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
- Tangible fixed assets -€127,176
down €127,176 (-41.0%), from €310,305 to €183,129
of which Leasing and similar rights: -€117,906
- Financial fixed assets +€100,000
up €100,000 (+1.6%), from €6.1m to €6.2m
- Reserves +€148,930
up €148,930 (+28.7%), from €519,189 to €668,119
of which Distributable reserves: +€148,930
- Current portion of long-term debt -€78,972
down €78,972 (-49.7%), from €158,848 to €79,876
- Trade debts -€77,704
down €77,704 (-60.9%), from €127,604 to €49,900
- Gross operating margin +€331,874
up €331,874 (+237.8%), from €139,564 to €471,437
- Financial income -€149,016
down €149,016 (-99.2%), from €150,236 to €1,219
- Depreciation +€60,156
up €60,156 (+69.0%), from €87,177 to €147,333
- Taxes +€10,977
up €10,977 (+1347.6%), from €815 to €11,791
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,567,788 | €6,570,094 | +€2,307 | 0.0% |
| Fixed assets | 21/28 | €6,489,724 | €6,433,121 | -€56,602 | -0.9% |
| Intangible fixed assets | 21 | €62,544 | €33,117 | -€29,427 | -47.0% |
| Tangible fixed assets | 22/27 | €310,305 | €183,129 | -€127,176 | -41.0% |
| Furniture and vehicles | 24 | €9,269 | €0 | -€9,269 | -100.0% |
| Leasing and similar rights | 25 | €301,036 | €183,129 | -€117,906 | -39.2% |
| Financial fixed assets | 28 | €6,116,875 | €6,216,875 | +€100,000 | +1.6% |
| Current assets | 29/58 | €78,064 | €136,973 | +€58,909 | +75.5% |
| Amounts receivable within one year | 40/41 | €50,000 | €49,709 | -€291 | -0.6% |
| Trade receivables | 40 | €0 | €11,500 | +€11,500 | |
| Other amounts receivable | 41 | €50,000 | €38,209 | -€11,791 | -23.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €7,801 | €48,297 | +€40,496 | +519.1% |
| Deferred charges and accrued income | 490/1 | €20,263 | €38,968 | +€18,705 | +92.3% |
| Total equity and liabilities | 10/49 | €6,567,788 | €6,570,094 | +€2,307 | 0.0% |
| Equity | 10/15 | €1,319,189 | €1,468,119 | +€148,930 | +11.3% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €519,189 | €668,119 | +€148,930 | +28.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €519,189 | €668,119 | +€148,930 | +28.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €5,248,599 | €5,101,976 | -€146,624 | -2.8% |
| Amounts payable after more than one year | 17 | €4,506,708 | €4,520,085 | +€13,376 | +0.3% |
| Financial debts | 170/4 | €4,506,708 | €4,520,085 | +€13,376 | +0.3% |
| Amounts payable within one year | 42/48 | €732,246 | €578,634 | -€153,612 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €158,848 | €79,876 | -€78,972 | -49.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €127,604 | €49,900 | -€77,704 | -60.9% |
| Suppliers | 440/4 | €127,604 | €49,900 | -€77,704 | -60.9% |
| Taxes, remuneration and social security | 45 | €15,794 | €61,558 | +€45,764 | +289.7% |
| Taxes | 450/3 | €15,794 | €61,558 | +€45,764 | +289.7% |
| Other amounts payable | 47/48 | €430,000 | €387,300 | -€42,700 | -9.9% |
| Accrued charges and deferred income | 492/3 | €9,644 | €3,257 | -€6,388 | -66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,177 | €147,333 | +€60,156 | +69.0% |
| Other operating charges | 640/8 | €4,012 | €6,159 | +€2,147 | +53.5% |
| Gross operating margin | 9900 | €139,564 | €471,437 | +€331,874 | +237.8% |
| Operating profit (loss) | 9901 | €48,375 | €317,945 | +€269,571 | +557.3% |
| Financial income | 75/76B | €150,236 | €1,219 | -€149,016 | -99.2% |
| Recurring financial income | 75 | €150,236 | €1,219 | -€149,016 | -99.2% |
| Financial charges | 65/66B | €163,075 | €158,443 | -€4,631 | -2.8% |
| Recurring financial charges | 65 | €163,075 | €158,443 | -€4,631 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €35,536 | €160,722 | +€125,186 | +352.3% |
| Income taxes | 67/77 | €815 | €11,791 | +€10,977 | +1347.6% |
| Profit (loss) for the period | 9904 | €34,721 | €148,930 | +€114,209 | +328.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,721 | €148,930 | +€114,209 | +328.9% |
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 5 October 2026 via checked.be.