AERING: 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.
AERING
Largest movements
- Receivables within one year +€380,957
up €380,957 (+53.6%), from €710,689 to €1.1m
of which Other amounts receivable: +€552,809
- Cash -€207,011
down €207,011 (-93.6%), from €221,088 to €14,077
mainly Receivables within one year (-€380,957) and Accrued charges and deferred income (-€229,960)
- Accrued charges and deferred income -€229,960
no longer reported in 2025 (was €229,960)
- Trade debts +€229,641
up €229,641 (+61.2%), from €375,175 to €604,816
- Reserves +€80,685
up €80,685 (+15.6%), from €518,437 to €599,122
of which Distributable reserves: +€80,685
- Debts after one year +€38,887
up €38,887 (+9.6%), from €403,673 to €442,560
- Tax, wage and social debts +€35,335
up €35,335 (+144.7%), from €24,420 to €59,755
- Financial income -€428,797
down €428,797 (-99.2%), from €432,427 to €3,630
- Gross operating margin +€322,116
up €322,116, from -€50,764 to €271,351
- Taxes +€9,654
up €9,654 (+42.1%), from €22,947 to €32,602
- Financial charges +€7,425
up €7,425 (+31.2%), from €23,809 to €31,233
- Other operating charges +€3,093
up €3,093 (+74.1%), from €4,173 to €7,266
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 | €1,961,768 | €2,151,122 | +€189,355 | +9.7% |
| Fixed assets | 21/28 | €1,029,991 | €1,045,399 | +€15,408 | +1.5% |
| Tangible fixed assets | 22/27 | €911,825 | €927,234 | +€15,408 | +1.7% |
| Land and buildings | 22 | €779,383 | €742,980 | -€36,403 | -4.7% |
| Plant, machinery and equipment | 23 | €11,623 | €7,674 | -€3,948 | -34.0% |
| Furniture and vehicles | 24 | €117,679 | €81,469 | -€36,210 | -30.8% |
| Leasing and similar rights | 25 | - | €92,364 | +€92,364 | |
| Other tangible fixed assets | 26 | €3,141 | €2,747 | -€394 | -12.5% |
| Financial fixed assets | 28 | €118,165 | €118,165 | = | 0.0% |
| Current assets | 29/58 | €931,777 | €1,105,723 | +€173,946 | +18.7% |
| Amounts receivable within one year | 40/41 | €710,689 | €1,091,647 | +€380,957 | +53.6% |
| Trade receivables | 40 | €324,274 | €152,422 | -€171,852 | -53.0% |
| Other amounts receivable | 41 | €386,415 | €939,224 | +€552,809 | +143.1% |
| Cash at bank and in hand | 54/58 | €221,088 | €14,077 | -€207,011 | -93.6% |
| Total equity and liabilities | 10/49 | €1,961,768 | €2,151,122 | +€189,355 | +9.7% |
| Equity | 10/15 | €739,089 | €801,349 | +€62,261 | +8.4% |
| Contributions | 10/11 | €119,784 | €119,784 | = | 0.0% |
| Capital | 10 | €119,784 | €119,784 | = | 0.0% |
| Issued capital | 100 | €131,334 | €131,334 | = | 0.0% |
| Uncalled capital | 101 | €11,550 | €11,550 | = | 0.0% |
| Reserves | 13 | €518,437 | €599,122 | +€80,685 | +15.6% |
| Non-distributable reserves | 130/1 | €9,826 | €9,826 | = | 0.0% |
| Legal reserve | 130 | €9,826 | €9,826 | = | 0.0% |
| Distributable reserves | 133 | €508,611 | €589,296 | +€80,685 | +15.9% |
| Profit (loss) carried forward | 14 | €100,867 | €82,444 | -€18,424 | -18.3% |
| Amounts payable | 17/49 | €1,222,679 | €1,349,773 | +€127,094 | +10.4% |
| Amounts payable after more than one year | 17 | €403,673 | €442,560 | +€38,887 | +9.6% |
| Financial debts | 170/4 | €403,673 | €442,560 | +€38,887 | +9.6% |
| Amounts payable within one year | 42/48 | €589,046 | €907,212 | +€318,167 | +54.0% |
| Current portion of amounts payable after more than one year | 42 | €69,451 | €72,269 | +€2,818 | +4.1% |
| Financial debts | 43 | - | €17,593 | +€17,593 | |
| Credit institutions | 430/8 | - | €17,593 | +€17,593 | |
| Trade debts | 44 | €375,175 | €604,816 | +€229,641 | +61.2% |
| Suppliers | 440/4 | €375,175 | €604,816 | +€229,641 | +61.2% |
| Taxes, remuneration and social security | 45 | €24,420 | €59,755 | +€35,335 | +144.7% |
| Taxes | 450/3 | €24,420 | €59,755 | +€35,335 | +144.7% |
| Other amounts payable | 47/48 | €120,000 | €152,780 | +€32,780 | +27.3% |
| Accrued charges and deferred income | 492/3 | €229,960 | - | -€229,960 | |
| Non-recurring operating income | 76A | - | €9,179 | +€9,179 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,261 | €98,716 | -€2,545 | -2.5% |
| Other operating charges | 640/8 | €4,173 | €7,266 | +€3,093 | +74.1% |
| Non-recurring operating charges | 66A | - | €42,904 | +€42,904 | |
| Gross operating margin | 9900 | -€50,764 | €271,351 | +€322,116 | |
| Operating profit (loss) | 9901 | -€156,198 | €122,466 | +€278,664 | |
| Financial income | 75/76B | €432,427 | €3,630 | -€428,797 | -99.2% |
| Recurring financial income | 75 | €432,427 | €3,630 | -€428,797 | -99.2% |
| Financial charges | 65/66B | €23,809 | €31,233 | +€7,425 | +31.2% |
| Recurring financial charges | 65 | €23,809 | €31,233 | +€7,425 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €252,420 | €94,862 | -€157,557 | -62.4% |
| Income taxes | 67/77 | €22,947 | €32,602 | +€9,654 | +42.1% |
| Profit (loss) for the period | 9904 | €229,473 | €62,261 | -€167,212 | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €229,473 | €62,261 | -€167,212 | -72.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.