AE Group: 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 Group
NACE 73.200, Market research and public opinion polling
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€799,700
2024 · -€558,664+€1.4m
Equity
€43.1m
2024 · €16.6m+€26.4m
Cash
€283,447
2024 · €95,931+€187,517
Balance sheet total
€68.3m
2024 · €35.7m+€32.6m
Largest movements
Assets
- Financial fixed assets +€29.0m
up €29.0m (+95.4%), from €30.4m to €59.4m
of which Affiliated companies: +€29.0m
- Tangible fixed assets +€3.4m
up €3.4m (+72.9%), from €4.7m to €8.1m
of which Other tangible fixed assets: +€4.7m
Equity and liabilities
- Revaluation surpluses +€24.8m
new in 2025: €24.8m
- Debts after one year +€5.2m
up €5.2m (+32.5%), from €16.0m to €21.2m
- Reserves +€796,143
up €796,143 (+20.5%), from €3.9m to €4.7m
of which Distributable reserves: +€716,552
- Contributions +€795,910
up €795,910 (+6.3%), from €12.7m to €13.5m
of which Capital: +€795,910
Income statement
- Turnover +€955,833
up €955,833 (+42.2%), from €2.3m to €3.2m
- Financial income +€696,850
up €696,850 (+1519.5%), from €45,860 to €742,710
of which Non-recurring financial income: +€724,640
- Financial charges +€184,732
up €184,732 (+17.5%), from €1.1m to €1.2m
of which Financial charges: +€273,094
- Staff costs +€106,552
up €106,552 (+88.7%), from €120,097 to €226,649
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.
Result 2024
-€558,664
Turnover
+€955,833
Other operating income
+€25,086
Goods and materials
-€32,113
Services and other goods
-€1,660
Staff costs
-€106,552
Depreciation
-€15,601
Other operating charges
+€25,286
Other operating items
-€2,921
Financial income
+€696,850
Financial charges
-€184,732
Taxes
-€1,112
Result 2025
€799,700
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.
From operations
+€2.0m
Investment
-€32.9m
Financing
+€31.1m
Cash 2024
€95,931
From operations (derived)
+€2.0m
Net result for the year
+€799,700
Depreciation
+€438,370
Smaller working-capital items
+€18,586
Trade debts
-€94,383
Other debts
+€621,810
Accrued charges and deferred income
+€197,789
Investment (derived)
-€32.9m
Investment in fixed assets (net)
-€32.9m
Financing
+€31.1m
Debts after one year
+€5.2m
Current portion of long-term debt
+€205,885
Contributions, distributions and other
+€25.6m
Cash 2025
€283,447
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,692,720 | €68,302,856 | +€32.6m | +91.4% |
| Fixed assets | 21/28 | €35,086,726 | €67,499,645 | +€32.4m | +92.4% |
| Tangible fixed assets | 22/27 | €4,662,036 | €8,062,092 | +€3.4m | +72.9% |
| Land and buildings | 22 | €29,620 | €28,134 | -€1,485 | -5.0% |
| Plant, machinery and equipment | 23 | €187,252 | €178,602 | -€8,650 | -4.6% |
| Furniture and vehicles | 24 | €136,203 | €106,310 | -€29,893 | -21.9% |
| Other tangible fixed assets | 26 | €3,004,749 | €7,749,047 | +€4.7m | +157.9% |
| Assets under construction and advance payments | 27 | €1,304,213 | €0 | -€1.3m | -100.0% |
| Financial fixed assets | 28 | €30,424,690 | €59,437,553 | +€29.0m | +95.4% |
| Affiliated companies | 280/1 | €30,398,420 | €59,411,283 | +€29.0m | +95.4% |
| Participating interests | 280 | €30,398,420 | €59,411,283 | +€29.0m | +95.4% |
| Companies linked by participating interests | 282/3 | €26,270 | €26,270 | = | 0.0% |
| Participating interests | 282 | €26,270 | €26,270 | = | 0.0% |
| Current assets | 29/58 | €605,994 | €803,211 | +€197,217 | +32.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €452,865 | €451,146 | -€1,718 | -0.4% |
| Trade receivables | 40 | €451,365 | €430,091 | -€21,273 | -4.7% |
| Other amounts receivable | 41 | €1,500 | €21,055 | +€19,555 | +1303.7% |
| Cash at bank and in hand | 54/58 | €95,931 | €283,447 | +€187,517 | +195.5% |
| Deferred charges and accrued income | 490/1 | €57,199 | €68,617 | +€11,419 | +20.0% |
| Total equity and liabilities | 10/49 | €35,692,720 | €68,302,856 | +€32.6m | +91.4% |
| Equity | 10/15 | €16,617,356 | €43,057,467 | +€26.4m | +159.1% |
