FIRST AIRLINES: 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.
FIRST AIRLINES
Largest movements
- Tangible fixed assets -€295,114
down €295,114 (-66.9%), from €440,871 to €145,758
of which Land and buildings: -€274,890
- Deferred charges and accrued income -€255,022
down €255,022 (-74.9%), from €340,548 to €85,527
- Receivables within one year -€37,139
no longer reported in 2024 (was €37,139)
of which Trade receivables: -€34,600
- Cash -€9,275
down €9,275 (-58.9%), from €15,748 to €6,473
mainly Debts after one year (-€334,241) and Net result for the year (-€113,502)
- Debts after one year -€334,241
no longer reported in 2024 (was €334,241)
- Profit (loss) carried forward -€113,502
down €113,502 (-276.6%), from -€41,034 to -€154,536
- Other debts -€68,175
down €68,175 (-18.2%), from €374,372 to €306,197
- Provisions -€27,372
no longer reported in 2024 (was €27,372)
- Advances received -€27,000
no longer reported in 2024 (was €27,000)
- Gross operating margin -€49,736
down €49,736 (-189.4%), from -€26,263 to -€76,000
- Other operating charges +€46,127
up €46,127 (+27425.5%), from €168 to €46,295
- Provisions -€27,372
new in 2024: -€27,372
- Depreciation -€12,260
no longer reported in 2024 (was €12,260)
- Financial charges +€3,929
up €3,929 (+26.8%), from €14,649 to €18,578
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €834,307 | €237,757 | -€596,549 | -71.5% |
| Fixed assets | 21/28 | €440,871 | €145,758 | -€295,114 | -66.9% |
| Tangible fixed assets | 22/27 | €440,871 | €145,758 | -€295,114 | -66.9% |
| Land and buildings | 22 | €420,648 | €145,758 | -€274,890 | -65.3% |
| Plant, machinery and equipment | 23 | €20,224 | - | -€20,224 | |
| Current assets | 29/58 | €393,435 | €91,999 | -€301,436 | -76.6% |
| Amounts receivable within one year | 40/41 | €37,139 | - | -€37,139 | |
| Trade receivables | 40 | €34,600 | - | -€34,600 | |
| Other amounts receivable | 41 | €2,539 | - | -€2,539 | |
| Cash at bank and in hand | 54/58 | €15,748 | €6,473 | -€9,275 | -58.9% |
| Deferred charges and accrued income | 490/1 | €340,548 | €85,527 | -€255,022 | -74.9% |
| Total equity and liabilities | 10/49 | €834,307 | €237,757 | -€596,549 | -71.5% |
| Equity | 10/15 | €45,062 | -€68,439 | -€113,502 | |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €24,123 | €24,123 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,873 | €9,873 | = | 0.0% |
| Legal reserve | 130 | €9,873 | €9,873 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,250 | €14,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,034 | -€154,536 | -€113,502 | -276.6% |
| Provisions and deferred taxes | 16 | €27,372 | - | -€27,372 | |
| Provisions for liabilities and charges | 160/5 | €27,372 | - | -€27,372 | |
| Environmental obligations | 163 | €27,372 | - | -€27,372 | |
| Amounts payable | 17/49 | €761,873 | €306,197 | -€455,676 | -59.8% |
| Amounts payable after more than one year | 17 | €334,241 | - | -€334,241 | |
| Financial debts | 170/4 | €334,241 | - | -€334,241 | |
| Amounts payable within one year | 42/48 | €427,631 | €306,197 | -€121,435 | -28.4% |
| Trade debts | 44 | €26,260 | - | -€26,260 | |
| Suppliers | 440/4 | €26,260 | - | -€26,260 | |
| Advances received on contracts in progress | 46 | €27,000 | - | -€27,000 | |
| Other amounts payable | 47/48 | €374,372 | €306,197 | -€68,175 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,260 | - | -€12,260 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€27,372 | -€27,372 | |
| Other operating charges | 640/8 | €168 | €46,295 | +€46,127 | +27425.5% |
| Non-recurring operating charges | 66A | €1,507 | - | -€1,507 | |
| Gross operating margin | 9900 | -€26,263 | -€76,000 | -€49,736 | -189.4% |
| Operating profit (loss) | 9901 | -€40,199 | -€94,923 | -€54,724 | -136.1% |
| Financial charges | 65/66B | €14,649 | €18,578 | +€3,929 | +26.8% |
| Recurring financial charges | 65 | €14,649 | €18,578 | +€3,929 | +26.8% |
| Profit (loss) for the period before taxes | 9903 | -€54,849 | -€113,502 | -€58,653 | -106.9% |
| Profit (loss) for the period | 9904 | -€54,849 | -€113,502 | -€58,653 | -106.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,849 | -€113,502 | -€58,653 | -106.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.