ACTION AIR FREIGHT: 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.
ACTION AIR FREIGHT
Largest movements
- Cash +€943,310
up €943,310 (+167%), from €563,731 to €1.5m
mainly Current investments (+€929,027) and Net result for the year (+€776,708)
- Current investments -€929,027
down €929,027 (-56.1%), from €1.7m to €727,830
- Receivables within one year +€140,954
up €140,954 (+10.0%), from €1.4m to €1.5m
of which Other amounts receivable: +€142,467
- Reserves +€776,708
up €776,708 (+14.1%), from €5.5m to €6.3m
- Trade debts -€402,158
down €402,158 (-95.7%), from €420,438 to €18,280
- Tax, wage and social debts -€105,121
down €105,121 (-83.5%), from €125,849 to €20,728
- Provisions -€75,499
no longer reported in 2025 (was €75,499)
- Current portion of long-term debt -€65,545
down €65,545 (-91.6%), from €71,544 to €5,999
- Gross operating margin -€147,994
down €147,994 (-13.4%), from €1.1m to €954,130
- Financial charges -€88,872
down €88,872, from €75,887 to -€12,985
- Provisions -€75,499
new in 2025: -€75,499
- Taxes -€31,636
down €31,636 (-10.5%), from €301,885 to €270,249
- Financial income -€28,926
down €28,926 (-26.2%), from €110,491 to €81,565
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 | €6,230,169 | €6,345,898 | +€115,730 | +1.9% |
| Fixed assets | 21/28 | €2,600,484 | €2,561,591 | -€38,893 | -1.5% |
| Tangible fixed assets | 22/27 | €2,529,291 | €2,490,398 | -€38,893 | -1.5% |
| Land and buildings | 22 | €2,287,538 | €2,250,567 | -€36,971 | -1.6% |
| Plant, machinery and equipment | 23 | €240,260 | €239,566 | -€694 | -0.3% |
| Furniture and vehicles | 24 | €1,494 | €266 | -€1,228 | -82.2% |
| Financial fixed assets | 28 | €71,193 | €71,193 | = | 0.0% |
| Current assets | 29/58 | €3,629,684 | €3,784,307 | +€154,623 | +4.3% |
| Amounts receivable within one year | 40/41 | €1,406,340 | €1,547,295 | +€140,954 | +10.0% |
| Trade receivables | 40 | €9,252 | €7,739 | -€1,513 | -16.3% |
| Other amounts receivable | 41 | €1,397,088 | €1,539,555 | +€142,467 | +10.2% |
| Current investments | 50/53 | €1,656,857 | €727,830 | -€929,027 | -56.1% |
| Cash at bank and in hand | 54/58 | €563,731 | €1,507,042 | +€943,310 | +167% |
| Deferred charges and accrued income | 490/1 | €2,756 | €2,141 | -€615 | -22.3% |
| Total equity and liabilities | 10/49 | €6,230,169 | €6,345,898 | +€115,730 | +1.9% |
| Equity | 10/15 | €5,517,601 | €6,294,309 | +€776,708 | +14.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,499,009 | €6,275,717 | +€776,708 | +14.1% |
| Distributable reserves | 133 | €5,499,009 | €6,275,717 | +€776,708 | +14.1% |
| Provisions and deferred taxes | 16 | €75,499 | - | -€75,499 | |
| Provisions for liabilities and charges | 160/5 | €75,499 | - | -€75,499 | |
| Pensions and similar obligations | 160 | €75,499 | - | -€75,499 | |
| Amounts payable | 17/49 | €637,069 | €51,590 | -€585,479 | -91.9% |
| Amounts payable after more than one year | 17 | €5,999 | - | -€5,999 | |
| Financial debts | 170/4 | €5,999 | - | -€5,999 | |
| Amounts payable within one year | 42/48 | €629,575 | €50,007 | -€579,567 | -92.1% |
| Current portion of amounts payable after more than one year | 42 | €71,544 | €5,999 | -€65,545 | -91.6% |
| Trade debts | 44 | €420,438 | €18,280 | -€402,158 | -95.7% |
| Suppliers | 440/4 | €420,438 | €18,280 | -€402,158 | -95.7% |
| Taxes, remuneration and social security | 45 | €125,849 | €20,728 | -€105,121 | -83.5% |
| Taxes | 450/3 | €125,849 | €20,728 | -€105,121 | -83.5% |
| Other amounts payable | 47/48 | €11,744 | €5,000 | -€6,744 | -57.4% |
| Accrued charges and deferred income | 492/3 | €1,495 | €1,583 | +€88 | +5.9% |
| Non-recurring operating income | 76A | €428 | - | -€428 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,610 | €70,135 | +€5,525 | +8.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€75,499 | -€75,499 | |
| Other operating charges | 640/8 | €8,726 | €7,087 | -€1,639 | -18.8% |
| Gross operating margin | 9900 | €1,102,123 | €954,130 | -€147,994 | -13.4% |
| Operating profit (loss) | 9901 | €1,028,787 | €952,407 | -€76,381 | -7.4% |
| Financial income | 75/76B | €110,491 | €81,565 | -€28,926 | -26.2% |
| Recurring financial income | 75 | €110,491 | €81,565 | -€28,926 | -26.2% |
| Financial charges | 65/66B | €75,887 | -€12,985 | -€88,872 | |
| Recurring financial charges | 65 | €75,887 | -€12,985 | -€88,872 | |
| Profit (loss) for the period before taxes | 9903 | €1,063,391 | €1,046,957 | -€16,434 | -1.5% |
| Income taxes | 67/77 | €301,885 | €270,249 | -€31,636 | -10.5% |
| Profit (loss) for the period | 9904 | €761,506 | €776,708 | +€15,202 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €761,506 | €776,708 | +€15,202 | +2.0% |
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 15 October 2026 via checked.be.