B-AIRCO: what changed
B-AIRCO
Largest movements
- Receivables within one year +€45,919
up €45,919 (+94.5%), from €48,571 to €94,490
of which Trade receivables: +€33,125
- Stocks and contracts +€39,746
new in 2025: €39,746
- Cash -€22,506
down €22,506 (-32.8%), from €68,556 to €46,051
mainly Receivables within one year (-€45,919) and Investment in fixed assets (net) (-€40,509)
- Tangible fixed assets +€13,250
up €13,250 (+19.2%), from €68,858 to €82,108
of which Furniture and vehicles: +€12,354
- Current investments +€10,619
up €10,619 (+66.4%), from €16,000 to €26,619
- Reserves +€60,175
up €60,175 (+54.6%), from €110,234 to €170,409
- Debts after one year +€16,777
up €16,777 (+39.5%), from €42,473 to €59,250
- Trade debts +€8,999
up €8,999 (+155%), from €5,814 to €14,812
- Short-term financial debts -€8,569
down €8,569 (-46.0%), from €18,631 to €10,062
- Current portion of long-term debt +€8,549
up €8,549 (+52.3%), from €16,347 to €24,896
- Gross operating margin -€35,501
down €35,501 (-23.5%), from €151,261 to €115,760
- Taxes -€10,058
down €10,058 (-30.5%), from €32,959 to €22,901
- Other operating charges -€5,191
down €5,191 (-79.8%), from €6,509 to €1,318
- Depreciation +€2,793
up €2,793 (+11.4%), from €24,466 to €27,259
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €202,811 | €289,839 | +€87,029 | +42.9% |
| Fixed assets | 21/28 | €69,683 | €82,933 | +€13,250 | +19.0% |
| Tangible fixed assets | 22/27 | €68,858 | €82,108 | +€13,250 | +19.2% |
| Plant, machinery and equipment | 23 | €1,949 | €2,846 | +€896 | +46.0% |
| Furniture and vehicles | 24 | €66,909 | €79,263 | +€12,354 | +18.5% |
| Financial fixed assets | 28 | €825 | €825 | = | 0.0% |
| Current assets | 29/58 | €133,128 | €206,906 | +€73,779 | +55.4% |
| Stocks and contracts in progress | 3 | - | €39,746 | +€39,746 | |
| Stocks | 30/36 | - | €39,746 | +€39,746 | |
| Amounts receivable within one year | 40/41 | €48,571 | €94,490 | +€45,919 | +94.5% |
| Trade receivables | 40 | €5,952 | €39,077 | +€33,125 | +557% |
| Other amounts receivable | 41 | €42,619 | €55,413 | +€12,794 | +30.0% |
| Current investments | 50/53 | €16,000 | €26,619 | +€10,619 | +66.4% |
| Cash at bank and in hand | 54/58 | €68,556 | €46,051 | -€22,506 | -32.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €202,811 | €289,839 | +€87,029 | +42.9% |
| Equity | 10/15 | €115,234 | €175,409 | +€60,175 | +52.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €110,234 | €170,409 | +€60,175 | +54.6% |
| Distributable reserves | 133 | €110,234 | €170,409 | +€60,175 | +54.6% |
| Amounts payable | 17/49 | €87,576 | €114,430 | +€26,854 | +30.7% |
| Amounts payable after more than one year | 17 | €42,473 | €59,250 | +€16,777 | +39.5% |
| Financial debts | 170/4 | €42,473 | €59,250 | +€16,777 | +39.5% |
| Amounts payable within one year | 42/48 | €45,103 | €55,180 | +€10,077 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €16,347 | €24,896 | +€8,549 | +52.3% |
| Financial debts | 43 | €18,631 | €10,062 | -€8,569 | -46.0% |
| Credit institutions | 430/8 | €18,631 | €10,062 | -€8,569 | -46.0% |
| Trade debts | 44 | €5,814 | €14,812 | +€8,999 | +155% |
| Suppliers | 440/4 | €5,814 | €14,812 | +€8,999 | +155% |
| Taxes, remuneration and social security | 45 | €4,312 | €5,410 | +€1,098 | +25.5% |
| Taxes | 450/3 | €4,312 | €5,410 | +€1,098 | +25.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,317 | €812 | -€1,505 | -65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,466 | €27,259 | +€2,793 | +11.4% |
| Other operating charges | 640/8 | €6,509 | €1,318 | -€5,191 | -79.8% |
| Gross operating margin | 9900 | €151,261 | €115,760 | -€35,501 | -23.5% |
| Operating profit (loss) | 9901 | €117,969 | €86,371 | -€31,598 | -26.8% |
| Financial income | 75/76B | €139 | €74 | -€66 | -47.1% |
| Recurring financial income | 75 | €139 | €74 | -€66 | -47.1% |
| Financial charges | 65/66B | €3,086 | €3,369 | +€283 | +9.2% |
| Recurring financial charges | 65 | €3,086 | €3,369 | +€283 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €115,022 | €83,076 | -€31,946 | -27.8% |
| Income taxes | 67/77 | €32,959 | €22,901 | -€10,058 | -30.5% |
| Profit (loss) for the period | 9904 | €82,063 | €60,175 | -€21,887 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,063 | €60,175 | -€21,887 | -26.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.