AARTMAN: what changed
Two fiscal 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.
AARTMAN
Largest movements
- Tangible fixed assets +€2.3m
new in 2025: €2.3m
- Stocks and contracts +€614,627
up €614,627 (+9.1%), from €6.7m to €7.4m
- Short-term financial debts +€2.2m
up €2.2m (+44.7%), from €5.0m to €7.2m
- Trade debts +€320,330
up €320,330 (+1167.8%), from €27,430 to €347,760
- Accrued charges and deferred income +€161,298
up €161,298 (+1613.0%), from €10,000 to €171,298
- Other debts +€144,300
up €144,300 (+8.6%), from €1.7m to €1.8m
- Financial charges -€132,922
down €132,922 (-61.3%), from €216,848 to €83,926
- Gross operating margin -€120,240
down €120,240 (-51.2%), from €234,799 to €114,559
- Other operating charges +€5,866
up €5,866 (+422.1%), from €1,390 to €7,256
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 | €6,791,059 | €9,652,493 | +€2.9m | +42.1% |
| Fixed assets | 21/28 | - | €2,280,000 | +€2.3m | |
| Tangible fixed assets | 22/27 | - | €2,280,000 | +€2.3m | |
| Land and buildings | 22 | - | €2,280,000 | +€2.3m | |
| Current assets | 29/58 | €6,791,059 | €7,372,493 | +€581,433 | +8.6% |
| Stocks and contracts in progress | 3 | €6,745,600 | €7,360,228 | +€614,627 | +9.1% |
| Stocks | 30/36 | €6,745,600 | €7,360,228 | +€614,627 | +9.1% |
| Amounts receivable within one year | 40/41 | €381 | - | -€381 | |
| Other amounts receivable | 41 | €381 | - | -€381 | |
| Cash at bank and in hand | 54/58 | €33,772 | €12,265 | -€21,508 | -63.7% |
| Deferred charges and accrued income | 490/1 | €11,306 | - | -€11,306 | |
| Total equity and liabilities | 10/49 | €6,791,059 | €9,652,493 | +€2.9m | +42.1% |
| Equity | 10/15 | €51,752 | €68,889 | +€17,138 | +33.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,492 | €54,629 | +€17,138 | +45.7% |
| Amounts payable | 17/49 | €6,739,308 | €9,583,603 | +€2.8m | +42.2% |
| Amounts payable within one year | 42/48 | €6,729,308 | €9,412,305 | +€2.7m | +39.9% |
| Financial debts | 43 | €5,006,236 | €7,242,000 | +€2.2m | +44.7% |
| Credit institutions | 430/8 | €5,006,236 | €7,242,000 | +€2.2m | +44.7% |
| Trade debts | 44 | €27,430 | €347,760 | +€320,330 | +1167.8% |
| Suppliers | 440/4 | €27,430 | €347,760 | +€320,330 | +1167.8% |
| Taxes, remuneration and social security | 45 | €23,635 | €6,239 | -€17,396 | -73.6% |
| Taxes | 450/3 | €23,635 | €6,239 | -€17,396 | -73.6% |
| Other amounts payable | 47/48 | €1,672,007 | €1,816,307 | +€144,300 | +8.6% |
| Accrued charges and deferred income | 492/3 | €10,000 | €171,298 | +€161,298 | +1613.0% |
| Other operating charges | 640/8 | €1,390 | €7,256 | +€5,866 | +422.1% |
| Gross operating margin | 9900 | €234,799 | €114,559 | -€120,240 | -51.2% |
| Operating profit (loss) | 9901 | €233,409 | €107,302 | -€126,107 | -54.0% |
| Financial charges | 65/66B | €216,848 | €83,926 | -€132,922 | -61.3% |
| Recurring financial charges | 65 | €216,848 | €83,926 | -€132,922 | -61.3% |
| Profit (loss) for the period before taxes | 9903 | €16,561 | €23,376 | +€6,815 | +41.2% |
| Income taxes | 67/77 | €4,513 | €6,239 | +€1,726 | +38.2% |
| Profit (loss) for the period | 9904 | €12,048 | €17,138 | +€5,089 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,048 | €17,138 | +€5,089 | +42.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.