AIRMASTER: 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.
AIRMASTER
Largest movements
- Receivables within one year -€65,244
down €65,244 (-11.4%), from €570,802 to €505,558
of which Trade receivables: -€66,950
- Cash -€55,570
down €55,570 (-20.9%), from €265,433 to €209,863
mainly Other debts (-€350,031) and Trade debts (-€3,245)
- Other debts -€350,031
down €350,031 (-72.6%), from €482,246 to €132,215
- Reserves +€126,757
up €126,757 (+178%), from €71,054 to €197,811
- Tax, wage and social debts +€86,753
up €86,753 (+64.8%), from €133,836 to €220,589
of which Taxes: +€63,434
- Advances received +€17,685
up €17,685 (+46.5%), from €37,998 to €55,683
- Gross operating margin +€331,826
up €331,826 (+63.4%), from €522,981 to €854,807
- Staff costs +€247,950
up €247,950 (+58.7%), from €422,054 to €670,004
- Taxes +€19,692
up €19,692 (+60.4%), from €32,620 to €52,312
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 | €850,070 | €725,683 | -€124,387 | -14.6% |
| Fixed assets | 21/28 | €8,340 | €8,340 | = | 0.0% |
| Financial fixed assets | 28 | €8,340 | €8,340 | = | 0.0% |
| Current assets | 29/58 | €841,730 | €717,343 | -€124,387 | -14.8% |
| Stocks and contracts in progress | 3 | - | €393 | +€393 | |
| Stocks | 30/36 | - | €393 | +€393 | |
| Amounts receivable within one year | 40/41 | €570,802 | €505,558 | -€65,244 | -11.4% |
| Trade receivables | 40 | €570,802 | €503,852 | -€66,950 | -11.7% |
| Other amounts receivable | 41 | - | €1,705 | +€1,705 | |
| Cash at bank and in hand | 54/58 | €265,433 | €209,863 | -€55,570 | -20.9% |
| Deferred charges and accrued income | 490/1 | €5,495 | €1,530 | -€3,965 | -72.2% |
| Total equity and liabilities | 10/49 | €850,070 | €725,683 | -€124,387 | -14.6% |
| Equity | 10/15 | €171,054 | €297,811 | +€126,757 | +74.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €71,054 | €197,811 | +€126,757 | +178% |
| Distributable reserves | 133 | €71,054 | €197,811 | +€126,757 | +178% |
| Amounts payable | 17/49 | €679,015 | €427,872 | -€251,144 | -37.0% |
| Amounts payable within one year | 42/48 | €674,551 | €425,713 | -€248,838 | -36.9% |
| Trade debts | 44 | €20,471 | €17,227 | -€3,245 | -15.8% |
| Suppliers | 440/4 | €20,471 | €17,227 | -€3,245 | -15.8% |
| Advances received on contracts in progress | 46 | €37,998 | €55,683 | +€17,685 | +46.5% |
| Taxes, remuneration and social security | 45 | €133,836 | €220,589 | +€86,753 | +64.8% |
| Taxes | 450/3 | €61,913 | €125,346 | +€63,434 | +102% |
| Remuneration and social security | 454/9 | €71,924 | €95,243 | +€23,319 | +32.4% |
| Other amounts payable | 47/48 | €482,246 | €132,215 | -€350,031 | -72.6% |
| Accrued charges and deferred income | 492/3 | €4,464 | €2,158 | -€2,306 | -51.7% |
| Remuneration, social security and pensions | 62 | €422,054 | €670,004 | +€247,950 | +58.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,944 | -€2,465 | +€3,479 | +58.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,465 | €440 | -€2,025 | -82.1% |
| Other operating charges | 640/8 | €1,712 | €2,680 | +€968 | +56.5% |
| Non-recurring operating charges | 66A | - | €826 | +€826 | |
| Gross operating margin | 9900 | €522,981 | €854,807 | +€331,826 | +63.4% |
| Operating profit (loss) | 9901 | €102,694 | €183,321 | +€80,628 | +78.5% |
| Financial income | 75/76B | €5,504 | €2,677 | -€2,827 | -51.4% |
| Recurring financial income | 75 | €5,504 | €2,677 | -€2,827 | -51.4% |
| Financial charges | 65/66B | €4,523 | €6,929 | +€2,406 | +53.2% |
| Recurring financial charges | 65 | €4,523 | €6,929 | +€2,406 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €103,674 | €179,069 | +€75,395 | +72.7% |
| Income taxes | 67/77 | €32,620 | €52,312 | +€19,692 | +60.4% |
| Profit (loss) for the period | 9904 | €71,054 | €126,757 | +€55,703 | +78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,054 | €126,757 | +€55,703 | +78.4% |
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 13 October 2026 via checked.be.