INAIRSYS: 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.
INAIRSYS
Largest movements
- Receivables within one year -€162,264
down €162,264 (-64.9%), from €250,126 to €87,862
of which Trade receivables: -€147,765
- Cash -€54,412
down €54,412 (-49.7%), from €109,493 to €55,081
mainly Current portion of long-term debt (-€141,262) and Investment in fixed assets (net) (-€36,571)
- Tangible fixed assets +€22,751
up €22,751 (+4.6%), from €495,303 to €518,054
of which Furniture and vehicles: +€35,259
- Current portion of long-term debt -€141,262
down €141,262 (-86.4%), from €163,583 to €22,321
- Other debts +€59,075
up €59,075 (+568%), from €10,398 to €69,473
- Trade debts -€33,982
down €33,982 (-93.6%), from €36,287 to €2,305
- Profit (loss) carried forward -€33,611
down €33,611 (-49.0%), from €68,663 to €35,052
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Staff costs -€83,607
down €83,607 (-51.9%), from €161,065 to €77,458
- Gross operating margin -€29,954
down €29,954 (-27.5%), from €109,039 to €79,085
- Financial income -€10,026
down €10,026 (-100.0%), from €10,026 to €0
of which Financial income: -€6,206
- Taxes +€8,976
no longer reported in 2025 (was -€8,976)
- Depreciation -€1,960
down €1,960 (-12.4%), from €15,780 to €13,820
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 | €880,736 | €686,749 | -€193,987 | -22.0% |
| Fixed assets | 21/28 | €495,303 | €518,054 | +€22,751 | +4.6% |
| Tangible fixed assets | 22/27 | €495,303 | €518,054 | +€22,751 | +4.6% |
| Land and buildings | 22 | €490,347 | €479,077 | -€11,269 | -2.3% |
| Plant, machinery and equipment | 23 | €2,891 | €1,653 | -€1,239 | -42.8% |
| Furniture and vehicles | 24 | €2,065 | €37,324 | +€35,259 | +1,707% |
| Current assets | 29/58 | €385,433 | €168,695 | -€216,738 | -56.2% |
| Stocks and contracts in progress | 3 | €25,752 | €25,752 | = | 0.0% |
| Stocks | 30/36 | €25,752 | €25,752 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €250,126 | €87,862 | -€162,264 | -64.9% |
| Trade receivables | 40 | €168,341 | €20,576 | -€147,765 | -87.8% |
| Other amounts receivable | 41 | €81,785 | €67,286 | -€14,499 | -17.7% |
| Cash at bank and in hand | 54/58 | €109,493 | €55,081 | -€54,412 | -49.7% |
| Deferred charges and accrued income | 490/1 | €63 | - | -€63 | |
| Total equity and liabilities | 10/49 | €880,736 | €686,749 | -€193,987 | -22.0% |
| Equity | 10/15 | €223,723 | €190,112 | -€33,611 | -15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Share premium | 1100/10 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €136,460 | €136,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €134,600 | €134,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,663 | €35,052 | -€33,611 | -49.0% |
| Amounts payable | 17/49 | €657,013 | €496,636 | -€160,376 | -24.4% |
| Amounts payable after more than one year | 17 | €394,596 | €370,041 | -€24,555 | -6.2% |
| Financial debts | 170/4 | €394,596 | €370,041 | -€24,555 | -6.2% |
| Amounts payable within one year | 42/48 | €262,417 | €126,595 | -€135,821 | -51.8% |
| Current portion of amounts payable after more than one year | 42 | €163,583 | €22,321 | -€141,262 | -86.4% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €36,287 | €2,305 | -€33,982 | -93.6% |
| Suppliers | 440/4 | €36,287 | €2,305 | -€33,982 | -93.6% |
| Taxes, remuneration and social security | 45 | €27,149 | €32,496 | +€5,347 | +19.7% |
| Taxes | 450/3 | €8,912 | €9,096 | +€184 | +2.1% |
| Remuneration and social security | 454/9 | €18,237 | €23,400 | +€5,163 | +28.3% |
| Other amounts payable | 47/48 | €10,398 | €69,473 | +€59,075 | +568% |
| Remuneration, social security and pensions | 62 | €161,065 | €77,458 | -€83,607 | -51.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,780 | €13,820 | -€1,960 | -12.4% |
| Other operating charges | 640/8 | €3,154 | €2,889 | -€266 | -8.4% |
| Gross operating margin | 9900 | €109,039 | €79,085 | -€29,954 | -27.5% |
| Operating profit (loss) | 9901 | -€70,961 | -€15,082 | +€55,879 | +78.7% |
| Financial income | 75/76B | €10,026 | €0 | -€10,026 | -100.0% |
| Recurring financial income | 75 | €6,206 | €0 | -€6,206 | -100.0% |
| Non-recurring financial income | 76B | €3,820 | - | -€3,820 | |
| Financial charges | 65/66B | €19,765 | €18,528 | -€1,236 | -6.3% |
| Recurring financial charges | 65 | €19,765 | €18,528 | -€1,236 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€80,700 | -€33,611 | +€47,089 | +58.4% |
| Income taxes | 67/77 | -€8,976 | - | +€8,976 | |
| Profit (loss) for the period | 9904 | -€71,724 | -€33,611 | +€38,113 | +53.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,724 | -€33,611 | +€38,113 | +53.1% |
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 14 October 2026 via checked.be.