C-AIR: 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.
C-AIR
Largest movements
- Receivables within one year -€54,363
down €54,363 (-90.0%), from €60,419 to €6,055
of which Trade receivables: -€55,811
- Cash -€14,522
down €14,522 (-21.5%), from €67,534 to €53,012
mainly Contributions, distributions and other (-€65,000) and Accrued charges and deferred income (-€44,093)
- Tangible fixed assets -€7,677
down €7,677 (-3.7%), from €209,708 to €202,031
of which Furniture and vehicles: -€10,088
- Stocks and contracts -€6,632
no longer reported in 2025 (was €6,632)
- Accrued charges and deferred income -€44,093
down €44,093 (-50.7%), from €86,905 to €42,812
- Reserves -€29,188
down €29,188 (-46.3%), from €63,041 to €33,852
- Debts after one year -€22,659
down €22,659 (-29.9%), from €75,878 to €53,220
- Profit (loss) carried forward +€16,130
up €16,130 (+26.1%), from €61,693 to €77,823
- Tax, wage and social debts -€9,607
down €9,607 (-50.3%), from €19,107 to €9,500
- Gross operating margin -€13,817
down €13,817 (-11.1%), from €124,078 to €110,261
- Depreciation -€6,042
down €6,042 (-15.1%), from €39,887 to €33,845
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 | €351,847 | €268,806 | -€83,041 | -23.6% |
| Fixed assets | 21/28 | €209,708 | €202,031 | -€7,677 | -3.7% |
| Tangible fixed assets | 22/27 | €209,708 | €202,031 | -€7,677 | -3.7% |
| Land and buildings | 22 | €134,592 | €128,685 | -€5,907 | -4.4% |
| Plant, machinery and equipment | 23 | €38,083 | €46,786 | +€8,703 | +22.9% |
| Furniture and vehicles | 24 | €34,295 | €24,206 | -€10,088 | -29.4% |
| Other tangible fixed assets | 26 | €2,738 | €2,354 | -€384 | -14.0% |
| Current assets | 29/58 | €142,140 | €66,775 | -€75,365 | -53.0% |
| Stocks and contracts in progress | 3 | €6,632 | - | -€6,632 | |
| Stocks | 30/36 | €6,632 | - | -€6,632 | |
| Amounts receivable within one year | 40/41 | €60,419 | €6,055 | -€54,363 | -90.0% |
| Trade receivables | 40 | €59,866 | €4,055 | -€55,811 | -93.2% |
| Other amounts receivable | 41 | €552 | €2,000 | +€1,448 | +262.0% |
| Cash at bank and in hand | 54/58 | €67,534 | €53,012 | -€14,522 | -21.5% |
| Deferred charges and accrued income | 490/1 | €7,555 | €7,708 | +€153 | +2.0% |
| Total equity and liabilities | 10/49 | €351,847 | €268,806 | -€83,041 | -23.6% |
| Equity | 10/15 | €143,333 | €130,275 | -€13,058 | -9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,041 | €33,852 | -€29,188 | -46.3% |
| Distributable reserves | 133 | €63,041 | €33,852 | -€29,188 | -46.3% |
| Profit (loss) carried forward | 14 | €61,693 | €77,823 | +€16,130 | +26.1% |
| Amounts payable | 17/49 | €208,514 | €138,531 | -€69,983 | -33.6% |
| Amounts payable after more than one year | 17 | €75,878 | €53,220 | -€22,659 | -29.9% |
| Financial debts | 170/4 | €75,878 | €53,220 | -€22,659 | -29.9% |
| Amounts payable within one year | 42/48 | €45,731 | €42,499 | -€3,232 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €22,252 | €25,690 | +€3,438 | +15.5% |
| Trade debts | 44 | €2,464 | €2,295 | -€169 | -6.9% |
| Suppliers | 440/4 | €2,464 | €2,295 | -€169 | -6.9% |
| Taxes, remuneration and social security | 45 | €19,107 | €9,500 | -€9,607 | -50.3% |
| Taxes | 450/3 | €19,107 | €9,500 | -€9,607 | -50.3% |
| Other amounts payable | 47/48 | €1,908 | €5,014 | +€3,106 | +162.8% |
| Accrued charges and deferred income | 492/3 | €86,905 | €42,812 | -€44,093 | -50.7% |
| Non-recurring operating income | 76A | €24,684 | - | -€24,684 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,887 | €33,845 | -€6,042 | -15.1% |
| Other operating charges | 640/8 | €3,186 | €2,738 | -€447 | -14.0% |
| Gross operating margin | 9900 | €124,078 | €110,261 | -€13,817 | -11.1% |
| Operating profit (loss) | 9901 | €81,005 | €73,678 | -€7,327 | -9.0% |
| Financial income | 75/76B | €17 | €0 | -€17 | -98.1% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -98.1% |
| Financial charges | 65/66B | €2,835 | €2,463 | -€371 | -13.1% |
| Recurring financial charges | 65 | €2,835 | €2,463 | -€371 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €78,188 | €71,215 | -€6,973 | -8.9% |
| Income taxes | 67/77 | €20,448 | €19,273 | -€1,174 | -5.7% |
| Profit (loss) for the period | 9904 | €57,741 | €51,942 | -€5,799 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,741 | €51,942 | -€5,799 | -10.0% |
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 8 October 2026 via checked.be.