AEDIFICO: 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.
AEDIFICO
Largest movements
- Stocks and contracts +€69,415
up €69,415 (+10.5%), from €660,085 to €729,500
- Tangible fixed assets -€23,102
down €23,102 (-18.1%), from €127,296 to €104,194
of which Other tangible fixed assets: -€19,851
- Cash +€14,812
up €14,812 (+7.1%), from €209,904 to €224,716
mainly Net result for the year (+€158,396) and Depreciation (+€26,232)
- Reserves +€159,222
up €159,222 (+23.9%), from €665,750 to €824,972
of which Distributable reserves: +€159,222
- Trade debts -€78,186
down €78,186 (-34.9%), from €224,116 to €145,930
- Tax, wage and social debts -€15,931
down €15,931 (-23.8%), from €67,033 to €51,102
of which Taxes: -€9,325
- Gross operating margin -€61,673
down €61,673 (-10.8%), from €570,650 to €508,978
- Staff costs -€12,676
down €12,676 (-4.5%), from €280,666 to €267,990
- Taxes -€5,796
down €5,796 (-9.6%), from €60,587 to €54,792
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 | €1,047,924 | €1,110,477 | +€62,553 | +6.0% |
| Fixed assets | 21/28 | €127,296 | €104,194 | -€23,102 | -18.1% |
| Tangible fixed assets | 22/27 | €127,296 | €104,194 | -€23,102 | -18.1% |
| Plant, machinery and equipment | 23 | €3,539 | €4,994 | +€1,455 | +41.1% |
| Furniture and vehicles | 24 | €4,706 | - | -€4,706 | |
| Other tangible fixed assets | 26 | €119,051 | €99,199 | -€19,851 | -16.7% |
| Current assets | 29/58 | €920,628 | €1,006,283 | +€85,655 | +9.3% |
| Stocks and contracts in progress | 3 | €660,085 | €729,500 | +€69,415 | +10.5% |
| Stocks | 30/36 | €660,085 | €729,500 | +€69,415 | +10.5% |
| Amounts receivable within one year | 40/41 | €21,841 | €18,442 | -€3,399 | -15.6% |
| Trade receivables | 40 | €21,585 | €13,234 | -€8,351 | -38.7% |
| Other amounts receivable | 41 | €255 | €5,208 | +€4,953 | +1939.6% |
| Cash at bank and in hand | 54/58 | €209,904 | €224,716 | +€14,812 | +7.1% |
| Deferred charges and accrued income | 490/1 | €28,799 | €33,625 | +€4,826 | +16.8% |
| Total equity and liabilities | 10/49 | €1,047,924 | €1,110,477 | +€62,553 | +6.0% |
| Equity | 10/15 | €754,076 | €912,472 | +€158,396 | +21.0% |
| Contributions | 10/11 | €87,500 | €87,500 | = | 0.0% |
| Capital | 10 | €87,500 | €87,500 | = | 0.0% |
| Issued capital | 100 | €87,500 | €87,500 | = | 0.0% |
| Reserves | 13 | €665,750 | €824,972 | +€159,222 | +23.9% |
| Non-distributable reserves | 130/1 | €8,750 | €8,750 | = | 0.0% |
| Legal reserve | 130 | €8,750 | €8,750 | = | 0.0% |
| Distributable reserves | 133 | €657,000 | €816,222 | +€159,222 | +24.2% |
| Profit (loss) carried forward | 14 | €826 | - | -€826 | |
| Amounts payable | 17/49 | €293,848 | €198,005 | -€95,843 | -32.6% |
| Amounts payable within one year | 42/48 | €291,720 | €198,005 | -€93,715 | -32.1% |
| Trade debts | 44 | €224,116 | €145,930 | -€78,186 | -34.9% |
| Suppliers | 440/4 | €224,116 | €145,930 | -€78,186 | -34.9% |
| Taxes, remuneration and social security | 45 | €67,033 | €51,102 | -€15,931 | -23.8% |
| Taxes | 450/3 | €20,231 | €10,906 | -€9,325 | -46.1% |
| Remuneration and social security | 454/9 | €46,802 | €40,196 | -€6,606 | -14.1% |
| Other amounts payable | 47/48 | €571 | €973 | +€402 | +70.3% |
| Accrued charges and deferred income | 492/3 | €2,128 | - | -€2,128 | |
| Remuneration, social security and pensions | 62 | €280,666 | €267,990 | -€12,676 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,312 | €26,232 | -€80 | -0.3% |
| Other operating charges | 640/8 | €4,619 | €2,588 | -€2,031 | -44.0% |
| Non-recurring operating charges | 66A | €17,498 | - | -€17,498 | |
| Gross operating margin | 9900 | €570,650 | €508,978 | -€61,673 | -10.8% |
| Operating profit (loss) | 9901 | €241,556 | €212,168 | -€29,388 | -12.2% |
| Financial income | 75/76B | €3,964 | €6,000 | +€2,035 | +51.3% |
| Recurring financial income | 75 | €3,964 | €6,000 | +€2,035 | +51.3% |
| Financial charges | 65/66B | €7,269 | €4,980 | -€2,288 | -31.5% |
| Recurring financial charges | 65 | €7,269 | €4,980 | -€2,288 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €238,252 | €213,188 | -€25,064 | -10.5% |
| Income taxes | 67/77 | €60,587 | €54,792 | -€5,796 | -9.6% |
| Profit (loss) for the period | 9904 | €177,665 | €158,396 | -€19,268 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €177,665 | €158,396 | -€19,268 | -10.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.