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.
Wings
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+55.2%), from €1.8m to €2.8m
of which Land and buildings: +€1.0m
- Revaluation surpluses +€1.1m
up €1.1m (+117%), from €900,079 to €2.0m
- Reserves +€170,175
up €170,175 (+25.8%), from €660,640 to €830,815
of which Distributable reserves: +€170,175
- Current portion of long-term debt -€88,514
down €88,514 (-59.2%), from €149,507 to €60,993
- Tax, wage and social debts -€68,034
down €68,034 (-49.2%), from €138,284 to €70,250
- Debts after one year -€60,993
down €60,993 (-42.8%), from €142,648 to €81,655
- Gross operating margin -€102,218
down €102,218 (-24.6%), from €414,765 to €312,547
- Taxes -€48,523
down €48,523 (-43.3%), from €112,108 to €63,585
- Depreciation +€48,438
up €48,438 (+86.4%), from €56,079 to €104,518
- Other operating charges -€19,067
down €19,067 (-55.5%), from €34,379 to €15,311
- Financial charges -€6,822
down €6,822 (-43.6%), from €15,647 to €8,825
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,167,664 | €3,145,055 | +€977,391 | +45.1% |
| Fixed assets | 21/28 | €2,045,643 | €3,041,047 | +€995,404 | +48.7% |
| Intangible fixed assets | 21 | €36,587 | €21,960 | -€14,627 | -40.0% |
| Tangible fixed assets | 22/27 | €1,829,056 | €2,839,086 | +€1.0m | +55.2% |
| Land and buildings | 22 | €1,824,976 | €2,837,247 | +€1.0m | +55.5% |
| Plant, machinery and equipment | 23 | €2,118 | €613 | -€1,505 | -71.1% |
| Furniture and vehicles | 24 | €1,962 | €1,226 | -€736 | -37.5% |
| Financial fixed assets | 28 | €180,000 | €180,000 | = | 0.0% |
| Current assets | 29/58 | €122,021 | €104,008 | -€18,013 | -14.8% |
| Amounts receivable within one year | 40/41 | €13,452 | €15,930 | +€2,478 | +18.4% |
| Trade receivables | 40 | €13,452 | €14,171 | +€720 | +5.4% |
| Other amounts receivable | 41 | - | €1,759 | +€1,759 | |
| Cash at bank and in hand | 54/58 | €108,570 | €88,078 | -€20,491 | -18.9% |
| Total equity and liabilities | 10/49 | €2,167,664 | €3,145,055 | +€977,391 | +45.1% |
| Equity | 10/15 | €1,710,719 | €2,930,952 | +€1.2m | +71.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Revaluation surpluses | 12 | €900,079 | €1,950,137 | +€1.1m | +117% |
| Reserves | 13 | €660,640 | €830,815 | +€170,175 | +25.8% |
| Tax-exempt reserves | 132 | €12,426 | €12,426 | = | 0.0% |
| Distributable reserves | 133 | €648,214 | €818,389 | +€170,175 | +26.3% |
| Amounts payable | 17/49 | €456,945 | €214,103 | -€242,842 | -53.1% |
| Amounts payable after more than one year | 17 | €142,648 | €81,655 | -€60,993 | -42.8% |
| Financial debts | 170/4 | €142,648 | €81,655 | -€60,993 | -42.8% |
| Amounts payable within one year | 42/48 | €314,297 | €132,448 | -€181,849 | -57.9% |
| Current portion of amounts payable after more than one year | 42 | €149,507 | €60,993 | -€88,514 | -59.2% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €24,173 | €1,205 | -€22,968 | -95.0% |
| Suppliers | 440/4 | €24,173 | €1,205 | -€22,968 | -95.0% |
| Taxes, remuneration and social security | 45 | €138,284 | €70,250 | -€68,034 | -49.2% |
| Taxes | 450/3 | €138,284 | €70,250 | -€68,034 | -49.2% |
| Other amounts payable | 47/48 | €2,333 | €0 | -€2,333 | -100% |
| Non-recurring operating income | 76A | €8,011 | €0 | -€8,011 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,079 | €104,518 | +€48,438 | +86.4% |
| Other operating charges | 640/8 | €34,379 | €15,311 | -€19,067 | -55.5% |
| Gross operating margin | 9900 | €414,765 | €312,547 | -€102,218 | -24.6% |
| Operating profit (loss) | 9901 | €324,307 | €192,718 | -€131,589 | -40.6% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €15,647 | €8,825 | -€6,822 | -43.6% |
| Recurring financial charges | 65 | €15,647 | €8,825 | -€6,822 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €308,660 | €183,896 | -€124,764 | -40.4% |
| Income taxes | 67/77 | €112,108 | €63,585 | -€48,523 | -43.3% |
| Profit (loss) for the period | 9904 | €196,552 | €120,312 | -€76,240 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €196,552 | €120,312 | -€76,240 | -38.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.