AEB: 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.
AEB
Largest movements
- Cash +€31,027
up €31,027 (+50.1%), from €61,938 to €92,965
mainly Depreciation (+€25,916) and Other debts (+€19,920)
- Stocks and contracts -€6,129
down €6,129 (-64.7%), from €9,479 to €3,350
- Receivables within one year -€4,050
down €4,050 (-15.8%), from €25,565 to €21,515
of which Trade receivables: -€2,963
- Tangible fixed assets +€3,978
up €3,978 (+3.1%), from €128,042 to €132,020
of which Furniture and vehicles: +€13,420
- Other debts +€19,920
up €19,920 (+45.3%), from €43,962 to €63,882
- Reserves -€9,305
down €9,305 (-16.0%), from €58,218 to €48,912
- Trade debts +€6,960
up €6,960 (+396.3%), from €1,756 to €8,716
- Current portion of long-term debt +€6,135
up €6,135 (+30.3%), from €20,278 to €26,413
- Gross operating margin +€27,478
up €27,478 (+109.4%), from €25,107 to €52,585
- Taxes +€3,171
up €3,171 (+2064.7%), from €154 to €3,325
- Depreciation +€683
up €683 (+2.7%), from €25,233 to €25,916
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 | €228,575 | €255,126 | +€26,552 | +11.6% |
| Fixed assets | 21/28 | €129,032 | €133,010 | +€3,978 | +3.1% |
| Tangible fixed assets | 22/27 | €128,042 | €132,020 | +€3,978 | +3.1% |
| Land and buildings | 22 | €91,968 | €83,310 | -€8,659 | -9.4% |
| Plant, machinery and equipment | 23 | €1,638 | €855 | -€784 | -47.8% |
| Furniture and vehicles | 24 | €34,436 | €47,855 | +€13,420 | +39.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €990 | €990 | = | 0.0% |
| Current assets | 29/58 | €99,542 | €122,116 | +€22,574 | +22.7% |
| Stocks and contracts in progress | 3 | €9,479 | €3,350 | -€6,129 | -64.7% |
| Stocks | 30/36 | €9,479 | €3,350 | -€6,129 | -64.7% |
| Amounts receivable within one year | 40/41 | €25,565 | €21,515 | -€4,050 | -15.8% |
| Trade receivables | 40 | €18,197 | €15,234 | -€2,963 | -16.3% |
| Other amounts receivable | 41 | €7,369 | €6,281 | -€1,088 | -14.8% |
| Cash at bank and in hand | 54/58 | €61,938 | €92,965 | +€31,027 | +50.1% |
| Deferred charges and accrued income | 490/1 | €2,560 | €4,286 | +€1,726 | +67.4% |
| Total equity and liabilities | 10/49 | €228,575 | €255,126 | +€26,552 | +11.6% |
| Equity | 10/15 | €76,818 | €67,512 | -€9,305 | -12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,218 | €48,912 | -€9,305 | -16.0% |
| Distributable reserves | 133 | €58,218 | €48,912 | -€9,305 | -16.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €151,757 | €187,614 | +€35,857 | +23.6% |
| Amounts payable after more than one year | 17 | €79,945 | €80,730 | +€785 | +1.0% |
| Financial debts | 170/4 | €79,945 | €80,730 | +€785 | +1.0% |
| Amounts payable within one year | 42/48 | €68,412 | €103,738 | +€35,325 | +51.6% |
| Current portion of amounts payable after more than one year | 42 | €20,278 | €26,413 | +€6,135 | +30.3% |
| Trade debts | 44 | €1,756 | €8,716 | +€6,960 | +396.3% |
| Suppliers | 440/4 | €1,756 | €8,716 | +€6,960 | +396.3% |
| Taxes, remuneration and social security | 45 | €2,417 | €4,727 | +€2,311 | +95.6% |
| Taxes | 450/3 | €1,963 | €3,127 | +€1,164 | +59.3% |
| Remuneration and social security | 454/9 | €453 | €1,600 | +€1,147 | +253.0% |
| Other amounts payable | 47/48 | €43,962 | €63,882 | +€19,920 | +45.3% |
| Accrued charges and deferred income | 492/3 | €3,400 | €3,147 | -€254 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,233 | €25,916 | +€683 | +2.7% |
| Other operating charges | 640/8 | €2,781 | €2,680 | -€102 | -3.7% |
| Non-recurring operating charges | 66A | - | €1,123 | +€1,123 | |
| Gross operating margin | 9900 | €25,107 | €52,585 | +€27,478 | +109.4% |
| Operating profit (loss) | 9901 | -€2,908 | €22,866 | +€25,774 | |
| Financial income | 75/76B | €69 | €142 | +€73 | +106.7% |
| Recurring financial income | 75 | €69 | €142 | +€73 | +106.7% |
| Financial charges | 65/66B | €6,053 | €5,564 | -€490 | -8.1% |
| Recurring financial charges | 65 | €6,053 | €5,564 | -€490 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,892 | €17,445 | +€26,337 | |
| Income taxes | 67/77 | €154 | €3,325 | +€3,171 | +2064.7% |
| Profit (loss) for the period | 9904 | -€9,046 | €14,120 | +€23,166 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,046 | €14,120 | +€23,166 |
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 1 October 2026 via checked.be.