AIRCASELL: 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
AIRCASELL
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€387,138
2024 · -€132,122+€519,260
Equity
€5.5m
2024 · €5.1m+€387,138
Cash
€78,257
2024 · €221,365-€143,108
Balance sheet total
€10.4m
2024 · €10.8m-€458,496
Largest movements
Assets
- Receivables after one year -€219,303
down €219,303 (-11.4%), from €1.9m to €1.7m
- Tangible fixed assets -€219,052
down €219,052 (-9.7%), from €2.3m to €2.0m
of which Land and buildings: -€110,509
- Intangible fixed assets -€198,711
down €198,711 (-33.3%), from €596,132 to €397,421
- Financial fixed assets +€150,000
up €150,000 (+3.0%), from €5.1m to €5.2m
- Cash -€143,108
down €143,108 (-64.6%), from €221,365 to €78,257
mainly Debts after one year (-€539,640) and Current portion of long-term debt (-€298,625)
Equity and liabilities
- Debts after one year -€539,640
down €539,640 (-21.2%), from €2.5m to €2.0m
- Profit (loss) carried forward +€411,002
up €411,002 (+42.3%), from -€971,480 to -€560,477
- Current portion of long-term debt -€298,625
down €298,625 (-77.9%), from €383,265 to €84,640
Income statement
- Turnover +€455,526
up €455,526 (+77.7%), from €586,234 to €1.0m
- Goods and materials +€426,061
new in 2025: €426,061
of which Purchases: +€469,456
- Financial income +€162,803
up €162,803 (+37.2%), from €438,166 to €600,969
- Financial charges -€149,066
down €149,066 (-57.9%), from €257,659 to €108,592
- Taxes -€57,121
down €57,121 (-99.5%), from €57,398 to €277
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
-€132,122
Turnover
+€455,526
Other operating income
-€4,200
Goods and materials
-€426,061
Services and other goods
+€24,986
Depreciation
+€36,706
Other operating charges
-€1,456
Other operating items
+€74,376
Financial income
+€162,803
Financial charges
+€149,066
Taxes
+€57,121
Deferred taxes and other
-€9,607
Result 2025
€387,138
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
+€877,444
Investment
-€182,287
Financing
-€838,265
Cash 2024
€221,365
From operations (derived)
+€877,444
Net result for the year
+€387,138
Depreciation
+€350,050
Receivables after one year
+€219,303
Stocks and contracts
-€43,394
Receivables within one year
-€26,644
Deferred charges and accrued income
-€1,639
Provisions
-€10,618
Trade debts
-€73,549
Tax, wage and social debts
+€276
Other debts
+€82,189
Accrued charges and deferred income
-€5,667
Investment (derived)
-€182,287
Investment in fixed assets (net)
-€82,287
Current investments
-€100,000
Financing
-€838,265
Debts after one year
-€539,640
Current portion of long-term debt
-€298,625
Cash 2025
€78,257
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,844,315 | €10,385,819 | -€458,496 | -4.2% |
| Fixed assets | 21/28 | €7,905,471 | €7,637,709 | -€267,762 | -3.4% |
| Intangible fixed assets | 21 | €596,132 | €397,421 | -€198,711 | -33.3% |
| Tangible fixed assets | 22/27 | €2,251,878 | €2,032,827 | -€219,052 | -9.7% |
| Land and buildings | 22 | €2,123,020 | €2,012,511 | -€110,509 | -5.2% |
| Plant, machinery and equipment | 23 | €26,415 | €17,813 | -€8,602 | -32.6% |
| Furniture and vehicles | 24 | €102,443 | €2,502 | -€99,941 | -97.6% |
| Financial fixed assets | 28 | €5,057,461 | €5,207,461 | +€150,000 | +3.0% |
| Affiliated companies | 280/1 | €5,057,461 | €5,207,461 | +€150,000 | +3.0% |
| Participating interests | 280 | €5,057,461 | €5,207,461 | +€150,000 | +3.0% |
| Current assets | 29/58 | €2,938,844 | €2,748,110 | -€190,733 | -6.5% |
| Amounts receivable after more than one year | 29 | €1,919,303 | €1,700,000 | -€219,303 | -11.4% |
| Other amounts receivable | 291 | €1,919,303 | €1,700,000 | -€219,303 | -11.4% |
| Stocks and contracts in progress | 3 | €0 | €43,394 | +€43,394 | |
| Stocks | 30/36 | - | €43,394 | +€43,394 | |
| Goods purchased for resale | 34 | - | €43,394 | +€43,394 | |
| Amounts receivable within one year | 40/41 | €798,175 | €824,820 | +€26,644 | +3.3% |
| Trade receivables | 40 | €283,660 | €46,048 | -€237,612 | -83.8% |
