AIR: 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.
AIR
Largest movements
- Cash -€412,305
down €412,305 (-57.6%), from €715,892 to €303,588
mainly Debts after one year (-€300,000) and Trade debts (-€236,282)
- Receivables within one year -€206,981
down €206,981 (-31.2%), from €662,530 to €455,549
of which Trade receivables: -€200,208
- Deferred charges and accrued income -€30,881
down €30,881 (-39.2%), from €78,690 to €47,810
- Tangible fixed assets +€15,097
up €15,097 (+108.8%), from €13,880 to €28,977
of which Plant, machinery and equipment: +€14,242
- Debts after one year -€300,000
no longer reported in 2025 (was €300,000)
- Trade debts -€236,282
down €236,282 (-59.9%), from €394,767 to €158,485
- Tax, wage and social debts -€147,229
down €147,229 (-65.9%), from €223,409 to €76,180
of which Taxes: -€112,272
- Profit (loss) carried forward +€37,416
up €37,416 (+17.1%), from €218,666 to €256,082
- Gross operating margin -€294,169
down €294,169 (-25.2%), from €1.2m to €871,787
- Taxes -€71,663
down €71,663 (-74.3%), from €96,452 to €24,789
- Staff costs +€21,127
up €21,127 (+2.8%), from €766,372 to €787,499
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 | €1,472,452 | €837,091 | -€635,361 | -43.1% |
| Fixed assets | 21/28 | €15,340 | €30,146 | +€14,806 | +96.5% |
| Intangible fixed assets | 21 | €874 | €583 | -€291 | -33.3% |
| Tangible fixed assets | 22/27 | €13,880 | €28,977 | +€15,097 | +108.8% |
| Plant, machinery and equipment | 23 | €13,880 | €28,122 | +€14,242 | +102.6% |
| Furniture and vehicles | 24 | - | €855 | +€855 | |
| Financial fixed assets | 28 | €586 | €586 | = | 0.0% |
| Current assets | 29/58 | €1,457,112 | €806,946 | -€650,166 | -44.6% |
| Amounts receivable within one year | 40/41 | €662,530 | €455,549 | -€206,981 | -31.2% |
| Trade receivables | 40 | €642,859 | €442,651 | -€200,208 | -31.1% |
| Other amounts receivable | 41 | €19,670 | €12,897 | -€6,773 | -34.4% |
| Cash at bank and in hand | 54/58 | €715,892 | €303,588 | -€412,305 | -57.6% |
| Deferred charges and accrued income | 490/1 | €78,690 | €47,810 | -€30,881 | -39.2% |
| Total equity and liabilities | 10/49 | €1,472,452 | €837,091 | -€635,361 | -43.1% |
| Equity | 10/15 | €350,666 | €388,082 | +€37,416 | +10.7% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,666 | €256,082 | +€37,416 | +17.1% |
| Amounts payable | 17/49 | €1,121,787 | €449,009 | -€672,777 | -60.0% |
| Amounts payable after more than one year | 17 | €300,000 | - | -€300,000 | |
| Financial debts | 170/4 | €300,000 | - | -€300,000 | |
| Amounts payable within one year | 42/48 | €658,175 | €274,665 | -€383,510 | -58.3% |
| Trade debts | 44 | €394,767 | €158,485 | -€236,282 | -59.9% |
| Suppliers | 440/4 | €394,767 | €158,485 | -€236,282 | -59.9% |
| Taxes, remuneration and social security | 45 | €223,409 | €76,180 | -€147,229 | -65.9% |
| Taxes | 450/3 | €126,857 | €14,585 | -€112,272 | -88.5% |
| Remuneration and social security | 454/9 | €96,551 | €61,595 | -€34,956 | -36.2% |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €163,611 | €174,344 | +€10,733 | +6.6% |
| Remuneration, social security and pensions | 62 | €766,372 | €787,499 | +€21,127 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,818 | €11,833 | +€8,015 | +209.9% |
| Other operating charges | 640/8 | €11,945 | €3,183 | -€8,763 | -73.4% |
| Non-recurring operating charges | 66A | - | €2,772 | +€2,772 | |
| Gross operating margin | 9900 | €1,165,956 | €871,787 | -€294,169 | -25.2% |
| Operating profit (loss) | 9901 | €383,821 | €66,501 | -€317,320 | -82.7% |
| Financial income | 75/76B | €316 | €2 | -€314 | -99.3% |
| Recurring financial income | 75 | €316 | €2 | -€314 | -99.3% |
| Financial charges | 65/66B | €14,228 | €4,298 | -€9,930 | -69.8% |
| Recurring financial charges | 65 | €14,228 | €4,298 | -€9,930 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | €369,909 | €62,205 | -€307,703 | -83.2% |
| Income taxes | 67/77 | €96,452 | €24,789 | -€71,663 | -74.3% |
| Profit (loss) for the period | 9904 | €273,457 | €37,416 | -€236,041 | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €273,457 | €37,416 | -€236,041 | -86.3% |
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.