STEP IN BALLOONS: 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.
What changed
STEP IN BALLOONS
NACE 51.100, Air transport
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€13,164
2024 · €21,777-€8,613
Equity
€286,607
2024 · €273,443+€13,164
Cash
€175,025
2024 · €164,446+€10,578
Balance sheet total
€1.0m
2024 · €1.0m+€3,531
Largest movements
Assets
- Tangible fixed assets -€19,495
down €19,495 (-2.3%), from €830,240 to €810,744
of which Land and buildings: -€42,148
- Cash +€10,578
up €10,578 (+6.4%), from €164,446 to €175,025
mainly Depreciation (+€153,630) and Debts after one year (+€21,729)
Equity and liabilities
- Other debts -€26,270
down €26,270 (-8.0%), from €326,393 to €300,122
- Debts after one year +€21,729
up €21,729 (+7.6%), from €285,720 to €307,449
- Profit (loss) carried forward +€13,164
up €13,164 (+8.9%), from €148,025 to €161,189
Income statement
- Depreciation +€15,416
up €15,416 (+11.2%), from €138,214 to €153,630
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.
Result 2024
€21,777
Gross operating margin
+€789
Depreciation
-€15,416
Other operating charges
+€141
Other operating items
+€3,882
Financial income
-€5
Financial charges
+€278
Taxes
+€1,718
Result 2025
€13,164
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€111,629
Investment
-€134,134
Financing
+€33,083
Cash 2024
€164,446
From operations (derived)
+€111,629
Net result for the year
+€13,164
Depreciation
+€153,630
Receivables within one year
-€6,400
Deferred charges and accrued income
-€6,048
Trade debts
-€10,004
Tax, wage and social debts
-€5,798
Other debts
-€26,270
Accrued charges and deferred income
-€644
Investment (derived)
-€134,134
Investment in fixed assets (net)
-€134,134
Financing
+€33,083
Debts after one year
+€21,729
Current portion of long-term debt
+€8,271
Short-term financial debts
+€3,084
Cash 2025
€175,025
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,005,665 | €1,009,196 | +€3,531 | +0.4% |
| Fixed assets | 21/28 | €830,240 | €810,744 | -€19,495 | -2.3% |
| Tangible fixed assets | 22/27 | €830,240 | €810,744 | -€19,495 | -2.3% |
| Land and buildings | 22 | €538,557 | €496,408 | -€42,148 | -7.8% |
| Plant, machinery and equipment | 23 | €98,836 | €111,719 | +€12,883 | +13.0% |
| Furniture and vehicles | 24 | €192,847 | €202,617 | +€9,770 | +5.1% |
| Current assets | 29/58 | €175,425 | €198,451 | +€23,026 | +13.1% |
| Amounts receivable within one year | 40/41 | €10,956 | €17,356 | +€6,400 | +58.4% |
| Trade receivables | 40 | €6,182 | €7,508 | +€1,326 | +21.5% |
| Other amounts receivable | 41 | €4,774 | €9,848 | +€5,074 | +106% |
| Cash at bank and in hand | 54/58 | €164,446 | €175,025 | +€10,578 | +6.4% |
| Deferred charges and accrued income | 490/1 | €23 | €6,071 | +€6,048 | +26,751% |
| Total equity and liabilities | 10/49 | €1,005,665 | €1,009,196 | +€3,531 | +0.4% |
| Equity | 10/15 | €273,443 | €286,607 | +€13,164 | +4.8% |
| Contributions | 10/11 | €125,418 | €125,418 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,025 | €161,189 | +€13,164 | +8.9% |
| Amounts payable | 17/49 | €732,222 | €722,589 | -€9,633 | -1.3% |
| Amounts payable after more than one year | 17 | €285,720 | €307,449 | +€21,729 | +7.6% |
| Financial debts | 170/4 | €285,720 | €307,449 | +€21,729 | +7.6% |
| Amounts payable within one year | 42/48 | €404,089 | €373,371 | -€30,718 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €34,605 | €42,876 | +€8,271 | +23.9% |
| Financial debts | 43 | - | €3,084 | +€3,084 | |
| Credit institutions | 430/8 | - | €3,084 | +€3,084 | |
| Trade debts | 44 | €37,293 | €27,289 | -€10,004 | -26.8% |
| Suppliers | 440/4 | €37,293 | €27,289 | -€10,004 | -26.8% |
| Taxes, remuneration and social security | 45 | €5,798 | €0 | -€5,798 | -100% |
| Taxes | 450/3 | €5,798 | €0 | -€5,798 | -100% |
| Other amounts payable | 47/48 | €326,393 | €300,122 | -€26,270 | -8.0% |
| Accrued charges and deferred income | 492/3 | €42,413 | €41,769 | -€644 | -1.5% |
| Non-recurring operating income | 76A | €12 | €2,966 | +€2,954 | +24,614% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,214 | €153,630 | +€15,416 | +11.2% |
| Other operating charges | 640/8 | €14,971 | €14,831 | -€141 | -0.9% |
| Non-recurring operating charges | 66A | €3,882 | - | -€3,882 | |
| Gross operating margin | 9900 | €189,487 | €190,276 | +€789 | +0.4% |
| Operating profit (loss) | 9901 | €32,419 | €21,816 | -€10,603 | -32.7% |
| Financial income | 75/76B | €8 | €2 | -€5 | -69.8% |
| Recurring financial income | 75 | €8 | €2 | -€5 | -69.8% |
| Financial charges | 65/66B | €5,424 | €5,146 | -€278 | -5.1% |
| Recurring financial charges | 65 | €5,424 | €5,146 | -€278 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €27,003 | €16,672 | -€10,331 | -38.3% |
| Income taxes | 67/77 | €5,226 | €3,508 | -€1,718 | -32.9% |
| Profit (loss) for the period | 9904 | €21,777 | €13,164 | -€8,613 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,777 | €13,164 | -€8,613 | -39.6% |
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 25 October 2026 via checked.be.