Airelle Project: 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 Project
Largest movements
- Cash +€13,193
up €13,193 (+12.8%), from €103,037 to €116,230
mainly Net result for the year (+€19,604) and Tax, wage and social debts (+€7,826)
- Receivables within one year +€2,519
up €2,519 (+22.1%), from €11,378 to €13,897
of which Other amounts receivable: +€1,309
- Reserves +€19,500
up €19,500 (+22.8%), from €85,523 to €105,023
of which Distributable reserves: +€19,500
- Other debts -€9,144
down €9,144 (-75.3%), from €12,140 to €2,995
- Tax, wage and social debts +€7,826
up €7,826 (+528%), from €1,481 to €9,308
of which Taxes: +€5,449
- Trade debts -€2,268
down €2,268 (-44.7%), from €5,077 to €2,809
- Gross operating margin +€12,072
up €12,072 (+64.3%), from €18,783 to €30,855
- Depreciation -€8,236
down €8,236 (-88.8%), from €9,275 to €1,039
- Taxes +€3,291
up €3,291 (+60.4%), from €5,447 to €8,739
- Write-downs -€2,325
down €2,325 (-100%), from €2,325 to €0
- Other operating charges -€546
down €546 (-34.8%), from €1,569 to €1,023
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 | €116,945 | €132,959 | +€16,014 | +13.7% |
| Fixed assets | 21/28 | €975 | €572 | -€403 | -41.3% |
| Tangible fixed assets | 22/27 | €950 | €547 | -€403 | -42.4% |
| Furniture and vehicles | 24 | €950 | €547 | -€403 | -42.4% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €115,970 | €132,386 | +€16,417 | +14.2% |
| Amounts receivable within one year | 40/41 | €11,378 | €13,897 | +€2,519 | +22.1% |
| Trade receivables | 40 | €11,378 | €12,588 | +€1,210 | +10.6% |
| Other amounts receivable | 41 | - | €1,309 | +€1,309 | |
| Cash at bank and in hand | 54/58 | €103,037 | €116,230 | +€13,193 | +12.8% |
| Deferred charges and accrued income | 490/1 | €1,554 | €2,259 | +€705 | +45.4% |
| Total equity and liabilities | 10/49 | €116,945 | €132,959 | +€16,014 | +13.7% |
| Equity | 10/15 | €98,235 | €117,839 | +€19,604 | +20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,523 | €105,023 | +€19,500 | +22.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €85,523 | €105,023 | +€19,500 | +22.8% |
| Profit (loss) carried forward | 14 | €6,512 | €6,616 | +€104 | +1.6% |
| Amounts payable | 17/49 | €18,710 | €15,120 | -€3,590 | -19.2% |
| Amounts payable within one year | 42/48 | €18,698 | €15,112 | -€3,586 | -19.2% |
| Trade debts | 44 | €5,077 | €2,809 | -€2,268 | -44.7% |
| Suppliers | 440/4 | €5,077 | €2,809 | -€2,268 | -44.7% |
| Taxes, remuneration and social security | 45 | €1,481 | €9,308 | +€7,826 | +528% |
| Taxes | 450/3 | €1,481 | €6,930 | +€5,449 | +368% |
| Remuneration and social security | 454/9 | - | €2,377 | +€2,377 | |
| Other amounts payable | 47/48 | €12,140 | €2,995 | -€9,144 | -75.3% |
| Accrued charges and deferred income | 492/3 | €12 | €8 | -€5 | -39.4% |
| Remuneration, social security and pensions | 62 | €0 | €340 | +€340 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,275 | €1,039 | -€8,236 | -88.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,325 | €0 | -€2,325 | -100% |
| Other operating charges | 640/8 | €1,569 | €1,023 | -€546 | -34.8% |
| Gross operating margin | 9900 | €18,783 | €30,855 | +€12,072 | +64.3% |
| Operating profit (loss) | 9901 | €5,614 | €28,453 | +€22,840 | +407% |
| Financial income | 75/76B | €253 | €140 | -€113 | -44.5% |
| Recurring financial income | 75 | €253 | €140 | -€113 | -44.5% |
| Financial charges | 65/66B | €192 | €251 | +€58 | +30.4% |
| Recurring financial charges | 65 | €192 | €251 | +€58 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €5,674 | €28,343 | +€22,669 | +399% |
| Income taxes | 67/77 | €5,447 | €8,739 | +€3,291 | +60.4% |
| Profit (loss) for the period | 9904 | €227 | €19,604 | +€19,377 | +8,537% |
| Profit (loss) for the period to be appropriated | 9905 | €227 | €19,604 | +€19,377 | +8,537% |
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 16 October 2026 via checked.be.