AEC Invest: what changed
AEC Invest
Largest movements
- Tangible fixed assets -€65,474
down €65,474 (-4.6%), from €1.4m to €1.4m
of which Land and buildings: -€46,723
- Receivables within one year -€46,175
down €46,175 (-98.6%), from €46,854 to €679
of which Other amounts receivable: -€46,199
- Profit (loss) carried forward -€86,106
down €86,106 (-26.4%), from €325,804 to €239,698
- Debts after one year -€81,504
down €81,504 (-8.6%), from €946,301 to €864,796
- Current portion of long-term debt +€37,688
up €37,688 (+232%), from €16,219 to €53,907
- Other debts +€18,828
up €18,828 (+10.7%), from €175,816 to €194,643
- Other operating charges -€104,637
down €104,637 (-93.9%), from €111,418 to €6,781
- Gross operating margin -€47,579
down €47,579 (-63.6%), from €74,759 to €27,180
- Financial charges +€31,091
up €31,091 (+321%), from €9,674 to €40,764
- Depreciation +€20,575
up €20,575 (+45.8%), from €44,899 to €65,474
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,480,477 | €1,369,152 | -€111,325 | -7.5% |
| Fixed assets | 21/28 | €1,430,361 | €1,364,887 | -€65,474 | -4.6% |
| Tangible fixed assets | 22/27 | €1,430,361 | €1,364,887 | -€65,474 | -4.6% |
| Land and buildings | 22 | €1,347,983 | €1,301,260 | -€46,723 | -3.5% |
| Furniture and vehicles | 24 | €50,239 | €35,186 | -€15,053 | -30.0% |
| Other tangible fixed assets | 26 | €32,138 | €28,440 | -€3,698 | -11.5% |
| Current assets | 29/58 | €50,116 | €4,265 | -€45,851 | -91.5% |
| Amounts receivable within one year | 40/41 | €46,854 | €679 | -€46,175 | -98.6% |
| Trade receivables | 40 | €0 | €25 | +€25 | |
| Other amounts receivable | 41 | €46,854 | €654 | -€46,199 | -98.6% |
| Cash at bank and in hand | 54/58 | €494 | €3,401 | +€2,907 | +589% |
| Deferred charges and accrued income | 490/1 | €2,769 | €185 | -€2,583 | -93.3% |
| Total equity and liabilities | 10/49 | €1,480,477 | €1,369,152 | -€111,325 | -7.5% |
| Equity | 10/15 | €340,804 | €254,698 | -€86,106 | -25.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €325,804 | €239,698 | -€86,106 | -26.4% |
| Amounts payable | 17/49 | €1,139,673 | €1,114,454 | -€25,219 | -2.2% |
| Amounts payable after more than one year | 17 | €946,301 | €864,796 | -€81,504 | -8.6% |
| Financial debts | 170/4 | €946,301 | €864,796 | -€81,504 | -8.6% |
| Amounts payable within one year | 42/48 | €193,372 | €249,658 | +€56,285 | +29.1% |
| Current portion of amounts payable after more than one year | 42 | €16,219 | €53,907 | +€37,688 | +232% |
| Trade debts | 44 | €808 | €462 | -€346 | -42.9% |
| Suppliers | 440/4 | €808 | €462 | -€346 | -42.9% |
| Taxes, remuneration and social security | 45 | €529 | €646 | +€116 | +22.0% |
| Taxes | 450/3 | €379 | €646 | +€266 | +70.2% |
| Remuneration and social security | 454/9 | €150 | €0 | -€150 | -100% |
| Other amounts payable | 47/48 | €175,816 | €194,643 | +€18,828 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,899 | €65,474 | +€20,575 | +45.8% |
| Other operating charges | 640/8 | €111,418 | €6,781 | -€104,637 | -93.9% |
| Gross operating margin | 9900 | €74,759 | €27,180 | -€47,579 | -63.6% |
| Operating profit (loss) | 9901 | -€81,559 | -€45,075 | +€36,483 | +44.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €9,674 | €40,764 | +€31,091 | +321% |
| Recurring financial charges | 65 | €9,674 | €40,764 | +€31,091 | +321% |
| Profit (loss) for the period before taxes | 9903 | -€91,232 | -€85,840 | +€5,393 | +5.9% |
| Income taxes | 67/77 | -€355 | €266 | +€621 | |
| Profit (loss) for the period | 9904 | -€90,877 | -€86,106 | +€4,771 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,877 | -€86,106 | +€4,771 | +5.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.