AEROPLANO: 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.
AEROPLANO
Largest movements
- Receivables within one year +€121,156
up €121,156 (+314%), from €38,596 to €159,752
of which Trade receivables: +€91,324
- Tangible fixed assets +€99,123
up €99,123 (+7.1%), from €1.4m to €1.5m
of which Assets under construction and advance payments: +€120,000
- Cash -€50,009
down €50,009 (-34.7%), from €144,206 to €94,197
mainly Investment in fixed assets (net) (-€640,721) and Receivables within one year (-€121,156)
- Revaluation surpluses -€163,988
down €163,988 (-63.9%), from €256,797 to €92,809
- Reserves +€163,988
up €163,988 (+32.1%), from €510,203 to €674,191
- Debts after one year +€99,536
up €99,536 (+10.9%), from €916,436 to €1.0m
of which Financial debts: +€123,560
- Trade debts +€97,934
up €97,934 (+3,471%), from €2,821 to €100,755
- Profit (loss) carried forward -€90,961
down €90,961 (-26.7%), from -€340,411 to -€431,372
- Gross operating margin +€108,841
up €108,841 (+26.4%), from €412,805 to €521,646
- Depreciation -€29,225
down €29,225 (-5.2%), from €564,822 to €535,598
- Financial charges +€10,664
up €10,664 (+34.0%), from €31,340 to €42,003
- Taxes +€6,728
new in 2025: €6,728
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 | €1,702,663 | €1,878,767 | +€176,104 | +10.3% |
| Fixed assets | 21/28 | €1,519,083 | €1,624,206 | +€105,123 | +6.9% |
| Tangible fixed assets | 22/27 | €1,403,583 | €1,502,706 | +€99,123 | +7.1% |
| Plant, machinery and equipment | 23 | €1,403,583 | €1,382,706 | -€20,877 | -1.5% |
| Assets under construction and advance payments | 27 | - | €120,000 | +€120,000 | |
| Financial fixed assets | 28 | €115,500 | €121,500 | +€6,000 | +5.2% |
| Current assets | 29/58 | €183,580 | €254,561 | +€70,981 | +38.7% |
| Amounts receivable within one year | 40/41 | €38,596 | €159,752 | +€121,156 | +314% |
| Trade receivables | 40 | €28,596 | €119,920 | +€91,324 | +319% |
| Other amounts receivable | 41 | €10,000 | €39,832 | +€29,832 | +298% |
| Cash at bank and in hand | 54/58 | €144,206 | €94,197 | -€50,009 | -34.7% |
| Deferred charges and accrued income | 490/1 | €779 | €613 | -€166 | -21.4% |
| Total equity and liabilities | 10/49 | €1,702,663 | €1,878,767 | +€176,104 | +10.3% |
| Equity | 10/15 | €506,589 | €415,628 | -€90,961 | -18.0% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Revaluation surpluses | 12 | €256,797 | €92,809 | -€163,988 | -63.9% |
| Reserves | 13 | €510,203 | €674,191 | +€163,988 | +32.1% |
| Distributable reserves | 133 | €510,203 | €674,191 | +€163,988 | +32.1% |
| Profit (loss) carried forward | 14 | -€340,411 | -€431,372 | -€90,961 | -26.7% |
| Amounts payable | 17/49 | €1,196,074 | €1,463,139 | +€267,065 | +22.3% |
| Amounts payable after more than one year | 17 | €916,436 | €1,015,972 | +€99,536 | +10.9% |
| Financial debts | 170/4 | €775,224 | €898,783 | +€123,560 | +15.9% |
| Other amounts payable | 178/9 | €141,212 | €117,189 | -€24,023 | -17.0% |
| Amounts payable within one year | 42/48 | €277,730 | €444,413 | +€166,683 | +60.0% |
| Current portion of amounts payable after more than one year | 42 | €246,685 | €303,670 | +€56,985 | +23.1% |
| Trade debts | 44 | €2,821 | €100,755 | +€97,934 | +3,471% |
| Suppliers | 440/4 | €2,821 | €100,755 | +€97,934 | +3,471% |
| Taxes, remuneration and social security | 45 | €19,746 | €33,221 | +€13,475 | +68.2% |
| Taxes | 450/3 | €19,746 | €33,221 | +€13,475 | +68.2% |
| Other amounts payable | 47/48 | €8,477 | €6,766 | -€1,711 | -20.2% |
| Accrued charges and deferred income | 492/3 | €1,908 | €2,754 | +€846 | +44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €564,822 | €535,598 | -€29,225 | -5.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating charges | 66A | €4,151 | €27,279 | +€23,128 | +557% |
| Gross operating margin | 9900 | €412,805 | €521,646 | +€108,841 | +26.4% |
| Operating profit (loss) | 9901 | -€157,136 | -€42,229 | +€114,907 | +73.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €31,340 | €42,003 | +€10,664 | +34.0% |
| Recurring financial charges | 65 | €31,340 | €42,003 | +€10,664 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | -€188,476 | -€84,233 | +€104,243 | +55.3% |
| Income taxes | 67/77 | - | €6,728 | +€6,728 | |
| Profit (loss) for the period | 9904 | -€188,476 | -€90,961 | +€97,515 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€188,476 | -€90,961 | +€97,515 | +51.7% |
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.