PG-Aviation: 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.
PG-Aviation
Largest movements
- Tangible fixed assets +€538,716
up €538,716 (+2,521%), from €21,370 to €560,086
of which Furniture and vehicles: +€550,820
- Cash +€25,673
up €25,673 (+35.2%), from €72,891 to €98,564
mainly Contributions, distributions and other (+€600,000) and Depreciation (+€27,701)
- Receivables within one year -€7,269
down €7,269 (-91.1%), from €7,975 to €706
of which Other amounts receivable: -€7,185
- Contributions +€600,000
up €600,000 (+3,000%), from €20,000 to €620,000
- Profit (loss) carried forward -€42,936
down €42,936, from €0 to -€42,936
- Gross operating margin -€55,265
down €55,265, from €42,856 to -€12,409
- Depreciation +€14,952
up €14,952 (+117%), from €12,749 to €27,701
- Taxes -€8,546
down €8,546 (-98.3%), from €8,691 to €146
- Other operating charges -€566
down €566 (-43.4%), from €1,303 to €738
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 | €124,198 | €676,674 | +€552,476 | +445% |
| Fixed assets | 21/28 | €21,370 | €560,086 | +€538,716 | +2,521% |
| Tangible fixed assets | 22/27 | €21,370 | €560,086 | +€538,716 | +2,521% |
| Plant, machinery and equipment | 23 | €4,788 | €2,710 | -€2,079 | -43.4% |
| Furniture and vehicles | 24 | €1,888 | €552,708 | +€550,820 | +29,178% |
| Leasing and similar rights | 25 | €14,694 | €4,669 | -€10,025 | -68.2% |
| Current assets | 29/58 | €102,828 | €116,587 | +€13,760 | +13.4% |
| Amounts receivable after more than one year | 29 | €19,000 | €14,000 | -€5,000 | -26.3% |
| Other amounts receivable | 291 | €19,000 | €14,000 | -€5,000 | -26.3% |
| Amounts receivable within one year | 40/41 | €7,975 | €706 | -€7,269 | -91.1% |
| Trade receivables | 40 | €250 | €167 | -€84 | -33.4% |
| Other amounts receivable | 41 | €7,725 | €539 | -€7,185 | -93.0% |
| Cash at bank and in hand | 54/58 | €72,891 | €98,564 | +€25,673 | +35.2% |
| Deferred charges and accrued income | 490/1 | €2,961 | €3,317 | +€356 | +12.0% |
| Total equity and liabilities | 10/49 | €124,198 | €676,674 | +€552,476 | +445% |
| Equity | 10/15 | €113,148 | €670,212 | +€557,064 | +492% |
| Contributions | 10/11 | €20,000 | €620,000 | +€600,000 | +3,000% |
| Reserves | 13 | €93,148 | €93,148 | = | 0.0% |
| Distributable reserves | 133 | €93,148 | €93,148 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€42,936 | -€42,936 | |
| Amounts payable | 17/49 | €11,050 | €6,462 | -€4,588 | -41.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €11,050 | €6,462 | -€4,588 | -41.5% |
| Current portion of amounts payable after more than one year | 42 | €3,598 | €0 | -€3,598 | -100% |
| Trade debts | 44 | €191 | €1,045 | +€854 | +446% |
| Suppliers | 440/4 | €191 | €1,045 | +€854 | +446% |
| Taxes, remuneration and social security | 45 | €278 | €710 | +€432 | +156% |
| Taxes | 450/3 | €278 | €710 | +€432 | +156% |
| Other amounts payable | 47/48 | €6,983 | €4,707 | -€2,275 | -32.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,151 | €1,371 | +€220 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,749 | €27,701 | +€14,952 | +117% |
| Other operating charges | 640/8 | €1,303 | €738 | -€566 | -43.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €42,856 | -€12,409 | -€55,265 | |
| Operating profit (loss) | 9901 | €27,653 | -€42,218 | -€69,872 | |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €696 | €594 | -€102 | -14.6% |
| Recurring financial charges | 65 | €696 | €594 | -€102 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €26,958 | -€42,790 | -€69,748 | |
| Income taxes | 67/77 | €8,691 | €146 | -€8,546 | -98.3% |
| Profit (loss) for the period | 9904 | €18,266 | -€42,936 | -€61,202 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,266 | -€42,936 | -€61,202 |
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 18 October 2026 via checked.be.