AE: 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.
What changed
AE
NACE 70.200, Business and other management consultancy
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€2.9m
2023 · €2.2m+€752,317
Equity
€8.6m
2023 · €7.5m+€1.1m
Cash
€1.8m
2023 · €733,384+€1.1m
Balance sheet total
€23.0m
2023 · €19.7m+€3.3m
Largest movements
Assets
- Cash +€1.1m
up €1.1m (+149.3%), from €733,384 to €1.8m
mainly Net result for the year (+€2.9m) and Depreciation (+€1.6m)
- Receivables within one year +€1.1m
up €1.1m (+8.1%), from €13.0m to €14.0m
of which Trade receivables: +€1.5m
- Tangible fixed assets +€913,691
up €913,691 (+92.4%), from €989,103 to €1.9m
of which Furniture and vehicles: +€1.1m
- Deferred charges and accrued income +€480,585
up €480,585 (+52.8%), from €910,805 to €1.4m
Equity and liabilities
- Profit (loss) carried forward +€969,645
up €969,645 (+20.3%), from €4.8m to €5.7m
- Accrued charges and deferred income +€786,860
up €786,860 (+90.2%), from €872,140 to €1.7m
- Debts after one year +€592,371
up €592,371 (+113.4%), from €522,183 to €1.1m
of which Financial debts: +€521,371
- Tax, wage and social debts +€386,164
up €386,164 (+10.4%), from €3.7m to €4.1m
of which Taxes: +€283,183
- Short-term financial debts -€375,824
down €375,824 (-38.3%), from €982,277 to €606,453
Income statement
- Turnover +€9.2m
up €9.2m (+18.2%), from €50.7m to €60.0m
- Goods and materials +€4.3m
up €4.3m (+26.6%), from €16.3m to €20.6m
- Staff costs +€2.4m
up €2.4m (+10.8%), from €22.5m to €25.0m
- Services and other goods +€1.4m
up €1.4m (+13.3%), from €10.5m to €11.9m
- Other operating income -€616,126
down €616,126 (-36.3%), from €1.7m to €1.1m
From the 2023 result to the 2024 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.
Result 2023
€2.2m
Turnover
+€9.2m
Other operating income
-€616,126
Goods and materials
-€4.3m
Services and other goods
-€1.4m
Staff costs
-€2.4m
Depreciation
-€12,486
Write-downs
-€44,742
Provisions
+€9,009
Other operating charges
+€68,508
Other operating items
+€280,361
Financial income
+€234,750
Financial charges
-€144,398
Taxes
-€78,752
Result 2024
€2.9m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4.7m
Investment
-€2.3m
Financing
-€1.3m
Cash 2023
€733,384
From operations (derived)
+€4.7m
Net result for the year
+€2.9m
Depreciation
+€1.6m
Receivables after one year
-€30,000
Stocks and contracts
+€10,647
Receivables within one year
-€1.1m
Deferred charges and accrued income
-€480,585
Provisions
+€4,814
Trade debts
+€230,660
Tax, wage and social debts
+€386,164
Other debts
+€299,338
Accrued charges and deferred income
+€786,860
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€2.3m
Current investments
-€21,366
Financing
-€1.3m
Debts after one year
+€592,371
Current portion of long-term debt
+€312,223
Short-term financial debts
-€375,824
Contributions, distributions and other
-€1.8m
Cash 2024
€1.8m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,698,761 | €23,020,126 | +€3.3m | +16.9% |
| Fixed assets | 21/28 | €4,051,421 | €4,705,776 | +€654,354 | +16.2% |
| Intangible fixed assets | 21 | €1,519,658 | €1,461,926 | -€57,733 | -3.8% |
| Tangible fixed assets | 22/27 | €989,103 | €1,902,794 | +€913,691 | +92.4% |
| Plant, machinery and equipment | 23 | €707,784 | €701,205 | -€6,578 | -0.9% |
| Furniture and vehicles | 24 | €142,907 | €1,195,199 | +€1.1m | +736.3% |
