Air-MFA: what changed
Two fiscal 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-MFA
Largest movements
- Tangible fixed assets +€39,599
up €39,599 (+55.2%), from €71,689 to €111,287
of which Furniture and vehicles: +€60,038
- Receivables within one year +€7,757
up €7,757 (+636.5%), from €1,219 to €8,975
of which Other amounts receivable: +€7,757
- Cash -€5,190
down €5,190 (-13.3%), from €39,117 to €33,927
mainly Investment in fixed assets (net) (-€66,858) and Receivables within one year (-€7,757)
- Deferred charges and accrued income +€3,466
up €3,466 (+625.6%), from €554 to €4,020
- Other debts +€32,597
up €32,597 (+271.6%), from €12,000 to €44,597
- Current portion of long-term debt +€6,830
up €6,830 (+32.8%), from €20,809 to €27,639
- Profit (loss) carried forward +€5,921
up €5,921 (+27.2%), from €21,759 to €27,680
- Debts after one year +€3,371
up €3,371 (+6.9%), from €48,819 to €52,190
- Trade debts -€2,261
down €2,261 (-84.2%), from €2,686 to €425
- Depreciation +€5,075
up €5,075 (+22.9%), from €22,184 to €27,259
- Gross operating margin +€1,419
up €1,419 (+4.0%), from €35,457 to €36,876
- Taxes -€881
down €881 (-58.5%), from €1,506 to €624
- Financial charges -€473
down €473 (-15.0%), from €3,152 to €2,679
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 | €112,579 | €158,210 | +€45,631 | +40.5% |
| Fixed assets | 21/28 | €71,689 | €111,287 | +€39,599 | +55.2% |
| Tangible fixed assets | 22/27 | €71,689 | €111,287 | +€39,599 | +55.2% |
| Plant, machinery and equipment | 23 | €68,816 | €48,376 | -€20,440 | -29.7% |
| Furniture and vehicles | 24 | €2,873 | €62,912 | +€60,038 | +2089.6% |
| Current assets | 29/58 | €40,890 | €46,923 | +€6,033 | +14.8% |
| Amounts receivable within one year | 40/41 | €1,219 | €8,975 | +€7,757 | +636.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,219 | €8,975 | +€7,757 | +636.5% |
| Cash at bank and in hand | 54/58 | €39,117 | €33,927 | -€5,190 | -13.3% |
| Deferred charges and accrued income | 490/1 | €554 | €4,020 | +€3,466 | +625.6% |
| Total equity and liabilities | 10/49 | €112,579 | €158,210 | +€45,631 | +40.5% |
| Equity | 10/15 | €26,759 | €32,680 | +€5,921 | +22.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,759 | €27,680 | +€5,921 | +27.2% |
| Amounts payable | 17/49 | €85,820 | €125,530 | +€39,711 | +46.3% |
| Amounts payable after more than one year | 17 | €48,819 | €52,190 | +€3,371 | +6.9% |
| Financial debts | 170/4 | €48,819 | €52,190 | +€3,371 | +6.9% |
| Amounts payable within one year | 42/48 | €37,000 | €73,305 | +€36,305 | +98.1% |
| Current portion of amounts payable after more than one year | 42 | €20,809 | €27,639 | +€6,830 | +32.8% |
| Trade debts | 44 | €2,686 | €425 | -€2,261 | -84.2% |
| Suppliers | 440/4 | €2,686 | €425 | -€2,261 | -84.2% |
| Advances received on contracts in progress | 46 | - | €20 | +€20 | |
| Taxes, remuneration and social security | 45 | €1,506 | €624 | -€881 | -58.5% |
| Taxes | 450/3 | €1,506 | €624 | -€881 | -58.5% |
| Other amounts payable | 47/48 | €12,000 | €44,597 | +€32,597 | +271.6% |
| Accrued charges and deferred income | 492/3 | €0 | €35 | +€35 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,184 | €27,259 | +€5,075 | +22.9% |
| Other operating charges | 640/8 | €252 | €397 | +€145 | +57.6% |
| Gross operating margin | 9900 | €35,457 | €36,876 | +€1,419 | +4.0% |
| Operating profit (loss) | 9901 | €13,021 | €9,219 | -€3,801 | -29.2% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €3,152 | €2,679 | -€473 | -15.0% |
| Recurring financial charges | 65 | €3,152 | €2,679 | -€473 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €9,869 | €6,545 | -€3,325 | -33.7% |
| Income taxes | 67/77 | €1,506 | €624 | -€881 | -58.5% |
| Profit (loss) for the period | 9904 | €8,364 | €5,921 | -€2,443 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,364 | €5,921 | -€2,443 | -29.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.