AeroCap: 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.
AeroCap
Largest movements
- Cash -€79,801
down €79,801 (-62.8%), from €127,121 to €47,320
mainly Contributions, distributions and other (-€189,781) and Tax, wage and social debts (-€13,803)
- Tangible fixed assets -€3,720
down €3,720 (-20.8%), from €17,915 to €14,195
of which Furniture and vehicles: -€3,104
- Reserves -€132,758
down €132,758 (-46.1%), from €288,185 to €155,427
- Other debts +€57,620
up €57,620 (+4,729%), from €1,218 to €58,838
- Tax, wage and social debts -€13,803
down €13,803 (-74.4%), from €18,556 to €4,752
- Trade debts +€5,053
up €5,053 (+961%), from €526 to €5,580
- Turnover -€177,849
no longer reported in 2025 (was €177,849)
- Purchases and services -€87,736
no longer reported in 2025 (was €87,736)
- Gross operating margin -€15,642
down €15,642 (-15.8%), from €99,293 to €83,650
- Taxes -€9,886
down €9,886 (-32.3%), from €30,639 to €20,752
- Depreciation +€2,110
up €2,110 (+79.6%), from €2,653 to €4,763
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 | €327,290 | €243,674 | -€83,616 | -25.5% |
| Fixed assets | 21/28 | €17,915 | €14,195 | -€3,720 | -20.8% |
| Tangible fixed assets | 22/27 | €17,915 | €14,195 | -€3,720 | -20.8% |
| Land and buildings | 22 | €883 | €510 | -€373 | -42.2% |
| Plant, machinery and equipment | 23 | €312 | €68 | -€244 | -78.2% |
| Furniture and vehicles | 24 | €16,721 | €13,617 | -€3,104 | -18.6% |
| Current assets | 29/58 | €309,375 | €229,479 | -€79,896 | -25.8% |
| Amounts receivable within one year | 40/41 | €30,800 | €31,493 | +€693 | +2.2% |
| Trade receivables | 40 | €28,705 | €25,624 | -€3,082 | -10.7% |
| Other amounts receivable | 41 | €2,095 | €5,869 | +€3,774 | +180% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €127,121 | €47,320 | -€79,801 | -62.8% |
| Deferred charges and accrued income | 490/1 | €1,453 | €666 | -€788 | -54.2% |
| Total equity and liabilities | 10/49 | €327,290 | €243,674 | -€83,616 | -25.5% |
| Equity | 10/15 | €306,735 | €173,977 | -€132,758 | -43.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €288,185 | €155,427 | -€132,758 | -46.1% |
| Distributable reserves | 133 | €288,185 | €155,427 | -€132,758 | -46.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €20,555 | €69,697 | +€49,142 | +239% |
| Amounts payable within one year | 42/48 | €20,300 | €69,170 | +€48,870 | +241% |
| Trade debts | 44 | €526 | €5,580 | +€5,053 | +961% |
| Suppliers | 440/4 | €526 | €5,580 | +€5,053 | +961% |
| Taxes, remuneration and social security | 45 | €18,556 | €4,752 | -€13,803 | -74.4% |
| Taxes | 450/3 | €18,556 | €4,752 | -€13,803 | -74.4% |
| Other amounts payable | 47/48 | €1,218 | €58,838 | +€57,620 | +4,729% |
| Accrued charges and deferred income | 492/3 | €255 | €527 | +€272 | +106% |
| Turnover | 70 | €177,849 | - | -€177,849 | |
| Non-recurring operating income | 76A | €9,050 | €0 | -€9,050 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €87,736 | - | -€87,736 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,653 | €4,763 | +€2,110 | +79.6% |
| Other operating charges | 640/8 | €815 | €1,017 | +€202 | +24.8% |
| Gross operating margin | 9900 | €99,293 | €83,650 | -€15,642 | -15.8% |
| Operating profit (loss) | 9901 | €95,825 | €77,870 | -€17,955 | -18.7% |
| Financial income | 75/76B | €277 | €33 | -€244 | -88.1% |
| Recurring financial income | 75 | €277 | €33 | -€244 | -88.1% |
| Financial charges | 65/66B | €69 | €127 | +€57 | +82.8% |
| Recurring financial charges | 65 | €69 | €127 | +€57 | +82.8% |
| Profit (loss) for the period before taxes | 9903 | €96,032 | €77,776 | -€18,256 | -19.0% |
| Income taxes | 67/77 | €30,639 | €20,752 | -€9,886 | -32.3% |
| Profit (loss) for the period | 9904 | €65,393 | €57,024 | -€8,370 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €65,393 | €57,024 | -€8,370 | -12.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.