| Other amounts receivable | 41 | €514,515 | €778,771 | +€264,257 | +51.4% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Other investments | 51/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €221,365 | €78,257 | -€143,108 | -64.6% |
| Deferred charges and accrued income | 490/1 | €0 | €1,639 | +€1,639 | |
| Total equity and liabilities | 10/49 | €10,844,315 | €10,385,819 | -€458,496 | -4.2% |
| Equity | 10/15 | €5,146,619 | €5,533,757 | +€387,138 | +7.5% |
| Contributions | 10/11 | €4,208,600 | €4,208,600 | = | 0.0% |
| Reserves | 13 | €1,909,498 | €1,885,634 | -€23,864 | -1.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,885,667 | €1,861,803 | -€23,864 | -1.3% |
| Distributable reserves | 133 | €23,831 | €23,831 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€971,480 | -€560,477 | +€411,002 | +42.3% |
| Provisions and deferred taxes | 16 | €638,651 | €628,033 | -€10,618 | -1.7% |
| Deferred taxes | 168 | €638,651 | €628,033 | -€10,618 | -1.7% |
| Amounts payable | 17/49 | €5,059,045 | €4,224,029 | -€835,016 | -16.5% |
| Amounts payable after more than one year | 17 | €2,547,583 | €2,007,943 | -€539,640 | -21.2% |
| Financial debts | 170/4 | €2,547,583 | €2,007,943 | -€539,640 | -21.2% |
| Credit institutions | 173 | €582,583 | €497,943 | -€84,640 | -14.5% |
| Other loans | 174 | €1,965,000 | €1,510,000 | -€455,000 | -23.2% |
| Amounts payable within one year | 42/48 | €2,488,795 | €2,199,086 | -€289,710 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €383,265 | €84,640 | -€298,625 | -77.9% |
| Trade debts | 44 | €202,220 | €128,671 | -€73,549 | -36.4% |
| Suppliers | 440/4 | €202,220 | €128,671 | -€73,549 | -36.4% |
| Taxes, remuneration and social security | 45 | €1,666 | €1,942 | +€276 | +16.6% |
| Taxes | 450/3 | €1,666 | €1,942 | +€276 | +16.6% |
| Other amounts payable | 47/48 | €1,901,644 | €1,983,833 | +€82,189 | +4.3% |
| Accrued charges and deferred income | 492/3 | €22,667 | €17,000 | -€5,667 | -25.0% |
| Operating income | 70/76A | €599,345 | €1,069,791 | +€470,446 | +78.5% |
| Turnover | 70 | €586,234 | €1,041,760 | +€455,526 | +77.7% |
| Other operating income | 74 | €13,111 | €8,911 | -€4,200 | -32.0% |
| Non-recurring operating income | 76A | - | €19,120 | +€19,120 | |
| Operating charges | 60/66A | €874,801 | €1,185,370 | +€310,569 | +35.5% |
| Goods for resale, raw materials and consumables | 60 | - | €426,061 | +€426,061 | |
| Purchases | 600/8 | - | €469,456 | +€469,456 | |
| Change in stocks: decrease (increase) | 609 | - | -€43,394 | -€43,394 | |
| Services and other goods | 61 | €395,799 | €370,813 | -€24,986 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €386,755 | €350,050 | -€36,706 | -9.5% |
| Other operating charges | 640/8 | €15,105 | €16,561 | +€1,456 | +9.6% |
| Non-recurring operating charges | 66A | €77,142 | €21,886 | -€55,256 | -71.6% |
| Operating profit (loss) | 9901 | -€275,456 | -€115,579 | +€159,877 | +58.0% |
| Financial income | 75/76B | €438,166 | €600,969 | +€162,803 | +37.2% |
| Recurring financial income | 75 | €438,166 | €600,969 | +€162,803 | +37.2% |
| Income from financial fixed assets | 750 | €329,976 | €572,085 | +€242,108 | +73.4% |
| Income from current assets | 751 | €105,230 | €352 | -€104,878 | -99.7% |
| Other financial income | 752/9 | €2,960 | €28,532 | +€25,573 | +864% |
| Financial charges | 65/66B | €257,659 | €108,592 | -€149,066 | -57.9% |
| Recurring financial charges | 65 | €257,659 | €108,592 | -€149,066 | -57.9% |
| Debt charges | 650 | €257,386 | €107,616 | -€149,770 | -58.2% |
| Other financial charges | 652/9 | €272 | €976 | +€704 | +258% |
| Profit (loss) for the period before taxes | 9903 | -€94,949 | €376,798 | +€471,746 | |
| Transfer from deferred taxes | 780 | €20,225 | €10,618 | -€9,607 | -47.5% |
| Income taxes | 67/77 | €57,398 | €277 | -€57,121 | -99.5% |
| Taxes | 670/3 | €57,398 | €277 | -€57,121 | -99.5% |
| Profit (loss) for the period | 9904 | -€132,122 | €387,138 | +€519,260 | |
| Transfer from tax-exempt reserves | 789 | €56,555 | €23,864 | -€32,690 | -57.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,568 | €411,002 | +€486,570 |
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 23 October 2026 via checked.be.