AA Investments: what changed
AA Investments
Largest movements
- Stocks and contracts -€282,285
down €282,285 (-51.8%), from €544,819 to €262,534
- Receivables within one year -€15,320
no longer reported in 2025 (was €15,320)
- Short-term financial debts -€225,000
no longer reported in 2025 (was €225,000)
- Debts after one year -€78,349
down €78,349 (-21.6%), from €362,029 to €283,680
- Trade debts -€18,086
down €18,086 (-99.9%), from €18,103 to €17
- Tax, wage and social debts +€15,138
up €15,138 (+152%), from €9,976 to €25,114
- Profit (loss) carried forward +€8,016
up €8,016 (+13.6%), from -€59,144 to -€51,128
- Gross operating margin +€67,723
up €67,723, from -€14,187 to €53,537
- Staff costs +€7,608
up €7,608 (+28.6%), from €26,603 to €34,210
- Financial charges -€867
down €867 (-9.0%), from €9,660 to €8,793
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €560,964 | €262,683 | -€298,281 | -53.2% |
| Fixed assets | 21/28 | €226 | €116 | -€110 | -48.6% |
| Tangible fixed assets | 22/27 | €226 | €116 | -€110 | -48.6% |
| Plant, machinery and equipment | 23 | €226 | €116 | -€110 | -48.6% |
| Current assets | 29/58 | €560,738 | €262,567 | -€298,171 | -53.2% |
| Stocks and contracts in progress | 3 | €544,819 | €262,534 | -€282,285 | -51.8% |
| Stocks | 30/36 | €544,819 | €262,534 | -€282,285 | -51.8% |
| Amounts receivable within one year | 40/41 | €15,320 | - | -€15,320 | |
| Trade receivables | 40 | €15,320 | - | -€15,320 | |
| Cash at bank and in hand | 54/58 | €599 | €32 | -€566 | -94.6% |
| Total equity and liabilities | 10/49 | €560,964 | €262,683 | -€298,281 | -53.2% |
| Equity | 10/15 | -€54,144 | -€46,128 | +€8,016 | +14.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,144 | -€51,128 | +€8,016 | +13.6% |
| Amounts payable | 17/49 | €615,108 | €308,811 | -€306,297 | -49.8% |
| Amounts payable after more than one year | 17 | €362,029 | €283,680 | -€78,349 | -21.6% |
| Other amounts payable | 178/9 | €362,029 | €283,680 | -€78,349 | -21.6% |
| Amounts payable within one year | 42/48 | €253,079 | €25,131 | -€227,948 | -90.1% |
| Financial debts | 43 | €225,000 | - | -€225,000 | |
| Credit institutions | 430/8 | €225,000 | - | -€225,000 | |
| Trade debts | 44 | €18,103 | €17 | -€18,086 | -99.9% |
| Suppliers | 440/4 | €18,103 | €17 | -€18,086 | -99.9% |
| Taxes, remuneration and social security | 45 | €9,976 | €25,114 | +€15,138 | +152% |
| Remuneration and social security | 454/9 | €9,976 | €25,114 | +€15,138 | +152% |
| Remuneration, social security and pensions | 62 | €26,603 | €34,210 | +€7,608 | +28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104 | €110 | +€6 | +6.1% |
| Other operating charges | 640/8 | €1,976 | €2,407 | +€431 | +21.8% |
| Gross operating margin | 9900 | -€14,187 | €53,537 | +€67,723 | |
| Operating profit (loss) | 9901 | -€42,870 | €16,809 | +€59,679 | |
| Financial charges | 65/66B | €9,660 | €8,793 | -€867 | -9.0% |
| Recurring financial charges | 65 | €9,660 | €8,793 | -€867 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€52,530 | €8,016 | +€60,545 | |
| Profit (loss) for the period | 9904 | -€52,530 | €8,016 | +€60,545 | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,530 | €8,016 | +€60,545 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.