Le Dirigeable: what changed
What changed
Le Dirigeable
filed annual accounts (NBB)
Net result for the year
-€240,383
2024 · -€251,374+€10,992
Equity
€585,987
2024 · €826,370-€240,383
Cash
€50,394
2024 · €73,220-€22,826
Balance sheet total
€4.1m
2024 · €2.9m+€1.2m
Largest movements
Assets
- Tangible fixed assets +€1.1m
up €1.1m (+40.8%), from €2.8m to €3.9m
of which Land and buildings: +€1.1m
- Receivables within one year +€109,979
up €109,979 (+196%), from €56,251 to €166,229
Equity and liabilities
- Short-term financial debts +€855,380
up €855,380 (+61.1%), from €1.4m to €2.3m
- Other debts +€520,786
up €520,786 (+119%), from €438,913 to €959,699
- Profit (loss) carried forward -€220,665
down €220,665 (-57.3%), from -€384,846 to -€605,510
- Trade debts +€64,113
up €64,113 (+34.9%), from €183,873 to €247,986
Income statement
- Depreciation +€92,149
up €92,149 (+98.2%), from €93,852 to €186,001
- Financial charges -€12,456
down €12,456 (-16.5%), from €75,409 to €62,953
- Gross operating margin -€8,073
down €8,073 (-13.2%), from €61,180 to €53,107
- Financial income +€1,393
up €1,393 (+33.2%), from €4,200 to €5,594
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€251,374
Gross operating margin
-€8,073
Depreciation
-€92,149
Other operating charges
+€589
Other operating items
+€96,239
Financial income
+€1,393
Financial charges
+€12,456
Deferred taxes and other
+€536
Result 2025
-€240,383
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€425,061
Investment
-€1.3m
Financing
+€861,180
Cash 2024
€73,220
From operations (derived)
+€425,061
Net result for the year
-€240,383
Depreciation
+€186,001
Receivables within one year
-€109,979
Deferred charges and accrued income
+€14,095
Provisions
-€6,573
Trade debts
+€64,113
Other debts
+€520,786
Accrued charges and deferred income
-€3,000
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
+€861,180
Debts after one year
+€5,800
Short-term financial debts
+€855,380
Cash 2025
€50,394
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,904,228 | €4,100,351 | +€1.2m | +41.2% |
| Fixed assets | 21/28 | €2,760,661 | €3,883,728 | +€1.1m | +40.7% |
| Tangible fixed assets | 22/27 | €2,755,661 | €3,878,728 | +€1.1m | +40.8% |
| Land and buildings | 22 | €2,755,386 | €3,878,728 | +€1.1m | +40.8% |
| Furniture and vehicles | 24 | €275 | - | -€275 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €143,566 | €216,624 | +€73,058 | +50.9% |
| Amounts receivable within one year | 40/41 | €56,251 | €166,229 | +€109,979 | +196% |
| Other amounts receivable | 41 | €56,251 | €166,229 | +€109,979 | +196% |
| Cash at bank and in hand | 54/58 | €73,220 | €50,394 | -€22,826 | -31.2% |
| Deferred charges and accrued income | 490/1 | €14,095 | - | -€14,095 | |
| Total equity and liabilities | 10/49 | €2,904,228 | €4,100,351 | +€1.2m | +41.2% |
| Equity | 10/15 | €826,370 | €585,987 | -€240,383 | -29.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €211,216 | €191,498 | -€19,718 | -9.3% |
| Non-distributable reserves | 130/1 | €55,000 | €55,000 | = | 0.0% |
| Legal reserve | 130 | €55,000 | €55,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €156,216 | €136,498 | -€19,718 | -12.6% |
| Profit (loss) carried forward | 14 | -€384,846 | -€605,510 | -€220,665 | -57.3% |
| Provisions and deferred taxes | 16 | €52,072 | €45,499 | -€6,573 | -12.6% |
| Deferred taxes | 168 | €52,072 | €45,499 | -€6,573 | -12.6% |
| Amounts payable | 17/49 | €2,025,786 | €3,468,865 | +€1.4m | +71.2% |
| Amounts payable after more than one year | 17 | - | €5,800 | +€5,800 | |
| Other amounts payable | 178/9 | - | €5,800 | +€5,800 | |
| Amounts payable within one year | 42/48 | €2,022,786 | €3,463,065 | +€1.4m | +71.2% |
| Financial debts | 43 | €1,400,000 | €2,255,380 | +€855,380 | +61.1% |
| Credit institutions | 430/8 | €1,400,000 | €2,255,380 | +€855,380 | +61.1% |
| Trade debts | 44 | €183,873 | €247,986 | +€64,113 | +34.9% |
| Suppliers | 440/4 | €183,873 | €247,986 | +€64,113 | +34.9% |
| Other amounts payable | 47/48 | €438,913 | €959,699 | +€520,786 | +119% |
| Accrued charges and deferred income | 492/3 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,852 | €186,001 | +€92,149 | +98.2% |
| Other operating charges | 640/8 | €57,292 | €56,703 | -€589 | -1.0% |
| Non-recurring operating charges | 66A | €96,239 | - | -€96,239 | |
| Gross operating margin | 9900 | €61,180 | €53,107 | -€8,073 | -13.2% |
| Operating profit (loss) | 9901 | -€186,203 | -€189,596 | -€3,393 | -1.8% |
| Financial income | 75/76B | €4,200 | €5,594 | +€1,393 | +33.2% |
| Recurring financial income | 75 | €4,200 | €5,594 | +€1,393 | +33.2% |
| Financial charges | 65/66B | €75,409 | €62,953 | -€12,456 | -16.5% |
| Recurring financial charges | 65 | €75,409 | €62,953 | -€12,456 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | -€257,411 | -€246,955 | +€10,456 | +4.1% |
| Transfer from deferred taxes | 780 | €6,037 | €6,573 | +€536 | +8.9% |
| Profit (loss) for the period | 9904 | -€251,374 | -€240,383 | +€10,992 | +4.4% |
| Transfer from tax-exempt reserves | 789 | €18,110 | €19,718 | +€1,608 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€233,264 | -€220,665 | +€12,600 | +5.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.