TBX 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.
TBX AVIATION
Largest movements
- Financial fixed assets -€36,170
down €36,170 (-80.5%), from €44,920 to €8,750
- Receivables after one year +€32,912
up €32,912 (+414%), from €7,957 to €40,869
- Receivables within one year +€10,027
up €10,027 (+49.8%), from €20,117 to €30,145
of which Other amounts receivable: +€11,736
- Cash +€9,045
up €9,045 (+263%), from €3,440 to €12,485
mainly Investment in fixed assets (net) (+€28,124) and Trade debts (+€9,854)
- Tangible fixed assets +€6,071
up €6,071 (+122%), from €4,970 to €11,041
of which Furniture and vehicles: +€5,695
- Trade debts +€9,854
new in 2025: €9,854
- Reserves +€5,373
up €5,373 (+10.0%), from €53,977 to €59,350
- Short-term financial debts +€2,544
up €2,544 (+202%), from €1,259 to €3,802
- Tax, wage and social debts -€1,123
down €1,123 (-8.0%), from €14,014 to €12,890
- Gross operating margin -€31,202
down €31,202 (-68.3%), from €45,693 to €14,491
- Taxes -€8,643
down €8,643 (-61.4%), from €14,075 to €5,431
- Depreciation +€876
up €876 (+79.6%), from €1,099 to €1,975
- Financial charges -€491
down €491 (-32.1%), from €1,529 to €1,037
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 | €87,799 | €104,447 | +€16,647 | +19.0% |
| Fixed assets | 21/28 | €49,890 | €19,791 | -€30,099 | -60.3% |
| Tangible fixed assets | 22/27 | €4,970 | €11,041 | +€6,071 | +122% |
| Plant, machinery and equipment | 23 | €1,800 | €2,177 | +€377 | +20.9% |
| Furniture and vehicles | 24 | €3,170 | €8,865 | +€5,695 | +180% |
| Financial fixed assets | 28 | €44,920 | €8,750 | -€36,170 | -80.5% |
| Current assets | 29/58 | €37,909 | €84,655 | +€46,746 | +123% |
| Amounts receivable after more than one year | 29 | €7,957 | €40,869 | +€32,912 | +414% |
| Other amounts receivable | 291 | €7,957 | €40,869 | +€32,912 | +414% |
| Amounts receivable within one year | 40/41 | €20,117 | €30,145 | +€10,027 | +49.8% |
| Trade receivables | 40 | €19,975 | €18,266 | -€1,709 | -8.6% |
| Other amounts receivable | 41 | €142 | €11,878 | +€11,736 | +8,241% |
| Cash at bank and in hand | 54/58 | €3,440 | €12,485 | +€9,045 | +263% |
| Deferred charges and accrued income | 490/1 | €6,395 | €1,157 | -€5,238 | -81.9% |
| Total equity and liabilities | 10/49 | €87,799 | €104,447 | +€16,647 | +19.0% |
| Equity | 10/15 | €72,527 | €77,900 | +€5,373 | +7.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €53,977 | €59,350 | +€5,373 | +10.0% |
| Distributable reserves | 133 | €53,977 | €59,350 | +€5,373 | +10.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,273 | €26,547 | +€11,274 | +73.8% |
| Amounts payable within one year | 42/48 | €15,273 | €26,547 | +€11,274 | +73.8% |
| Financial debts | 43 | €1,259 | €3,802 | +€2,544 | +202% |
| Credit institutions | 430/8 | €1,259 | €3,802 | +€2,544 | +202% |
| Trade debts | 44 | - | €9,854 | +€9,854 | |
| Suppliers | 440/4 | - | €9,854 | +€9,854 | |
| Taxes, remuneration and social security | 45 | €14,014 | €12,890 | -€1,123 | -8.0% |
| Taxes | 450/3 | €14,014 | €12,890 | -€1,123 | -8.0% |
| Non-recurring operating income | 76A | €7,064 | €0 | -€7,064 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,099 | €1,975 | +€876 | +79.6% |
| Other operating charges | 640/8 | €1,293 | €1,219 | -€74 | -5.7% |
| Non-recurring operating charges | 66A | €843 | €0 | -€843 | -100% |
| Gross operating margin | 9900 | €45,693 | €14,491 | -€31,202 | -68.3% |
| Operating profit (loss) | 9901 | €42,458 | €11,297 | -€31,161 | -73.4% |
| Financial income | 75/76B | €103 | €544 | +€442 | +430% |
| Recurring financial income | 75 | €103 | €544 | +€442 | +430% |
| Financial charges | 65/66B | €1,529 | €1,037 | -€491 | -32.1% |
| Recurring financial charges | 65 | €1,529 | €1,037 | -€491 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €41,032 | €10,804 | -€30,228 | -73.7% |
| Income taxes | 67/77 | €14,075 | €5,431 | -€8,643 | -61.4% |
| Profit (loss) for the period | 9904 | €26,957 | €5,373 | -€21,584 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,957 | €5,373 | -€21,584 | -80.1% |
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 15 October 2026 via checked.be.