FLY AWAY: 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.
FLY AWAY
Largest movements
- Tangible fixed assets -€168,281
down €168,281 (-18.3%), from €918,837 to €750,556
- Cash -€29,967
down €29,967 (-87.1%), from €34,418 to €4,452
mainly Investment in fixed assets (net) (-€161,014) and Trade debts (-€139,396)
- Receivables within one year +€25,241
up €25,241 (+5.7%), from €443,277 to €468,518
of which Trade receivables: +€39,185
- Trade debts -€139,396
down €139,396 (-38.4%), from €363,467 to €224,071
- Profit (loss) carried forward -€61,428
down €61,428 (-58.5%), from €104,933 to €43,506
- Debts after one year +€51,184
up €51,184 (+12.4%), from €411,581 to €462,766
- Short-term financial debts -€40,000
no longer reported in 2025 (was €40,000)
- Tax, wage and social debts +€15,123
up €15,123 (+13.5%), from €112,015 to €127,138
of which Taxes: +€37,727
- Depreciation +€55,493
up €55,493 (+20.2%), from €275,035 to €330,528
- Gross operating margin -€46,021
down €46,021 (-6.3%), from €736,029 to €690,008
- Taxes -€16,700
down €16,700 (-96.4%), from €17,322 to €622
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 | €1,499,266 | €1,325,025 | -€174,240 | -11.6% |
| Fixed assets | 21/28 | €921,570 | €752,056 | -€169,514 | -18.4% |
| Intangible fixed assets | 21 | €1,233 | - | -€1,233 | |
| Tangible fixed assets | 22/27 | €918,837 | €750,556 | -€168,281 | -18.3% |
| Land and buildings | 22 | - | €818 | +€818 | |
| Plant, machinery and equipment | 23 | €246,762 | €163,840 | -€82,923 | -33.6% |
| Furniture and vehicles | 24 | €47,676 | €31,009 | -€16,668 | -35.0% |
| Leasing and similar rights | 25 | €374,489 | €307,949 | -€66,540 | -17.8% |
| Other tangible fixed assets | 26 | €249,909 | €246,940 | -€2,969 | -1.2% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €577,696 | €572,970 | -€4,726 | -0.8% |
| Amounts receivable within one year | 40/41 | €443,277 | €468,518 | +€25,241 | +5.7% |
| Trade receivables | 40 | €205,550 | €244,736 | +€39,185 | +19.1% |
| Other amounts receivable | 41 | €237,727 | €223,782 | -€13,945 | -5.9% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,418 | €4,452 | -€29,967 | -87.1% |
| Total equity and liabilities | 10/49 | €1,499,266 | €1,325,025 | -€174,240 | -11.6% |
| Equity | 10/15 | €354,412 | €292,985 | -€61,428 | -17.3% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €169,479 | €169,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €107,141 | €107,141 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,141 | €7,141 | = | 0.0% |
| Own shares acquired | 1312 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €62,338 | €62,338 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,933 | €43,506 | -€61,428 | -58.5% |
| Amounts payable | 17/49 | €1,144,853 | €1,032,041 | -€112,813 | -9.9% |
| Amounts payable after more than one year | 17 | €411,581 | €462,766 | +€51,184 | +12.4% |
| Financial debts | 170/4 | €411,581 | €462,766 | +€51,184 | +12.4% |
| Amounts payable within one year | 42/48 | €733,272 | €569,275 | -€163,997 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €217,790 | €218,066 | +€276 | +0.1% |
| Financial debts | 43 | €40,000 | - | -€40,000 | |
| Credit institutions | 430/8 | €40,000 | - | -€40,000 | |
| Trade debts | 44 | €363,467 | €224,071 | -€139,396 | -38.4% |
| Suppliers | 440/4 | €363,467 | €224,071 | -€139,396 | -38.4% |
| Taxes, remuneration and social security | 45 | €112,015 | €127,138 | +€15,123 | +13.5% |
| Taxes | 450/3 | €43,952 | €81,679 | +€37,727 | +85.8% |
| Remuneration and social security | 454/9 | €68,063 | €45,459 | -€22,604 | -33.2% |
| Remuneration, social security and pensions | 62 | €381,732 | €381,213 | -€519 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275,035 | €330,528 | +€55,493 | +20.2% |
| Other operating charges | 640/8 | €4,316 | €6,912 | +€2,596 | +60.1% |
| Gross operating margin | 9900 | €736,029 | €690,008 | -€46,021 | -6.3% |
| Operating profit (loss) | 9901 | €74,946 | -€28,645 | -€103,591 | |
| Financial income | 75/76B | €2,389 | €3,105 | +€716 | +30.0% |
| Recurring financial income | 75 | €2,389 | €3,105 | +€716 | +30.0% |
| Financial charges | 65/66B | €27,964 | €35,265 | +€7,301 | +26.1% |
| Recurring financial charges | 65 | €27,964 | €35,265 | +€7,301 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | €49,371 | -€60,805 | -€110,176 | |
| Income taxes | 67/77 | €17,322 | €622 | -€16,700 | -96.4% |
| Profit (loss) for the period | 9904 | €32,049 | -€61,428 | -€93,476 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,049 | -€61,428 | -€93,476 |
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.