AERTEL: 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.
AERTEL
Largest movements
- Receivables within one year +€16,338
up €16,338 (+30.4%), from €53,732 to €70,070
of which Trade receivables: +€26,777
- Stocks and contracts -€3,830
down €3,830 (-7.2%), from €53,337 to €49,507
- Trade debts -€38,281
down €38,281 (-73.3%), from €52,198 to €13,917
- Debts after one year +€20,844
new in 2025: €20,844
- Other debts +€18,271
up €18,271 (+47.5%), from €38,496 to €56,767
- Current portion of long-term debt +€9,156
new in 2025: €9,156
- Tax, wage and social debts +€1,598
new in 2025: €1,598
- Taxes +€18,242
up €18,242 (+3007.8%), from €606 to €18,848
- Other operating charges +€11,770
up €11,770 (+1909.4%), from €616 to €12,387
- Gross operating margin +€10,919
up €10,919 (+46.1%), from €23,701 to €34,619
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 | €112,859 | €125,814 | +€12,954 | +11.5% |
| Current assets | 29/58 | €112,859 | €125,814 | +€12,954 | +11.5% |
| Stocks and contracts in progress | 3 | €53,337 | €49,507 | -€3,830 | -7.2% |
| Stocks | 30/36 | €53,337 | €49,507 | -€3,830 | -7.2% |
| Amounts receivable within one year | 40/41 | €53,732 | €70,070 | +€16,338 | +30.4% |
| Trade receivables | 40 | €40,790 | €67,567 | +€26,777 | +65.6% |
| Other amounts receivable | 41 | €12,942 | €2,503 | -€10,439 | -80.7% |
| Cash at bank and in hand | 54/58 | €5,679 | €5,812 | +€133 | +2.3% |
| Deferred charges and accrued income | 490/1 | €110 | €424 | +€314 | +283.9% |
| Total equity and liabilities | 10/49 | €112,859 | €125,814 | +€12,954 | +11.5% |
| Equity | 10/15 | €22,165 | €23,531 | +€1,366 | +6.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,905 | €9,271 | +€1,366 | +17.3% |
| Amounts payable | 17/49 | €90,694 | €102,282 | +€11,588 | +12.8% |
| Amounts payable after more than one year | 17 | - | €20,844 | +€20,844 | |
| Financial debts | 170/4 | - | €20,844 | +€20,844 | |
| Amounts payable within one year | 42/48 | €90,694 | €81,438 | -€9,255 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,156 | +€9,156 | |
| Trade debts | 44 | €52,198 | €13,917 | -€38,281 | -73.3% |
| Suppliers | 440/4 | €52,198 | €13,917 | -€38,281 | -73.3% |
| Taxes, remuneration and social security | 45 | - | €1,598 | +€1,598 | |
| Taxes | 450/3 | - | €1,598 | +€1,598 | |
| Other amounts payable | 47/48 | €38,496 | €56,767 | +€18,271 | +47.5% |
| Other operating charges | 640/8 | €616 | €12,387 | +€11,770 | +1909.4% |
| Gross operating margin | 9900 | €23,701 | €34,619 | +€10,919 | +46.1% |
| Operating profit (loss) | 9901 | €23,084 | €22,233 | -€851 | -3.7% |
| Financial income | 75/76B | €1 | €2 | +€1 | +239.3% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +239.3% |
| Financial charges | 65/66B | €1,966 | €2,021 | +€55 | +2.8% |
| Recurring financial charges | 65 | €1,966 | €2,021 | +€55 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €21,119 | €20,214 | -€905 | -4.3% |
| Income taxes | 67/77 | €606 | €18,848 | +€18,242 | +3007.8% |
| Profit (loss) for the period | 9904 | €20,512 | €1,366 | -€19,146 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,512 | €1,366 | -€19,146 | -93.3% |
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 4 October 2026 via checked.be.