P-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.
P-Air
Largest movements
- Cash +€64,009
up €64,009 (+83.7%), from €76,479 to €140,488
mainly Net result for the year (+€23,221) and Depreciation (+€16,555)
- Tangible fixed assets -€16,555
down €16,555 (-42.2%), from €39,215 to €22,660
of which Furniture and vehicles: -€16,354
- Receivables within one year -€10,003
down €10,003 (-42.3%), from €23,646 to €13,643
- Profit (loss) carried forward +€23,221
up €23,221 (+42.9%), from €54,146 to €77,366
- Tax, wage and social debts +€10,842
up €10,842 (+62.3%), from €17,416 to €28,258
of which Taxes: +€10,828
- Gross operating margin -€31,911
down €31,911 (-40.7%), from €78,445 to €46,534
- Taxes -€7,456
down €7,456 (-54.8%), from €13,601 to €6,145
- Depreciation +€6,094
up €6,094 (+58.3%), from €10,461 to €16,555
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 | €141,696 | €177,647 | +€35,951 | +25.4% |
| Fixed assets | 21/28 | €39,215 | €22,660 | -€16,555 | -42.2% |
| Tangible fixed assets | 22/27 | €39,215 | €22,660 | -€16,555 | -42.2% |
| Plant, machinery and equipment | 23 | €424 | €223 | -€201 | -47.3% |
| Furniture and vehicles | 24 | €38,791 | €22,436 | -€16,354 | -42.2% |
| Current assets | 29/58 | €102,481 | €154,987 | +€52,506 | +51.2% |
| Amounts receivable within one year | 40/41 | €23,646 | €13,643 | -€10,003 | -42.3% |
| Trade receivables | 40 | €23,646 | €13,643 | -€10,003 | -42.3% |
| Cash at bank and in hand | 54/58 | €76,479 | €140,488 | +€64,009 | +83.7% |
| Deferred charges and accrued income | 490/1 | €2,356 | €857 | -€1,500 | -63.6% |
| Total equity and liabilities | 10/49 | €141,696 | €177,647 | +€35,951 | +25.4% |
| Equity | 10/15 | €57,146 | €80,366 | +€23,221 | +40.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,146 | €77,366 | +€23,221 | +42.9% |
| Amounts payable | 17/49 | €84,551 | €97,281 | +€12,730 | +15.1% |
| Amounts payable within one year | 42/48 | €84,551 | €97,281 | +€12,730 | +15.1% |
| Trade debts | 44 | €2,094 | €3,079 | +€985 | +47.0% |
| Suppliers | 440/4 | €2,094 | €3,079 | +€985 | +47.0% |
| Taxes, remuneration and social security | 45 | €17,416 | €28,258 | +€10,842 | +62.3% |
| Taxes | 450/3 | €15,116 | €25,944 | +€10,828 | +71.6% |
| Remuneration and social security | 454/9 | €2,300 | €2,314 | +€14 | +0.6% |
| Other amounts payable | 47/48 | €65,040 | €65,943 | +€903 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,461 | €16,555 | +€6,094 | +58.3% |
| Other operating charges | 640/8 | €128 | €298 | +€170 | +133% |
| Gross operating margin | 9900 | €78,445 | €46,534 | -€31,911 | -40.7% |
| Operating profit (loss) | 9901 | €67,856 | €29,682 | -€38,174 | -56.3% |
| Financial income | 75/76B | €2 | €10 | +€8 | +311% |
| Recurring financial income | 75 | €2 | €10 | +€8 | +311% |
| Non-recurring financial income | 76B | €2 | €10 | +€8 | +311% |
| Financial charges | 65/66B | €112 | €326 | +€214 | +191% |
| Recurring financial charges | 65 | €112 | €324 | +€212 | +189% |
| Non-recurring financial charges | 66B | - | €2 | +€2 | |
| Profit (loss) for the period before taxes | 9903 | €67,746 | €29,365 | -€38,381 | -56.7% |
| Income taxes | 67/77 | €13,601 | €6,145 | -€7,456 | -54.8% |
| Profit (loss) for the period | 9904 | €54,146 | €23,221 | -€30,925 | -57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,146 | €23,221 | -€30,925 | -57.1% |
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 19 October 2026 via checked.be.