AVIATION MANAGEMENT SERVICES: 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.
AVIATION MANAGEMENT SERVICES
Largest movements
- Current investments +€36,064
up €36,064 (+69.3%), from €52,051 to €88,115
- Receivables within one year +€29,657
up €29,657 (+130%), from €22,869 to €52,526
- Cash -€29,239
down €29,239 (-40.0%), from €73,119 to €43,880
mainly Contributions, distributions and other (-€98,636) and Current investments (-€36,064)
- Tangible fixed assets -€18,448
down €18,448 (-9.9%), from €186,846 to €168,399
of which Leasing and similar rights: -€11,736
- Reserves +€24,140
up €24,140 (+13.3%), from €180,902 to €205,042
- Current portion of long-term debt -€15,000
no longer reported in 2025 (was €15,000)
- Tax, wage and social debts +€9,408
up €9,408 (+25.0%), from €37,572 to €46,980
of which Taxes: +€27,408
- Gross operating margin +€117,269
up €117,269 (+141%), from €83,374 to €200,643
- Taxes +€35,129
up €35,129 (+188%), from €18,662 to €53,791
- Financial charges +€3,884
up €3,884 (+550%), from €706 to €4,590
- Financial income -€2,822
down €2,822 (-46.9%), from €6,014 to €3,192
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 | €335,477 | €353,530 | +€18,053 | +5.4% |
| Fixed assets | 21/28 | €186,846 | €168,399 | -€18,448 | -9.9% |
| Tangible fixed assets | 22/27 | €186,846 | €168,399 | -€18,448 | -9.9% |
| Furniture and vehicles | 24 | €18,715 | €13,265 | -€5,450 | -29.1% |
| Leasing and similar rights | 25 | €152,567 | €140,831 | -€11,736 | -7.7% |
| Other tangible fixed assets | 26 | €15,565 | €14,303 | -€1,262 | -8.1% |
| Current assets | 29/58 | €148,630 | €185,131 | +€36,501 | +24.6% |
| Amounts receivable within one year | 40/41 | €22,869 | €52,526 | +€29,657 | +130% |
| Trade receivables | 40 | €22,869 | €52,526 | +€29,657 | +130% |
| Current investments | 50/53 | €52,051 | €88,115 | +€36,064 | +69.3% |
| Cash at bank and in hand | 54/58 | €73,119 | €43,880 | -€29,239 | -40.0% |
| Deferred charges and accrued income | 490/1 | €591 | €609 | +€18 | +3.1% |
| Total equity and liabilities | 10/49 | €335,477 | €353,530 | +€18,053 | +5.4% |
| Equity | 10/15 | €276,005 | €300,145 | +€24,140 | +8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €180,902 | €205,042 | +€24,140 | +13.3% |
| Distributable reserves | 133 | €180,902 | €205,042 | +€24,140 | +13.3% |
| Profit (loss) carried forward | 14 | €76,503 | €76,503 | = | 0.0% |
| Amounts payable | 17/49 | €59,472 | €53,385 | -€6,087 | -10.2% |
| Amounts payable within one year | 42/48 | €57,375 | €51,303 | -€6,072 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | - | -€15,000 | |
| Trade debts | 44 | €178 | €413 | +€235 | +132% |
| Suppliers | 440/4 | €178 | €413 | +€235 | +132% |
| Taxes, remuneration and social security | 45 | €37,572 | €46,980 | +€9,408 | +25.0% |
| Taxes | 450/3 | €16,572 | €43,980 | +€27,408 | +165% |
| Remuneration and social security | 454/9 | €21,000 | €3,000 | -€18,000 | -85.7% |
| Other amounts payable | 47/48 | €4,625 | €3,910 | -€716 | -15.5% |
| Accrued charges and deferred income | 492/3 | €2,097 | €2,082 | -€15 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,649 | €18,448 | -€202 | -1.1% |
| Other operating charges | 640/8 | €4,207 | €4,230 | +€23 | +0.6% |
| Gross operating margin | 9900 | €83,374 | €200,643 | +€117,269 | +141% |
| Operating profit (loss) | 9901 | €60,517 | €177,965 | +€117,448 | +194% |
| Financial income | 75/76B | €6,014 | €3,192 | -€2,822 | -46.9% |
| Recurring financial income | 75 | €6,014 | €3,192 | -€2,822 | -46.9% |
| Financial charges | 65/66B | €706 | €4,590 | +€3,884 | +550% |
| Recurring financial charges | 65 | €706 | €4,590 | +€3,884 | +550% |
| Profit (loss) for the period before taxes | 9903 | €65,826 | €176,568 | +€110,742 | +168% |
| Income taxes | 67/77 | €18,662 | €53,791 | +€35,129 | +188% |
| Profit (loss) for the period | 9904 | €47,164 | €122,777 | +€75,613 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €47,164 | €122,777 | +€75,613 | +160% |
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.