AAHR SRL: 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
AAHR SRL
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€24.6m
2024 · €53.3m-€28.7m
Equity
€727.5m
2024 · €727.9m-€364,340
Cash
€402,728
2024 · €181,290+€221,438
Balance sheet total
€727.9m
2024 · €728.1m-€267,833
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€28.8m
down €28.8m (-52.9%), from €54.4m to €25.6m
of which Financial income: -€28.8m
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
€53.3m
Other operating items
+€74,698
Financial income
-€28.8m
Financial charges
+€415
Result 2025
€24.6m
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
+€24.7m
Investment
+€500,000
Financing
-€25.0m
Cash 2024
€181,290
From operations (derived)
+€24.7m
Net result for the year
+€24.6m
Deferred charges and accrued income
-€10,729
Trade debts
+€99,515
Investment (derived)
+€500,000
Current investments
+€500,000
Financing
-€25.0m
Short-term financial debts
-€3,008
Contributions, distributions and other
-€25.0m
Cash 2025
€402,728
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €728,135,206 | €727,867,373 | -€267,833 | 0.0% |
| Fixed assets | 21/28 | €726,551,000 | €726,551,000 | = | 0.0% |
| Financial fixed assets | 28 | €726,551,000 | €726,551,000 | = | 0.0% |
| Affiliated companies | 280/1 | €726,551,000 | €726,551,000 | = | 0.0% |
| Participating interests | 280 | €726,551,000 | €726,551,000 | = | 0.0% |
| Current assets | 29/58 | €1,584,206 | €1,316,373 | -€267,833 | -16.9% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €1,400,000 | €900,000 | -€500,000 | -35.7% |
| Other investments | 51/53 | €1,400,000 | €900,000 | -€500,000 | -35.7% |
| Cash at bank and in hand | 54/58 | €181,290 | €402,728 | +€221,438 | +122% |
| Deferred charges and accrued income | 490/1 | €2,916 | €13,645 | +€10,729 | +368% |
| Total equity and liabilities | 10/49 | €728,135,206 | €727,867,373 | -€267,833 | 0.0% |
| Equity | 10/15 | €727,861,139 | €727,496,799 | -€364,340 | -0.1% |
| Contributions | 10/11 | €504,761,191 | €504,761,191 | = | 0.0% |
| Reserves | 13 | €221,689,810 | €221,689,810 | = | 0.0% |
| Non-distributable reserves | 130/1 | €221,689,810 | €221,689,810 | = | 0.0% |
| Other | 1319 | €221,689,810 | €221,689,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,410,138 | €1,045,798 | -€364,340 | -25.8% |
| Amounts payable | 17/49 | €274,067 | €370,574 | +€96,507 | +35.2% |
| Amounts payable within one year | 42/48 | €274,067 | €370,574 | +€96,507 | +35.2% |
| Financial debts | 43 | €3,008 | €0 | -€3,008 | -100% |
| Credit institutions | 430/8 | €3,008 | €0 | -€3,008 | -100% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €271,059 | €370,574 | +€99,515 | +36.7% |
| Suppliers | 440/4 | €271,059 | €370,574 | +€99,515 | +36.7% |
| Operating income | 70/76A | €50,129 | €0 | -€50,129 | -100% |
| Non-recurring operating income | 76A | €50,129 | €0 | -€50,129 | -100% |
| Operating charges | 60/66A | €1,104,544 | €979,717 | -€124,827 | -11.3% |
| Services and other goods | 61 | €1,104,544 | €979,717 | -€124,827 | -11.3% |
| Other operating charges | 640/8 | €0 | - | = | |
| Operating profit (loss) | 9901 | -€1,054,415 | -€979,717 | +€74,698 | +7.1% |
| Financial income | 75/76B | €54,398,527 | €25,619,401 | -€28.8m | -52.9% |
| Recurring financial income | 75 | €54,398,527 | €25,619,401 | -€28.8m | -52.9% |
| Income from financial fixed assets | 750 | €54,050,000 | €25,500,000 | -€28.6m | -52.8% |
| Income from current assets | 751 | €348,527 | €106,085 | -€242,442 | -69.6% |
| Other financial income | 752/9 | €0 | €13,316 | +€13,316 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,439 | €4,024 | -€415 | -9.3% |
| Recurring financial charges | 65 | €4,439 | €4,024 | -€415 | -9.3% |
| Other financial charges | 652/9 | €4,439 | €4,024 | -€415 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €53,339,673 | €24,635,660 | -€28.7m | -53.8% |
| Profit (loss) for the period | 9904 | €53,339,673 | €24,635,660 | -€28.7m | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,339,673 | €24,635,660 | -€28.7m | -53.8% |
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 21 October 2026 via checked.be.