ExpAir Ts: 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.
ExpAir Ts
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+164%), from €641,602 to €1.7m
of which Trade receivables: +€915,253
- Tangible fixed assets +€78,547
up €78,547 (+36.1%), from €217,614 to €296,161
of which Leasing and similar rights: +€62,313
- Cash +€70,367
up €70,367 (+76.7%), from €91,717 to €162,083
mainly Trade debts (+€500,397) and Net result for the year (+€324,818)
- Trade debts +€500,397
up €500,397 (+77.2%), from €648,239 to €1.1m
- Profit (loss) carried forward +€324,818
up €324,818 (+205%), from €158,103 to €482,921
- Accrued charges and deferred income +€161,333
up €161,333 (+1,925%), from €8,380 to €169,713
- Current portion of long-term debt +€116,603
up €116,603 (+190%), from €61,237 to €177,840
- Debts after one year +€62,698
up €62,698 (+41.9%), from €149,647 to €212,345
- Gross operating margin +€737,097
up €737,097 (+65.1%), from €1.1m to €1.9m
- Staff costs +€317,591
up €317,591 (+32.3%), from €983,127 to €1.3m
- Taxes +€77,262
up €77,262 (+199%), from €38,752 to €116,014
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 | €1,102,612 | €2,324,061 | +€1.2m | +111% |
| Fixed assets | 21/28 | €257,210 | €346,524 | +€89,314 | +34.7% |
| Tangible fixed assets | 22/27 | €217,614 | €296,161 | +€78,547 | +36.1% |
| Plant, machinery and equipment | 23 | €10,458 | €9,858 | -€600 | -5.7% |
| Furniture and vehicles | 24 | €15,560 | €32,394 | +€16,834 | +108% |
| Leasing and similar rights | 25 | €191,596 | €253,909 | +€62,313 | +32.5% |
| Financial fixed assets | 28 | €39,596 | €50,363 | +€10,767 | +27.2% |
| Current assets | 29/58 | €845,401 | €1,977,537 | +€1.1m | +134% |
| Stocks and contracts in progress | 3 | €102,305 | €108,633 | +€6,327 | +6.2% |
| Stocks | 30/36 | €102,305 | €108,633 | +€6,327 | +6.2% |
| Amounts receivable within one year | 40/41 | €641,602 | €1,695,906 | +€1.1m | +164% |
| Trade receivables | 40 | €509,385 | €1,424,638 | +€915,253 | +180% |
| Other amounts receivable | 41 | €132,217 | €271,267 | +€139,051 | +105% |
| Cash at bank and in hand | 54/58 | €91,717 | €162,083 | +€70,367 | +76.7% |
| Deferred charges and accrued income | 490/1 | €9,777 | €10,915 | +€1,137 | +11.6% |
| Total equity and liabilities | 10/49 | €1,102,612 | €2,324,061 | +€1.2m | +111% |
| Equity | 10/15 | €164,103 | €488,921 | +€324,818 | +198% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,103 | €482,921 | +€324,818 | +205% |
| Amounts payable | 17/49 | €938,509 | €1,835,140 | +€896,631 | +95.5% |
| Amounts payable after more than one year | 17 | €149,647 | €212,345 | +€62,698 | +41.9% |
| Financial debts | 170/4 | €149,647 | €212,345 | +€62,698 | +41.9% |
| Amounts payable within one year | 42/48 | €780,482 | €1,453,082 | +€672,601 | +86.2% |
| Current portion of amounts payable after more than one year | 42 | €61,237 | €177,840 | +€116,603 | +190% |
| Trade debts | 44 | €648,239 | €1,148,635 | +€500,397 | +77.2% |
| Suppliers | 440/4 | €648,239 | €1,148,635 | +€500,397 | +77.2% |
| Taxes, remuneration and social security | 45 | €71,007 | €126,607 | +€55,601 | +78.3% |
| Taxes | 450/3 | €18,395 | €68,521 | +€50,125 | +272% |
| Remuneration and social security | 454/9 | €52,611 | €58,086 | +€5,475 | +10.4% |
| Accrued charges and deferred income | 492/3 | €8,380 | €169,713 | +€161,333 | +1,925% |
| Non-recurring operating income | 76A | €8,296 | - | -€8,296 | |
| Remuneration, social security and pensions | 62 | €983,127 | €1,300,718 | +€317,591 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,843 | €88,337 | +€16,494 | +23.0% |
| Other operating charges | 640/8 | €10,430 | €11,105 | +€674 | +6.5% |
| Non-recurring operating charges | 66A | €15 | €3,019 | +€3,004 | +20,648% |
| Gross operating margin | 9900 | €1,132,259 | €1,869,357 | +€737,097 | +65.1% |
| Operating profit (loss) | 9901 | €66,845 | €466,178 | +€399,333 | +597% |
| Financial income | 75/76B | €8,316 | €402 | -€7,914 | -95.2% |
| Recurring financial income | 75 | €19 | €99 | +€80 | +410% |
| Non-recurring financial income | 76B | €8,296 | €302 | -€7,994 | -96.4% |
| Financial charges | 65/66B | €21,395 | €25,748 | +€4,353 | +20.3% |
| Recurring financial charges | 65 | €21,395 | €25,748 | +€4,353 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | €53,766 | €440,832 | +€387,066 | +720% |
| Income taxes | 67/77 | €38,752 | €116,014 | +€77,262 | +199% |
| Profit (loss) for the period | 9904 | €15,014 | €324,818 | +€309,804 | +2,063% |
| Profit (loss) for the period to be appropriated | 9905 | €15,014 | €324,818 | +€309,804 | +2,063% |
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 19 October 2026 via checked.be.