AIR-ORL: 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-ORL
Largest movements
- Cash +€38,964
up €38,964 (+24.6%), from €158,664 to €197,628
mainly Net result for the year (+€99,663) and Depreciation (+€52,569)
- Tangible fixed assets -€37,351
down €37,351 (-12.0%), from €311,296 to €273,945
of which Land and buildings: -€23,795
- Debts after one year -€41,169
down €41,169 (-30.5%), from €134,872 to €93,703
- Reserves +€37,578
up €37,578 (+16.3%), from €230,827 to €268,405
of which Distributable reserves: +€37,578
- Other debts +€9,999
up €9,999 (+18.8%), from €53,307 to €63,306
- Current portion of long-term debt -€6,348
down €6,348 (-13.4%), from €47,517 to €41,169
- Financial charges -€76,820
down €76,820 (-96.0%), from €79,981 to €3,161
- Gross operating margin -€55,750
down €55,750 (-18.8%), from €296,955 to €241,205
- Staff costs -€21,573
down €21,573 (-38.3%), from €56,336 to €34,762
- Taxes +€16,523
up €16,523 (+60.3%), from €27,382 to €43,906
- Depreciation -€8,566
down €8,566 (-14.0%), from €61,136 to €52,569
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 | €527,904 | €526,083 | -€1,821 | -0.3% |
| Fixed assets | 21/28 | €312,296 | €274,945 | -€37,351 | -12.0% |
| Tangible fixed assets | 22/27 | €311,296 | €273,945 | -€37,351 | -12.0% |
| Land and buildings | 22 | €240,697 | €216,902 | -€23,795 | -9.9% |
| Plant, machinery and equipment | 23 | €7,516 | €4,972 | -€2,544 | -33.8% |
| Furniture and vehicles | 24 | €56,371 | €46,879 | -€9,491 | -16.8% |
| Leasing and similar rights | 25 | €6,713 | €5,193 | -€1,520 | -22.6% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €215,608 | €251,138 | +€35,530 | +16.5% |
| Stocks and contracts in progress | 3 | €4,362 | €0 | -€4,362 | -100% |
| Stocks | 30/36 | €4,362 | €0 | -€4,362 | -100% |
| Amounts receivable within one year | 40/41 | €469 | €958 | +€488 | +104% |
| Trade receivables | 40 | €0 | €958 | +€958 | |
| Other amounts receivable | 41 | €469 | €0 | -€469 | -100% |
| Cash at bank and in hand | 54/58 | €158,664 | €197,628 | +€38,964 | +24.6% |
| Deferred charges and accrued income | 490/1 | €52,113 | €52,552 | +€439 | +0.8% |
| Total equity and liabilities | 10/49 | €527,904 | €526,083 | -€1,821 | -0.3% |
| Equity | 10/15 | €255,839 | €293,417 | +€37,578 | +14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €230,827 | €268,405 | +€37,578 | +16.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €230,827 | €268,405 | +€37,578 | +16.3% |
| Profit (loss) carried forward | 14 | €12,612 | €12,612 | = | 0.0% |
| Amounts payable | 17/49 | €272,066 | €232,666 | -€39,399 | -14.5% |
| Amounts payable after more than one year | 17 | €134,872 | €93,703 | -€41,169 | -30.5% |
| Financial debts | 170/4 | €134,872 | €93,703 | -€41,169 | -30.5% |
| Amounts payable within one year | 42/48 | €135,932 | €137,702 | +€1,770 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €47,517 | €41,169 | -€6,348 | -13.4% |
| Trade debts | 44 | €968 | €0 | -€968 | -100% |
| Suppliers | 440/4 | €968 | €0 | -€968 | -100% |
| Taxes, remuneration and social security | 45 | €34,140 | €33,228 | -€913 | -2.7% |
| Taxes | 450/3 | €28,615 | €29,315 | +€700 | +2.4% |
| Remuneration and social security | 454/9 | €5,525 | €3,912 | -€1,613 | -29.2% |
| Other amounts payable | 47/48 | €53,307 | €63,306 | +€9,999 | +18.8% |
| Accrued charges and deferred income | 492/3 | €1,261 | €1,261 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €56,336 | €34,762 | -€21,573 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,136 | €52,569 | -€8,566 | -14.0% |
| Other operating charges | 640/8 | €6,969 | €7,144 | +€174 | +2.5% |
| Gross operating margin | 9900 | €296,955 | €241,205 | -€55,750 | -18.8% |
| Operating profit (loss) | 9901 | €172,514 | €146,730 | -€25,784 | -14.9% |
| Financial income | 75/76B | €47 | €0 | -€47 | -100% |
| Recurring financial income | 75 | €47 | €0 | -€47 | -100% |
| Financial charges | 65/66B | €79,981 | €3,161 | -€76,820 | -96.0% |
| Recurring financial charges | 65 | €79,981 | €3,161 | -€76,820 | -96.0% |
| Profit (loss) for the period before taxes | 9903 | €92,580 | €143,569 | +€50,988 | +55.1% |
| Income taxes | 67/77 | €27,382 | €43,906 | +€16,523 | +60.3% |
| Profit (loss) for the period | 9904 | €65,198 | €99,663 | +€34,465 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,198 | €99,663 | +€34,465 | +52.9% |
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 29 October 2026 via checked.be.