AEP SOLAR 21: 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.
AEP SOLAR 21
Largest movements
- Cash +€542,131
up €542,131 (+61.3%), from €884,244 to €1.4m
mainly Current portion of long-term debt (+€700,000) and Net result for the year (+€685,982)
- Tangible fixed assets -€254,009
down €254,009 (-6.8%), from €3.7m to €3.5m
- Debts after one year -€982,184
down €982,184 (-31.0%), from €3.2m to €2.2m
- Current portion of long-term debt +€700,000
up €700,000 (+248%), from €282,184 to €982,184
- Profit (loss) carried forward +€685,982
up €685,982 (+76.3%), from €898,817 to €1.6m
- Trade debts -€64,550
down €64,550 (-47.3%), from €136,534 to €71,984
- Gross operating margin +€569,812
up €569,812 (+77.3%), from €736,859 to €1.3m
- Depreciation +€254,009
new in 2025: €254,009
- Taxes +€194,644
up €194,644 (+249%), from €78,278 to €272,921
- Financial charges -€16,201
down €16,201 (-13.4%), from €120,815 to €104,614
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 | €4,797,845 | €5,071,730 | +€273,886 | +5.7% |
| Fixed assets | 21/28 | €3,742,701 | €3,488,693 | -€254,009 | -6.8% |
| Tangible fixed assets | 22/27 | €3,742,701 | €3,488,693 | -€254,009 | -6.8% |
| Plant, machinery and equipment | 23 | €3,742,701 | €3,488,693 | -€254,009 | -6.8% |
| Current assets | 29/58 | €1,055,143 | €1,583,038 | +€527,894 | +50.0% |
| Amounts receivable within one year | 40/41 | €149,695 | €135,238 | -€14,458 | -9.7% |
| Trade receivables | 40 | €76,973 | €28,273 | -€48,700 | -63.3% |
| Other amounts receivable | 41 | €72,723 | €106,964 | +€34,242 | +47.1% |
| Cash at bank and in hand | 54/58 | €884,244 | €1,426,375 | +€542,131 | +61.3% |
| Deferred charges and accrued income | 490/1 | €21,204 | €21,426 | +€221 | +1.0% |
| Total equity and liabilities | 10/49 | €4,797,845 | €5,071,730 | +€273,886 | +5.7% |
| Equity | 10/15 | €1,042,611 | €1,721,631 | +€679,020 | +65.1% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €898,817 | €1,584,799 | +€685,982 | +76.3% |
| Investment grants | 15 | €131,794 | €124,832 | -€6,963 | -5.3% |
| Provisions and deferred taxes | 16 | €43,931 | €41,611 | -€2,321 | -5.3% |
| Deferred taxes | 168 | €43,931 | €41,611 | -€2,321 | -5.3% |
| Amounts payable | 17/49 | €3,711,302 | €3,308,489 | -€402,813 | -10.9% |
| Amounts payable after more than one year | 17 | €3,170,571 | €2,188,387 | -€982,184 | -31.0% |
| Financial debts | 170/4 | €3,170,571 | €2,188,387 | -€982,184 | -31.0% |
| Amounts payable within one year | 42/48 | €511,403 | €1,097,008 | +€585,605 | +115% |
| Current portion of amounts payable after more than one year | 42 | €282,184 | €982,184 | +€700,000 | +248% |
| Trade debts | 44 | €136,534 | €71,984 | -€64,550 | -47.3% |
| Suppliers | 440/4 | €136,534 | €71,984 | -€64,550 | -47.3% |
| Taxes, remuneration and social security | 45 | €92,685 | €42,840 | -€49,845 | -53.8% |
| Taxes | 450/3 | €92,685 | €42,840 | -€49,845 | -53.8% |
| Accrued charges and deferred income | 492/3 | €29,327 | €23,093 | -€6,234 | -21.3% |
| Non-recurring operating income | 76A | €62,266 | - | -€62,266 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €254,009 | +€254,009 | |
| Other operating charges | 640/8 | €1,100 | €1,118 | +€18 | +1.7% |
| Gross operating margin | 9900 | €736,859 | €1,306,671 | +€569,812 | +77.3% |
| Operating profit (loss) | 9901 | €735,759 | €1,051,544 | +€315,785 | +42.9% |
| Financial income | 75/76B | €7,459 | €9,653 | +€2,194 | +29.4% |
| Recurring financial income | 75 | €7,459 | €9,653 | +€2,194 | +29.4% |
| Financial charges | 65/66B | €120,815 | €104,614 | -€16,201 | -13.4% |
| Recurring financial charges | 65 | €120,815 | €104,614 | -€16,201 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €622,403 | €956,583 | +€334,179 | +53.7% |
| Transfer from deferred taxes | 780 | €2,486 | €2,321 | -€165 | -6.6% |
| Income taxes | 67/77 | €78,278 | €272,921 | +€194,644 | +249% |
| Profit (loss) for the period | 9904 | €546,612 | €685,982 | +€139,371 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €546,612 | €685,982 | +€139,371 | +25.5% |
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 26 October 2026 via checked.be.