AIRLINE: 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.
AIRLINE
Largest movements
- Receivables within one year -€253,816
down €253,816 (-56.4%), from €449,761 to €195,945
of which Other amounts receivable: -€242,127
- Cash -€196,759
down €196,759 (-61.4%), from €320,418 to €123,659
mainly Trade debts (-€365,391) and Contributions, distributions and other (-€90,000)
- Tangible fixed assets -€57,676
down €57,676 (-15.7%), from €366,370 to €308,694
of which Furniture and vehicles: -€36,317
- Stocks and contracts +€23,500
up €23,500 (+34.6%), from €68,000 to €91,500
- Intangible fixed assets -€22,576
down €22,576 (-51.2%), from €44,132 to €21,556
- Trade debts -€365,391
down €365,391 (-63.2%), from €577,987 to €212,596
- Debts after one year -€68,673
down €68,673 (-58.6%), from €117,230 to €48,557
- Tax, wage and social debts -€35,365
down €35,365 (-77.4%), from €45,695 to €10,331
of which Remuneration and social security: -€25,801
- Other debts -€20,000
down €20,000 (-18.2%), from €110,000 to €90,000
- Current portion of long-term debt -€18,522
down €18,522 (-21.2%), from €87,195 to €68,673
- Gross operating margin -€70,273
down €70,273 (-9.5%), from €736,793 to €666,520
- Staff costs -€36,954
down €36,954 (-7.1%), from €521,453 to €484,499
- Depreciation -€24,213
down €24,213 (-23.2%), from €104,465 to €80,252
- Financial income -€9,952
down €9,952 (-36.4%), from €27,326 to €17,374
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 | €1,269,827 | €764,676 | -€505,151 | -39.8% |
| Fixed assets | 21/28 | €410,865 | €330,613 | -€80,252 | -19.5% |
| Intangible fixed assets | 21 | €44,132 | €21,556 | -€22,576 | -51.2% |
| Tangible fixed assets | 22/27 | €366,370 | €308,694 | -€57,676 | -15.7% |
| Land and buildings | 22 | €225,145 | €212,019 | -€13,126 | -5.8% |
| Plant, machinery and equipment | 23 | €40,054 | €31,821 | -€8,233 | -20.6% |
| Furniture and vehicles | 24 | €101,171 | €64,854 | -€36,317 | -35.9% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €858,962 | €434,063 | -€424,898 | -49.5% |
| Stocks and contracts in progress | 3 | €68,000 | €91,500 | +€23,500 | +34.6% |
| Stocks | 30/36 | €68,000 | €91,500 | +€23,500 | +34.6% |
| Amounts receivable within one year | 40/41 | €449,761 | €195,945 | -€253,816 | -56.4% |
| Trade receivables | 40 | €180,843 | €169,154 | -€11,689 | -6.5% |
| Other amounts receivable | 41 | €268,918 | €26,791 | -€242,127 | -90.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €320,418 | €123,659 | -€196,759 | -61.4% |
| Deferred charges and accrued income | 490/1 | €20,783 | €22,960 | +€2,177 | +10.5% |
| Total equity and liabilities | 10/49 | €1,269,827 | €764,676 | -€505,151 | -39.8% |
| Equity | 10/15 | €330,289 | €334,519 | +€4,230 | +1.3% |
| Contributions | 10/11 | €6,941 | €6,941 | = | 0.0% |
| Reserves | 13 | €323,348 | €327,578 | +€4,230 | +1.3% |
| Tax-exempt reserves | 132 | €26,941 | €26,941 | = | 0.0% |
| Distributable reserves | 133 | €296,407 | €300,637 | +€4,230 | +1.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €939,538 | €430,157 | -€509,381 | -54.2% |
| Amounts payable after more than one year | 17 | €117,230 | €48,557 | -€68,673 | -58.6% |
| Financial debts | 170/4 | €117,230 | €48,557 | -€68,673 | -58.6% |
| Amounts payable within one year | 42/48 | €822,308 | €381,600 | -€440,708 | -53.6% |
| Current portion of amounts payable after more than one year | 42 | €87,195 | €68,673 | -€18,522 | -21.2% |
| Financial debts | 43 | €1,430 | €0 | -€1,430 | -100% |
| Credit institutions | 430/8 | €1,430 | €0 | -€1,430 | -100% |
| Trade debts | 44 | €577,987 | €212,596 | -€365,391 | -63.2% |
| Suppliers | 440/4 | €577,987 | €212,596 | -€365,391 | -63.2% |
| Taxes, remuneration and social security | 45 | €45,695 | €10,331 | -€35,365 | -77.4% |
| Taxes | 450/3 | €19,894 | €10,331 | -€9,564 | -48.1% |
| Remuneration and social security | 454/9 | €25,801 | €0 | -€25,801 | -100% |
| Other amounts payable | 47/48 | €110,000 | €90,000 | -€20,000 | -18.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €229 | €0 | -€229 | -100% |
| Remuneration, social security and pensions | 62 | €521,453 | €484,499 | -€36,954 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,465 | €80,252 | -€24,213 | -23.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €7,930 | €10,347 | +€2,417 | +30.5% |
| Non-recurring operating charges | 66A | €231 | €0 | -€231 | -100% |
| Gross operating margin | 9900 | €736,793 | €666,520 | -€70,273 | -9.5% |
| Operating profit (loss) | 9901 | €102,714 | €91,421 | -€11,293 | -11.0% |
| Financial income | 75/76B | €27,326 | €17,374 | -€9,952 | -36.4% |
| Recurring financial income | 75 | €27,326 | €17,374 | -€9,952 | -36.4% |
| Financial charges | 65/66B | €8,994 | €5,593 | -€3,401 | -37.8% |
| Recurring financial charges | 65 | €8,994 | €5,593 | -€3,401 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €121,046 | €103,202 | -€17,844 | -14.7% |
| Income taxes | 67/77 | €7,286 | €8,972 | +€1,686 | +23.1% |
| Profit (loss) for the period | 9904 | €113,760 | €94,230 | -€19,530 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €113,760 | €94,230 | -€19,530 | -17.2% |
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 15 October 2026 via checked.be.