ICELANDAIR LOGISTIC: 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.
ICELANDAIR LOGISTIC
Largest movements
- Cash +€98,706
up €98,706 (+51.8%), from €190,535 to €289,241
mainly Net result for the year (+€77,370) and Tax, wage and social debts (+€18,812)
- Tangible fixed assets -€17,471
down €17,471 (-24.9%), from €70,123 to €52,652
of which Leasing and similar rights: -€17,471
- Receivables within one year -€11,417
down €11,417 (-3.5%), from €325,723 to €314,305
of which Other amounts receivable: -€6,575
- Profit (loss) carried forward +€77,370
up €77,370 (+83.7%), from €92,493 to €169,863
- Debts after one year -€19,549
down €19,549 (-31.7%), from €61,635 to €42,086
- Tax, wage and social debts +€18,812
up €18,812 (+17.1%), from €109,935 to €128,747
of which Taxes: +€32,363
- Trade debts -€7,748
down €7,748 (-4.4%), from €175,501 to €167,753
- Staff costs -€125,008
down €125,008 (-15.5%), from €806,884 to €681,876
- Gross operating margin -€33,622
down €33,622 (-4.0%), from €847,425 to €813,803
- Taxes +€33,496
up €33,496 (+457%), from €7,329 to €40,826
- Write-downs -€18,539
down €18,539, from €12,539 to -€6,000
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 | €586,381 | €656,199 | +€69,818 | +11.9% |
| Fixed assets | 21/28 | €70,123 | €52,652 | -€17,471 | -24.9% |
| Tangible fixed assets | 22/27 | €70,123 | €52,652 | -€17,471 | -24.9% |
| Furniture and vehicles | 24 | €241 | €241 | = | 0.0% |
| Leasing and similar rights | 25 | €69,882 | €52,412 | -€17,471 | -25.0% |
| Current assets | 29/58 | €516,258 | €603,547 | +€87,289 | +16.9% |
| Amounts receivable within one year | 40/41 | €325,723 | €314,305 | -€11,417 | -3.5% |
| Trade receivables | 40 | €317,052 | €312,210 | -€4,842 | -1.5% |
| Other amounts receivable | 41 | €8,670 | €2,095 | -€6,575 | -75.8% |
| Cash at bank and in hand | 54/58 | €190,535 | €289,241 | +€98,706 | +51.8% |
| Total equity and liabilities | 10/49 | €586,381 | €656,199 | +€69,818 | +11.9% |
| Equity | 10/15 | €215,693 | €293,063 | +€77,370 | +35.9% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €11,200 | €11,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,200 | €11,200 | = | 0.0% |
| Legal reserve | 130 | €11,200 | €11,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,493 | €169,863 | +€77,370 | +83.7% |
| Amounts payable | 17/49 | €370,688 | €363,136 | -€7,552 | -2.0% |
| Amounts payable after more than one year | 17 | €61,635 | €42,086 | -€19,549 | -31.7% |
| Financial debts | 170/4 | €61,635 | €42,086 | -€19,549 | -31.7% |
| Amounts payable within one year | 42/48 | €304,053 | €316,050 | +€11,997 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €18,616 | €19,549 | +€933 | +5.0% |
| Trade debts | 44 | €175,501 | €167,753 | -€7,748 | -4.4% |
| Suppliers | 440/4 | €175,501 | €167,753 | -€7,748 | -4.4% |
| Taxes, remuneration and social security | 45 | €109,935 | €128,747 | +€18,812 | +17.1% |
| Taxes | 450/3 | €27,419 | €59,781 | +€32,363 | +118% |
| Remuneration and social security | 454/9 | €82,517 | €68,966 | -€13,551 | -16.4% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €806,884 | €681,876 | -€125,008 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,471 | €17,471 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,539 | -€6,000 | -€18,539 | |
| Gross operating margin | 9900 | €847,425 | €813,803 | -€33,622 | -4.0% |
| Operating profit (loss) | 9901 | €10,532 | €120,457 | +€109,925 | +1,044% |
| Financial income | 75/76B | €5,795 | €4,080 | -€1,715 | -29.6% |
| Recurring financial income | 75 | €5,795 | €4,080 | -€1,715 | -29.6% |
| Financial charges | 65/66B | €6,225 | €6,341 | +€116 | +1.9% |
| Recurring financial charges | 65 | €6,225 | €6,341 | +€116 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €10,102 | €118,196 | +€108,095 | +1,070% |
| Income taxes | 67/77 | €7,329 | €40,826 | +€33,496 | +457% |
| Profit (loss) for the period | 9904 | €2,772 | €77,370 | +€74,598 | +2,691% |
| Profit (loss) for the period to be appropriated | 9905 | €2,772 | €77,370 | +€74,598 | +2,691% |
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.