AE Projects: 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.
AE Projects
Largest movements
- Receivables within one year -€712,330
down €712,330 (-68.8%), from €1.0m to €322,481
of which Other amounts receivable: -€844,956
- Cash +€184,582
up €184,582 (+10.8%), from €1.7m to €1.9m
mainly Receivables within one year (+€712,330) and Net result for the year (+€283,795)
- Deferred charges and accrued income -€35,182
down €35,182 (-96.3%), from €36,521 to €1,340
- Profit (loss) carried forward -€516,205
down €516,205 (-42.1%), from €1.2m to €709,632
- Trade debts -€121,706
down €121,706 (-9.0%), from €1.4m to €1.2m
- Tax, wage and social debts +€55,088
up €55,088 (+597%), from €9,229 to €64,318
of which Taxes: +€54,655
- Gross operating margin +€220,330
up €220,330 (+121%), from €182,479 to €402,809
- Taxes +€54,695
up €54,695 (+124%), from €44,221 to €98,916
- Financial income -€8,414
down €8,414 (-23.1%), from €36,495 to €28,081
- Staff costs +€5,492
up €5,492 (+13.6%), from €40,263 to €45,755
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 | €2,777,848 | €2,214,046 | -€563,802 | -20.3% |
| Fixed assets | 21/28 | €886 | €14 | -€872 | -98.4% |
| Tangible fixed assets | 22/27 | €886 | €14 | -€872 | -98.4% |
| Plant, machinery and equipment | 23 | €886 | €14 | -€872 | -98.4% |
| Current assets | 29/58 | €2,776,962 | €2,214,032 | -€562,930 | -20.3% |
| Amounts receivable within one year | 40/41 | €1,034,811 | €322,481 | -€712,330 | -68.8% |
| Trade receivables | 40 | €188,735 | €321,361 | +€132,626 | +70.3% |
| Other amounts receivable | 41 | €846,076 | €1,120 | -€844,956 | -99.9% |
| Cash at bank and in hand | 54/58 | €1,705,630 | €1,890,212 | +€184,582 | +10.8% |
| Deferred charges and accrued income | 490/1 | €36,521 | €1,340 | -€35,182 | -96.3% |
| Total equity and liabilities | 10/49 | €2,777,848 | €2,214,046 | -€563,802 | -20.3% |
| Equity | 10/15 | €1,324,843 | €808,638 | -€516,205 | -39.0% |
| Contributions | 10/11 | €90,005 | €90,005 | = | 0.0% |
| Reserves | 13 | €9,001 | €9,001 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,001 | €9,001 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,001 | €9,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,225,837 | €709,632 | -€516,205 | -42.1% |
| Amounts payable | 17/49 | €1,453,005 | €1,405,408 | -€47,597 | -3.3% |
| Amounts payable after more than one year | 17 | €90,000 | €94,020 | +€4,020 | +4.5% |
| Other amounts payable | 178/9 | €90,000 | €94,020 | +€4,020 | +4.5% |
| Amounts payable within one year | 42/48 | €1,363,005 | €1,311,388 | -€51,617 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | - | €15,000 | +€15,000 | |
| Trade debts | 44 | €1,353,775 | €1,232,070 | -€121,706 | -9.0% |
| Suppliers | 440/4 | €1,353,775 | €1,232,070 | -€121,706 | -9.0% |
| Taxes, remuneration and social security | 45 | €9,229 | €64,318 | +€55,088 | +597% |
| Taxes | 450/3 | €4,221 | €58,877 | +€54,655 | +1,295% |
| Remuneration and social security | 454/9 | €5,008 | €5,441 | +€433 | +8.6% |
| Remuneration, social security and pensions | 62 | €40,263 | €45,755 | +€5,492 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,904 | €872 | -€1,032 | -54.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €182,479 | €402,809 | +€220,330 | +121% |
| Operating profit (loss) | 9901 | €139,345 | €355,184 | +€215,839 | +155% |
| Financial income | 75/76B | €36,495 | €28,081 | -€8,414 | -23.1% |
| Recurring financial income | 75 | €36,495 | €28,081 | -€8,414 | -23.1% |
| Financial charges | 65/66B | €324 | €553 | +€229 | +70.8% |
| Recurring financial charges | 65 | €324 | €553 | +€229 | +70.8% |
| Profit (loss) for the period before taxes | 9903 | €175,515 | €382,711 | +€207,196 | +118% |
| Income taxes | 67/77 | €44,221 | €98,916 | +€54,695 | +124% |
| Profit (loss) for the period | 9904 | €131,294 | €283,795 | +€152,501 | +116% |
| Profit (loss) for the period to be appropriated | 9905 | €131,294 | €283,795 | +€152,501 | +116% |
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 27 October 2026 via checked.be.