| Leasing and similar rights | 25 | €583 | - | -€583 | |
| Other tangible fixed assets | 26 | €137,830 | €6,390 | -€131,440 | -95.4% |
| Financial fixed assets | 28 | €1,542,660 | €1,341,056 | -€201,604 | -13.1% |
| Affiliated companies | 280/1 | €1,347,208 | €1,147,209 | -€200,000 | -14.8% |
| Participating interests | 280 | €297,208 | €297,209 | +€0 | 0.0% |
| Amounts receivable | 281 | €1,050,000 | €850,000 | -€200,000 | -19.0% |
| Companies linked by participating interests | 282/3 | €31 | €31 | = | 0.0% |
| Participating interests | 282 | €31 | €31 | = | 0.0% |
| Other financial fixed assets | 284/8 | €195,420 | €193,816 | -€1,604 | -0.8% |
| Amounts receivable and cash guarantees | 285/8 | €195,420 | €193,816 | -€1,604 | -0.8% |
| Current assets | 29/58 | €15,647,340 | €18,314,351 | +€2.7m | +17.0% |
| Amounts receivable after more than one year | 29 | - | €30,000 | +€30,000 | |
| Other amounts receivable | 291 | - | €30,000 | +€30,000 | |
| Stocks and contracts in progress | 3 | €34,672 | €24,026 | -€10,647 | -30.7% |
| Contracts in progress | 37 | €34,672 | €24,026 | -€10,647 | -30.7% |
| Amounts receivable within one year | 40/41 | €12,981,521 | €14,032,160 | +€1.1m | +8.1% |
| Trade receivables | 40 | €11,474,880 | €12,977,490 | +€1.5m | +13.1% |
| Other amounts receivable | 41 | €1,506,641 | €1,054,670 | -€451,972 | -30.0% |
| Current investments | 50/53 | €986,957 | €1,008,323 | +€21,366 | +2.2% |
| Other investments | 51/53 | €986,957 | €1,008,323 | +€21,366 | +2.2% |
| Cash at bank and in hand | 54/58 | €733,384 | €1,828,451 | +€1.1m | +149.3% |
| Deferred charges and accrued income | 490/1 | €910,805 | €1,391,391 | +€480,585 | +52.8% |
| Total equity and liabilities | 10/49 | €19,698,761 | €23,020,126 | +€3.3m | +16.9% |
| Equity | 10/15 | €7,506,991 | €8,591,749 | +€1.1m | +14.4% |
| Contributions | 10/11 | €1,925,658 | €1,925,658 | = | 0.0% |
| Capital | 10 | €1,145,293 | €1,145,293 | = | 0.0% |
| Issued capital | 100 | €1,145,293 | €1,145,293 | = | 0.0% |
| Outside capital | 11 | €780,365 | €780,365 | = | 0.0% |
| Share premium | 1100/10 | €780,365 | €780,365 | = | 0.0% |
| Reserves | 13 | €639,529 | €639,529 | = | 0.0% |
| Non-distributable reserves | 130/1 | €114,529 | €114,529 | = | 0.0% |
| Legal reserve | 130 | €114,529 | €114,529 | = | 0.0% |
| Distributable reserves | 133 | €525,000 | €525,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,780,123 | €5,749,768 | +€969,645 | +20.3% |
| Investment grants | 15 | €161,681 | €276,794 | +€115,113 | +71.2% |
| Provisions and deferred taxes | 16 | €77,278 | €82,093 | +€4,814 | +6.2% |
| Provisions for liabilities and charges | 160/5 | €77,278 | €82,093 | +€4,814 | +6.2% |
| Pensions and similar obligations | 160 | €77,278 | €82,093 | +€4,814 | +6.2% |
| Amounts payable | 17/49 | €12,114,491 | €14,346,284 | +€2.2m | +18.4% |
| Amounts payable after more than one year | 17 | €522,183 | €1,114,554 | +€592,371 | +113.4% |
| Financial debts | 170/4 | €149,683 | €671,054 | +€521,371 | +348.3% |
| Credit institutions | 173 | - | €571,265 | +€571,265 | |
| Other loans | 174 | €149,683 | €99,789 | -€49,894 | -33.3% |
| Other amounts payable | 178/9 | €372,500 | €443,500 | +€71,000 | +19.1% |
| Amounts payable within one year | 42/48 | €10,720,168 | €11,572,730 | +€852,562 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €49,894 | €362,118 | +€312,223 | +625.8% |
