Airelle: 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.
Airelle
Largest movements
- Cash -€885,720
down €885,720 (-78.7%), from €1.1m to €239,231
mainly Other debts (-€785,975) and Debts after one year (-€200,475)
- Financial fixed assets +€179,347
up €179,347 (+7.0%), from €2.6m to €2.8m
- Tangible fixed assets -€88,896
down €88,896 (-5.1%), from €1.7m to €1.6m
of which Land and buildings: -€65,744
- Receivables after one year -€59,804
down €59,804 (-100%), from €59,804 to €0
- Other debts -€785,975
down €785,975 (-30.7%), from €2.6m to €1.8m
- Debts after one year -€200,475
down €200,475 (-16.6%), from €1.2m to €1.0m
- Reserves +€63,000
up €63,000 (+18.0%), from €349,561 to €412,561
- Financial income -€23,156
down €23,156 (-51.0%), from €45,383 to €22,227
- Gross operating margin +€13,518
up €13,518 (+6.1%), from €220,101 to €233,619
- Other operating charges -€11,118
down €11,118 (-40.8%), from €27,218 to €16,101
- Financial charges +€9,420
up €9,420 (+18.8%), from €50,104 to €59,524
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 | €5,585,525 | €4,683,787 | -€901,738 | -16.1% |
| Fixed assets | 21/28 | €4,311,810 | €4,402,262 | +€90,452 | +2.1% |
| Tangible fixed assets | 22/27 | €1,733,402 | €1,644,506 | -€88,896 | -5.1% |
| Land and buildings | 22 | €1,612,890 | €1,547,146 | -€65,744 | -4.1% |
| Plant, machinery and equipment | 23 | €104,303 | €88,562 | -€15,742 | -15.1% |
| Furniture and vehicles | 24 | €16,208 | €8,798 | -€7,410 | -45.7% |
| Financial fixed assets | 28 | €2,578,408 | €2,757,755 | +€179,347 | +7.0% |
| Current assets | 29/58 | €1,273,715 | €281,526 | -€992,190 | -77.9% |
| Amounts receivable after more than one year | 29 | €59,804 | €0 | -€59,804 | -100% |
| Other amounts receivable | 291 | €59,804 | €0 | -€59,804 | -100% |
| Amounts receivable within one year | 40/41 | €87,405 | €36,897 | -€50,507 | -57.8% |
| Trade receivables | 40 | €32,439 | €26,897 | -€5,542 | -17.1% |
| Other amounts receivable | 41 | €54,966 | €10,000 | -€44,966 | -81.8% |
| Cash at bank and in hand | 54/58 | €1,124,951 | €239,231 | -€885,720 | -78.7% |
| Deferred charges and accrued income | 490/1 | €1,556 | €5,398 | +€3,842 | +247% |
| Total equity and liabilities | 10/49 | €5,585,525 | €4,683,787 | -€901,738 | -16.1% |
| Equity | 10/15 | €1,590,499 | €1,654,261 | +€63,762 | +4.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €349,561 | €412,561 | +€63,000 | +18.0% |
| Distributable reserves | 133 | €349,561 | €412,561 | +€63,000 | +18.0% |
| Profit (loss) carried forward | 14 | €1,220,939 | €1,221,700 | +€762 | +0.1% |
| Amounts payable | 17/49 | €3,995,026 | €3,029,526 | -€965,500 | -24.2% |
| Amounts payable after more than one year | 17 | €1,207,103 | €1,006,627 | -€200,475 | -16.6% |
| Financial debts | 170/4 | €1,207,103 | €1,006,627 | -€200,475 | -16.6% |
| Amounts payable within one year | 42/48 | €2,776,349 | €2,011,325 | -€765,024 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €198,865 | €200,475 | +€1,611 | +0.8% |
| Trade debts | 44 | €796 | €4,072 | +€3,276 | +412% |
| Suppliers | 440/4 | €796 | €4,072 | +€3,276 | +412% |
| Taxes, remuneration and social security | 45 | €17,509 | €33,573 | +€16,063 | +91.7% |
| Taxes | 450/3 | €15,209 | €31,273 | +€16,063 | +106% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €2,559,179 | €1,773,204 | -€785,975 | -30.7% |
| Accrued charges and deferred income | 492/3 | €11,574 | €11,574 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,620 | €88,896 | +€276 | +0.3% |
| Other operating charges | 640/8 | €27,218 | €16,101 | -€11,118 | -40.8% |
| Non-recurring operating charges | 66A | €3,495 | €0 | -€3,495 | -100% |
| Gross operating margin | 9900 | €220,101 | €233,619 | +€13,518 | +6.1% |
| Operating profit (loss) | 9901 | €100,768 | €128,622 | +€27,855 | +27.6% |
| Financial income | 75/76B | €45,383 | €22,227 | -€23,156 | -51.0% |
| Recurring financial income | 75 | €45,383 | €22,227 | -€23,156 | -51.0% |
| Financial charges | 65/66B | €50,104 | €59,524 | +€9,420 | +18.8% |
| Recurring financial charges | 65 | €50,104 | €59,524 | +€9,420 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €96,046 | €91,325 | -€4,721 | -4.9% |
| Income taxes | 67/77 | €26,729 | €27,564 | +€835 | +3.1% |
| Profit (loss) for the period | 9904 | €69,317 | €63,762 | -€5,555 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €69,317 | €63,762 | -€5,555 | -8.0% |
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 25 October 2026 via checked.be.