AED LEASE: 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.
AED LEASE
Largest movements
- Receivables within one year +€1.7m
up €1.7m (+106%), from €1.6m to €3.2m
of which Other amounts receivable: +€1.3m
- Tangible fixed assets -€781,826
down €781,826 (-44.3%), from €1.8m to €982,361
of which Leasing and similar rights: -€765,068
- Cash -€219,599
down €219,599 (-34.8%), from €630,737 to €411,138
mainly Receivables within one year (-€1.7m) and Current portion of long-term debt (-€301,133)
- Receivables after one year +€72,414
new in 2025: €72,414
- Profit (loss) carried forward +€721,753
no longer reported in 2025 (was -€721,753)
- Trade debts +€321,247
up €321,247 (+268%), from €119,855 to €441,102
- Current portion of long-term debt -€301,133
down €301,133 (-72.7%), from €414,379 to €113,246
- Reserves +€172,398
up €172,398 (+188%), from €91,944 to €264,342
of which Distributable reserves: +€163,778
- Accrued charges and deferred income -€111,335
down €111,335 (-47.0%), from €236,893 to €125,558
- Depreciation -€1.2m
down €1.2m (-61.1%), from €2.0m to €765,410
- Turnover -€909,501
down €909,501 (-30.9%), from €2.9m to €2.0m
- Goods and materials +€560,793
up €560,793 (+94.4%), from €594,283 to €1.2m
of which Purchases: +€620,953
- Write-downs -€426,056
down €426,056 (-50.7%), from -€839,787 to -€1.3m
- Services and other goods -€84,048
down €84,048 (-20.6%), from €407,562 to €323,514
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 | €3,984,573 | €4,720,626 | +€736,053 | +18.5% |
| Fixed assets | 21/28 | €1,764,188 | €982,361 | -€781,826 | -44.3% |
| Tangible fixed assets | 22/27 | €1,764,188 | €982,361 | -€781,826 | -44.3% |
| Furniture and vehicles | 24 | €1,551 | - | -€1,551 | |
| Leasing and similar rights | 25 | €1,491,975 | €726,907 | -€765,068 | -51.3% |
| Other tangible fixed assets | 26 | €270,662 | €255,454 | -€15,208 | -5.6% |
| Current assets | 29/58 | €2,220,386 | €3,738,265 | +€1.5m | +68.4% |
| Amounts receivable after more than one year | 29 | - | €72,414 | +€72,414 | |
| Trade receivables | 290 | - | €72,414 | +€72,414 | |
| Stocks and contracts in progress | 3 | €6,691 | €6,912 | +€221 | +3.3% |
| Stocks | 30/36 | €6,691 | €6,912 | +€221 | +3.3% |
| Goods purchased for resale | 34 | €6,691 | €6,912 | +€221 | +3.3% |
| Amounts receivable within one year | 40/41 | €1,578,953 | €3,245,711 | +€1.7m | +106% |
| Trade receivables | 40 | €506,807 | €895,239 | +€388,432 | +76.6% |
| Other amounts receivable | 41 | €1,072,145 | €2,350,471 | +€1.3m | +119% |
| Cash at bank and in hand | 54/58 | €630,737 | €411,138 | -€219,599 | -34.8% |
| Deferred charges and accrued income | 490/1 | €4,004 | €2,090 | -€1,915 | -47.8% |
| Total equity and liabilities | 10/49 | €3,984,573 | €4,720,626 | +€736,053 | +18.5% |
| Equity | 10/15 | €3,120,671 | €4,014,822 | +€894,151 | +28.7% |
| Contributions | 10/11 | €3,750,480 | €3,750,480 | = | 0.0% |
| Capital | 10 | €3,750,480 | €3,750,480 | = | 0.0% |
| Issued capital | 100 | €3,801,400 | €3,801,400 | = | 0.0% |
| Uncalled capital | 101 | €50,920 | €50,920 | = | 0.0% |
| Reserves | 13 | €91,944 | €264,342 | +€172,398 | +188% |
| Non-distributable reserves | 130/1 | €91,944 | €100,564 | +€8,620 | +9.4% |
