ExecuJet MRO Services Belgium: 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
ExecuJet MRO Services Belgium
NACE 30.310, Manufacture of other transport equipment
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€833,179
2023 · €292,961+€540,218
Equity
€7.1m
2023 · €6.3m+€725,262
Cash
€858,584
2023 · €1.8m-€986,891
Balance sheet total
€9.8m
2023 · €9.1m+€767,196
Largest movements
Assets
- Receivables within one year +€1.1m
up €1.1m (+32.2%), from €3.3m to €4.3m
of which Trade receivables: +€992,857
- Cash -€986,891
down €986,891 (-53.5%), from €1.8m to €858,584
mainly Receivables within one year (-€1.1m) and Current investments (-€500,000)
- Current investments +€500,000
new in 2024: €500,000
- Receivables after one year -€161,517
down €161,517 (-6.8%), from €2.4m to €2.2m
- Tangible fixed assets +€140,441
up €140,441 (+11.2%), from €1.2m to €1.4m
of which Plant, machinery and equipment: +€250,576
Equity and liabilities
- Profit (loss) carried forward +€830,680
up €830,680, from -€68,896 to €761,783
- Reserves -€105,418
down €105,418 (-4.8%), from €2.2m to €2.1m
of which Tax-exempt reserves: -€76,666
Income statement
- Gross operating margin +€1.1m
up €1.1m (+47.3%), from €2.3m to €3.3m
- Staff costs +€286,493
up €286,493 (+16.3%), from €1.8m to €2.0m
- Taxes +€216,125
up €216,125 (+209%), from €103,655 to €319,780
- Other operating charges +€101,735
up €101,735 (+282%), from €36,076 to €137,811
- Write-downs -€71,373
down €71,373 (-197%), from -€36,206 to -€107,578
From the 2023 result to the 2024 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 2023
€292,961
Gross operating margin
+€1.1m
Staff costs
-€286,493
Depreciation
-€11,937
Write-downs
+€71,373
Other operating charges
-€101,735
Other operating items
-€12,906
Financial income
+€37,832
Financial charges
-€5,751
Taxes
-€216,125
Result 2024
€833,179
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€26,692
Investment
-€852,282
Financing
-€107,917
Cash 2023
€1.8m
From operations (derived)
-€26,692
Net result for the year
+€833,179
Depreciation
+€202,154
Receivables after one year
+€161,517
Stocks and contracts
-€114,146
Receivables within one year
-€1.1m
Deferred charges and accrued income
-€95,463
Provisions
+€45,300
Trade debts
-€55,783
Smaller working-capital items
-€2,583
Other debts
+€55,000
Investment (derived)
-€852,282
Investment in fixed assets (net)
-€352,282
Current investments
-€500,000
Financing
-€107,917
Contributions, distributions and other
-€107,917
Cash 2024
€858,584
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,074,138 | €9,841,333 | +€767,196 | +8.5% |
| Fixed assets | 21/28 | €1,255,016 | €1,405,143 | +€150,127 | +12.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,249,823 | €1,390,264 | +€140,441 | +11.2% |
| Land and buildings | 22 | €1,156,922 | €1,043,197 | -€113,725 | -9.8% |
| Plant, machinery and equipment | 23 | €82,930 | €333,505 | +€250,576 | +302% |
| Furniture and vehicles | 24 | €9,971 | €13,562 | +€3,591 | +36.0% |
| Financial fixed assets | 28 | €5,193 | €14,879 | +€9,686 | +187% |
| Current assets | 29/58 | €7,819,122 | €8,436,191 | +€617,069 | +7.9% |
| Amounts receivable after more than one year | 29 | €2,386,891 | €2,225,374 | -€161,517 | -6.8% |
| Trade receivables | 290 | €2,386,891 | €2,225,374 | -€161,517 | -6.8% |
| Stocks and contracts in progress | 3 | €298,084 | €412,230 | +€114,146 | +38.3% |
| Stocks | 30/36 | €298,084 | €412,230 | +€114,146 | +38.3% |
| Amounts receivable within one year | 40/41 | €3,283,997 | €4,339,865 | +€1.1m | +32.2% |
