AEDEX: 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.
AEDEX
Largest movements
- Tangible fixed assets -€15,394
down €15,394 (-41.2%), from €37,320 to €21,926
- Cash -€14,333
down €14,333 (-33.5%), from €42,838 to €28,504
mainly Net result for the year (-€25,353) and Tax, wage and social debts (-€4,119)
- Receivables within one year +€3,752
up €3,752 (+32.1%), from €11,703 to €15,455
of which Other amounts receivable: +€1,880
- Profit (loss) carried forward -€19,248
down €19,248 (-39.7%), from -€48,499 to -€67,747
- Other debts +€9,006
up €9,006 (+37.3%), from €24,154 to €33,160
- Reserves -€6,105
down €6,105 (-18.5%), from €33,021 to €26,915
of which Tax-exempt reserves: -€6,105
- Tax, wage and social debts -€4,119
down €4,119 (-100.0%), from €4,119 to €0
- Trade debts -€3,342
down €3,342 (-59.0%), from €5,667 to €2,325
- Gross operating margin -€10,226
down €10,226, from €1,090 to -€9,136
- Financial charges +€861
up €861 (+77.3%), from €1,113 to €1,975
- Taxes -€547
down €547 (-65.9%), from €830 to €283
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 | €91,860 | €65,885 | -€25,975 | -28.3% |
| Fixed assets | 21/28 | €37,320 | €21,926 | -€15,394 | -41.2% |
| Tangible fixed assets | 22/27 | €37,320 | €21,926 | -€15,394 | -41.2% |
| Land and buildings | 22 | €37,320 | €21,926 | -€15,394 | -41.2% |
| Current assets | 29/58 | €54,540 | €43,959 | -€10,581 | -19.4% |
| Amounts receivable within one year | 40/41 | €11,703 | €15,455 | +€3,752 | +32.1% |
| Trade receivables | 40 | €11,703 | €13,575 | +€1,873 | +16.0% |
| Other amounts receivable | 41 | - | €1,880 | +€1,880 | |
| Cash at bank and in hand | 54/58 | €42,838 | €28,504 | -€14,333 | -33.5% |
| Total equity and liabilities | 10/49 | €91,860 | €65,885 | -€25,975 | -28.3% |
| Equity | 10/15 | €46,521 | €21,169 | -€25,353 | -54.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €33,021 | €26,915 | -€6,105 | -18.5% |
| Non-distributable reserves | 130/1 | €4,239 | €4,239 | = | 0.0% |
| Legal reserve | 130 | €4,239 | €4,239 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,312 | €2,207 | -€6,105 | -73.5% |
| Distributable reserves | 133 | €20,470 | €20,470 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,499 | -€67,747 | -€19,248 | -39.7% |
| Provisions and deferred taxes | 16 | €4,280 | €1,136 | -€3,144 | -73.5% |
| Deferred taxes | 168 | €4,280 | €1,136 | -€3,144 | -73.5% |
| Amounts payable | 17/49 | €41,059 | €43,581 | +€2,522 | +6.1% |
| Amounts payable within one year | 42/48 | €33,941 | €35,485 | +€1,544 | +4.5% |
| Trade debts | 44 | €5,667 | €2,325 | -€3,342 | -59.0% |
| Suppliers | 440/4 | €5,667 | €2,325 | -€3,342 | -59.0% |
| Taxes, remuneration and social security | 45 | €4,119 | €0 | -€4,119 | -100.0% |
| Taxes | 450/3 | €4,119 | €0 | -€4,119 | -100.0% |
| Other amounts payable | 47/48 | €24,154 | €33,160 | +€9,006 | +37.3% |
| Accrued charges and deferred income | 492/3 | €7,118 | €8,095 | +€978 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,867 | €10,867 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,848 | €1,905 | +€56 | +3.1% |
| Non-recurring operating charges | 66A | - | €4,527 | +€4,527 | |
| Gross operating margin | 9900 | €1,090 | -€9,136 | -€10,226 | |
| Operating profit (loss) | 9901 | -€11,625 | -€26,434 | -€14,809 | -127.4% |
| Financial income | 75/76B | €169 | €195 | +€25 | +14.9% |
| Recurring financial income | 75 | €169 | €195 | +€25 | +14.9% |
| Financial charges | 65/66B | €1,113 | €1,975 | +€861 | +77.3% |
| Recurring financial charges | 65 | €1,113 | €1,975 | +€861 | +77.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,569 | -€28,214 | -€15,645 | -124.5% |
| Transfer from deferred taxes | 780 | €3,144 | €3,144 | = | 0.0% |
| Income taxes | 67/77 | €830 | €283 | -€547 | -65.9% |
| Profit (loss) for the period | 9904 | -€10,254 | -€25,353 | -€15,099 | -147.2% |
| Transfer from tax-exempt reserves | 789 | €6,105 | €6,105 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,149 | -€19,248 | -€15,099 | -363.9% |
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 10 October 2026 via checked.be.