AERTECH: 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.
AERTECH
Largest movements
- Receivables within one year +€174,609
up €174,609 (+133.6%), from €130,658 to €305,267
of which Trade receivables: +€167,981
- Stocks and contracts -€39,706
down €39,706 (-9.3%), from €428,858 to €389,152
- Cash +€39,470
up €39,470 (+86.8%), from €45,491 to €84,960
mainly Net result for the year (+€185,094) and Trade debts (+€51,160)
- Tangible fixed assets +€23,653
up €23,653 (+4.6%), from €518,997 to €542,650
of which Furniture and vehicles: +€45,755
- Reserves +€185,094
up €185,094 (+37.6%), from €492,479 to €677,573
- Trade debts +€51,160
up €51,160 (+149.9%), from €34,124 to €85,283
- Tax, wage and social debts +€31,124
up €31,124 (+69.6%), from €44,739 to €75,863
of which Taxes: +€37,477
- Debts after one year -€27,339
down €27,339 (-14.7%), from €186,421 to €159,081
- Other debts -€16,308
down €16,308 (-5.7%), from €288,608 to €272,300
- Gross operating margin +€51,722
up €51,722 (+15.8%), from €326,411 to €378,133
- Taxes +€20,492
up €20,492 (+32.4%), from €63,256 to €83,748
- Financial charges -€9,474
down €9,474 (-50.6%), from €18,712 to €9,238
- Depreciation +€7,225
up €7,225 (+19.3%), from €37,346 to €44,571
- Staff costs -€5,317
down €5,317 (-10.2%), from €52,378 to €47,061
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 | €1,137,309 | €1,347,739 | +€210,430 | +18.5% |
| Fixed assets | 21/28 | €527,100 | €563,930 | +€36,830 | +7.0% |
| Intangible fixed assets | 21 | €7,888 | €21,064 | +€13,176 | +167.0% |
| Tangible fixed assets | 22/27 | €518,997 | €542,650 | +€23,653 | +4.6% |
| Land and buildings | 22 | €509,480 | €487,960 | -€21,520 | -4.2% |
| Plant, machinery and equipment | 23 | €6,017 | €5,387 | -€630 | -10.5% |
| Furniture and vehicles | 24 | €3,499 | €49,255 | +€45,755 | +1307.5% |
| Assets under construction and advance payments | 27 | - | €48 | +€48 | |
| Financial fixed assets | 28 | €216 | €216 | = | 0.0% |
| Current assets | 29/58 | €610,209 | €783,810 | +€173,601 | +28.4% |
| Stocks and contracts in progress | 3 | €428,858 | €389,152 | -€39,706 | -9.3% |
| Stocks | 30/36 | €428,858 | €389,152 | -€39,706 | -9.3% |
| Amounts receivable within one year | 40/41 | €130,658 | €305,267 | +€174,609 | +133.6% |
| Trade receivables | 40 | €125,614 | €293,595 | +€167,981 | +133.7% |
| Other amounts receivable | 41 | €5,044 | €11,671 | +€6,628 | +131.4% |
| Cash at bank and in hand | 54/58 | €45,491 | €84,960 | +€39,470 | +86.8% |
| Deferred charges and accrued income | 490/1 | €5,203 | €4,431 | -€772 | -14.8% |
| Total equity and liabilities | 10/49 | €1,137,309 | €1,347,739 | +€210,430 | +18.5% |
| Equity | 10/15 | €498,679 | €683,773 | +€185,094 | +37.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €492,479 | €677,573 | +€185,094 | +37.6% |
| Distributable reserves | 133 | €492,479 | €677,573 | +€185,094 | +37.6% |
| Amounts payable | 17/49 | €638,630 | €663,967 | +€25,337 | +4.0% |
| Amounts payable after more than one year | 17 | €186,421 | €159,081 | -€27,339 | -14.7% |
| Financial debts | 170/4 | €186,421 | €159,081 | -€27,339 | -14.7% |
| Amounts payable within one year | 42/48 | €452,210 | €504,882 | +€52,673 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €81,739 | €67,688 | -€14,051 | -17.2% |
| Trade debts | 44 | €34,124 | €85,283 | +€51,160 | +149.9% |
| Suppliers | 440/4 | €34,124 | €85,283 | +€51,160 | +149.9% |
| Advances received on contracts in progress | 46 | €3,000 | €3,748 | +€748 | +24.9% |
| Taxes, remuneration and social security | 45 | €44,739 | €75,863 | +€31,124 | +69.6% |
| Taxes | 450/3 | €29,805 | €67,282 | +€37,477 | +125.7% |
| Remuneration and social security | 454/9 | €14,934 | €8,581 | -€6,353 | -42.5% |
| Other amounts payable | 47/48 | €288,608 | €272,300 | -€16,308 | -5.7% |
| Accrued charges and deferred income | 492/3 | - | €3 | +€3 | |
| Non-recurring operating income | 76A | €127,000 | €0 | -€127,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €52,378 | €47,061 | -€5,317 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,346 | €44,571 | +€7,225 | +19.3% |
| Other operating charges | 640/8 | €12,962 | €8,761 | -€4,201 | -32.4% |
| Gross operating margin | 9900 | €326,411 | €378,133 | +€51,722 | +15.8% |
| Operating profit (loss) | 9901 | €223,726 | €277,740 | +€54,015 | +24.1% |
| Financial income | 75/76B | €993 | €339 | -€655 | -65.9% |
| Recurring financial income | 75 | €993 | €339 | -€655 | -65.9% |
| Financial charges | 65/66B | €18,712 | €9,238 | -€9,474 | -50.6% |
| Recurring financial charges | 65 | €18,712 | €9,238 | -€9,474 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | €206,008 | €268,841 | +€62,834 | +30.5% |
| Income taxes | 67/77 | €63,256 | €83,748 | +€20,492 | +32.4% |
| Profit (loss) for the period | 9904 | €142,752 | €185,094 | +€42,342 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €142,752 | €185,094 | +€42,342 | +29.7% |
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 9 October 2026 via checked.be.