AIRSPACE: what changed
Two fiscal 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.
AIRSPACE
Largest movements
- Tangible fixed assets -€322,043
down €322,043 (-12.2%), from €2.6m to €2.3m
of which Land and buildings: -€320,992
- Cash +€55,078
up €55,078 (+10.3%), from €535,498 to €590,576
mainly Depreciation (+€331,251) and Trade debts (+€94,920)
- Profit (loss) carried forward -€178,964
down €178,964 (-55.4%), from -€322,774 to -€501,738
- Debts after one year -€101,533
down €101,533 (-6.7%), from €1.5m to €1.4m
- Trade debts +€94,920
up €94,920 (+166.7%), from €56,925 to €151,845
- Current portion of long-term debt -€67,260
down €67,260 (-39.8%), from €168,794 to €101,533
- Investment grants -€62,281
down €62,281 (-14.2%), from €438,693 to €376,413
- Staff costs -€118,477
down €118,477 (-22.9%), from €517,761 to €399,285
- Gross operating margin -€38,766
down €38,766 (-6.0%), from €647,151 to €608,384
- Financial charges -€8,760
down €8,760 (-9.2%), from €95,441 to €86,681
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.
Cash bridge derived
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 | €3,284,886 | €3,009,052 | -€275,834 | -8.4% |
| Fixed assets | 21/28 | €2,647,977 | €2,325,933 | -€322,043 | -12.2% |
| Tangible fixed assets | 22/27 | €2,645,667 | €2,323,623 | -€322,043 | -12.2% |
| Land and buildings | 22 | €2,625,784 | €2,304,793 | -€320,992 | -12.2% |
| Furniture and vehicles | 24 | €19,882 | €18,831 | -€1,051 | -5.3% |
| Financial fixed assets | 28 | €2,310 | €2,310 | = | 0.0% |
| Current assets | 29/58 | €636,909 | €683,118 | +€46,209 | +7.3% |
| Stocks and contracts in progress | 3 | €29,406 | €29,690 | +€284 | +1.0% |
| Stocks | 30/36 | €29,406 | €29,690 | +€284 | +1.0% |
| Amounts receivable within one year | 40/41 | €57,943 | €55,294 | -€2,649 | -4.6% |
| Trade receivables | 40 | €21,298 | €55,294 | +€33,996 | +159.6% |
| Other amounts receivable | 41 | €36,645 | €0 | -€36,645 | -100.0% |
| Cash at bank and in hand | 54/58 | €535,498 | €590,576 | +€55,078 | +10.3% |
| Deferred charges and accrued income | 490/1 | €14,062 | €7,559 | -€6,503 | -46.2% |
| Total equity and liabilities | 10/49 | €3,284,886 | €3,009,052 | -€275,834 | -8.4% |
| Equity | 10/15 | €830,919 | €589,675 | -€241,245 | -29.0% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €65,000 | €65,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €65,000 | €65,000 | = | 0.0% |
| Legal reserve | 130 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€322,774 | -€501,738 | -€178,964 | -55.4% |
| Investment grants | 15 | €438,693 | €376,413 | -€62,281 | -14.2% |
| Amounts payable | 17/49 | €2,453,967 | €2,419,377 | -€34,590 | -1.4% |
| Amounts payable after more than one year | 17 | €1,509,864 | €1,408,331 | -€101,533 | -6.7% |
| Financial debts | 170/4 | €1,509,864 | €1,408,331 | -€101,533 | -6.7% |
| Amounts payable within one year | 42/48 | €286,119 | €319,797 | +€33,678 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €168,794 | €101,533 | -€67,260 | -39.8% |
| Trade debts | 44 | €56,925 | €151,845 | +€94,920 | +166.7% |
| Suppliers | 440/4 | €56,925 | €151,845 | +€94,920 | +166.7% |
| Advances received on contracts in progress | 46 | €9,934 | €3,623 | -€6,312 | -63.5% |
| Taxes, remuneration and social security | 45 | €49,620 | €61,951 | +€12,331 | +24.8% |
| Taxes | 450/3 | €5,344 | €9,680 | +€4,337 | +81.2% |
| Remuneration and social security | 454/9 | €44,277 | €52,270 | +€7,994 | +18.1% |
| Other amounts payable | 47/48 | €845 | €845 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €657,984 | €691,250 | +€33,265 | +5.1% |
| Remuneration, social security and pensions | 62 | €517,761 | €399,285 | -€118,477 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,092 | €331,251 | +€1,159 | +0.4% |
| Other operating charges | 640/8 | €19,697 | €21,020 | +€1,323 | +6.7% |
| Non-recurring operating charges | 66A | €2,739 | €11,566 | +€8,827 | +322.3% |
| Gross operating margin | 9900 | €647,151 | €608,384 | -€38,766 | -6.0% |
| Operating profit (loss) | 9901 | -€223,138 | -€154,738 | +€68,401 | +30.7% |
| Financial income | 75/76B | €62,326 | €62,711 | +€385 | +0.6% |
| Recurring financial income | 75 | €62,326 | €62,711 | +€385 | +0.6% |
| Financial charges | 65/66B | €95,441 | €86,681 | -€8,760 | -9.2% |
| Recurring financial charges | 65 | €95,441 | €86,681 | -€8,760 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€256,254 | -€178,707 | +€77,547 | +30.3% |
| Income taxes | 67/77 | €431 | €256 | -€175 | -40.5% |
| Profit (loss) for the period | 9904 | -€256,685 | -€178,964 | +€77,721 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€256,685 | -€178,964 | +€77,721 | +30.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.