A&E: what changed
Two fiscal 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.
A&E
Largest movements
- Receivables after one year +€170,438
up €170,438 (+67.8%), from €251,400 to €421,838
- Receivables within one year +€114,352
up €114,352 (+3.1%), from €3.7m to €3.9m
of which Trade receivables: +€137,231
- Deferred charges and accrued income -€52,019
down €52,019 (-31.9%), from €163,087 to €111,068
- Other debts +€288,333
up €288,333 (+67.9%), from €424,690 to €713,024
- Reserves -€120,038
down €120,038 (-3.2%), from €3.7m to €3.6m
of which Distributable reserves: -€120,038
- Tax, wage and social debts +€80,103
up €80,103 (+90.4%), from €88,560 to €168,663
of which Taxes: +€80,103
- Gross operating margin -€205,348
down €205,348 (-20.8%), from €986,977 to €781,629
- Financial income +€48,305
up €48,305 (+37.8%), from €127,808 to €176,113
- Taxes -€48,289
down €48,289 (-13.7%), from €351,991 to €303,702
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.
Cash bridge derived
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 | €4,322,061 | €4,557,644 | +€235,583 | +5.5% |
| Fixed assets | 21/28 | €34,998 | €14,497 | -€20,501 | -58.6% |
| Tangible fixed assets | 22/27 | €29,422 | €8,921 | -€20,501 | -69.7% |
| Furniture and vehicles | 24 | €29,422 | €8,921 | -€20,501 | -69.7% |
| Financial fixed assets | 28 | €5,576 | €5,576 | = | 0.0% |
| Current assets | 29/58 | €4,287,063 | €4,543,147 | +€256,083 | +6.0% |
| Amounts receivable after more than one year | 29 | €251,400 | €421,838 | +€170,438 | +67.8% |
| Other amounts receivable | 291 | €251,400 | €421,838 | +€170,438 | +67.8% |
| Amounts receivable within one year | 40/41 | €3,737,483 | €3,851,835 | +€114,352 | +3.1% |
| Trade receivables | 40 | €42,015 | €179,247 | +€137,231 | +326.6% |
| Other amounts receivable | 41 | €3,695,467 | €3,672,588 | -€22,880 | -0.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €135,093 | €158,407 | +€23,313 | +17.3% |
| Deferred charges and accrued income | 490/1 | €163,087 | €111,068 | -€52,019 | -31.9% |
| Total equity and liabilities | 10/49 | €4,322,061 | €4,557,644 | +€235,583 | +5.5% |
| Equity | 10/15 | €3,763,994 | €3,643,956 | -€120,038 | -3.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,700,053 | €3,580,015 | -€120,038 | -3.2% |
| Non-distributable reserves | 130/1 | €196,942 | €196,942 | = | 0.0% |
| Reserves not available under the articles | 1311 | €196,942 | €196,942 | = | 0.0% |
| Distributable reserves | 133 | €3,503,111 | €3,383,073 | -€120,038 | -3.4% |
| Profit (loss) carried forward | 14 | €43,941 | €43,941 | = | 0.0% |
| Amounts payable | 17/49 | €558,067 | €913,688 | +€355,621 | +63.7% |
| Amounts payable within one year | 42/48 | €558,067 | €913,688 | +€355,621 | +63.7% |
| Trade debts | 44 | €44,816 | €32,001 | -€12,815 | -28.6% |
| Suppliers | 440/4 | €44,816 | €32,001 | -€12,815 | -28.6% |
| Taxes, remuneration and social security | 45 | €88,560 | €168,663 | +€80,103 | +90.4% |
| Taxes | 450/3 | €88,560 | €168,663 | +€80,103 | +90.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €424,690 | €713,024 | +€288,333 | +67.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,638 | €21,906 | +€268 | +1.2% |
| Other operating charges | 640/8 | €1,514 | €1,316 | -€197 | -13.0% |
| Gross operating margin | 9900 | €986,977 | €781,629 | -€205,348 | -20.8% |
| Operating profit (loss) | 9901 | €963,825 | €758,407 | -€205,418 | -21.3% |
| Financial income | 75/76B | €127,808 | €176,113 | +€48,305 | +37.8% |
| Recurring financial income | 75 | €127,808 | €176,113 | +€48,305 | +37.8% |
| Financial charges | 65/66B | €3,219 | €305 | -€2,914 | -90.5% |
| Recurring financial charges | 65 | €3,219 | €305 | -€2,914 | -90.5% |
| Profit (loss) for the period before taxes | 9903 | €1,088,414 | €934,215 | -€154,199 | -14.2% |
| Income taxes | 67/77 | €351,991 | €303,702 | -€48,289 | -13.7% |
| Profit (loss) for the period | 9904 | €736,423 | €630,513 | -€105,910 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €736,423 | €630,513 | -€105,910 | -14.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.