SKYWINGS FLIGHT TRAINING: 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.
SKYWINGS FLIGHT TRAINING
Largest movements
- Receivables within one year +€833,784
up €833,784 (+248%), from €336,841 to €1.2m
of which Trade receivables: +€468,752
- Tangible fixed assets +€159,415
up €159,415 (+12.0%), from €1.3m to €1.5m
of which Plant, machinery and equipment: +€244,322
- Financial fixed assets +€66,647
up €66,647 (+25.9%), from €256,926 to €323,573
- Stocks and contracts +€54,600
up €54,600 (+208%), from €26,250 to €80,850
- Cash -€40,636
down €40,636 (-48.8%), from €83,311 to €42,674
mainly Receivables within one year (-€833,784) and Investment in fixed assets (net) (-€559,478)
- Accrued charges and deferred income +€416,570
up €416,570 (+65.9%), from €632,120 to €1.0m
- Trade debts +€268,569
up €268,569 (+144%), from €186,487 to €455,056
- Short-term financial debts +€245,715
up €245,715 (+152%), from €161,281 to €406,996
- Reserves +€77,634
up €77,634 (+11.6%), from €671,286 to €748,919
of which Distributable reserves: +€77,634
- Debts after one year +€50,650
up €50,650 (+15.2%), from €334,304 to €384,953
- Staff costs +€153,093
up €153,093 (+46.3%), from €330,582 to €483,675
- Gross operating margin +€83,272
up €83,272 (+8.4%), from €990,999 to €1.1m
- Depreciation +€54,826
up €54,826 (+19.4%), from €282,153 to €336,980
- Taxes -€21,475
down €21,475 (-39.1%), from €54,890 to €33,414
- Financial charges +€19,409
up €19,409 (+21.6%), from €89,819 to €109,229
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 | €2,236,684 | €3,332,020 | +€1.1m | +49.0% |
| Fixed assets | 21/28 | €1,592,971 | €1,815,469 | +€222,499 | +14.0% |
| Intangible fixed assets | 21 | €5,506 | €1,943 | -€3,563 | -64.7% |
| Tangible fixed assets | 22/27 | €1,330,539 | €1,489,953 | +€159,415 | +12.0% |
| Plant, machinery and equipment | 23 | €657,047 | €901,369 | +€244,322 | +37.2% |
| Furniture and vehicles | 24 | €135,523 | €132,301 | -€3,222 | -2.4% |
| Leasing and similar rights | 25 | €355,866 | €253,297 | -€102,569 | -28.8% |
| Other tangible fixed assets | 26 | €182,103 | €202,986 | +€20,883 | +11.5% |
| Financial fixed assets | 28 | €256,926 | €323,573 | +€66,647 | +25.9% |
| Current assets | 29/58 | €643,714 | €1,516,551 | +€872,837 | +136% |
| Stocks and contracts in progress | 3 | €26,250 | €80,850 | +€54,600 | +208% |
| Stocks | 30/36 | €26,250 | €80,850 | +€54,600 | +208% |
| Amounts receivable within one year | 40/41 | €336,841 | €1,170,626 | +€833,784 | +248% |
| Trade receivables | 40 | €84,852 | €553,604 | +€468,752 | +552% |
| Other amounts receivable | 41 | €251,989 | €617,022 | +€365,032 | +145% |
| Current investments | 50/53 | €133,961 | €133,961 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €83,311 | €42,674 | -€40,636 | -48.8% |
| Deferred charges and accrued income | 490/1 | €63,352 | €88,440 | +€25,088 | +39.6% |
| Total equity and liabilities | 10/49 | €2,236,684 | €3,332,020 | +€1.1m | +49.0% |
| Equity | 10/15 | €677,886 | €755,519 | +€77,634 | +11.5% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €671,286 | €748,919 | +€77,634 | +11.6% |
| Non-distributable reserves | 130/1 | €133,961 | €133,961 | = | 0.0% |
| Reserves not available under the articles | 1311 | €133,961 | €133,961 | = | 0.0% |
| Distributable reserves | 133 | €537,325 | €614,959 | +€77,634 | +14.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,558,799 | €2,576,501 | +€1.0m | +65.3% |
| Amounts payable after more than one year | 17 | €334,304 | €384,953 | +€50,650 | +15.2% |
| Financial debts | 170/4 | €334,304 | €384,953 | +€50,650 | +15.2% |
| Amounts payable within one year | 42/48 | €592,375 | €1,142,857 | +€550,482 | +92.9% |
| Current portion of amounts payable after more than one year | 42 | €190,755 | €227,029 | +€36,274 | +19.0% |
| Financial debts | 43 | €161,281 | €406,996 | +€245,715 | +152% |
| Credit institutions | 430/8 | €161,281 | €406,996 | +€245,715 | +152% |
| Trade debts | 44 | €186,487 | €455,056 | +€268,569 | +144% |
| Suppliers | 440/4 | €186,487 | €455,056 | +€268,569 | +144% |
| Taxes, remuneration and social security | 45 | €23,852 | €53,776 | +€29,924 | +125% |
| Remuneration and social security | 454/9 | €23,852 | €53,776 | +€29,924 | +125% |
| Other amounts payable | 47/48 | €30,000 | €0 | -€30,000 | -100% |
| Accrued charges and deferred income | 492/3 | €632,120 | €1,048,690 | +€416,570 | +65.9% |
| Non-recurring operating income | 76A | €53,074 | €0 | -€53,074 | -100% |
| Remuneration, social security and pensions | 62 | €330,582 | €483,675 | +€153,093 | +46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €282,153 | €336,980 | +€54,826 | +19.4% |
| Other operating charges | 640/8 | €8,478 | €8,581 | +€102 | +1.2% |
| Non-recurring operating charges | 66A | - | €26,966 | +€26,966 | |
| Gross operating margin | 9900 | €990,999 | €1,074,271 | +€83,272 | +8.4% |
| Operating profit (loss) | 9901 | €369,785 | €218,070 | -€151,715 | -41.0% |
| Financial income | 75/76B | €31 | €2,206 | +€2,175 | +7,001% |
| Recurring financial income | 75 | €31 | €2,206 | +€2,175 | +7,001% |
| Financial charges | 65/66B | €89,819 | €109,229 | +€19,409 | +21.6% |
| Recurring financial charges | 65 | €89,819 | €109,229 | +€19,409 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €279,997 | €111,048 | -€168,949 | -60.3% |
| Income taxes | 67/77 | €54,890 | €33,414 | -€21,475 | -39.1% |
| Profit (loss) for the period | 9904 | €225,107 | €77,634 | -€147,474 | -65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €225,107 | €77,634 | -€147,474 | -65.5% |
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 16 October 2026 via checked.be.