AE SYSTEMS: 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 SYSTEMS
Largest movements
- Stocks and contracts +€29,874
up €29,874 (+10.8%), from €277,625 to €307,499
- Receivables within one year -€29,494
down €29,494 (-11.6%), from €254,547 to €225,053
of which Trade receivables: -€45,204
- Tangible fixed assets -€14,779
down €14,779 (-30.7%), from €48,071 to €33,293
of which Furniture and vehicles: -€8,543
- Intangible fixed assets +€10,191
new in 2025: €10,191
- Provisions +€85,870
new in 2025: €85,870
- Reserves -€55,659
down €55,659 (-29.9%), from €186,121 to €130,461
of which Distributable reserves: -€55,659
- Short-term financial debts -€35,000
down €35,000 (-50.0%), from €70,000 to €35,000
- Current portion of long-term debt -€13,412
down €13,412 (-32.4%), from €41,385 to €27,973
- Debts after one year +€12,086
up €12,086 (+83.0%), from €14,568 to €26,654
- Provisions +€85,870
new in 2025: €85,870
- Staff costs +€33,764
up €33,764 (+12.1%), from €278,089 to €311,854
- Taxes -€5,127
down €5,127 (-29.7%), from €17,233 to €12,107
- Depreciation -€4,978
down €4,978 (-31.8%), from €15,652 to €10,674
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 | €615,523 | €615,646 | +€123 | 0.0% |
| Fixed assets | 21/28 | €48,696 | €44,109 | -€4,588 | -9.4% |
| Intangible fixed assets | 21 | - | €10,191 | +€10,191 | |
| Tangible fixed assets | 22/27 | €48,071 | €33,293 | -€14,779 | -30.7% |
| Plant, machinery and equipment | 23 | €29,323 | €23,087 | -€6,236 | -21.3% |
| Furniture and vehicles | 24 | €18,748 | €10,205 | -€8,543 | -45.6% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €566,826 | €571,537 | +€4,711 | +0.8% |
| Stocks and contracts in progress | 3 | €277,625 | €307,499 | +€29,874 | +10.8% |
| Stocks | 30/36 | €277,625 | €307,499 | +€29,874 | +10.8% |
| Amounts receivable within one year | 40/41 | €254,547 | €225,053 | -€29,494 | -11.6% |
| Trade receivables | 40 | €244,500 | €199,297 | -€45,204 | -18.5% |
| Other amounts receivable | 41 | €10,047 | €25,756 | +€15,710 | +156% |
| Cash at bank and in hand | 54/58 | €23,329 | €23,023 | -€305 | -1.3% |
| Deferred charges and accrued income | 490/1 | €11,325 | €15,962 | +€4,636 | +40.9% |
| Total equity and liabilities | 10/49 | €615,523 | €615,646 | +€123 | 0.0% |
| Equity | 10/15 | €205,121 | €149,461 | -€55,659 | -27.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €186,121 | €130,461 | -€55,659 | -29.9% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €8 | €8 | = | 0.0% |
| Distributable reserves | 133 | €184,213 | €128,553 | -€55,659 | -30.2% |
| Provisions and deferred taxes | 16 | - | €85,870 | +€85,870 | |
| Provisions for liabilities and charges | 160/5 | - | €85,870 | +€85,870 | |
| Pensions and similar obligations | 160 | - | €85,870 | +€85,870 | |
| Amounts payable | 17/49 | €410,402 | €380,315 | -€30,087 | -7.3% |
| Amounts payable after more than one year | 17 | €14,568 | €26,654 | +€12,086 | +83.0% |
| Financial debts | 170/4 | €14,568 | €26,654 | +€12,086 | +83.0% |
| Amounts payable within one year | 42/48 | €395,834 | €353,661 | -€42,173 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €41,385 | €27,973 | -€13,412 | -32.4% |
| Financial debts | 43 | €70,000 | €35,000 | -€35,000 | -50.0% |
| Credit institutions | 430/8 | €70,000 | €35,000 | -€35,000 | -50.0% |
| Trade debts | 44 | €220,606 | €225,248 | +€4,642 | +2.1% |
| Suppliers | 440/4 | €220,606 | €225,248 | +€4,642 | +2.1% |
| Taxes, remuneration and social security | 45 | €62,791 | €62,619 | -€171 | -0.3% |
| Taxes | 450/3 | €29,587 | €30,599 | +€1,012 | +3.4% |
| Remuneration and social security | 454/9 | €33,204 | €32,020 | -€1,184 | -3.6% |
| Other amounts payable | 47/48 | €1,052 | €2,821 | +€1,769 | +168% |
| Non-recurring operating income | 76A | - | €54 | +€54 | |
| Remuneration, social security and pensions | 62 | €278,089 | €311,854 | +€33,764 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,652 | €10,674 | -€4,978 | -31.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €85,870 | +€85,870 | |
| Other operating charges | 640/8 | €1,645 | €1,461 | -€185 | -11.2% |
| Gross operating margin | 9900 | €378,299 | €381,243 | +€2,945 | +0.8% |
| Operating profit (loss) | 9901 | €82,911 | -€28,615 | -€111,526 | |
| Financial income | 75/76B | €2,281 | €1,893 | -€388 | -17.0% |
| Recurring financial income | 75 | €2,281 | €1,893 | -€388 | -17.0% |
| Financial charges | 65/66B | €14,870 | €16,831 | +€1,961 | +13.2% |
| Recurring financial charges | 65 | €14,870 | €16,831 | +€1,961 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €70,322 | -€43,553 | -€113,875 | |
| Income taxes | 67/77 | €17,233 | €12,107 | -€5,127 | -29.7% |
| Profit (loss) for the period | 9904 | €53,089 | -€55,659 | -€108,748 | |
| Profit (loss) for the period to be appropriated | 9905 | €53,089 | -€55,659 | -€108,748 |
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 19 October 2026 via checked.be.