Black Box Aviation Engineering: 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.
Black Box Aviation Engineering
Largest movements
- Receivables within one year +€57,753
up €57,753 (+36.9%), from €156,521 to €214,274
of which Trade receivables: +€57,753
- Tax, wage and social debts +€36,317
up €36,317 (+301.9%), from €12,028 to €48,346
- Reserves +€24,361
up €24,361 (+186.5%), from €13,062 to €37,423
- Gross operating margin +€27,764
up €27,764 (+233.3%), from €11,899 to €39,662
- Financial charges +€5,016
up €5,016 (+444.2%), from €1,129 to €6,145
- Taxes +€4,946
up €4,946 (+228.5%), from €2,165 to €7,111
- Other operating charges +€941
up €941 (+125.4%), from €750 to €1,691
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 | €159,050 | €218,287 | +€59,237 | +37.2% |
| Fixed assets | 21/28 | €1,005 | €615 | -€390 | -38.8% |
| Tangible fixed assets | 22/27 | €1,005 | €615 | -€390 | -38.8% |
| Furniture and vehicles | 24 | €1,005 | €615 | -€390 | -38.8% |
| Current assets | 29/58 | €158,045 | €217,672 | +€59,627 | +37.7% |
| Amounts receivable within one year | 40/41 | €156,521 | €214,274 | +€57,753 | +36.9% |
| Trade receivables | 40 | €156,521 | €214,274 | +€57,753 | +36.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €631 | €2,466 | +€1,835 | +291.0% |
| Deferred charges and accrued income | 490/1 | €894 | €932 | +€38 | +4.3% |
| Total equity and liabilities | 10/49 | €159,050 | €218,287 | +€59,237 | +37.2% |
| Equity | 10/15 | €15,562 | €39,923 | +€24,361 | +156.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €13,062 | €37,423 | +€24,361 | +186.5% |
| Distributable reserves | 133 | €13,062 | €37,423 | +€24,361 | +186.5% |
| Amounts payable | 17/49 | €143,488 | €178,365 | +€34,876 | +24.3% |
| Amounts payable within one year | 42/48 | €141,238 | €177,965 | +€36,727 | +26.0% |
| Trade debts | 44 | €10,840 | €9,697 | -€1,143 | -10.5% |
| Suppliers | 440/4 | €10,840 | €9,697 | -€1,143 | -10.5% |
| Taxes, remuneration and social security | 45 | €12,028 | €48,346 | +€36,317 | +301.9% |
| Taxes | 450/3 | €12,028 | €48,346 | +€36,317 | +301.9% |
| Other amounts payable | 47/48 | €118,369 | €119,922 | +€1,553 | +1.3% |
| Accrued charges and deferred income | 492/3 | €2,250 | €400 | -€1,851 | -82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164 | €390 | +€226 | +137.7% |
| Other operating charges | 640/8 | €750 | €1,691 | +€941 | +125.4% |
| Gross operating margin | 9900 | €11,899 | €39,662 | +€27,764 | +233.3% |
| Operating profit (loss) | 9901 | €10,984 | €37,581 | +€26,597 | +242.1% |
| Financial income | 75/76B | - | €36 | +€36 | |
| Recurring financial income | 75 | - | €36 | +€36 | |
| Financial charges | 65/66B | €1,129 | €6,145 | +€5,016 | +444.2% |
| Recurring financial charges | 65 | €1,129 | €6,145 | +€5,016 | +444.2% |
| Profit (loss) for the period before taxes | 9903 | €9,855 | €31,472 | +€21,617 | +219.4% |
| Income taxes | 67/77 | €2,165 | €7,111 | +€4,946 | +228.5% |
| Profit (loss) for the period | 9904 | €7,690 | €24,361 | +€16,671 | +216.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,690 | €24,361 | +€16,671 | +216.8% |
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 7 October 2026 via checked.be.