AARON HOSTE: 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.
AARON HOSTE
Largest movements
- Tangible fixed assets -€76,937
down €76,937 (-11.8%), from €649,978 to €573,041
of which Furniture and vehicles: -€46,147
- Cash -€11,702
down €11,702 (-34.0%), from €34,461 to €22,759
mainly Debts after one year (-€48,699) and Investment in fixed assets (net) (-€19,293)
- Debts after one year -€48,699
down €48,699 (-17.7%), from €274,550 to €225,850
- Other debts -€18,706
down €18,706 (-19.1%), from €97,810 to €79,105
- Tax, wage and social debts -€16,890
down €16,890 (-75.8%), from €22,281 to €5,390
- Current portion of long-term debt -€15,958
down €15,958 (-24.7%), from €64,657 to €48,699
- Gross operating margin -€135,920
down €135,920 (-49.4%), from €275,262 to €139,342
- Financial charges -€35,047
down €35,047 (-55.9%), from €62,705 to €27,658
of which Financial charges: -€30,101
- Staff costs -€30,794
no longer reported in 2025 (was €30,794)
- Taxes -€17,012
down €17,012 (-99.4%), from €17,113 to €101
- Depreciation -€13,367
down €13,367 (-12.2%), from €109,937 to €96,570
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 | €794,719 | €697,947 | -€96,772 | -12.2% |
| Fixed assets | 21/28 | €653,239 | €575,962 | -€77,277 | -11.8% |
| Intangible fixed assets | 21 | €761 | €421 | -€340 | -44.7% |
| Tangible fixed assets | 22/27 | €649,978 | €573,041 | -€76,937 | -11.8% |
| Land and buildings | 22 | €317,212 | €306,852 | -€10,360 | -3.3% |
| Plant, machinery and equipment | 23 | €41,927 | €35,547 | -€6,380 | -15.2% |
| Furniture and vehicles | 24 | €151,020 | €104,873 | -€46,147 | -30.6% |
| Leasing and similar rights | 25 | €23,122 | - | -€23,122 | |
| Assets under construction and advance payments | 27 | €116,697 | €125,768 | +€9,071 | +7.8% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €141,480 | €121,985 | -€19,495 | -13.8% |
| Stocks and contracts in progress | 3 | €8,531 | €9,385 | +€855 | +10.0% |
| Stocks | 30/36 | €8,531 | €9,385 | +€855 | +10.0% |
| Amounts receivable within one year | 40/41 | €77,509 | €74,935 | -€2,574 | -3.3% |
| Trade receivables | 40 | €51,866 | €47,043 | -€4,822 | -9.3% |
| Other amounts receivable | 41 | €25,644 | €27,892 | +€2,248 | +8.8% |
| Cash at bank and in hand | 54/58 | €34,461 | €22,759 | -€11,702 | -34.0% |
| Deferred charges and accrued income | 490/1 | €20,979 | €14,906 | -€6,073 | -28.9% |
| Total equity and liabilities | 10/49 | €794,719 | €697,947 | -€96,772 | -12.2% |
| Equity | 10/15 | €323,923 | €324,213 | +€290 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €305,323 | €305,613 | +€290 | +0.1% |
| Tax-exempt reserves | 132 | €47,111 | €47,111 | = | 0.0% |
| Distributable reserves | 133 | €258,211 | €258,501 | +€290 | +0.1% |
| Amounts payable | 17/49 | €470,796 | €373,734 | -€97,062 | -20.6% |
| Amounts payable after more than one year | 17 | €274,550 | €225,850 | -€48,699 | -17.7% |
| Financial debts | 170/4 | €274,550 | €225,850 | -€48,699 | -17.7% |
| Amounts payable within one year | 42/48 | €196,223 | €147,883 | -€48,340 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €64,657 | €48,699 | -€15,958 | -24.7% |
| Trade debts | 44 | €11,476 | €14,690 | +€3,214 | +28.0% |
| Suppliers | 440/4 | €11,476 | €14,690 | +€3,214 | +28.0% |
| Taxes, remuneration and social security | 45 | €22,281 | €5,390 | -€16,890 | -75.8% |
| Taxes | 450/3 | €22,281 | €5,390 | -€16,890 | -75.8% |
| Other amounts payable | 47/48 | €97,810 | €79,105 | -€18,706 | -19.1% |
| Accrued charges and deferred income | 492/3 | €23 | - | -€23 | |
| Non-recurring operating income | 76A | €3,866 | - | -€3,866 | |
| Remuneration, social security and pensions | 62 | €30,794 | - | -€30,794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,937 | €96,570 | -€13,367 | -12.2% |
| Other operating charges | 640/8 | €9,046 | €9,143 | +€96 | +1.1% |
| Non-recurring operating charges | 66A | - | €5,580 | +€5,580 | |
| Gross operating margin | 9900 | €275,262 | €139,342 | -€135,920 | -49.4% |
| Operating profit (loss) | 9901 | €125,484 | €28,049 | -€97,435 | -77.6% |
| Financial income | 75/76B | €401 | - | -€401 | |
| Recurring financial income | 75 | €401 | - | -€401 | |
| Financial charges | 65/66B | €62,705 | €27,658 | -€35,047 | -55.9% |
| Recurring financial charges | 65 | €57,758 | €27,658 | -€30,101 | -52.1% |
| Non-recurring financial charges | 66B | €4,947 | - | -€4,947 | |
| Profit (loss) for the period before taxes | 9903 | €63,180 | €391 | -€62,789 | -99.4% |
| Income taxes | 67/77 | €17,113 | €101 | -€17,012 | -99.4% |
| Profit (loss) for the period | 9904 | €46,067 | €290 | -€45,777 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,067 | €290 | -€45,777 | -99.4% |
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 10 October 2026 via checked.be.