AA Asset Management: 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.
AA Asset Management
Largest movements
- Receivables within one year -€60,638
down €60,638 (-16.6%), from €365,844 to €305,206
of which Trade receivables: -€94,182
- Cash +€52,667
up €52,667 (+22,542%), from €234 to €52,900
mainly Trade debts (+€102,028) and Receivables within one year (+€60,638)
- Tangible fixed assets -€23,166
down €23,166 (-11.3%), from €204,850 to €181,684
of which Land and buildings: -€17,884
- Receivables after one year +€16,000
new in 2024: €16,000
- Trade debts +€102,028
up €102,028 (+71.3%), from €143,049 to €245,077
- Advances received -€98,055
no longer reported in 2024 (was €98,055)
- Other debts -€8,993
down €8,993 (-95.6%), from €9,406 to €413
- Short-term financial debts -€6,828
down €6,828 (-24.5%), from €27,834 to €21,006
- Tax, wage and social debts +€6,220
up €6,220 (+89.2%), from €6,975 to €13,196
of which Remuneration and social security: +€10,847
- Gross operating margin +€141,722
up €141,722 (+440%), from €32,200 to €173,922
- Staff costs +€109,955
up €109,955 (+150,170%), from €73 to €110,028
- Write-downs +€50,738
no longer reported in 2024 (was -€50,738)
- Other operating charges -€37,632
down €37,632 (-76.8%), from €49,003 to €11,371
- Financial charges +€2,676
up €2,676 (+72.2%), from €3,707 to €6,382
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €575,059 | €565,118 | -€9,942 | -1.7% |
| Fixed assets | 21/28 | €205,783 | €182,917 | -€22,866 | -11.1% |
| Tangible fixed assets | 22/27 | €204,850 | €181,684 | -€23,166 | -11.3% |
| Land and buildings | 22 | €188,094 | €170,209 | -€17,884 | -9.5% |
| Plant, machinery and equipment | 23 | €5,787 | €6,057 | +€270 | +4.7% |
| Furniture and vehicles | 24 | €10,969 | €5,417 | -€5,552 | -50.6% |
| Financial fixed assets | 28 | €933 | €1,233 | +€300 | +32.2% |
| Current assets | 29/58 | €369,276 | €382,201 | +€12,925 | +3.5% |
| Amounts receivable after more than one year | 29 | - | €16,000 | +€16,000 | |
| Other amounts receivable | 291 | - | €16,000 | +€16,000 | |
| Amounts receivable within one year | 40/41 | €365,844 | €305,206 | -€60,638 | -16.6% |
| Trade receivables | 40 | €306,847 | €212,665 | -€94,182 | -30.7% |
| Other amounts receivable | 41 | €58,997 | €92,541 | +€33,544 | +56.9% |
| Cash at bank and in hand | 54/58 | €234 | €52,900 | +€52,667 | +22,542% |
| Deferred charges and accrued income | 490/1 | €3,199 | €8,095 | +€4,896 | +153% |
| Total equity and liabilities | 10/49 | €575,059 | €565,118 | -€9,942 | -1.7% |
| Equity | 10/15 | €279,991 | €280,920 | +€930 | +0.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €267,550 | €267,550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €18,500 | €18,500 | = | 0.0% |
| Distributable reserves | 133 | €247,190 | €249,050 | +€1,860 | +0.8% |
| Profit (loss) carried forward | 14 | €41 | €970 | +€930 | +2,285% |
| Amounts payable | 17/49 | €295,069 | €284,197 | -€10,871 | -3.7% |
| Amounts payable after more than one year | 17 | €5,705 | €351 | -€5,354 | -93.8% |
| Financial debts | 170/4 | €4,505 | €351 | -€4,154 | -92.2% |
| Other amounts payable | 178/9 | €1,200 | - | -€1,200 | |
| Amounts payable within one year | 42/48 | €289,363 | €283,846 | -€5,518 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €4,043 | €4,154 | +€111 | +2.7% |
| Financial debts | 43 | €27,834 | €21,006 | -€6,828 | -24.5% |
| Credit institutions | 430/8 | €27,834 | €21,006 | -€6,828 | -24.5% |
| Trade debts | 44 | €143,049 | €245,077 | +€102,028 | +71.3% |
| Suppliers | 440/4 | €143,049 | €245,077 | +€102,028 | +71.3% |
| Advances received on contracts in progress | 46 | €98,055 | - | -€98,055 | |
| Taxes, remuneration and social security | 45 | €6,975 | €13,196 | +€6,220 | +89.2% |
| Taxes | 450/3 | €6,975 | €2,348 | -€4,627 | -66.3% |
| Remuneration and social security | 454/9 | - | €10,847 | +€10,847 | |
| Other amounts payable | 47/48 | €9,406 | €413 | -€8,993 | -95.6% |
| Non-recurring operating income | 76A | - | €998 | +€998 | |
| Remuneration, social security and pensions | 62 | €73 | €110,028 | +€109,955 | +150,170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,763 | €28,905 | +€141 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€50,738 | - | +€50,738 | |
| Other operating charges | 640/8 | €49,003 | €11,371 | -€37,632 | -76.8% |
| Non-recurring operating charges | 66A | - | €14,247 | +€14,247 | |
| Gross operating margin | 9900 | €32,200 | €173,922 | +€141,722 | +440% |
| Operating profit (loss) | 9901 | €5,098 | €9,372 | +€4,273 | +83.8% |
| Financial income | 75/76B | €0 | €330 | +€330 | +3,304,800% |
| Recurring financial income | 75 | €0 | €330 | +€330 | +3,304,800% |
| Financial charges | 65/66B | €3,707 | €6,382 | +€2,676 | +72.2% |
| Recurring financial charges | 65 | €3,707 | €6,382 | +€2,676 | +72.2% |
| Profit (loss) for the period before taxes | 9903 | €1,391 | €3,320 | +€1,928 | +139% |
| Income taxes | 67/77 | €694 | €2,390 | +€1,696 | +244% |
| Profit (loss) for the period | 9904 | €697 | €930 | +€233 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €697 | €930 | +€233 | +33.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.