MAKE IT FLY: what changed
Two fiscal 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.
MAKE IT FLY
Largest movements
- Receivables within one year -€16,222
down €16,222 (-34.3%), from €47,264 to €31,042
of which Other amounts receivable: -€17,958
- Cash +€10,905
up €10,905 (+116.2%), from €9,384 to €20,290
mainly Net result for the year (+€36,024) and Receivables within one year (+€16,222)
- Tangible fixed assets -€7,208
down €7,208 (-26.1%), from €27,631 to €20,422
of which Furniture and vehicles: -€6,610
- Current portion of long-term debt -€9,717
down €9,717 (-53.9%), from €18,040 to €8,323
- Debts after one year -€8,323
down €8,323 (-51.2%), from €16,262 to €7,939
- Other debts +€3,008
up €3,008 (+10.9%), from €27,612 to €30,621
- Tax, wage and social debts +€1,873
up €1,873 (+11.1%), from €16,871 to €18,744
- Gross operating margin +€13,604
up €13,604 (+31.3%), from €43,418 to €57,022
- Depreciation +€7,530
up €7,530 (+458.7%), from €1,642 to €9,172
- Taxes +€1,256
up €1,256 (+13.3%), from €9,470 to €10,726
- Financial income -€650
down €650 (-51.1%), from €1,273 to €622
- Financial charges +€615
up €615 (+86.9%), from €708 to €1,323
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.
Cash bridge derived
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 | €84,595 | €72,086 | -€12,509 | -14.8% |
| Fixed assets | 21/28 | €27,631 | €20,422 | -€7,208 | -26.1% |
| Tangible fixed assets | 22/27 | €27,631 | €20,422 | -€7,208 | -26.1% |
| Furniture and vehicles | 24 | €23,854 | €17,245 | -€6,610 | -27.7% |
| Other tangible fixed assets | 26 | €3,776 | €3,178 | -€599 | -15.9% |
| Current assets | 29/58 | €56,965 | €51,664 | -€5,301 | -9.3% |
| Amounts receivable within one year | 40/41 | €47,264 | €31,042 | -€16,222 | -34.3% |
| Trade receivables | 40 | €14,243 | €15,979 | +€1,736 | +12.2% |
| Other amounts receivable | 41 | €33,021 | €15,064 | -€17,958 | -54.4% |
| Cash at bank and in hand | 54/58 | €9,384 | €20,290 | +€10,905 | +116.2% |
| Deferred charges and accrued income | 490/1 | €316 | €333 | +€16 | +5.1% |
| Total equity and liabilities | 10/49 | €84,595 | €72,086 | -€12,509 | -14.8% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €79,595 | €67,086 | -€12,509 | -15.7% |
| Amounts payable after more than one year | 17 | €16,262 | €7,939 | -€8,323 | -51.2% |
| Financial debts | 170/4 | €16,262 | €7,939 | -€8,323 | -51.2% |
| Amounts payable within one year | 42/48 | €63,333 | €59,147 | -€4,186 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €18,040 | €8,323 | -€9,717 | -53.9% |
| Trade debts | 44 | €810 | €1,459 | +€649 | +80.2% |
| Suppliers | 440/4 | €810 | €1,459 | +€649 | +80.2% |
| Taxes, remuneration and social security | 45 | €16,871 | €18,744 | +€1,873 | +11.1% |
| Taxes | 450/3 | €16,871 | €18,744 | +€1,873 | +11.1% |
| Other amounts payable | 47/48 | €27,612 | €30,621 | +€3,008 | +10.9% |
| Non-recurring operating income | 76A | - | €202 | +€202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,642 | €9,172 | +€7,530 | +458.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €43,418 | €57,022 | +€13,604 | +31.3% |
| Operating profit (loss) | 9901 | €41,389 | €47,450 | +€6,061 | +14.6% |
| Financial income | 75/76B | €1,273 | €622 | -€650 | -51.1% |
| Recurring financial income | 75 | €1,273 | €622 | -€650 | -51.1% |
| Financial charges | 65/66B | €708 | €1,323 | +€615 | +86.9% |
| Recurring financial charges | 65 | €708 | €1,323 | +€615 | +86.9% |
| Profit (loss) for the period before taxes | 9903 | €41,954 | €46,750 | +€4,796 | +11.4% |
| Income taxes | 67/77 | €9,470 | €10,726 | +€1,256 | +13.3% |
| Profit (loss) for the period | 9904 | €32,485 | €36,024 | +€3,539 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,485 | €36,024 | +€3,539 | +10.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.