AIR PLUS: 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.
What changed
AIR PLUS
NACE 46.140, Agents in the wholesale of industrial machinery, ships and aircraft
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€476,799
2024 · €606,016-€129,217
Equity
€2.5m
2024 · €2.2m+€276,799
Cash
€501,167
2024 · €440,539+€60,628
Balance sheet total
€7.3m
2024 · €8.6m-€1.2m
Largest movements
Assets
- Tangible fixed assets -€1.0m
down €1.0m (-17.2%), from €6.1m to €5.0m
of which Plant, machinery and equipment: -€720,838
- Receivables within one year -€212,179
down €212,179 (-30.0%), from €706,821 to €494,641
of which Other amounts receivable: -€153,513
Equity and liabilities
- Debts after one year -€801,129
down €801,129 (-20.7%), from €3.9m to €3.1m
- Reserves +€476,799
up €476,799 (+77.0%), from €618,876 to €1.1m
of which Distributable reserves: +€476,799
- Short-term financial debts -€299,585
down €299,585 (-80.7%), from €371,144 to €71,560
- Profit (loss) carried forward -€200,000
down €200,000 (-12.6%), from €1.6m to €1.4m
- Current portion of long-term debt -€170,448
down €170,448 (-13.5%), from €1.3m to €1.1m
Income statement
- Gross operating margin -€1.4m
down €1.4m (-33.2%), from €4.3m to €2.9m
- Staff costs -€1.3m
down €1.3m (-79.5%), from €1.6m to €332,834
- Depreciation +€67,881
up €67,881 (+4.3%), from €1.6m to €1.6m
- Taxes -€56,627
down €56,627 (-20.0%), from €282,455 to €225,828
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.
Result 2024
€606,016
Gross operating margin
-€1.4m
Staff costs
+€1.3m
Depreciation
-€67,881
Write-downs
+€1,542
Other operating charges
-€3,514
Other operating items
+€7,594
Financial income
-€543
Financial charges
+€29,507
Taxes
+€56,627
Result 2025
€476,799
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.
From operations
+€2.1m
Investment
-€589,966
Financing
-€1.5m
Cash 2024
€440,539
From operations (derived)
+€2.1m
Net result for the year
+€476,799
Depreciation
+€1.6m
Receivables within one year
+€212,179
Deferred charges and accrued income
+€19,838
Trade debts
-€113,355
Tax, wage and social debts
-€109,053
Smaller working-capital items
-€1,334
Investment (derived)
-€589,966
Investment in fixed assets (net)
-€589,966
Financing
-€1.5m
Debts after one year
-€801,129
Current portion of long-term debt
-€170,448
Short-term financial debts
-€299,585
Contributions, distributions and other
-€200,000
Cash 2025
€501,167
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,551,718 | €7,333,613 | -€1.2m | -14.2% |
| Fixed assets | 21/28 | €7,321,399 | €6,274,684 | -€1.0m | -14.3% |
| Tangible fixed assets | 22/27 | €6,079,916 | €5,033,200 | -€1.0m | -17.2% |
| Land and buildings | 22 | €1,998,296 | €1,949,074 | -€49,223 | -2.5% |
| Plant, machinery and equipment | 23 | €3,372,709 | €2,651,871 | -€720,838 | -21.4% |
| Furniture and vehicles | 24 | €69,630 | €84,477 | +€14,847 | +21.3% |
| Leasing and similar rights | 25 | €639,280 | €347,779 | -€291,501 | -45.6% |
| Financial fixed assets | 28 | €1,241,483 | €1,241,483 | = | 0.0% |
| Current assets | 29/58 | €1,230,319 | €1,058,929 | -€171,390 | -13.9% |
| Stocks and contracts in progress | 3 | €38,319 | €38,319 | = | 0.0% |
| Stocks | 30/36 | €38,319 | €38,319 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €706,821 | €494,641 | -€212,179 | -30.0% |
| Trade receivables | 40 | €535,249 | €476,583 | -€58,667 | -11.0% |
| Other amounts receivable | 41 | €171,572 | €18,059 | -€153,513 | -89.5% |
| Cash at bank and in hand | 54/58 | €440,539 | €501,167 | +€60,628 | +13.8% |
| Deferred charges and accrued income | 490/1 | €44,640 | €24,802 | -€19,838 | -44.4% |
| Total equity and liabilities | 10/49 | €8,551,718 | €7,333,613 | -€1.2m | -14.2% |
| Equity | 10/15 | €2,223,767 | €2,500,566 | +€276,799 | +12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €618,876 | €1,095,675 | +€476,799 | +77.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €606,016 | €1,082,815 | +€476,799 | +78.7% |
| Profit (loss) carried forward | 14 | €1,586,291 | €1,386,291 | -€200,000 | -12.6% |
| Amounts payable | 17/49 | €6,327,951 | €4,833,047 | -€1.5m | -23.6% |
| Amounts payable after more than one year | 17 | €3,868,862 | €3,067,734 | -€801,129 | -20.7% |
| Financial debts | 170/4 | €3,868,862 | €3,067,734 | -€801,129 | -20.7% |
| Amounts payable within one year | 42/48 | €2,448,737 | €1,757,647 | -€691,090 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €1,259,117 | €1,088,668 | -€170,448 | -13.5% |
| Financial debts | 43 | €371,144 | €71,560 | -€299,585 | -80.7% |
| Credit institutions | 430/8 | €371,144 | €71,560 | -€299,585 | -80.7% |
| Trade debts | 44 | €225,126 | €111,771 | -€113,355 | -50.4% |
| Suppliers | 440/4 | €225,126 | €111,771 | -€113,355 | -50.4% |
| Taxes, remuneration and social security | 45 | €215,393 | €106,340 | -€109,053 | -50.6% |
| Taxes | 450/3 | €33,380 | €53,887 | +€20,508 | +61.4% |
| Remuneration and social security | 454/9 | €182,013 | €52,452 | -€129,561 | -71.2% |
| Other amounts payable | 47/48 | €377,957 | €379,308 | +€1,352 | +0.4% |
| Accrued charges and deferred income | 492/3 | €10,353 | €7,667 | -€2,686 | -25.9% |
| Non-recurring operating income | 76A | €43,410 | €32,504 | -€10,906 | -25.1% |
| Remuneration, social security and pensions | 62 | €1,624,471 | €332,834 | -€1.3m | -79.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,568,800 | €1,636,681 | +€67,881 | +4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,542 | €0 | -€1,542 | -100.0% |
| Other operating charges | 640/8 | €48,488 | €52,002 | +€3,514 | +7.2% |
| Non-recurring operating charges | 66A | €7,594 | €0 | -€7,594 | -100.0% |
| Gross operating margin | 9900 | €4,346,612 | €2,902,427 | -€1.4m | -33.2% |
| Operating profit (loss) | 9901 | €1,095,718 | €880,910 | -€214,808 | -19.6% |
| Financial income | 75/76B | €1,503 | €960 | -€543 | -36.1% |
| Recurring financial income | 75 | €1,503 | €960 | -€543 | -36.1% |
| Financial charges | 65/66B | €208,750 | €179,243 | -€29,507 | -14.1% |
| Recurring financial charges | 65 | €208,750 | €179,243 | -€29,507 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €888,472 | €702,627 | -€185,845 | -20.9% |
| Income taxes | 67/77 | €282,455 | €225,828 | -€56,627 | -20.0% |
| Profit (loss) for the period | 9904 | €606,016 | €476,799 | -€129,217 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €606,016 | €476,799 | -€129,217 | -21.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.