AERO 44: 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
AERO 44
NACE 55.100, Hotels and similar accommodation
financial year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€90,682
2023 · €107,993-€198,675
Equity
€2.0m
2023 · €2.1m-€118,932
Cash
€199,879
2023 · €418,634-€218,755
Balance sheet total
€4.6m
2023 · €3.0m+€1.7m
Largest movements
Assets
- Tangible fixed assets +€1.8m
up €1.8m (+78.5%), from €2.3m to €4.2m
of which Land and buildings: +€1.4m
- Cash -€218,755
down €218,755 (-52.3%), from €418,634 to €199,879
mainly Investment in fixed assets (net) (-€2.1m) and Net result for the year (-€90,682)
Equity and liabilities
- Debts after one year +€1.6m
up €1.6m (+827.3%), from €198,801 to €1.8m
- Current portion of long-term debt +€110,086
up €110,086 (+243.4%), from €45,231 to €155,317
- Trade debts +€91,898
up €91,898 (+22.8%), from €402,882 to €494,780
- Profit (loss) carried forward -€90,682
new in 2024: -€90,682
Income statement
- Depreciation +€106,396
up €106,396 (+65.2%), from €163,097 to €269,492
- Staff costs +€85,443
up €85,443 (+6.8%), from €1.2m to €1.3m
- Gross operating margin -€31,050
down €31,050 (-1.9%), from €1.6m to €1.6m
- Taxes -€29,072
down €29,072 (-99.1%), from €29,325 to €253
From the 2023 result to the 2024 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 2023
€107,993
Gross operating margin
-€31,050
Staff costs
-€85,443
Depreciation
-€106,396
Other operating charges
+€13,128
Other operating items
+€143
Financial income
-€4,183
Financial charges
-€13,946
Taxes
+€29,072
Result 2024
-€90,682
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€176,213
Investment
-€2.1m
Financing
+€1.7m
Cash 2023
€418,634
From operations (derived)
+€176,213
Net result for the year
-€90,682
Depreciation
+€269,492
Receivables within one year
-€32,397
Deferred charges and accrued income
-€17,001
Trade debts
+€91,898
Tax, wage and social debts
-€31,164
Other debts
-€13,933
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
+€1.7m
Debts after one year
+€1.6m
Current portion of long-term debt
+€110,086
Contributions, distributions and other
-€28,250
Cash 2024
€199,879
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,959,407 | €4,642,045 | +€1.7m | +56.9% |
| Fixed assets | 21/28 | €2,330,946 | €4,182,941 | +€1.9m | +79.5% |
| Intangible fixed assets | 21 | - | €23,948 | +€23,948 | |
| Tangible fixed assets | 22/27 | €2,329,333 | €4,157,380 | +€1.8m | +78.5% |
| Land and buildings | 22 | €2,173,445 | €3,600,255 | +€1.4m | +65.6% |
| Plant, machinery and equipment | 23 | €29,312 | €84,140 | +€54,828 | +187.1% |
| Furniture and vehicles | 24 | €126,576 | €472,985 | +€346,409 | +273.7% |
| Financial fixed assets | 28 | €1,613 | €1,613 | = | 0.0% |
| Current assets | 29/58 | €628,461 | €459,104 | -€169,357 | -26.9% |
| Stocks and contracts in progress | 3 | €25,743 | €25,743 | = | 0.0% |
| Stocks | 30/36 | €25,743 | €25,743 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €143,719 | €176,116 | +€32,397 | +22.5% |
| Trade receivables | 40 | €105,302 | €79,442 | -€25,860 | -24.6% |
| Other amounts receivable | 41 | €38,417 | €96,674 | +€58,257 | +151.6% |
| Cash at bank and in hand | 54/58 | €418,634 | €199,879 | -€218,755 | -52.3% |
| Deferred charges and accrued income | 490/1 | €40,364 | €57,365 | +€17,001 | +42.1% |
| Total equity and liabilities | 10/49 | €2,959,407 | €4,642,045 | +€1.7m | +56.9% |
| Equity | 10/15 | €2,127,736 | €2,008,803 | -€118,932 | -5.6% |
| Contributions | 10/11 | €239,040 | €239,040 | = | 0.0% |
| Capital | 10 | €239,040 | €239,040 | = | 0.0% |
| Issued capital | 100 | €239,040 | €239,040 | = | 0.0% |
| Reserves | 13 | €1,571,428 | €1,571,428 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,904 | €23,904 | = | 0.0% |
| Legal reserve | 130 | €23,904 | €23,904 | = | 0.0% |
| Tax-exempt reserves | 132 | €122,090 | €122,090 | = | 0.0% |
| Distributable reserves | 133 | €1,425,434 | €1,425,434 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€90,682 | -€90,682 | |
| Investment grants | 15 | €317,268 | €289,018 | -€28,250 | -8.9% |
| Amounts payable | 17/49 | €831,671 | €2,633,241 | +€1.8m | +216.6% |
| Amounts payable after more than one year | 17 | €198,801 | €1,843,484 | +€1.6m | +827.3% |
| Financial debts | 170/4 | €198,801 | €1,843,484 | +€1.6m | +827.3% |
| Amounts payable within one year | 42/48 | €632,871 | €789,758 | +€156,887 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €45,231 | €155,317 | +€110,086 | +243.4% |
| Trade debts | 44 | €402,882 | €494,780 | +€91,898 | +22.8% |
| Suppliers | 440/4 | €402,882 | €494,780 | +€91,898 | +22.8% |
| Taxes, remuneration and social security | 45 | €170,649 | €139,485 | -€31,164 | -18.3% |
| Taxes | 450/3 | €33,276 | €10,725 | -€22,551 | -67.8% |
| Remuneration and social security | 454/9 | €137,373 | €128,760 | -€8,613 | -6.3% |
| Other amounts payable | 47/48 | €14,109 | €176 | -€13,933 | -98.8% |
| Remuneration, social security and pensions | 62 | €1,248,141 | €1,333,584 | +€85,443 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,097 | €269,492 | +€106,396 | +65.2% |
| Other operating charges | 640/8 | €82,584 | €69,456 | -€13,128 | -15.9% |
| Non-recurring operating charges | 66A | €143 | - | -€143 | |
| Gross operating margin | 9900 | €1,647,763 | €1,616,713 | -€31,050 | -1.9% |
| Operating profit (loss) | 9901 | €153,799 | -€55,819 | -€209,618 | |
| Financial income | 75/76B | €33,997 | €29,814 | -€4,183 | -12.3% |
| Recurring financial income | 75 | €33,997 | €29,814 | -€4,183 | -12.3% |
| Financial charges | 65/66B | €50,478 | €64,424 | +€13,946 | +27.6% |
| Recurring financial charges | 65 | €50,478 | €64,424 | +€13,946 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €137,318 | -€90,429 | -€227,747 | |
| Income taxes | 67/77 | €29,325 | €253 | -€29,072 | -99.1% |
| Profit (loss) for the period | 9904 | €107,993 | -€90,682 | -€198,675 | |
| Transfer to tax-exempt reserves | 689 | €63,150 | - | -€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,843 | -€90,682 | -€135,525 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.