S.E. Aeropa: 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.
S.E. Aeropa
Largest movements
- Receivables within one year +€205,003
up €205,003 (+323.9%), from €63,295 to €268,297
of which Other amounts receivable: +€206,087
- Receivables after one year -€180,000
no longer reported in 2025 (was €180,000)
- Tangible fixed assets -€9,335
down €9,335 (-46.9%), from €19,910 to €10,575
of which Other tangible fixed assets: -€7,949
- Tax, wage and social debts -€42,825
down €42,825 (-89.4%), from €47,915 to €5,090
- Profit (loss) carried forward +€34,956
no longer reported in 2025 (was -€34,956)
- Current portion of long-term debt +€24,992
up €24,992 (+509.4%), from €4,906 to €29,898
- Debts after one year +€15,268
up €15,268 (+293.0%), from €5,211 to €20,478
- Reserves -€11,998
down €11,998 (-5.4%), from €221,286 to €209,288
of which Distributable reserves: -€11,998
- Gross operating margin +€53,930
up €53,930, from -€29,658 to €24,273
- Taxes +€5,091
up €5,091 (+4012.2%), from €127 to €5,218
- Staff costs -€4,152
no longer reported in 2025 (was €4,152)
- Financial income +€3,311
up €3,311 (+37.7%), from €8,778 to €12,089
- Financial charges +€774
up €774 (+19.4%), from €3,992 to €4,766
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 | €263,205 | €281,839 | +€18,634 | +7.1% |
| Fixed assets | 21/28 | €19,910 | €11,075 | -€8,835 | -44.4% |
| Tangible fixed assets | 22/27 | €19,910 | €10,575 | -€9,335 | -46.9% |
| Furniture and vehicles | 24 | €3,266 | €2,880 | -€386 | -11.8% |
| Leasing and similar rights | 25 | €4,295 | €3,295 | -€1,001 | -23.3% |
| Other tangible fixed assets | 26 | €12,349 | €4,400 | -€7,949 | -64.4% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €243,295 | €270,764 | +€27,470 | +11.3% |
| Amounts receivable after more than one year | 29 | €180,000 | - | -€180,000 | |
| Other amounts receivable | 291 | €180,000 | - | -€180,000 | |
| Amounts receivable within one year | 40/41 | €63,295 | €268,297 | +€205,003 | +323.9% |
| Trade receivables | 40 | €3,580 | €2,496 | -€1,084 | -30.3% |
| Other amounts receivable | 41 | €59,715 | €265,802 | +€206,087 | +345.1% |
| Cash at bank and in hand | 54/58 | €0 | €975 | +€975 | |
| Deferred charges and accrued income | 490/1 | - | €1,492 | +€1,492 | |
| Total equity and liabilities | 10/49 | €263,205 | €281,839 | +€18,634 | +7.1% |
| Equity | 10/15 | €192,580 | €215,538 | +€22,958 | +11.9% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €221,286 | €209,288 | -€11,998 | -5.4% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €219,411 | €207,413 | -€11,998 | -5.5% |
| Profit (loss) carried forward | 14 | -€34,956 | - | +€34,956 | |
| Amounts payable | 17/49 | €70,625 | €66,301 | -€4,324 | -6.1% |
| Amounts payable after more than one year | 17 | €5,211 | €20,478 | +€15,268 | +293.0% |
| Financial debts | 170/4 | €5,211 | €20,478 | +€15,268 | +293.0% |
| Amounts payable within one year | 42/48 | €65,414 | €45,823 | -€19,591 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €4,906 | €29,898 | +€24,992 | +509.4% |
| Trade debts | 44 | €3,657 | €6,419 | +€2,762 | +75.5% |
| Suppliers | 440/4 | €3,657 | €6,419 | +€2,762 | +75.5% |
| Advances received on contracts in progress | 46 | - | €4,417 | +€4,417 | |
| Taxes, remuneration and social security | 45 | €47,915 | €5,090 | -€42,825 | -89.4% |
| Taxes | 450/3 | €47,915 | €5,090 | -€42,825 | -89.4% |
| Other amounts payable | 47/48 | €8,936 | - | -€8,936 | |
| Non-recurring operating income | 76A | - | €1,052 | +€1,052 | |
| Remuneration, social security and pensions | 62 | €4,152 | - | -€4,152 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,146 | €2,439 | +€293 | +13.6% |
| Other operating charges | 640/8 | €1,473 | €981 | -€492 | -33.4% |
| Non-recurring operating charges | 66A | €2,186 | - | -€2,186 | |
| Gross operating margin | 9900 | -€29,658 | €24,273 | +€53,930 | |
| Operating profit (loss) | 9901 | -€39,615 | €20,853 | +€60,468 | |
| Financial income | 75/76B | €8,778 | €12,089 | +€3,311 | +37.7% |
| Recurring financial income | 75 | €8,778 | €12,089 | +€3,311 | +37.7% |
| Financial charges | 65/66B | €3,992 | €4,766 | +€774 | +19.4% |
| Recurring financial charges | 65 | €3,992 | €4,766 | +€774 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | -€34,829 | €28,176 | +€63,005 | |
| Income taxes | 67/77 | €127 | €5,218 | +€5,091 | +4012.2% |
| Profit (loss) for the period | 9904 | -€34,956 | €22,958 | +€57,913 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,956 | €22,958 | +€57,913 |
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 11 October 2026 via checked.be.