SKY ZONES: 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.
SKY ZONES
Largest movements
- Cash -€275,574
down €275,574 (-99.0%), from €278,288 to €2,714
mainly Investment in fixed assets (net) (-€264,183) and Debts after one year (-€241,191)
- Receivables within one year +€37,459
up €37,459 (+227%), from €16,508 to €53,967
of which Other amounts receivable: +€36,856
- Tangible fixed assets -€33,471
down €33,471 (-2.0%), from €1.6m to €1.6m
of which Plant, machinery and equipment: -€122,342
- Intangible fixed assets -€28,489
down €28,489 (-71.7%), from €39,707 to €11,218
- Debts after one year -€241,191
down €241,191 (-39.9%), from €604,584 to €363,393
- Short-term financial debts -€156,000
no longer reported in 2025 (was €156,000)
- Current portion of long-term debt +€101,750
up €101,750 (+288%), from €35,381 to €137,131
- Tax, wage and social debts +€66,248
up €66,248 (+59.5%), from €111,282 to €177,530
of which Taxes: +€39,380
- Other debts -€55,170
down €55,170 (-21.8%), from €253,372 to €198,202
- Gross operating margin +€463,168
up €463,168 (+94.9%), from €488,218 to €951,387
- Staff costs +€209,721
up €209,721 (+58.6%), from €357,824 to €567,545
- Depreciation +€49,871
up €49,871 (+18.1%), from €276,271 to €326,142
- Other operating charges +€29,572
up €29,572 (+291%), from €10,168 to €39,740
- Financial charges -€14,823
down €14,823 (-14.9%), from €99,489 to €84,665
of which Financial charges: -€8,336
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 | €1,992,276 | €1,692,202 | -€300,074 | -15.1% |
| Fixed assets | 21/28 | €1,688,123 | €1,626,163 | -€61,959 | -3.7% |
| Intangible fixed assets | 21 | €39,707 | €11,218 | -€28,489 | -71.7% |
| Tangible fixed assets | 22/27 | €1,647,966 | €1,614,495 | -€33,471 | -2.0% |
| Land and buildings | 22 | €777,475 | €887,485 | +€110,010 | +14.1% |
| Plant, machinery and equipment | 23 | €749,723 | €627,381 | -€122,342 | -16.3% |
| Furniture and vehicles | 24 | €120,768 | €99,630 | -€21,138 | -17.5% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €304,153 | €66,039 | -€238,115 | -78.3% |
| Stocks and contracts in progress | 3 | €9,358 | €9,358 | = | 0.0% |
| Stocks | 30/36 | €9,358 | €9,358 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,508 | €53,967 | +€37,459 | +227% |
| Trade receivables | 40 | €16,404 | €17,007 | +€604 | +3.7% |
| Other amounts receivable | 41 | €104 | €36,960 | +€36,856 | +35,343% |
| Cash at bank and in hand | 54/58 | €278,288 | €2,714 | -€275,574 | -99.0% |
| Total equity and liabilities | 10/49 | €1,992,276 | €1,692,202 | -€300,074 | -15.1% |
| Equity | 10/15 | €138,792 | €72,081 | -€66,711 | -48.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€400,970 | -€416,075 | -€15,105 | -3.8% |
| Investment grants | 15 | €439,763 | €388,156 | -€51,606 | -11.7% |
| Amounts payable | 17/49 | €1,853,484 | €1,620,121 | -€233,363 | -12.6% |
| Amounts payable after more than one year | 17 | €604,584 | €363,393 | -€241,191 | -39.9% |
| Financial debts | 170/4 | €604,584 | €363,393 | -€241,191 | -39.9% |
| Amounts payable within one year | 42/48 | €1,248,900 | €1,256,728 | +€7,828 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €35,381 | €137,131 | +€101,750 | +288% |
| Financial debts | 43 | €156,000 | - | -€156,000 | |
| Credit institutions | 430/8 | €156,000 | - | -€156,000 | |
| Trade debts | 44 | €692,865 | €743,865 | +€51,000 | +7.4% |
| Suppliers | 440/4 | €692,865 | €743,865 | +€51,000 | +7.4% |
| Taxes, remuneration and social security | 45 | €111,282 | €177,530 | +€66,248 | +59.5% |
| Taxes | 450/3 | €39,204 | €78,583 | +€39,380 | +100% |
| Remuneration and social security | 454/9 | €72,079 | €98,947 | +€26,869 | +37.3% |
| Other amounts payable | 47/48 | €253,372 | €198,202 | -€55,170 | -21.8% |
| Remuneration, social security and pensions | 62 | €357,824 | €567,545 | +€209,721 | +58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €276,271 | €326,142 | +€49,871 | +18.1% |
| Other operating charges | 640/8 | €10,168 | €39,740 | +€29,572 | +291% |
| Gross operating margin | 9900 | €488,218 | €951,387 | +€463,168 | +94.9% |
| Operating profit (loss) | 9901 | -€156,044 | €17,960 | +€174,005 | |
| Financial income | 75/76B | €51,846 | €51,831 | -€15 | 0.0% |
| Recurring financial income | 75 | €51,846 | €51,607 | -€239 | -0.5% |
| Non-recurring financial income | 76B | - | €224 | +€224 | |
| Financial charges | 65/66B | €99,489 | €84,665 | -€14,823 | -14.9% |
| Recurring financial charges | 65 | €37,064 | €28,728 | -€8,336 | -22.5% |
| Non-recurring financial charges | 66B | €62,425 | €55,937 | -€6,488 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€203,687 | -€14,874 | +€188,813 | +92.7% |
| Income taxes | 67/77 | - | €231 | +€231 | |
| Profit (loss) for the period | 9904 | -€203,687 | -€15,105 | +€188,582 | +92.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€203,687 | -€15,105 | +€188,582 | +92.6% |
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 26 October 2026 via checked.be.