FIRST CLASS TRAVEL: 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.
FIRST CLASS TRAVEL
Largest movements
- Cash +€17,574
up €17,574 (+98.3%), from €17,886 to €35,460
mainly Trade debts (+€15,507) and Receivables within one year (+€9,127)
- Receivables within one year -€9,127
down €9,127 (-24.0%), from €38,026 to €28,900
of which Trade receivables: -€7,429
- Tangible fixed assets -€5,459
down €5,459 (-2.8%), from €197,510 to €192,051
of which Land and buildings: -€3,909
- Trade debts +€15,507
up €15,507 (+34.1%), from €45,484 to €60,991
- Debts after one year -€8,129
down €8,129 (-6.6%), from €122,429 to €114,300
- Contributions -€4,000
down €4,000 (-16.7%), from €24,000 to €20,000
- Reserves -€3,151
down €3,151 (-6.5%), from €48,601 to €45,450
- Gross operating margin +€15,352
up €15,352 (+61.8%), from €24,850 to €40,202
- Staff costs +€2,252
up €2,252 (+6.7%), from €33,749 to €36,001
- Financial charges +€1,514
up €1,514 (+42.3%), from €3,581 to €5,095
- Depreciation -€1,378
down €1,378 (-20.2%), from €6,837 to €5,459
- Taxes +€1,000
up €1,000, from -€1,000 to €0
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 | €253,423 | €256,576 | +€3,153 | +1.2% |
| Fixed assets | 21/28 | €197,510 | €192,051 | -€5,459 | -2.8% |
| Tangible fixed assets | 22/27 | €197,510 | €192,051 | -€5,459 | -2.8% |
| Land and buildings | 22 | €193,500 | €189,591 | -€3,909 | -2.0% |
| Plant, machinery and equipment | 23 | €55 | €0 | -€55 | -100% |
| Furniture and vehicles | 24 | €3,733 | €2,461 | -€1,272 | -34.1% |
| Other tangible fixed assets | 26 | €222 | €0 | -€222 | -100% |
| Current assets | 29/58 | €55,913 | €64,525 | +€8,612 | +15.4% |
| Amounts receivable within one year | 40/41 | €38,026 | €28,900 | -€9,127 | -24.0% |
| Trade receivables | 40 | €32,773 | €25,345 | -€7,429 | -22.7% |
| Other amounts receivable | 41 | €5,253 | €3,555 | -€1,698 | -32.3% |
| Cash at bank and in hand | 54/58 | €17,886 | €35,460 | +€17,574 | +98.3% |
| Deferred charges and accrued income | 490/1 | - | €165 | +€165 | |
| Total equity and liabilities | 10/49 | €253,423 | €256,576 | +€3,153 | +1.2% |
| Equity | 10/15 | €72,601 | €65,450 | -€7,151 | -9.8% |
| Contributions | 10/11 | €24,000 | €20,000 | -€4,000 | -16.7% |
| Reserves | 13 | €48,601 | €45,450 | -€3,151 | -6.5% |
| Distributable reserves | 133 | €48,601 | €45,450 | -€3,151 | -6.5% |
| Amounts payable | 17/49 | €180,822 | €191,126 | +€10,304 | +5.7% |
| Amounts payable after more than one year | 17 | €122,429 | €114,300 | -€8,129 | -6.6% |
| Financial debts | 170/4 | €122,429 | €114,300 | -€8,129 | -6.6% |
| Amounts payable within one year | 42/48 | €58,393 | €76,826 | +€18,433 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €7,991 | €8,129 | +€138 | +1.7% |
| Trade debts | 44 | €45,484 | €60,991 | +€15,507 | +34.1% |
| Suppliers | 440/4 | €45,484 | €60,991 | +€15,507 | +34.1% |
| Taxes, remuneration and social security | 45 | €4,785 | €5,986 | +€1,201 | +25.1% |
| Taxes | 450/3 | - | €719 | +€719 | |
| Remuneration and social security | 454/9 | €4,785 | €5,267 | +€482 | +10.1% |
| Other amounts payable | 47/48 | €133 | €1,720 | +€1,587 | +1,193% |
| Remuneration, social security and pensions | 62 | €33,749 | €36,001 | +€2,252 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,837 | €5,459 | -€1,378 | -20.2% |
| Other operating charges | 640/8 | €1,135 | €1,248 | +€113 | +9.9% |
| Gross operating margin | 9900 | €24,850 | €40,202 | +€15,352 | +61.8% |
| Operating profit (loss) | 9901 | -€16,872 | -€2,506 | +€14,366 | +85.1% |
| Financial income | 75/76B | €0 | €450 | +€450 | +450,030% |
| Recurring financial income | 75 | €0 | €450 | +€450 | +450,030% |
| Financial charges | 65/66B | €3,581 | €5,095 | +€1,514 | +42.3% |
| Recurring financial charges | 65 | €3,581 | €5,095 | +€1,514 | +42.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,452 | -€7,151 | +€13,302 | +65.0% |
| Income taxes | 67/77 | -€1,000 | €0 | +€1,000 | |
| Profit (loss) for the period | 9904 | -€19,452 | -€7,151 | +€12,302 | +63.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,452 | -€7,151 | +€12,302 | +63.2% |
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 26 October 2026 via checked.be.