AIR WIN: 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 WIN
Largest movements
- Tangible fixed assets -€54,264
down €54,264 (-25.7%), from €211,018 to €156,754
of which Furniture and vehicles: -€46,844
- Debts after one year -€52,031
down €52,031 (-42.7%), from €121,993 to €69,962
of which Financial debts: -€52,031
- Profit (loss) carried forward -€13,487
down €13,487, from €675 to -€12,812
- Trade debts +€10,541
up €10,541 (+277.3%), from €3,802 to €14,342
- Other debts +€9,614
up €9,614 (+55.3%), from €17,381 to €26,995
- Tax, wage and social debts -€4,313
down €4,313 (-34.3%), from €12,569 to €8,257
of which Remuneration and social security: -€7,957
- Depreciation +€5,603
up €5,603 (+11.3%), from €49,577 to €55,179
- Staff costs +€5,302
up €5,302 (+6.0%), from €88,669 to €93,970
- Gross operating margin -€3,607
down €3,607 (-2.4%), from €151,173 to €147,567
- Other operating charges -€1,936
down €1,936 (-25.6%), from €7,560 to €5,624
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 | €233,794 | €180,819 | -€52,975 | -22.7% |
| Formation expenses | 20 | €1,166 | €1,166 | = | 0.0% |
| Fixed assets | 21/28 | €211,018 | €156,754 | -€54,264 | -25.7% |
| Tangible fixed assets | 22/27 | €211,018 | €156,754 | -€54,264 | -25.7% |
| Land and buildings | 22 | €71,403 | €63,984 | -€7,419 | -10.4% |
| Furniture and vehicles | 24 | €139,615 | €92,771 | -€46,844 | -33.6% |
| Current assets | 29/58 | €21,610 | €22,899 | +€1,289 | +6.0% |
| Amounts receivable within one year | 40/41 | €21,191 | €22,182 | +€991 | +4.7% |
| Trade receivables | 40 | €11,718 | €19,694 | +€7,976 | +68.1% |
| Other amounts receivable | 41 | €9,473 | €2,488 | -€6,985 | -73.7% |
| Cash at bank and in hand | 54/58 | €294 | €717 | +€423 | +143.9% |
| Deferred charges and accrued income | 490/1 | €125 | - | -€125 | |
| Total equity and liabilities | 10/49 | €233,794 | €180,819 | -€52,975 | -22.7% |
| Equity | 10/15 | €19,275 | €5,788 | -€13,487 | -70.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €675 | -€12,812 | -€13,487 | |
| Amounts payable | 17/49 | €214,518 | €175,031 | -€39,487 | -18.4% |
| Amounts payable after more than one year | 17 | €121,993 | €69,962 | -€52,031 | -42.7% |
| Financial debts | 170/4 | €120,243 | €68,212 | -€52,031 | -43.3% |
| Other amounts payable | 178/9 | €1,750 | €1,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €92,526 | €105,069 | +€12,544 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €54,525 | €52,031 | -€2,494 | -4.6% |
| Financial debts | 43 | €4,249 | €3,444 | -€805 | -18.9% |
| Credit institutions | 430/8 | €4,249 | €3,444 | -€805 | -18.9% |
| Trade debts | 44 | €3,802 | €14,342 | +€10,541 | +277.3% |
| Suppliers | 440/4 | €3,802 | €14,342 | +€10,541 | +277.3% |
| Taxes, remuneration and social security | 45 | €12,569 | €8,257 | -€4,313 | -34.3% |
| Taxes | 450/3 | - | €3,645 | +€3,645 | |
| Remuneration and social security | 454/9 | €12,569 | €4,612 | -€7,957 | -63.3% |
| Other amounts payable | 47/48 | €17,381 | €26,995 | +€9,614 | +55.3% |
| Remuneration, social security and pensions | 62 | €88,669 | €93,970 | +€5,302 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,577 | €55,179 | +€5,603 | +11.3% |
| Other operating charges | 640/8 | €7,560 | €5,624 | -€1,936 | -25.6% |
| Gross operating margin | 9900 | €151,173 | €147,567 | -€3,607 | -2.4% |
| Operating profit (loss) | 9901 | €5,368 | -€7,207 | -€12,574 | |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €6,708 | €6,330 | -€378 | -5.6% |
| Recurring financial charges | 65 | €6,708 | €6,330 | -€378 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,341 | -€13,487 | -€12,147 | -906.1% |
| Profit (loss) for the period | 9904 | -€1,341 | -€13,487 | -€12,147 | -906.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,341 | -€13,487 | -€12,147 | -906.1% |
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 12 October 2026 via checked.be.