| Contributions | 10/11 | €12,724,651 | €13,520,561 | +€795,910 | +6.3% |
| Capital | 10 | €4,162,839 | €4,958,749 | +€795,910 | +19.1% |
| Issued capital | 100 | €4,162,839 | €4,958,749 | +€795,910 | +19.1% |
| Outside capital | 11 | €8,561,812 | €8,561,812 | = | 0.0% |
| Share premium | 1100/10 | €8,561,812 | €8,561,812 | = | 0.0% |
| Revaluation surpluses | 12 | - | €24,848,058 | +€24.8m | |
| Reserves | 13 | €3,892,704 | €4,688,847 | +€796,143 | +20.5% |
| Non-distributable reserves | 130/1 | €416,284 | €495,875 | +€79,591 | +19.1% |
| Legal reserve | 130 | €416,284 | €495,875 | +€79,591 | +19.1% |
| Distributable reserves | 133 | €3,476,420 | €4,192,972 | +€716,552 | +20.6% |
| Amounts payable | 17/49 | €19,075,364 | €25,245,389 | +€6.2m | +32.3% |
| Amounts payable after more than one year | 17 | €16,030,175 | €21,240,811 | +€5.2m | +32.5% |
| Financial debts | 170/4 | €16,030,175 | €21,240,811 | +€5.2m | +32.5% |
| Credit institutions | 173 | €2,030,175 | €5,238,011 | +€3.2m | +158.0% |
| Other loans | 174 | €14,000,000 | €16,002,800 | +€2.0m | +14.3% |
| Amounts payable within one year | 42/48 | €2,225,160 | €2,986,759 | +€761,599 | +34.2% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €305,885 | +€205,885 | +205.9% |
| Trade debts | 44 | €328,465 | €234,082 | -€94,383 | -28.7% |
| Suppliers | 440/4 | €328,465 | €234,082 | -€94,383 | -28.7% |
| Taxes, remuneration and social security | 45 | €266,814 | €295,101 | +€28,286 | +10.6% |
| Taxes | 450/3 | €252,202 | €270,094 | +€17,892 | +7.1% |
| Remuneration and social security | 454/9 | €14,612 | €25,007 | +€10,395 | +71.1% |
| Other amounts payable | 47/48 | €1,529,881 | €2,151,692 | +€621,810 | +40.6% |
| Accrued charges and deferred income | 492/3 | €820,030 | €1,017,819 | +€197,789 | +24.1% |
| Operating income | 70/76A | €2,396,884 | €3,377,803 | +€980,919 | +40.9% |
| Turnover | 70 | €2,263,769 | €3,219,603 | +€955,833 | +42.2% |
| Other operating income | 74 | €133,114 | €158,200 | +€25,086 | +18.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €1,947,429 | €2,080,989 | +€133,560 | +6.9% |
| Goods for resale, raw materials and consumables | 60 | €51,725 | €83,838 | +€32,113 | +62.1% |
| Purchases | 600/8 | €51,725 | €83,838 | +€32,113 | +62.1% |
| Services and other goods | 61 | €1,236,305 | €1,237,966 | +€1,660 | +0.1% |
| Remuneration, social security and pensions | 62 | €120,097 | €226,649 | +€106,552 | +88.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €422,769 | €438,370 | +€15,601 | +3.7% |
| Other operating charges | 640/8 | €116,532 | €91,246 | -€25,286 | -21.7% |
| Non-recurring operating charges | 66A | - | €2,921 | +€2,921 | |
| Operating profit (loss) | 9901 | €449,455 | €1,296,814 | +€847,359 | +188.5% |
| Financial income | 75/76B | €45,860 | €742,710 | +€696,850 | +1519.5% |
| Recurring financial income | 75 | €45,860 | €18,070 | -€27,790 | -60.6% |
| Income from financial fixed assets | 750 | €37,000 | €972 | -€36,028 | -97.4% |
| Income from current assets | 751 | €8,860 | €0 | -€8,860 | -100.0% |
| Other financial income | 752/9 | €0 | €17,099 | +€17,099 | |
| Non-recurring financial income | 76B | €0 | €724,640 | +€724,640 | |
| Financial charges | 65/66B | €1,053,802 | €1,238,534 | +€184,732 | +17.5% |
| Recurring financial charges | 65 | €965,345 | €1,238,439 | +€273,094 | +28.3% |
| Debt charges | 650 | €965,338 | €1,238,026 | +€272,689 | +28.2% |
| Other financial charges | 652/9 | €7 | €413 | +€405 | +5589.8% |
| Non-recurring financial charges | 66B | €88,457 | €96 | -€88,362 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | -€558,487 | €800,989 | +€1.4m | |
| Income taxes | 67/77 | €178 | €1,289 | +€1,112 | +626.2% |
| Taxes | 670/3 | €178 | €1,289 | +€1,112 | +626.2% |
| Profit (loss) for the period | 9904 | -€558,664 | €799,700 | +€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€558,664 | €799,700 | +€1.4m |
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 7 October 2026 via checked.be.