AIRWATEC: 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.
What changed
AIRWATEC
NACE 28.295, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.9m
2024 · €2.4m-€526,542
Equity
€4.9m
2024 · €8.2m-€3.3m
Cash
€763,280
2024 · €206,557+€556,724
Balance sheet total
€7.5m
2024 · €9.4m-€1.9m
Largest movements
Assets
- Current investments -€2.4m
down €2.4m (-72.3%), from €3.4m to €940,357
- Cash +€556,724
up €556,724 (+270%), from €206,557 to €763,280
mainly Current investments (+€2.4m) and Net result for the year (+€1.9m)
- Stocks and contracts +€127,526
up €127,526 (+5.4%), from €2.4m to €2.5m
of which Stocks: +€177,473
Equity and liabilities
- Profit (loss) carried forward -€3.3m
down €3.3m (-59.0%), from €5.6m to €2.3m
- Other debts +€1.6m
new in 2025: €1.6m
- Tax, wage and social debts -€138,792
down €138,792 (-19.9%), from €696,573 to €557,781
of which Taxes: -€130,562
- Advances received -€94,427
down €94,427 (-70.5%), from €134,031 to €39,604
Income statement
- Turnover +€1.3m
up €1.3m (+10.0%), from €12.8m to €14.0m
- Services and other goods +€904,757
up €904,757 (+39.0%), from €2.3m to €3.2m
- Goods and materials +€499,826
up €499,826 (+9.7%), from €5.1m to €5.6m
of which Purchases: +€607,416
- Provisions +€241,999
no longer reported in 2025 (was -€241,999)
- Taxes -€184,011
down €184,011 (-22.1%), from €832,607 to €648,596
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.
Result 2024
€2.4m
Turnover
+€1.3m
Other operating income
-€57,842
Goods and materials
-€499,826
Services and other goods
-€904,757
Staff costs
-€152,342
Depreciation
-€6,103
Write-downs
-€26,622
Provisions
-€241,999
Other operating charges
-€875
Other operating items
+€39,336
Financial income
-€127,602
Financial charges
-€2,353
Taxes
+€184,011
Deferred taxes and other
-€11
Result 2025
€1.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.7m
Investment
+€2.1m
Financing
-€5.2m
Cash 2024
€206,557
From operations (derived)
+€3.7m
Net result for the year
+€1.9m
Depreciation
+€455,294
Stocks and contracts
-€127,526
Receivables within one year
+€87,316
Deferred charges and accrued income
+€18,276
Smaller working-capital items
-€828
Trade debts
-€14,816
Tax, wage and social debts
-€138,792
Advances received
-€94,427
Other debts
+€1.6m
Investment (derived)
+€2.1m
Investment in fixed assets (net)
-€392,966
Current investments
+€2.4m
Financing
-€5.2m
Contributions, distributions and other
-€5.2m
Cash 2025
€763,280
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,424,030 | €7,490,716 | -€1.9m | -20.5% |
| Fixed assets | 21/28 | €1,697,974 | €1,635,646 | -€62,328 | -3.7% |
| Intangible fixed assets | 21 | €6,389 | €6,157 | -€232 | -3.6% |
| Tangible fixed assets | 22/27 | €1,691,585 | €1,629,489 | -€62,096 | -3.7% |
| Land and buildings | 22 | €200,119 | €173,036 | -€27,084 | -13.5% |
| Plant, machinery and equipment | 23 | €1,235,011 | €1,223,008 | -€12,004 | -1.0% |
| Furniture and vehicles | 24 | €256,454 | €221,120 | -€35,334 | -13.8% |
| Assets under construction and advance payments | 27 | - | €12,325 | +€12,325 | |
| Current assets | 29/58 | €7,726,056 | €5,855,071 | -€1.9m | -24.2% |
| Stocks and contracts in progress | 3 | €2,359,972 | €2,487,497 | +€127,526 | +5.4% |
| Stocks | 30/36 | €2,304,668 | €2,482,140 | +€177,473 | +7.7% |
| Raw materials and consumables | 30/31 | €1,055,834 | €1,005,355 | -€50,479 | -4.8% |
| Work in progress | 32 | €9,314 | €9,545 | +€231 | +2.5% |
| Finished goods | 33 | €131,628 | €120,865 | -€10,763 | -8.2% |
| Goods purchased for resale | 34 | €1,107,892 | €1,346,376 | +€238,484 | +21.5% |
| Contracts in progress | 37 | €55,304 | €5,357 | -€49,947 | -90.3% |
| Amounts receivable within one year | 40/41 | €1,728,989 | €1,641,673 | -€87,316 | -5.1% |
| Trade receivables | 40 | €1,464,157 | €1,245,055 | -€219,102 | -15.0% |
| Other amounts receivable | 41 | €264,832 | €396,618 | +€131,787 | +49.8% |
| Current investments | 50/53 | €3,390,000 | €940,357 | -€2.4m | -72.3% |
| Other investments | 51/53 | €3,390,000 | €940,357 | -€2.4m | -72.3% |
| Cash at bank and in hand | 54/58 | €206,557 | €763,280 | +€556,724 | +270% |
| Deferred charges and accrued income | 490/1 | €40,539 | €22,263 | -€18,276 | -45.1% |
