AEC-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.
AEC-PROJECTS
Largest movements
- Tangible fixed assets +€77,317
up €77,317 (+39.8%), from €194,465 to €271,782
of which Land and buildings: +€90,440
- Receivables within one year -€33,610
down €33,610 (-48.2%), from €69,676 to €36,066
of which Other amounts receivable: -€21,121
- Revaluation surpluses +€100,000
new in 2026: €100,000
- Debts after one year -€24,656
down €24,656 (-16.5%), from €149,053 to €124,397
- Trade debts -€8,558
down €8,558 (-39.6%), from €21,612 to €13,054
- Tax, wage and social debts -€7,950
down €7,950 (-50.5%), from €15,739 to €7,789
- Reserves -€7,451
down €7,451 (-59.4%), from €12,543 to €5,092
- Gross operating margin -€16,792
down €16,792 (-36.2%), from €46,379 to €29,587
- Financial charges -€6,176
down €6,176 (-43.3%), from €14,260 to €8,084
of which Non-recurring financial charges: -€6,630
- Taxes -€2,117
down €2,117 (-28.9%), from €7,329 to €5,211
From the 2025 result to the 2026 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €264,351 | €308,052 | +€43,701 | +16.5% |
| Fixed assets | 21/28 | €194,465 | €271,782 | +€77,317 | +39.8% |
| Tangible fixed assets | 22/27 | €194,465 | €271,782 | +€77,317 | +39.8% |
| Land and buildings | 22 | €176,091 | €266,531 | +€90,440 | +51.4% |
| Plant, machinery and equipment | 23 | €2,442 | €1,941 | -€501 | -20.5% |
| Furniture and vehicles | 24 | €15,932 | €3,310 | -€12,622 | -79.2% |
| Current assets | 29/58 | €69,886 | €36,269 | -€33,616 | -48.1% |
| Amounts receivable within one year | 40/41 | €69,676 | €36,066 | -€33,610 | -48.2% |
| Trade receivables | 40 | €18,809 | €6,321 | -€12,488 | -66.4% |
| Other amounts receivable | 41 | €50,867 | €29,745 | -€21,121 | -41.5% |
| Deferred charges and accrued income | 490/1 | €210 | €204 | -€6 | -3.1% |
| Total equity and liabilities | 10/49 | €264,351 | €308,052 | +€43,701 | +16.5% |
| Equity | 10/15 | €32,543 | €125,092 | +€92,549 | +284% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €100,000 | +€100,000 | |
| Reserves | 13 | €12,543 | €5,092 | -€7,451 | -59.4% |
| Distributable reserves | 133 | €12,543 | €5,092 | -€7,451 | -59.4% |
| Amounts payable | 17/49 | €231,808 | €182,960 | -€48,848 | -21.1% |
| Amounts payable after more than one year | 17 | €149,053 | €124,397 | -€24,656 | -16.5% |
| Financial debts | 170/4 | €149,053 | €124,397 | -€24,656 | -16.5% |
| Amounts payable within one year | 42/48 | €82,556 | €58,414 | -€24,142 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €23,823 | €24,656 | +€833 | +3.5% |
| Financial debts | 43 | €9,457 | €6,618 | -€2,839 | -30.0% |
| Credit institutions | 430/8 | €9,457 | €6,618 | -€2,839 | -30.0% |
| Trade debts | 44 | €21,612 | €13,054 | -€8,558 | -39.6% |
| Suppliers | 440/4 | €21,612 | €13,054 | -€8,558 | -39.6% |
| Taxes, remuneration and social security | 45 | €15,739 | €7,789 | -€7,950 | -50.5% |
| Taxes | 450/3 | €15,739 | €7,789 | -€7,950 | -50.5% |
| Other amounts payable | 47/48 | €11,924 | €6,297 | -€5,627 | -47.2% |
| Accrued charges and deferred income | 492/3 | €199 | €148 | -€51 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,787 | €22,683 | -€104 | -0.5% |
| Other operating charges | 640/8 | €2,232 | €2,031 | -€201 | -9.0% |
| Gross operating margin | 9900 | €46,379 | €29,587 | -€16,792 | -36.2% |
| Operating profit (loss) | 9901 | €21,359 | €4,873 | -€16,486 | -77.2% |
| Financial income | 75/76B | €1,061 | €971 | -€89 | -8.4% |
| Recurring financial income | 75 | €1,061 | €971 | -€89 | -8.4% |
| Financial charges | 65/66B | €14,260 | €8,084 | -€6,176 | -43.3% |
| Recurring financial charges | 65 | €7,630 | €8,084 | +€454 | +5.9% |
| Non-recurring financial charges | 66B | €6,630 | - | -€6,630 | |
| Profit (loss) for the period before taxes | 9903 | €8,159 | -€2,240 | -€10,399 | |
| Income taxes | 67/77 | €7,329 | €5,211 | -€2,117 | -28.9% |
| Profit (loss) for the period | 9904 | €831 | -€7,451 | -€8,282 | |
| Profit (loss) for the period to be appropriated | 9905 | €831 | -€7,451 | -€8,282 |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.