AARDEVOL: 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.
AARDEVOL
Largest movements
- Receivables within one year +€14,320
up €14,320 (+204.3%), from €7,009 to €21,329
of which Trade receivables: +€15,325
- Tangible fixed assets -€9,148
down €9,148 (-13.0%), from €70,505 to €61,357
of which Land and buildings: -€23,039
- Cash +€8,208
up €8,208 (+392.2%), from €2,093 to €10,301
mainly Net result for the year (+€32,398) and Depreciation (+€24,441)
- Profit (loss) carried forward +€32,398
up €32,398 (+9.2%), from -€351,129 to -€318,731
- Debts after one year -€14,684
down €14,684 (-14.6%), from €100,858 to €86,174
- Short-term financial debts -€3,166
down €3,166 (-17.0%), from €18,600 to €15,434
- Trade debts +€2,753
up €2,753 (+134.2%), from €2,051 to €4,804
- Tax, wage and social debts -€2,100
no longer reported in 2025 (was €2,100)
- Turnover +€53,683
up €53,683 (+79.8%), from €67,273 to €120,956
- Gross operating margin +€40,387
up €40,387 (+135.4%), from €29,821 to €70,208
- Purchases and services +€13,297
up €13,297 (+35.5%), from €37,451 to €50,748
- Staff costs -€1,450
down €1,450 (-14.2%), from €10,228 to €8,778
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 | €79,966 | €93,346 | +€13,380 | +16.7% |
| Fixed assets | 21/28 | €70,864 | €61,716 | -€9,148 | -12.9% |
| Tangible fixed assets | 22/27 | €70,505 | €61,357 | -€9,148 | -13.0% |
| Land and buildings | 22 | €70,505 | €47,466 | -€23,039 | -32.7% |
| Plant, machinery and equipment | 23 | €0 | €7,070 | +€7,070 | |
| Furniture and vehicles | 24 | €0 | €1,821 | +€1,821 | |
| Assets under construction and advance payments | 27 | - | €5,000 | +€5,000 | |
| Financial fixed assets | 28 | €359 | €359 | = | 0.0% |
| Current assets | 29/58 | €9,102 | €31,630 | +€22,528 | +247.5% |
| Amounts receivable within one year | 40/41 | €7,009 | €21,329 | +€14,320 | +204.3% |
| Trade receivables | 40 | €5,503 | €20,828 | +€15,325 | +278.5% |
| Other amounts receivable | 41 | €1,506 | €501 | -€1,005 | -66.7% |
| Cash at bank and in hand | 54/58 | €2,093 | €10,301 | +€8,208 | +392.2% |
| Total equity and liabilities | 10/49 | €79,966 | €93,346 | +€13,380 | +16.7% |
| Equity | 10/15 | -€124,059 | -€91,661 | +€32,398 | +26.1% |
| Contributions | 10/11 | €227,070 | €227,070 | = | 0.0% |
| Capital | 10 | - | €227,070 | +€227,070 | |
| Issued capital | 100 | - | €227,070 | +€227,070 | |
| Profit (loss) carried forward | 14 | -€351,129 | -€318,731 | +€32,398 | +9.2% |
| Amounts payable | 17/49 | €204,025 | €185,007 | -€19,018 | -9.3% |
| Amounts payable after more than one year | 17 | €100,858 | €86,174 | -€14,684 | -14.6% |
| Financial debts | 170/4 | €100,858 | €86,174 | -€14,684 | -14.6% |
| Amounts payable within one year | 42/48 | €103,167 | €98,833 | -€4,334 | -4.2% |
| Financial debts | 43 | €18,600 | €15,434 | -€3,166 | -17.0% |
| Other loans | 439 | €18,600 | €15,434 | -€3,166 | -17.0% |
| Trade debts | 44 | €2,051 | €4,804 | +€2,753 | +134.2% |
| Suppliers | 440/4 | €2,051 | €4,804 | +€2,753 | +134.2% |
| Taxes, remuneration and social security | 45 | €2,100 | - | -€2,100 | |
| Remuneration and social security | 454/9 | €2,100 | - | -€2,100 | |
| Other amounts payable | 47/48 | €80,416 | €78,595 | -€1,821 | -2.3% |
| Turnover | 70 | €67,273 | €120,956 | +€53,683 | +79.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €37,451 | €50,748 | +€13,297 | +35.5% |
| Remuneration, social security and pensions | 62 | €10,228 | €8,778 | -€1,450 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,839 | €24,441 | +€602 | +2.5% |
| Other operating charges | 640/8 | €465 | €628 | +€163 | +35.1% |
| Gross operating margin | 9900 | €29,821 | €70,208 | +€40,387 | +135.4% |
| Operating profit (loss) | 9901 | -€4,711 | €36,361 | +€41,072 | |
| Financial charges | 65/66B | €4,127 | €3,963 | -€164 | -4.0% |
| Recurring financial charges | 65 | €4,127 | €3,963 | -€164 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,838 | €32,398 | +€41,236 | |
| Profit (loss) for the period | 9904 | -€8,838 | €32,398 | +€41,236 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,838 | €32,398 | +€41,236 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.