| Financial debts | 43 | €982,277 | €606,453 | -€375,824 | -38.3% |
| Credit institutions | 430/8 | €982,277 | €606,453 | -€375,824 | -38.3% |
| Trade debts | 44 | €3,515,400 | €3,746,061 | +€230,660 | +6.6% |
| Suppliers | 440/4 | €3,515,400 | €3,746,061 | +€230,660 | +6.6% |
| Taxes, remuneration and social security | 45 | €3,696,397 | €4,082,562 | +€386,164 | +10.4% |
| Taxes | 450/3 | €364,671 | €647,853 | +€283,183 | +77.7% |
| Remuneration and social security | 454/9 | €3,331,727 | €3,434,709 | +€102,982 | +3.1% |
| Other amounts payable | 47/48 | €2,476,200 | €2,775,537 | +€299,338 | +12.1% |
| Accrued charges and deferred income | 492/3 | €872,140 | €1,659,000 | +€786,860 | +90.2% |
| Operating income | 70/76A | €53,070,007 | €61,968,811 | +€8.9m | +16.8% |
| Turnover | 70 | €50,739,485 | €59,969,781 | +€9.2m | +18.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€140,709 | -€10,647 | +€130,063 | +92.4% |
| Own construction capitalised | 72 | €766,438 | €918,190 | +€151,752 | +19.8% |
| Other operating income | 74 | €1,699,599 | €1,083,473 | -€616,126 | -36.3% |
| Non-recurring operating income | 76A | €5,195 | €8,013 | +€2,819 | +54.3% |
| Operating charges | 60/66A | €51,003,518 | €59,161,606 | +€8.2m | +16.0% |
| Goods for resale, raw materials and consumables | 60 | €16,294,219 | €20,634,498 | +€4.3m | +26.6% |
| Purchases | 600/8 | €16,294,219 | €20,634,498 | +€4.3m | +26.6% |
| Services and other goods | 61 | €10,488,288 | €11,879,153 | +€1.4m | +13.3% |
| Remuneration, social security and pensions | 62 | €22,541,941 | €24,984,901 | +€2.4m | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,592,163 | €1,604,649 | +€12,486 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €44,742 | +€44,742 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €13,824 | €4,814 | -€9,009 | -65.2% |
| Other operating charges | 640/8 | €72,781 | €4,273 | -€68,508 | -94.1% |
| Non-recurring operating charges | 66A | €303 | €4,575 | +€4,272 | +1411.3% |
| Operating profit (loss) | 9901 | €2,066,489 | €2,807,205 | +€740,716 | +35.8% |
| Financial income | 75/76B | €726,267 | €961,018 | +€234,750 | +32.3% |
| Recurring financial income | 75 | €667,001 | €961,018 | +€294,016 | +44.1% |
| Income from financial fixed assets | 750 | €9,356 | €813,494 | +€804,138 | +8594.7% |
| Income from current assets | 751 | €110,287 | €32,906 | -€77,380 | -70.2% |
| Other financial income | 752/9 | €547,358 | €114,618 | -€432,741 | -79.1% |
| Non-recurring financial income | 76B | €59,266 | - | -€59,266 | |
| Financial charges | 65/66B | €463,498 | €607,896 | +€144,398 | +31.2% |
| Recurring financial charges | 65 | €463,498 | €607,896 | +€144,398 | +31.2% |
| Debt charges | 650 | €453,568 | €594,480 | +€140,911 | +31.1% |
| Other financial charges | 652/9 | €9,930 | €13,416 | +€3,486 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €2,329,259 | €3,160,327 | +€831,068 | +35.7% |
| Income taxes | 67/77 | €160,815 | €239,566 | +€78,752 | +49.0% |
| Taxes | 670/3 | €174,906 | €239,566 | +€64,661 | +37.0% |
| Tax adjustments and reversals of tax provisions | 77 | €14,091 | - | -€14,091 | |
| Profit (loss) for the period | 9904 | €2,168,444 | €2,920,761 | +€752,317 | +34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,168,444 | €2,920,761 | +€752,317 | +34.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.