36 | €21,150 | €13,435 | -€7,714 | -36.5% |
| Amounts receivable within one year | 40/41 | €21,402 | €15,735 | -€5,667 | -26.5% |
| Trade receivables | 40 | €7,332 | €0 | -€7,332 | -100.0% |
| Other amounts receivable | 41 | €14,070 | €15,735 | +€1,666 | +11.8% |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,341 | €8,156 | +€2,815 | +52.7% |
| Deferred charges and accrued income | 490/1 | €1,376 | €3,792 | +€2,417 | +175.7% |
| Total equity and liabilities | 10/49 | €73,673 | €68,762 | -€4,911 | -6.7% |
| Equity | 10/15 | €41,579 | €42,846 | +€1,267 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,979 | €24,246 | +€1,267 | +5.5% |
| Non-distributable reserves | 130/1 | €11,860 | €11,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €11,119 | €12,386 | +€1,267 | +11.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €32,094 | €25,916 | -€6,178 | -19.2% |
| Amounts payable after more than one year | 17 | €11,854 | €13,719 | +€1,866 | +15.7% |
| Financial debts | 170/4 | €11,854 | €13,719 | +€1,866 | +15.7% |
| Amounts payable within one year | 42/48 | €20,240 | €11,986 | -€8,254 | -40.8% |
| Current portion of amounts payable after more than one year | 42 | €6,707 | €5,692 | -€1,015 | -15.1% |
| Trade debts | 44 | €4,185 | €2,086 | -€2,099 | -50.2% |
| Suppliers | 440/4 | €4,185 | €2,086 | -€2,099 | -50.2% |
| Taxes, remuneration and social security | 45 | €4,515 | €3,375 | -€1,140 | -25.2% |
| Taxes | 450/3 | €4,515 | €3,375 | -€1,140 | -25.2% |
| Other amounts payable | 47/48 | €4,833 | €833 | -€4,000 | -82.8% |
| Accrued charges and deferred income | 492/3 | - | €211 | +€211 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,029 | €6,475 | +€445 | +7.4% |
| Other operating charges | 640/8 | €2,298 | €994 | -€1,303 | -56.7% |
| Gross operating margin | 9900 | €13,870 | €10,842 | -€3,028 | -21.8% |
| Operating profit (loss) | 9901 | €5,543 | €3,373 | -€2,170 | -39.1% |
| Financial income | 75/76B | €715 | €839 | +€124 | +17.3% |
| Recurring financial income | 75 | €715 | €839 | +€124 | +17.3% |
| Financial charges | 65/66B | €1,093 | €1,370 | +€278 | +25.4% |
| Recurring financial charges | 65 | €1,093 | €1,370 | +€278 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €5,166 | €2,842 | -€2,324 | -45.0% |
| Income taxes | 67/77 | €543 | €742 | +€199 | +36.7% |
| Profit (loss) for the period | 9904 | €4,623 | €2,100 | -€2,523 | -54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,623 | €2,100 | -€2,523 | -54.6% |
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 11 October 2026 via checked.be.