AARDEWERKT: 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.
AARDEWERKT
Largest movements
- Receivables within one year +€18,922
up €18,922 (+140%), from €13,524 to €32,447
of which Trade receivables: +€18,882
- Tangible fixed assets +€5,271
up €5,271 (+2.8%), from €188,490 to €193,760
of which Other tangible fixed assets: +€19,694
- Profit (loss) carried forward +€17,918
up €17,918 (+63.7%), from €28,132 to €46,050
- Trade debts +€15,923
up €15,923 (+209%), from €7,623 to €23,546
- Debts after one year -€8,200
down €8,200 (-6.0%), from €137,485 to €129,285
- Other debts -€7,282
down €7,282 (-40.5%), from €17,995 to €10,713
- Gross operating margin -€25,444
down €25,444 (-35.3%), from €72,165 to €46,722
- Depreciation -€13,414
down €13,414 (-48.3%), from €27,800 to €14,386
- Taxes -€4,693
down €4,693 (-47.2%), from €9,945 to €5,252
- Financial charges +€3,409
up €3,409 (+114%), from €2,984 to €6,393
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 | €228,465 | €250,303 | +€21,837 | +9.6% |
| Fixed assets | 21/28 | €188,490 | €193,760 | +€5,271 | +2.8% |
| Tangible fixed assets | 22/27 | €188,490 | €193,760 | +€5,271 | +2.8% |
| Land and buildings | 22 | €136,264 | €133,139 | -€3,125 | -2.3% |
| Plant, machinery and equipment | 23 | €29,561 | €23,770 | -€5,792 | -19.6% |
| Furniture and vehicles | 24 | €22,664 | €17,157 | -€5,507 | -24.3% |
| Other tangible fixed assets | 26 | - | €19,694 | +€19,694 | |
| Current assets | 29/58 | €39,976 | €56,543 | +€16,567 | +41.4% |
| Stocks and contracts in progress | 3 | €1,415 | €992 | -€423 | -29.9% |
| Stocks | 30/36 | €1,415 | €992 | -€423 | -29.9% |
| Amounts receivable within one year | 40/41 | €13,524 | €32,447 | +€18,922 | +140% |
| Trade receivables | 40 | €13,292 | €32,174 | +€18,882 | +142% |
| Other amounts receivable | 41 | €232 | €273 | +€41 | +17.5% |
| Cash at bank and in hand | 54/58 | €24,547 | €22,590 | -€1,957 | -8.0% |
| Deferred charges and accrued income | 490/1 | €490 | €514 | +€24 | +4.9% |
| Total equity and liabilities | 10/49 | €228,465 | €250,303 | +€21,837 | +9.6% |
| Equity | 10/15 | €30,132 | €48,050 | +€17,918 | +59.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,132 | €46,050 | +€17,918 | +63.7% |
| Amounts payable | 17/49 | €198,333 | €202,253 | +€3,920 | +2.0% |
| Amounts payable after more than one year | 17 | €137,485 | €129,285 | -€8,200 | -6.0% |
| Financial debts | 170/4 | €137,485 | €129,285 | -€8,200 | -6.0% |
| Amounts payable within one year | 42/48 | €60,846 | €72,967 | +€12,122 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €21,002 | €23,200 | +€2,198 | +10.5% |
| Trade debts | 44 | €7,623 | €23,546 | +€15,923 | +209% |
| Suppliers | 440/4 | €7,623 | €23,546 | +€15,923 | +209% |
| Taxes, remuneration and social security | 45 | €14,226 | €15,509 | +€1,283 | +9.0% |
| Taxes | 450/3 | €14,226 | €15,509 | +€1,283 | +9.0% |
| Other amounts payable | 47/48 | €17,995 | €10,713 | -€7,282 | -40.5% |
| Accrued charges and deferred income | 492/3 | €2 | - | -€2 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,800 | €14,386 | -€13,414 | -48.3% |
| Other operating charges | 640/8 | €1,666 | €1,108 | -€557 | -33.5% |
| Gross operating margin | 9900 | €72,165 | €46,722 | -€25,444 | -35.3% |
| Operating profit (loss) | 9901 | €42,700 | €31,228 | -€11,472 | -26.9% |
| Financial income | 75/76B | €27 | €1 | -€26 | -97.5% |
| Recurring financial income | 75 | €27 | €1 | -€26 | -97.5% |
| Financial charges | 65/66B | €2,984 | €6,393 | +€3,409 | +114% |
| Recurring financial charges | 65 | €2,984 | €6,393 | +€3,409 | +114% |
| Profit (loss) for the period before taxes | 9903 | €39,743 | €24,836 | -€14,907 | -37.5% |
| Income taxes | 67/77 | €9,945 | €5,252 | -€4,693 | -47.2% |
| Profit (loss) for the period | 9904 | €29,798 | €19,584 | -€10,215 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,798 | €19,584 | -€10,215 | -34.3% |
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 23 October 2026 via checked.be.