AIRBAT: 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.
AIRBAT
Largest movements
- Tangible fixed assets -€23,907
down €23,907 (-29.1%), from €82,117 to €58,210
- Cash -€23,805
down €23,805 (-53.5%), from €44,471 to €20,666
mainly Debts after one year (-€69,548) and Investment in fixed assets (net) (-€3,870)
- Intangible fixed assets -€1,794
down €1,794 (-57.2%), from €3,136 to €1,342
- Debts after one year -€69,548
down €69,548 (-51.1%), from €136,033 to €66,484
- Profit (loss) carried forward +€9,617
up €9,617 (+15.3%), from -€62,650 to -€53,034
- Current portion of long-term debt +€8,422
up €8,422 (+39.2%), from €21,481 to €29,903
- Tax, wage and social debts +€3,618
up €3,618 (+72.9%), from €4,964 to €8,581
- Gross operating margin +€22,250
up €22,250 (+93.6%), from €23,775 to €46,026
- Depreciation -€3,066
down €3,066 (-9.4%), from €32,638 to €29,572
- Financial charges +€834
up €834 (+24.4%), from €3,410 to €4,244
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 | €145,812 | €97,595 | -€48,217 | -33.1% |
| Fixed assets | 21/28 | €90,406 | €64,704 | -€25,702 | -28.4% |
| Intangible fixed assets | 21 | €3,136 | €1,342 | -€1,794 | -57.2% |
| Tangible fixed assets | 22/27 | €82,117 | €58,210 | -€23,907 | -29.1% |
| Plant, machinery and equipment | 23 | €17,927 | €10,024 | -€7,903 | -44.1% |
| Furniture and vehicles | 24 | €1,825 | €892 | -€933 | -51.1% |
| Leasing and similar rights | 25 | €45,411 | €34,887 | -€10,524 | -23.2% |
| Other tangible fixed assets | 26 | €16,955 | €12,408 | -€4,548 | -26.8% |
| Financial fixed assets | 28 | €5,153 | €5,153 | = | 0.0% |
| Current assets | 29/58 | €55,406 | €32,891 | -€22,515 | -40.6% |
| Stocks and contracts in progress | 3 | €2,105 | €3,330 | +€1,225 | +58.2% |
| Stocks | 30/36 | €2,105 | €3,330 | +€1,225 | +58.2% |
| Amounts receivable within one year | 40/41 | €8,542 | €8,788 | +€246 | +2.9% |
| Trade receivables | 40 | €5,825 | €3,870 | -€1,955 | -33.6% |
| Other amounts receivable | 41 | €2,717 | €4,918 | +€2,201 | +81.0% |
| Cash at bank and in hand | 54/58 | €44,471 | €20,666 | -€23,805 | -53.5% |
| Deferred charges and accrued income | 490/1 | €288 | €107 | -€181 | -62.8% |
| Total equity and liabilities | 10/49 | €145,812 | €97,595 | -€48,217 | -33.1% |
| Equity | 10/15 | -€23,450 | -€13,834 | +€9,617 | +41.0% |
| Contributions | 10/11 | €39,200 | €39,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,650 | -€53,034 | +€9,617 | +15.3% |
| Amounts payable | 17/49 | €169,262 | €111,429 | -€57,833 | -34.2% |
| Amounts payable after more than one year | 17 | €136,033 | €66,484 | -€69,548 | -51.1% |
| Financial debts | 170/4 | €136,033 | €66,484 | -€69,548 | -51.1% |
| Amounts payable within one year | 42/48 | €32,875 | €44,945 | +€12,070 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €21,481 | €29,903 | +€8,422 | +39.2% |
| Trade debts | 44 | €5,084 | €5,409 | +€325 | +6.4% |
| Suppliers | 440/4 | €5,084 | €5,409 | +€325 | +6.4% |
| Taxes, remuneration and social security | 45 | €4,964 | €8,581 | +€3,618 | +72.9% |
| Taxes | 450/3 | €4,964 | €8,581 | +€3,618 | +72.9% |
| Other amounts payable | 47/48 | €1,346 | €1,051 | -€294 | -21.9% |
| Accrued charges and deferred income | 492/3 | €355 | - | -€355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,638 | €29,572 | -€3,066 | -9.4% |
| Other operating charges | 640/8 | €2,427 | €2,403 | -€24 | -1.0% |
| Gross operating margin | 9900 | €23,775 | €46,026 | +€22,250 | +93.6% |
| Operating profit (loss) | 9901 | -€11,290 | €14,051 | +€25,341 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -94.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -94.6% |
| Financial charges | 65/66B | €3,410 | €4,244 | +€834 | +24.4% |
| Recurring financial charges | 65 | €3,410 | €4,244 | +€834 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | -€14,700 | €9,807 | +€24,507 | |
| Income taxes | 67/77 | €137 | €190 | +€53 | +38.5% |
| Profit (loss) for the period | 9904 | -€14,837 | €9,617 | +€24,454 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,837 | €9,617 | +€24,454 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.