AIR SYSTEMS: 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 SYSTEMS
Largest movements
- Receivables within one year +€152,744
up €152,744 (+41.9%), from €364,859 to €517,602
of which Trade receivables: +€122,735
- Trade debts +€172,883
up €172,883 (+64.1%), from €269,667 to €442,550
- Debts after one year -€33,007
down €33,007 (-39.2%), from €84,117 to €51,110
- Profit (loss) carried forward +€17,229
up €17,229 (+38.6%), from €44,606 to €61,835
- Tax, wage and social debts +€15,720
up €15,720 (+170.7%), from €9,211 to €24,931
of which Taxes: +€10,535
- Short-term financial debts -€15,000
down €15,000 (-24.2%), from €62,000 to €47,000
- Gross operating margin +€39,435
up €39,435 (+6.2%), from €632,208 to €671,643
- Staff costs -€29,713
down €29,713 (-5.7%), from €516,886 to €487,174
- Taxes +€14,735
up €14,735 (+98.2%), from €15,010 to €29,745
- Financial charges -€10,781
down €10,781 (-28.6%), from €37,659 to €26,879
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 | €575,912 | €734,410 | +€158,498 | +27.5% |
| Fixed assets | 21/28 | €175,073 | €176,304 | +€1,231 | +0.7% |
| Tangible fixed assets | 22/27 | €175,073 | €176,304 | +€1,231 | +0.7% |
| Plant, machinery and equipment | 23 | €13,457 | €17,486 | +€4,029 | +29.9% |
| Furniture and vehicles | 24 | €161,616 | €158,819 | -€2,797 | -1.7% |
| Current assets | 29/58 | €400,839 | €558,105 | +€157,267 | +39.2% |
| Stocks and contracts in progress | 3 | €29,435 | €36,290 | +€6,855 | +23.3% |
| Contracts in progress | 37 | €29,435 | €36,290 | +€6,855 | +23.3% |
| Amounts receivable within one year | 40/41 | €364,859 | €517,602 | +€152,744 | +41.9% |
| Trade receivables | 40 | €334,525 | €457,261 | +€122,735 | +36.7% |
| Other amounts receivable | 41 | €30,333 | €60,342 | +€30,008 | +98.9% |
| Cash at bank and in hand | 54/58 | €2,793 | €1,549 | -€1,244 | -44.5% |
| Deferred charges and accrued income | 490/1 | €3,752 | €2,665 | -€1,088 | -29.0% |
| Total equity and liabilities | 10/49 | €575,912 | €734,410 | +€158,498 | +27.5% |
| Equity | 10/15 | €110,826 | €128,055 | +€17,229 | +15.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €47,628 | €47,628 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €45,769 | €45,769 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,606 | €61,835 | +€17,229 | +38.6% |
| Amounts payable | 17/49 | €465,086 | €606,355 | +€141,269 | +30.4% |
| Amounts payable after more than one year | 17 | €84,117 | €51,110 | -€33,007 | -39.2% |
| Financial debts | 170/4 | €84,117 | €51,110 | -€33,007 | -39.2% |
| Amounts payable within one year | 42/48 | €380,969 | €555,245 | +€174,276 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €31,649 | €33,007 | +€1,358 | +4.3% |
| Financial debts | 43 | €62,000 | €47,000 | -€15,000 | -24.2% |
| Credit institutions | 430/8 | €62,000 | €47,000 | -€15,000 | -24.2% |
| Trade debts | 44 | €269,667 | €442,550 | +€172,883 | +64.1% |
| Suppliers | 440/4 | €269,667 | €442,550 | +€172,883 | +64.1% |
| Taxes, remuneration and social security | 45 | €9,211 | €24,931 | +€15,720 | +170.7% |
| Taxes | 450/3 | €9,211 | €19,745 | +€10,535 | +114.4% |
| Remuneration and social security | 454/9 | - | €5,186 | +€5,186 | |
| Other amounts payable | 47/48 | €8,442 | €7,757 | -€685 | -8.1% |
| Remuneration, social security and pensions | 62 | €516,886 | €487,174 | -€29,713 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,081 | €39,883 | +€4,802 | +13.7% |
| Other operating charges | 640/8 | €6,375 | €6,344 | -€30 | -0.5% |
| Gross operating margin | 9900 | €632,208 | €671,643 | +€39,435 | +6.2% |
| Operating profit (loss) | 9901 | €73,866 | €138,242 | +€64,376 | +87.2% |
| Financial income | 75/76B | €5,453 | €610 | -€4,842 | -88.8% |
| Recurring financial income | 75 | €5,453 | €610 | -€4,842 | -88.8% |
| Financial charges | 65/66B | €37,659 | €26,879 | -€10,781 | -28.6% |
| Recurring financial charges | 65 | €37,659 | €26,879 | -€10,781 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €41,659 | €111,974 | +€70,315 | +168.8% |
| Income taxes | 67/77 | €15,010 | €29,745 | +€14,735 | +98.2% |
| Profit (loss) for the period | 9904 | €26,649 | €82,229 | +€55,580 | +208.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,649 | €82,229 | +€55,580 | +208.6% |
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 8 October 2026 via checked.be.