AERCON: 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.
What changed
AERCON
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€403,868
2024 · -€61,202-€342,666
Equity
€1.5m
2024 · €1.9m-€403,868
Cash
€215,407
2024 · €266,831-€51,424
Balance sheet total
€12.8m
2024 · €13.1m-€266,295
Largest movements
Assets
- Financial fixed assets +€300,000
up €300,000 (+16.2%), from €1.9m to €2.2m
- Tangible fixed assets -€265,629
down €265,629 (-8.6%), from €3.1m to €2.8m
of which Plant, machinery and equipment: -€241,558
Equity and liabilities
- Profit (loss) carried forward -€357,412
down €357,412 (-77.8%), from €459,524 to €102,113
Income statement
- Financial income -€463,223
down €463,223 (-93.9%), from €493,125 to €29,902
- Gross operating margin +€79,923
up €79,923 (+50.9%), from -€157,073 to -€77,150
- Financial charges -€24,409
down €24,409 (-19.4%), from €125,807 to €101,398
- Other operating charges -€15,151
down €15,151 (-83.7%), from €18,093 to €2,942
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.
Result 2024
-€61,202
Gross operating margin
+€79,923
Depreciation
+€872
Other operating charges
+€15,151
Financial income
-€463,223
Financial charges
+€24,409
Taxes
+€204
Result 2025
-€403,868
raises the resultlowers the result
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.
From operations
+€156,576
Investment
-€300,000
Financing
+€92,000
Cash 2024
€266,831
From operations (derived)
+€156,576
Net result for the year
-€403,868
Depreciation
+€265,629
Receivables within one year
+€119,059
Deferred charges and accrued income
+€130,182
Provisions
-€15,485
Trade debts
-€6,759
Tax, wage and social debts
+€11,568
Other debts
+€55,925
Accrued charges and deferred income
+€325
Investment (derived)
-€300,000
Investment in fixed assets (net)
-€300,000
Financing
+€92,000
Debts after one year
+€92,000
Cash 2025
€215,407
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,057,134 | €12,790,839 | -€266,295 | -2.0% |
| Fixed assets | 21/28 | €4,952,355 | €4,986,726 | +€34,371 | +0.7% |
| Tangible fixed assets | 22/27 | €3,094,784 | €2,829,154 | -€265,629 | -8.6% |
| Plant, machinery and equipment | 23 | €3,031,413 | €2,789,854 | -€241,558 | -8.0% |
| Furniture and vehicles | 24 | €63,371 | €39,300 | -€24,071 | -38.0% |
| Financial fixed assets | 28 | €1,857,571 | €2,157,571 | +€300,000 | +16.2% |
| Current assets | 29/58 | €8,104,779 | €7,804,114 | -€300,665 | -3.7% |
| Amounts receivable after more than one year | 29 | €7,190,000 | €7,190,000 | = | 0.0% |
| Other amounts receivable | 291 | €7,190,000 | €7,190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €482,600 | €363,542 | -€119,059 | -24.7% |
| Trade receivables | 40 | €167,202 | €52,677 | -€114,525 | -68.5% |
| Other amounts receivable | 41 | €315,398 | €310,865 | -€4,533 | -1.4% |
| Cash at bank and in hand | 54/58 | €266,831 | €215,407 | -€51,424 | -19.3% |
| Deferred charges and accrued income | 490/1 | €165,347 | €35,165 | -€130,182 | -78.7% |
| Total equity and liabilities | 10/49 | €13,057,134 | €12,790,839 | -€266,295 | -2.0% |
| Equity | 10/15 | €1,888,457 | €1,484,589 | -€403,868 | -21.4% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €678,933 | €632,476 | -€46,456 | -6.8% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €603,933 | €557,476 | -€46,456 | -7.7% |
| Profit (loss) carried forward | 14 | €459,524 | €102,113 | -€357,412 | -77.8% |
| Provisions and deferred taxes | 16 | €201,311 | €185,825 | -€15,485 | -7.7% |
| Deferred taxes | 168 | €201,311 | €185,825 | -€15,485 | -7.7% |
| Amounts payable | 17/49 | €10,967,366 | €11,120,425 | +€153,059 | +1.4% |
| Amounts payable after more than one year | 17 | €9,292,000 | €9,384,000 | +€92,000 | +1.0% |
| Financial debts | 170/4 | €9,292,000 | €9,384,000 | +€92,000 | +1.0% |
| Amounts payable within one year | 42/48 | €1,649,992 | €1,710,725 | +€60,734 | +3.7% |
| Trade debts | 44 | €50,423 | €43,664 | -€6,759 | -13.4% |
| Suppliers | 440/4 | €50,423 | €43,664 | -€6,759 | -13.4% |
| Taxes, remuneration and social security | 45 | €4,395 | €15,964 | +€11,568 | +263% |
| Taxes | 450/3 | €4,395 | €15,964 | +€11,568 | +263% |
| Other amounts payable | 47/48 | €1,595,173 | €1,651,098 | +€55,925 | +3.5% |
| Accrued charges and deferred income | 492/3 | €25,375 | €25,700 | +€325 | +1.3% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266,501 | €265,629 | -€872 | -0.3% |
| Other operating charges | 640/8 | €18,093 | €2,942 | -€15,151 | -83.7% |
| Gross operating margin | 9900 | -€157,073 | -€77,150 | +€79,923 | +50.9% |
| Operating profit (loss) | 9901 | -€441,666 | -€345,721 | +€95,945 | +21.7% |
| Financial income | 75/76B | €493,125 | €29,902 | -€463,223 | -93.9% |
| Recurring financial income | 75 | €493,125 | €29,902 | -€463,223 | -93.9% |
| Financial charges | 65/66B | €125,807 | €101,398 | -€24,409 | -19.4% |
| Recurring financial charges | 65 | €125,807 | €101,398 | -€24,409 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | -€74,349 | -€417,218 | -€342,870 | -461% |
| Transfer from deferred taxes | 780 | €15,485 | €15,485 | = | 0.0% |
| Income taxes | 67/77 | €2,339 | €2,135 | -€204 | -8.7% |
| Profit (loss) for the period | 9904 | -€61,202 | -€403,868 | -€342,666 | -560% |
| Transfer from tax-exempt reserves | 789 | €46,456 | €46,456 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,746 | -€357,412 | -€342,666 | -2,324% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.