Just Air: 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.
Just Air
Largest movements
- Cash +€25,847
up €25,847 (+22.2%), from €116,393 to €142,240
mainly Short-term financial debts (+€125,000) and Depreciation (+€117,917)
- Tangible fixed assets -€25,737
down €25,737 (-3.1%), from €835,384 to €809,647
of which Assets under construction and advance payments: -€314,884
- Deferred charges and accrued income -€15,083
down €15,083 (-80.9%), from €18,643 to €3,560
- Profit (loss) carried forward -€169,757
down €169,757 (-314%), from -€54,074 to -€223,831
- Short-term financial debts +€125,000
up €125,000 (+50.0%), from €250,000 to €375,000
- Trade debts +€31,473
up €31,473 (+40.8%), from €77,228 to €108,701
- Gross operating margin -€222,229
down €222,229, from €183,976 to -€38,252
- Other operating charges -€83,679
down €83,679 (-99.4%), from €84,222 to €543
- Depreciation +€53,291
up €53,291 (+82.5%), from €64,626 to €117,917
- Financial charges -€10,794
down €10,794 (-45.2%), from €23,899 to €13,105
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 | €1,167,735 | €1,156,423 | -€11,311 | -1.0% |
| Formation expenses | 20 | €917 | €151 | -€766 | -83.6% |
| Fixed assets | 21/28 | €835,384 | €809,647 | -€25,737 | -3.1% |
| Tangible fixed assets | 22/27 | €835,384 | €809,647 | -€25,737 | -3.1% |
| Plant, machinery and equipment | 23 | €129,770 | €424,371 | +€294,600 | +227% |
| Furniture and vehicles | 24 | €21,584 | €16,130 | -€5,454 | -25.3% |
| Assets under construction and advance payments | 27 | €684,030 | €369,147 | -€314,884 | -46.0% |
| Current assets | 29/58 | €331,434 | €346,626 | +€15,192 | +4.6% |
| Amounts receivable within one year | 40/41 | €196,398 | €200,826 | +€4,428 | +2.3% |
| Trade receivables | 40 | €192,499 | €189,248 | -€3,251 | -1.7% |
| Other amounts receivable | 41 | €3,899 | €11,578 | +€7,679 | +197% |
| Cash at bank and in hand | 54/58 | €116,393 | €142,240 | +€25,847 | +22.2% |
| Deferred charges and accrued income | 490/1 | €18,643 | €3,560 | -€15,083 | -80.9% |
| Total equity and liabilities | 10/49 | €1,167,735 | €1,156,423 | -€11,311 | -1.0% |
| Equity | 10/15 | €220,927 | €51,169 | -€169,757 | -76.8% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,074 | -€223,831 | -€169,757 | -314% |
| Amounts payable | 17/49 | €946,808 | €1,105,254 | +€158,446 | +16.7% |
| Amounts payable after more than one year | 17 | €142,857 | €134,458 | -€8,399 | -5.9% |
| Financial debts | 170/4 | €142,857 | €134,458 | -€8,399 | -5.9% |
| Amounts payable within one year | 42/48 | €803,951 | €970,796 | +€166,845 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €57,143 | €68,399 | +€11,256 | +19.7% |
| Financial debts | 43 | €250,000 | €375,000 | +€125,000 | +50.0% |
| Credit institutions | 430/8 | €250,000 | €375,000 | +€125,000 | +50.0% |
| Trade debts | 44 | €77,228 | €108,701 | +€31,473 | +40.8% |
| Suppliers | 440/4 | €77,228 | €108,701 | +€31,473 | +40.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €884 | €0 | -€884 | -100% |
| Taxes | 450/3 | €884 | €0 | -€884 | -100% |
| Other amounts payable | 47/48 | €418,696 | €418,696 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,626 | €117,917 | +€53,291 | +82.5% |
| Other operating charges | 640/8 | €84,222 | €543 | -€83,679 | -99.4% |
| Gross operating margin | 9900 | €183,976 | -€38,252 | -€222,229 | |
| Operating profit (loss) | 9901 | €35,128 | -€156,712 | -€191,841 | |
| Financial income | 75/76B | €46 | €60 | +€14 | +31.4% |
| Recurring financial income | 75 | €46 | €60 | +€14 | +31.4% |
| Financial charges | 65/66B | €23,899 | €13,105 | -€10,794 | -45.2% |
| Recurring financial charges | 65 | €23,899 | €13,105 | -€10,794 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €11,275 | -€169,757 | -€181,032 | |
| Profit (loss) for the period | 9904 | €11,275 | -€169,757 | -€181,032 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,275 | -€169,757 | -€181,032 |
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 17 October 2026 via checked.be.