| Trade receivables | 40 | €3,022,410 | €4,015,267 | +€992,857 | +32.8% |
| Other amounts receivable | 41 | €261,586 | €324,597 | +€63,011 | +24.1% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €1,845,474 | €858,584 | -€986,891 | -53.5% |
| Deferred charges and accrued income | 490/1 | €4,676 | €100,139 | +€95,463 | +2,042% |
| Total equity and liabilities | 10/49 | €9,074,138 | €9,841,333 | +€767,196 | +8.5% |
| Equity | 10/15 | €6,331,339 | €7,056,601 | +€725,262 | +11.5% |
| Contributions | 10/11 | €4,200,000 | €4,200,000 | = | 0.0% |
| Capital | 10 | €4,200,000 | €4,200,000 | = | 0.0% |
| Issued capital | 100 | €4,200,000 | €4,200,000 | = | 0.0% |
| Reserves | 13 | €2,200,235 | €2,094,817 | -€105,418 | -4.8% |
| Non-distributable reserves | 130/1 | €20,000 | €60,145 | +€40,145 | +201% |
| Legal reserve | 130 | €20,000 | €60,145 | +€40,145 | +201% |
| Tax-exempt reserves | 132 | €576,992 | €500,326 | -€76,666 | -13.3% |
| Distributable reserves | 133 | €1,603,243 | €1,534,346 | -€68,896 | -4.3% |
| Profit (loss) carried forward | 14 | -€68,896 | €761,783 | +€830,680 | |
| Provisions and deferred taxes | 16 | €192,970 | €238,270 | +€45,300 | +23.5% |
| Provisions for liabilities and charges | 160/5 | €640 | €71,495 | +€70,855 | +11,075% |
| Environmental obligations | 163 | €640 | €71,495 | +€70,855 | +11,075% |
| Deferred taxes | 168 | €192,331 | €166,775 | -€25,555 | -13.3% |
| Amounts payable | 17/49 | €2,549,829 | €2,546,463 | -€3,366 | -0.1% |
| Amounts payable within one year | 42/48 | €2,547,829 | €2,546,463 | -€1,366 | -0.1% |
| Trade debts | 44 | €1,989,461 | €1,933,678 | -€55,783 | -2.8% |
| Suppliers | 440/4 | €1,989,461 | €1,933,678 | -€55,783 | -2.8% |
| Taxes, remuneration and social security | 45 | €505,451 | €504,869 | -€583 | -0.1% |
| Taxes | 450/3 | €175,570 | €62,193 | -€113,377 | -64.6% |
| Remuneration and social security | 454/9 | €329,881 | €442,676 | +€112,795 | +34.2% |
| Other amounts payable | 47/48 | €52,916 | €107,917 | +€55,000 | +104% |
| Accrued charges and deferred income | 492/3 | €2,000 | €0 | -€2,000 | -100% |
| Non-recurring operating income | 76A | €220 | €0 | -€220 | -100% |
| Remuneration, social security and pensions | 62 | €1,758,010 | €2,044,503 | +€286,493 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,217 | €202,154 | +€11,937 | +6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€36,206 | -€107,578 | -€71,373 | -197% |
| Other operating charges | 640/8 | €36,076 | €137,811 | +€101,735 | +282% |
| Non-recurring operating charges | 66A | - | €12,906 | +€12,906 | |
| Gross operating margin | 9900 | €2,254,576 | €3,320,536 | +€1.1m | +47.3% |
| Operating profit (loss) | 9901 | €306,479 | €1,030,740 | +€724,261 | +236% |
| Financial income | 75/76B | €83,933 | €121,765 | +€37,832 | +45.1% |
| Recurring financial income | 75 | €83,933 | €121,765 | +€37,832 | +45.1% |
| Financial charges | 65/66B | €19,351 | €25,102 | +€5,751 | +29.7% |
| Recurring financial charges | 65 | €19,351 | €25,102 | +€5,751 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €371,061 | €1,127,403 | +€756,343 | +204% |
| Transfer from deferred taxes | 780 | €25,555 | €25,555 | = | 0.0% |
| Income taxes | 67/77 | €103,655 | €319,780 | +€216,125 | +209% |
| Profit (loss) for the period | 9904 | €292,961 | €833,179 | +€540,218 | +184% |
| Transfer from tax-exempt reserves | 789 | €76,666 | €76,666 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €369,627 | €909,845 | +€540,218 | +146% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.