| Total equity and liabilities | 10/49 | €9,424,030 | €7,490,716 | -€1.9m | -20.5% |
| Equity | 10/15 | €8,219,133 | €4,893,769 | -€3.3m | -40.5% |
| Contributions | 10/11 | €249,000 | €249,000 | = | 0.0% |
| Capital | 10 | €249,000 | €249,000 | = | 0.0% |
| Issued capital | 100 | €249,000 | €249,000 | = | 0.0% |
| Reserves | 13 | €2,212,753 | €2,211,145 | -€1,608 | -0.1% |
| Non-distributable reserves | 130/1 | €24,900 | €24,900 | = | 0.0% |
| Legal reserve | 130 | €24,900 | €24,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €427,353 | €4,745 | -€422,608 | -98.9% |
| Distributable reserves | 133 | €1,760,500 | €2,181,500 | +€421,000 | +23.9% |
| Profit (loss) carried forward | 14 | €5,621,693 | €2,307,444 | -€3.3m | -59.0% |
| Investment grants | 15 | €135,688 | €126,180 | -€9,507 | -7.0% |
| Provisions and deferred taxes | 16 | €3,271 | €2,443 | -€828 | -25.3% |
| Deferred taxes | 168 | €3,271 | €2,443 | -€828 | -25.3% |
| Amounts payable | 17/49 | €1,201,626 | €2,594,504 | +€1.4m | +116% |
| Amounts payable within one year | 42/48 | €1,201,586 | €2,594,465 | +€1.4m | +116% |
| Trade debts | 44 | €370,983 | €356,166 | -€14,816 | -4.0% |
| Suppliers | 440/4 | €370,983 | €356,166 | -€14,816 | -4.0% |
| Advances received on contracts in progress | 46 | €134,031 | €39,604 | -€94,427 | -70.5% |
| Taxes, remuneration and social security | 45 | €696,573 | €557,781 | -€138,792 | -19.9% |
| Taxes | 450/3 | €336,496 | €205,934 | -€130,562 | -38.8% |
| Remuneration and social security | 454/9 | €360,077 | €351,847 | -€8,230 | -2.3% |
| Other amounts payable | 47/48 | - | €1,640,914 | +€1.6m | |
| Accrued charges and deferred income | 492/3 | €39 | €39 | +€0 | +0.4% |
| Operating income | 70/76A | €13,037,357 | €14,301,820 | +€1.3m | +9.7% |
| Turnover | 70 | €12,756,623 | €14,027,066 | +€1.3m | +10.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€58,324 | -€10,763 | +€47,561 | +81.5% |
| Other operating income | 74 | €339,059 | €281,216 | -€57,842 | -17.1% |
| Non-recurring operating income | 76A | - | €4,301 | +€4,301 | |
| Operating charges | 60/66A | €9,997,222 | €11,842,272 | +€1.8m | +18.5% |
| Goods for resale, raw materials and consumables | 60 | €5,147,104 | €5,646,930 | +€499,826 | +9.7% |
| Purchases | 600/8 | €5,126,613 | €5,734,029 | +€607,416 | +11.8% |
| Change in stocks: decrease (increase) | 609 | €20,491 | -€87,099 | -€107,590 | |
| Services and other goods | 61 | €2,321,262 | €3,226,019 | +€904,757 | +39.0% |
| Remuneration, social security and pensions | 62 | €2,283,542 | €2,435,884 | +€152,342 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €449,191 | €455,294 | +€6,103 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €26,622 | +€26,622 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€241,999 | - | +€241,999 | |
| Other operating charges | 640/8 | €35,841 | €36,716 | +€875 | +2.4% |
| Non-recurring operating charges | 66A | €2,280 | €14,806 | +€12,526 | +549% |
| Operating profit (loss) | 9901 | €3,040,136 | €2,459,548 | -€580,587 | -19.1% |
| Financial income | 75/76B | €250,673 | €123,071 | -€127,602 | -50.9% |
| Recurring financial income | 75 | €250,673 | €123,071 | -€127,602 | -50.9% |
| Income from current assets | 751 | €70,437 | €39,539 | -€30,897 | -43.9% |
| Other financial income | 752/9 | €180,236 | €83,532 | -€96,705 | -53.7% |
| Financial charges | 65/66B | €48,355 | €50,708 | +€2,353 | +4.9% |
| Recurring financial charges | 65 | €48,355 | €50,708 | +€2,353 | +4.9% |
| Debt charges | 650 | €5,498 | €5,392 | -€106 | -1.9% |
| Other financial charges | 652/9 | €42,857 | €45,317 | +€2,460 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €3,242,454 | €2,531,911 | -€710,543 | -21.9% |
| Transfer from deferred taxes | 780 | €839 | €828 | -€11 | -1.3% |
| Income taxes | 67/77 | €832,607 | €648,596 | -€184,011 | -22.1% |
| Taxes | 670/3 | €832,607 | €648,596 | -€184,011 | -22.1% |
| Profit (loss) for the period | 9904 | €2,410,686 | €1,884,143 | -€526,542 | -21.8% |
| Transfer from tax-exempt reserves | 789 | €422,629 | €422,608 | -€20 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,833,314 | €2,306,751 | -€526,563 | -18.6% |
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 27 October 2026 via checked.be.