Aeco: 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.
Aeco
Largest movements
- Intangible fixed assets +€345,953
up €345,953 (+124.1%), from €278,758 to €624,711
- Cash -€149,522
down €149,522 (-69.1%), from €216,427 to €66,905
mainly Investment in fixed assets (net) (-€444,197) and Net result for the year (-€123,913)
- Other debts +€242,788
up €242,788 (+1213.9%), from €20,000 to €262,788
- Profit (loss) carried forward -€123,913
down €123,913 (-22.0%), from -€564,142 to -€688,055
- Trade debts +€65,176
up €65,176 (+226.3%), from €28,803 to €93,979
- Accrued charges and deferred income +€8,000
new in 2025: €8,000
- Gross operating margin +€196,523
up €196,523, from -€10,071 to €186,453
- Depreciation +€70,224
up €70,224 (+238.3%), from €29,472 to €99,697
- Staff costs +€26,209
up €26,209 (+14.6%), from €178,911 to €205,121
- Financial charges +€2,735
up €2,735 (+162.1%), from €1,687 to €4,423
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 | €535,426 | €733,699 | +€198,273 | +37.0% |
| Fixed assets | 21/28 | €286,437 | €630,937 | +€344,500 | +120.3% |
| Intangible fixed assets | 21 | €278,758 | €624,711 | +€345,953 | +124.1% |
| Tangible fixed assets | 22/27 | €1,679 | €226 | -€1,453 | -86.5% |
| Plant, machinery and equipment | 23 | €730 | €226 | -€504 | -69.0% |
| Furniture and vehicles | 24 | €949 | €0 | -€949 | -100.0% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €248,989 | €102,762 | -€146,227 | -58.7% |
| Amounts receivable within one year | 40/41 | €32,259 | €34,906 | +€2,647 | +8.2% |
| Trade receivables | 40 | €19,644 | €13,621 | -€6,023 | -30.7% |
| Other amounts receivable | 41 | €12,615 | €21,285 | +€8,670 | +68.7% |
| Cash at bank and in hand | 54/58 | €216,427 | €66,905 | -€149,522 | -69.1% |
| Deferred charges and accrued income | 490/1 | €303 | €951 | +€648 | +214.3% |
| Total equity and liabilities | 10/49 | €535,426 | €733,699 | +€198,273 | +37.0% |
| Equity | 10/15 | €466,858 | €342,945 | -€123,913 | -26.5% |
| Contributions | 10/11 | €1,031,000 | €1,031,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€564,142 | -€688,055 | -€123,913 | -22.0% |
| Amounts payable | 17/49 | €68,568 | €390,754 | +€322,186 | +469.9% |
| Amounts payable within one year | 42/48 | €68,568 | €382,754 | +€314,186 | +458.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €28,803 | €93,979 | +€65,176 | +226.3% |
| Suppliers | 440/4 | €28,803 | €93,979 | +€65,176 | +226.3% |
| Taxes, remuneration and social security | 45 | €19,766 | €25,987 | +€6,221 | +31.5% |
| Taxes | 450/3 | €117 | €176 | +€59 | +50.6% |
| Remuneration and social security | 454/9 | €19,649 | €25,811 | +€6,162 | +31.4% |
| Other amounts payable | 47/48 | €20,000 | €262,788 | +€242,788 | +1213.9% |
| Accrued charges and deferred income | 492/3 | - | €8,000 | +€8,000 | |
| Remuneration, social security and pensions | 62 | €178,911 | €205,121 | +€26,209 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,472 | €99,697 | +€70,224 | +238.3% |
| Other operating charges | 640/8 | €0 | - | = | |
| Non-recurring operating charges | 66A | - | €949 | +€949 | |
| Gross operating margin | 9900 | -€10,071 | €186,453 | +€196,523 | |
| Operating profit (loss) | 9901 | -€218,455 | -€119,314 | +€99,141 | +45.4% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | €1,687 | €4,423 | +€2,735 | +162.1% |
| Recurring financial charges | 65 | €1,687 | €4,423 | +€2,735 | +162.1% |
| Profit (loss) for the period before taxes | 9903 | -€220,137 | -€123,737 | +€96,400 | +43.8% |
| Income taxes | 67/77 | €117 | €176 | +€59 | +50.6% |
| Profit (loss) for the period | 9904 | -€220,254 | -€123,913 | +€96,341 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€220,254 | -€123,913 | +€96,341 | +43.7% |
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 6 October 2026 via checked.be.