AirSmart: 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.
AirSmart
Largest movements
- Stocks and contracts +€109,186
up €109,186 (+23.1%), from €471,674 to €580,860
- Tangible fixed assets +€81,115
up €81,115 (+71.6%), from €113,278 to €194,393
of which Plant, machinery and equipment: +€181,825
- Intangible fixed assets -€20,637
down €20,637 (-4.1%), from €502,537 to €481,900
- Debts after one year +€200,848
up €200,848 (+31.2%), from €644,653 to €845,501
- Other debts -€100,000
down €100,000 (-100%), from €100,000 to €0
- Trade debts +€88,367
up €88,367 (+26.9%), from €328,120 to €416,488
- Short-term financial debts -€40,000
down €40,000 (-100%), from €40,000 to €0
- Gross operating margin +€57,001
up €57,001 (+20.5%), from €278,733 to €335,734
- Depreciation +€35,030
up €35,030 (+20.4%), from €171,489 to €206,519
- Staff costs -€28,508
down €28,508 (-20.6%), from €138,317 to €109,809
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 | €1,443,946 | €1,595,762 | +€151,816 | +10.5% |
| Fixed assets | 21/28 | €616,933 | €677,411 | +€60,478 | +9.8% |
| Intangible fixed assets | 21 | €502,537 | €481,900 | -€20,637 | -4.1% |
| Tangible fixed assets | 22/27 | €113,278 | €194,393 | +€81,115 | +71.6% |
| Plant, machinery and equipment | 23 | €8,577 | €190,403 | +€181,825 | +2,120% |
| Furniture and vehicles | 24 | €1,401 | €3,990 | +€2,589 | +185% |
| Assets under construction and advance payments | 27 | €103,300 | €0 | -€103,300 | -100% |
| Financial fixed assets | 28 | €1,118 | €1,118 | = | 0.0% |
| Current assets | 29/58 | €827,013 | €918,351 | +€91,338 | +11.0% |
| Stocks and contracts in progress | 3 | €471,674 | €580,860 | +€109,186 | +23.1% |
| Stocks | 30/36 | €471,674 | €580,860 | +€109,186 | +23.1% |
| Amounts receivable within one year | 40/41 | €309,126 | €300,044 | -€9,082 | -2.9% |
| Trade receivables | 40 | €307,997 | €300,044 | -€7,953 | -2.6% |
| Other amounts receivable | 41 | €1,129 | €0 | -€1,129 | -100% |
| Cash at bank and in hand | 54/58 | €46,212 | €30,462 | -€15,750 | -34.1% |
| Deferred charges and accrued income | 490/1 | - | €6,985 | +€6,985 | |
| Total equity and liabilities | 10/49 | €1,443,946 | €1,595,762 | +€151,816 | +10.5% |
| Equity | 10/15 | €218,210 | €220,909 | +€2,698 | +1.2% |
| Contributions | 10/11 | €159,500 | €159,500 | = | 0.0% |
| Reserves | 13 | €58,710 | €61,409 | +€2,698 | +4.6% |
| Distributable reserves | 133 | €58,710 | €61,409 | +€2,698 | +4.6% |
| Amounts payable | 17/49 | €1,225,735 | €1,374,853 | +€149,118 | +12.2% |
| Amounts payable after more than one year | 17 | €644,653 | €845,501 | +€200,848 | +31.2% |
| Financial debts | 170/4 | €644,653 | €845,501 | +€200,848 | +31.2% |
| Amounts payable within one year | 42/48 | €581,082 | €529,352 | -€51,730 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €97,252 | €88,087 | -€9,165 | -9.4% |
| Financial debts | 43 | €40,000 | €0 | -€40,000 | -100% |
| Credit institutions | 430/8 | €40,000 | €0 | -€40,000 | -100% |
| Trade debts | 44 | €328,120 | €416,488 | +€88,367 | +26.9% |
| Suppliers | 440/4 | €328,120 | €416,488 | +€88,367 | +26.9% |
| Taxes, remuneration and social security | 45 | €15,710 | €24,777 | +€9,067 | +57.7% |
| Taxes | 450/3 | €15,710 | €24,777 | +€9,067 | +57.7% |
| Other amounts payable | 47/48 | €100,000 | €0 | -€100,000 | -100% |
| Remuneration, social security and pensions | 62 | €138,317 | €109,809 | -€28,508 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,489 | €206,519 | +€35,030 | +20.4% |
| Other operating charges | 640/8 | €2,778 | €1,515 | -€1,263 | -45.5% |
| Gross operating margin | 9900 | €278,733 | €335,734 | +€57,001 | +20.5% |
| Operating profit (loss) | 9901 | -€33,851 | €17,891 | +€51,742 | |
| Financial income | 75/76B | €294 | €115 | -€179 | -60.8% |
| Recurring financial income | 75 | €294 | €115 | -€179 | -60.8% |
| Financial charges | 65/66B | €13,504 | €14,829 | +€1,325 | +9.8% |
| Recurring financial charges | 65 | €13,504 | €14,829 | +€1,325 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | -€47,062 | €3,177 | +€50,238 | |
| Income taxes | 67/77 | €2,171 | €478 | -€1,693 | -78.0% |
| Profit (loss) for the period | 9904 | -€49,233 | €2,698 | +€51,931 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,233 | €2,698 | +€51,931 |
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 17 October 2026 via checked.be.