| Legal reserve | 130 | €91,944 | €100,564 | +€8,620 | +9.4% |
| Distributable reserves | 133 | - | €163,778 | +€163,778 | |
| Profit (loss) carried forward | 14 | -€721,753 | - | +€721,753 | |
| Amounts payable | 17/49 | €863,902 | €705,804 | -€158,099 | -18.3% |
| Amounts payable after more than one year | 17 | €75,043 | €14,248 | -€60,795 | -81.0% |
| Financial debts | 170/4 | €75,043 | €14,248 | -€60,795 | -81.0% |
| Leasing and similar obligations | 172 | €75,043 | €14,248 | -€60,795 | -81.0% |
| Amounts payable within one year | 42/48 | €551,967 | €565,998 | +€14,031 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €414,379 | €113,246 | -€301,133 | -72.7% |
| Financial debts | 43 | €4,061 | - | -€4,061 | |
| Credit institutions | 430/8 | €4,061 | - | -€4,061 | |
| Trade debts | 44 | €119,855 | €441,102 | +€321,247 | +268% |
| Suppliers | 440/4 | €119,855 | €441,102 | +€321,247 | +268% |
| Taxes, remuneration and social security | 45 | €13,671 | €11,649 | -€2,022 | -14.8% |
| Taxes | 450/3 | €687 | €175 | -€512 | -74.5% |
| Remuneration and social security | 454/9 | €12,984 | €11,474 | -€1,510 | -11.6% |
| Accrued charges and deferred income | 492/3 | €236,893 | €125,558 | -€111,335 | -47.0% |
| Operating income | 70/76A | €3,001,984 | €2,082,625 | -€919,359 | -30.6% |
| Turnover | 70 | €2,947,620 | €2,038,120 | -€909,501 | -30.9% |
| Other operating income | 74 | €54,363 | €44,505 | -€9,858 | -18.1% |
| Operating charges | 60/66A | €2,300,961 | €1,174,409 | -€1.1m | -49.0% |
| Goods for resale, raw materials and consumables | 60 | €594,283 | €1,155,075 | +€560,793 | +94.4% |
| Purchases | 600/8 | €531,424 | €1,152,377 | +€620,953 | +117% |
| Change in stocks: decrease (increase) | 609 | €62,858 | €2,699 | -€60,160 | -95.7% |
| Services and other goods | 61 | €407,562 | €323,514 | -€84,048 | -20.6% |
| Remuneration, social security and pensions | 62 | €97,888 | €100,029 | +€2,141 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,965,421 | €765,410 | -€1.2m | -61.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€839,787 | -€1,265,843 | -€426,056 | -50.7% |
| Other operating charges | 640/8 | €75,595 | €96,224 | +€20,630 | +27.3% |
| Operating profit (loss) | 9901 | €701,022 | €908,216 | +€207,194 | +29.6% |
| Financial income | 75/76B | €28,948 | €43,043 | +€14,095 | +48.7% |
| Recurring financial income | 75 | €28,948 | €43,043 | +€14,095 | +48.7% |
| Other financial income | 752/9 | €28,948 | €43,043 | +€14,095 | +48.7% |
| Financial charges | 65/66B | €26,857 | €56,932 | +€30,074 | +112% |
| Recurring financial charges | 65 | €26,857 | €56,932 | +€30,074 | +112% |
| Debt charges | 650 | €19,235 | €3,828 | -€15,406 | -80.1% |
| Other financial charges | 652/9 | €7,623 | €53,103 | +€45,481 | +597% |
| Profit (loss) for the period before taxes | 9903 | €703,113 | €894,328 | +€191,214 | +27.2% |
| Income taxes | 67/77 | €188 | €176 | -€12 | -6.2% |
| Taxes | 670/3 | €188 | €176 | -€12 | -6.2% |
| Profit (loss) for the period | 9904 | €702,926 | €894,151 | +€191,226 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €702,926 | €894,151 | +€191,226 | +27.2% |
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 14 October 2026 via checked.be.