MANAGEMENT, PROCESSES & AIRLINES: 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.
What changed
MANAGEMENT, PROCESSES & AIRLINES
NACE 73.200, Market research and public opinion polling
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€73,761
2024 · -€74,789+€1,029
Equity
€86,798
2024 · €160,559-€73,761
Cash
€2,239
2024 · -+€2,239
Balance sheet total
€1.0m
2024 · €1.1m-€38,458
Largest movements
Assets
- Tangible fixed assets -€38,801
down €38,801 (-3.7%), from €1.1m to €1.0m
of which Land and buildings: -€36,087
Equity and liabilities
- Profit (loss) carried forward -€73,761
down €73,761 (-92.9%), from -€79,425 to -€153,186
- Debts after one year +€29,652
up €29,652 (+3.4%), from €881,739 to €911,391
Income statement
- Gross operating margin +€21,565
up €21,565, from -€18,170 to €3,395
- Depreciation +€20,412
up €20,412 (+38.1%), from €53,525 to €73,937
- Financial charges -€322
down €322 (-45.1%), from €713 to €391
- Taxes +€306
up €306 (+125%), from €245 to €551
- Financial income -€284
down €284 (-32.0%), from €887 to €603
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.
Result 2024
-€74,789
Gross operating margin
+€21,565
Depreciation
-€20,412
Other operating charges
+€144
Financial income
-€284
Financial charges
+€322
Taxes
-€306
Result 2025
-€73,761
raises the resultlowers the result
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.
From operations
+€11,112
Investment
-€34,453
Financing
+€25,579
Cash 2024
€0
From operations (derived)
+€11,112
Net result for the year
-€73,761
Depreciation
+€73,937
Receivables within one year
+€9,758
Deferred charges and accrued income
-€8,545
Trade debts
-€1,440
Tax, wage and social debts
+€1,998
Advances received
+€9,247
Accrued charges and deferred income
-€83
Investment (derived)
-€34,453
Investment in fixed assets (net)
-€34,453
Financing
+€25,579
Debts after one year
+€29,652
Short-term financial debts
-€4,072
Cash 2025
€2,239
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,077,365 | €1,038,907 | -€38,458 | -3.6% |
| Fixed assets | 21/28 | €1,059,665 | €1,020,180 | -€39,485 | -3.7% |
| Intangible fixed assets | 21 | €9,261 | €8,578 | -€684 | -7.4% |
| Tangible fixed assets | 22/27 | €1,050,103 | €1,011,303 | -€38,801 | -3.7% |
| Land and buildings | 22 | €815,698 | €779,611 | -€36,087 | -4.4% |
| Plant, machinery and equipment | 23 | €66,902 | €59,912 | -€6,990 | -10.4% |
| Furniture and vehicles | 24 | €167,504 | €171,780 | +€4,276 | +2.6% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €17,700 | €18,727 | +€1,027 | +5.8% |
| Amounts receivable within one year | 40/41 | €16,091 | €6,333 | -€9,758 | -60.6% |
| Trade receivables | 40 | €11,957 | €5,153 | -€6,803 | -56.9% |
| Other amounts receivable | 41 | €4,134 | €1,180 | -€2,954 | -71.5% |
| Cash at bank and in hand | 54/58 | - | €2,239 | +€2,239 | |
| Deferred charges and accrued income | 490/1 | €1,609 | €10,154 | +€8,545 | +531% |
| Total equity and liabilities | 10/49 | €1,077,365 | €1,038,907 | -€38,458 | -3.6% |
| Equity | 10/15 | €160,559 | €86,798 | -€73,761 | -45.9% |
| Contributions | 10/11 | €68,000 | €68,000 | = | 0.0% |
| Capital | 10 | €68,000 | €68,000 | = | 0.0% |
| Issued capital | 100 | €68,000 | €68,000 | = | 0.0% |
| Reserves | 13 | €171,984 | €171,984 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,800 | €12,800 | = | 0.0% |
| Legal reserve | 130 | €12,800 | €12,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,135 | €17,135 | = | 0.0% |
| Distributable reserves | 133 | €142,049 | €142,049 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,425 | -€153,186 | -€73,761 | -92.9% |
| Amounts payable | 17/49 | €916,806 | €952,109 | +€35,303 | +3.9% |
| Amounts payable after more than one year | 17 | €881,739 | €911,391 | +€29,652 | +3.4% |
| Other amounts payable | 178/9 | €881,739 | €911,391 | +€29,652 | +3.4% |
| Amounts payable within one year | 42/48 | €34,984 | €40,718 | +€5,734 | +16.4% |
| Financial debts | 43 | €4,072 | - | -€4,072 | |
| Credit institutions | 430/8 | €4,072 | - | -€4,072 | |
| Trade debts | 44 | €30,667 | €29,227 | -€1,440 | -4.7% |
| Suppliers | 440/4 | €30,667 | €29,227 | -€1,440 | -4.7% |
| Advances received on contracts in progress | 46 | - | €9,247 | +€9,247 | |
| Taxes, remuneration and social security | 45 | €245 | €2,243 | +€1,998 | +817% |
| Taxes | 450/3 | €245 | €2,243 | +€1,998 | +817% |
| Accrued charges and deferred income | 492/3 | €83 | - | -€83 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,525 | €73,937 | +€20,412 | +38.1% |
| Other operating charges | 640/8 | €3,024 | €2,880 | -€144 | -4.8% |
| Gross operating margin | 9900 | -€18,170 | €3,395 | +€21,565 | |
| Operating profit (loss) | 9901 | -€74,719 | -€73,422 | +€1,297 | +1.7% |
| Financial income | 75/76B | €887 | €603 | -€284 | -32.0% |
| Recurring financial income | 75 | €887 | €603 | -€284 | -32.0% |
| Financial charges | 65/66B | €713 | €391 | -€322 | -45.1% |
| Recurring financial charges | 65 | €713 | €391 | -€322 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | -€74,545 | -€73,210 | +€1,335 | +1.8% |
| Income taxes | 67/77 | €245 | €551 | +€306 | +125% |
| Profit (loss) for the period | 9904 | -€74,789 | -€73,761 | +€1,029 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€74,789 | -€73,761 | +€1,029 | +1.4% |
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.