AARDELEK: 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.
AARDELEK
Largest movements
- Tangible fixed assets +€29,116
up €29,116 (+441%), from €6,595 to €35,711
of which Furniture and vehicles: +€30,082
- Receivables within one year -€28,287
down €28,287 (-17.3%), from €163,310 to €135,023
of which Trade receivables: -€33,047
- Deferred charges and accrued income +€21,091
up €21,091 (+524%), from €4,026 to €25,117
- Stocks and contracts +€10,231
up €10,231 (+562%), from €1,820 to €12,051
- Cash +€6,160
up €6,160 (+5.8%), from €105,870 to €112,030
mainly Net result for the year (+€29,321) and Receivables within one year (+€28,287)
- Reserves +€29,321
up €29,321 (+15.3%), from €192,198 to €221,518
- Other debts -€23,663
no longer reported in 2025 (was €23,663)
- Trade debts +€16,576
up €16,576 (+60.0%), from €27,611 to €44,187
- Tax, wage and social debts +€16,077
up €16,077 (+82.2%), from €19,549 to €35,626
of which Taxes: +€11,538
- Gross operating margin -€25,560
down €25,560 (-34.9%), from €73,269 to €47,709
- Taxes -€7,570
down €7,570 (-39.2%), from €19,329 to €11,758
- Depreciation +€5,590
up €5,590 (+347%), from €1,613 to €7,203
- Other operating charges -€5,156
down €5,156 (-91.7%), from €5,625 to €469
- Financial charges +€1,557
up €1,557 (+177%), from €880 to €2,437
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €281,621 | €319,932 | +€38,311 | +13.6% |
| Fixed assets | 21/28 | €6,595 | €35,711 | +€29,116 | +441% |
| Tangible fixed assets | 22/27 | €6,595 | €35,711 | +€29,116 | +441% |
| Plant, machinery and equipment | 23 | €4,198 | €3,232 | -€966 | -23.0% |
| Furniture and vehicles | 24 | €2,397 | €32,479 | +€30,082 | +1,255% |
| Current assets | 29/58 | €275,026 | €284,221 | +€9,195 | +3.3% |
| Stocks and contracts in progress | 3 | €1,820 | €12,051 | +€10,231 | +562% |
| Stocks | 30/36 | €1,820 | €12,051 | +€10,231 | +562% |
| Amounts receivable within one year | 40/41 | €163,310 | €135,023 | -€28,287 | -17.3% |
| Trade receivables | 40 | €161,703 | €128,655 | -€33,047 | -20.4% |
| Other amounts receivable | 41 | €1,608 | €6,368 | +€4,760 | +296% |
| Cash at bank and in hand | 54/58 | €105,870 | €112,030 | +€6,160 | +5.8% |
| Deferred charges and accrued income | 490/1 | €4,026 | €25,117 | +€21,091 | +524% |
| Total equity and liabilities | 10/49 | €281,621 | €319,932 | +€38,311 | +13.6% |
| Equity | 10/15 | €210,798 | €240,118 | +€29,321 | +13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €192,198 | €221,518 | +€29,321 | +15.3% |
| Distributable reserves | 133 | €192,198 | €221,518 | +€29,321 | +15.3% |
| Amounts payable | 17/49 | €70,823 | €79,814 | +€8,990 | +12.7% |
| Amounts payable within one year | 42/48 | €70,823 | €79,814 | +€8,990 | +12.7% |
| Trade debts | 44 | €27,611 | €44,187 | +€16,576 | +60.0% |
| Suppliers | 440/4 | €27,611 | €44,187 | +€16,576 | +60.0% |
| Taxes, remuneration and social security | 45 | €19,549 | €35,626 | +€16,077 | +82.2% |
| Taxes | 450/3 | €19,549 | €31,087 | +€11,538 | +59.0% |
| Remuneration and social security | 454/9 | - | €4,539 | +€4,539 | |
| Other amounts payable | 47/48 | €23,663 | - | -€23,663 | |
| Non-recurring operating income | 76A | - | €5,750 | +€5,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,613 | €7,203 | +€5,590 | +347% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €538 | - | -€538 | |
| Other operating charges | 640/8 | €5,625 | €469 | -€5,156 | -91.7% |
| Gross operating margin | 9900 | €73,269 | €47,709 | -€25,560 | -34.9% |
| Operating profit (loss) | 9901 | €65,493 | €40,037 | -€25,456 | -38.9% |
| Financial income | 75/76B | €2,947 | €3,479 | +€532 | +18.0% |
| Recurring financial income | 75 | €2,947 | €3,479 | +€532 | +18.0% |
| Financial charges | 65/66B | €880 | €2,437 | +€1,557 | +177% |
| Recurring financial charges | 65 | €880 | €2,437 | +€1,557 | +177% |
| Profit (loss) for the period before taxes | 9903 | €67,561 | €41,079 | -€26,482 | -39.2% |
| Income taxes | 67/77 | €19,329 | €11,758 | -€7,570 | -39.2% |
| Profit (loss) for the period | 9904 | €48,232 | €29,321 | -€18,911 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,232 | €29,321 | -€18,911 | -39.2% |
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 17 October 2026 via checked.be.