Air Transport Performance: what changed
Air Transport Performance
Largest movements
- Current investments +€73,071
up €73,071 (+36.2%), from €201,750 to €274,821
- Cash +€30,959
up €30,959 (+178%), from €17,419 to €48,378
mainly Net result for the year (+€71,570) and Depreciation (+€26,842)
- Tangible fixed assets -€24,295
down €24,295 (-6.6%), from €367,139 to €342,844
of which Land and buildings: -€21,830
- Receivables within one year -€9,161
down €9,161 (-27.8%), from €32,956 to €23,794
of which Other amounts receivable: -€7,274
- Reserves +€71,570
up €71,570 (+18.7%), from €381,950 to €453,519
of which Distributable reserves: +€71,570
- Tax, wage and social debts +€11,631
up €11,631 (+267%), from €4,348 to €15,979
- Debts after one year -€8,484
down €8,484 (-3.9%), from €216,130 to €207,647
- Gross operating margin +€10,433
up €10,433 (+8.4%), from €124,812 to €135,245
- Taxes +€8,680
up €8,680 (+33.8%), from €25,668 to €34,349
- Financial income +€3,293
up €3,293 (+184%), from €1,785 to €5,078
of which Financial income: +€5,077
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €621,379 | €691,895 | +€70,516 | +11.3% |
| Fixed assets | 21/28 | €367,139 | €342,844 | -€24,295 | -6.6% |
| Tangible fixed assets | 22/27 | €367,139 | €342,844 | -€24,295 | -6.6% |
| Land and buildings | 22 | €354,631 | €332,802 | -€21,830 | -6.2% |
| Plant, machinery and equipment | 23 | €2,705 | €1,670 | -€1,035 | -38.3% |
| Furniture and vehicles | 24 | €9,803 | €8,372 | -€1,430 | -14.6% |
| Current assets | 29/58 | €254,240 | €349,051 | +€94,810 | +37.3% |
| Amounts receivable within one year | 40/41 | €32,956 | €23,794 | -€9,161 | -27.8% |
| Trade receivables | 40 | €25,681 | €23,794 | -€1,887 | -7.3% |
| Other amounts receivable | 41 | €7,274 | €0 | -€7,274 | -100% |
| Current investments | 50/53 | €201,750 | €274,821 | +€73,071 | +36.2% |
| Cash at bank and in hand | 54/58 | €17,419 | €48,378 | +€30,959 | +178% |
| Deferred charges and accrued income | 490/1 | €2,115 | €2,058 | -€58 | -2.7% |
| Total equity and liabilities | 10/49 | €621,379 | €691,895 | +€70,516 | +11.3% |
| Equity | 10/15 | €381,950 | €453,519 | +€71,570 | +18.7% |
| Reserves | 13 | €381,950 | €453,519 | +€71,570 | +18.7% |
| Tax-exempt reserves | 132 | €42,100 | €42,100 | = | 0.0% |
| Distributable reserves | 133 | €339,850 | €411,419 | +€71,570 | +21.1% |
| Amounts payable | 17/49 | €239,429 | €238,375 | -€1,054 | -0.4% |
| Amounts payable after more than one year | 17 | €216,130 | €207,647 | -€8,484 | -3.9% |
| Financial debts | 170/4 | €216,130 | €207,647 | -€8,484 | -3.9% |
| Amounts payable within one year | 42/48 | €23,299 | €30,729 | +€7,430 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €8,360 | €8,484 | +€123 | +1.5% |
| Trade debts | 44 | €8,019 | €3,879 | -€4,140 | -51.6% |
| Suppliers | 440/4 | €8,019 | €3,879 | -€4,140 | -51.6% |
| Taxes, remuneration and social security | 45 | €4,348 | €15,979 | +€11,631 | +267% |
| Taxes | 450/3 | €4,348 | €15,979 | +€11,631 | +267% |
| Other amounts payable | 47/48 | €2,571 | €2,387 | -€184 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,991 | €26,842 | -€149 | -0.6% |
| Other operating charges | 640/8 | €1,678 | €1,952 | +€275 | +16.4% |
| Gross operating margin | 9900 | €124,812 | €135,245 | +€10,433 | +8.4% |
| Operating profit (loss) | 9901 | €96,143 | €106,451 | +€10,308 | +10.7% |
| Financial income | 75/76B | €1,785 | €5,078 | +€3,293 | +184% |
| Recurring financial income | 75 | €1 | €5,078 | +€5,077 | +483,552% |
| Non-recurring financial income | 76B | €1,784 | €0 | -€1,784 | -100% |
| Financial charges | 65/66B | €5,385 | €5,611 | +€226 | +4.2% |
| Recurring financial charges | 65 | €5,353 | €5,611 | +€258 | +4.8% |
| Non-recurring financial charges | 66B | €32 | €0 | -€32 | -100% |
| Profit (loss) for the period before taxes | 9903 | €92,544 | €105,919 | +€13,375 | +14.5% |
| Income taxes | 67/77 | €25,668 | €34,349 | +€8,680 | +33.8% |
| Profit (loss) for the period | 9904 | €66,875 | €71,570 | +€4,694 | +7.0% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €0 | -€42,100 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €24,775 | €71,570 | +€46,794 | +189% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.