Aerts: 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.
Aerts
Largest movements
- Receivables within one year -€138,235
down €138,235 (-23.1%), from €597,693 to €459,458
of which Other amounts receivable: -€137,090
- Cash +€84,340
up €84,340 (+154.5%), from €54,597 to €138,937
mainly Receivables within one year (+€138,235) and Net result for the year (+€49,646)
- Tangible fixed assets -€33,050
down €33,050 (-11.8%), from €279,686 to €246,636
- Debts after one year -€141,879
down €141,879 (-39.8%), from €356,094 to €214,215
- Profit (loss) carried forward +€49,646
up €49,646 (+86.9%), from €57,134 to €106,780
- Gross operating margin +€36,044
up €36,044 (+79.6%), from €45,273 to €81,318
- Taxes +€8,354
up €8,354 (+1724.8%), from €484 to €8,838
- Financial income +€5,488
up €5,488 (+38.5%), from €14,262 to €19,750
- Financial charges +€2,059
up €2,059 (+32.7%), from €6,287 to €8,346
- Depreciation +€1,384
up €1,384 (+4.4%), from €31,710 to €33,094
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 | €932,019 | €845,031 | -€86,988 | -9.3% |
| Fixed assets | 21/28 | €279,730 | €246,636 | -€33,094 | -11.8% |
| Intangible fixed assets | 21 | €44 | €0 | -€44 | -100.0% |
| Tangible fixed assets | 22/27 | €279,686 | €246,636 | -€33,050 | -11.8% |
| Other tangible fixed assets | 26 | €279,686 | €246,636 | -€33,050 | -11.8% |
| Current assets | 29/58 | €652,290 | €598,396 | -€53,894 | -8.3% |
| Amounts receivable within one year | 40/41 | €597,693 | €459,458 | -€138,235 | -23.1% |
| Trade receivables | 40 | €8,444 | €7,299 | -€1,144 | -13.6% |
| Other amounts receivable | 41 | €589,249 | €452,159 | -€137,090 | -23.3% |
| Cash at bank and in hand | 54/58 | €54,597 | €138,937 | +€84,340 | +154.5% |
| Total equity and liabilities | 10/49 | €932,019 | €845,031 | -€86,988 | -9.3% |
| Equity | 10/15 | €571,003 | €620,649 | +€49,646 | +8.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €494,870 | €494,870 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €492,970 | €492,970 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,134 | €106,780 | +€49,646 | +86.9% |
| Amounts payable | 17/49 | €361,016 | €224,382 | -€136,634 | -37.8% |
| Amounts payable after more than one year | 17 | €356,094 | €214,215 | -€141,879 | -39.8% |
| Other amounts payable | 178/9 | €356,094 | €214,215 | -€141,879 | -39.8% |
| Amounts payable within one year | 42/48 | €4,922 | €10,167 | +€5,245 | +106.6% |
| Trade debts | 44 | €4,438 | €1,329 | -€3,109 | -70.0% |
| Suppliers | 440/4 | €4,438 | €1,329 | -€3,109 | -70.0% |
| Taxes, remuneration and social security | 45 | €484 | €8,838 | +€8,354 | +1724.8% |
| Taxes | 450/3 | €484 | €8,838 | +€8,354 | +1724.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,710 | €33,094 | +€1,384 | +4.4% |
| Other operating charges | 640/8 | €2,158 | €1,144 | -€1,014 | -47.0% |
| Gross operating margin | 9900 | €45,273 | €81,318 | +€36,044 | +79.6% |
| Operating profit (loss) | 9901 | €11,406 | €47,080 | +€35,674 | +312.8% |
| Financial income | 75/76B | €14,262 | €19,750 | +€5,488 | +38.5% |
| Recurring financial income | 75 | €14,262 | €19,750 | +€5,488 | +38.5% |
| Financial charges | 65/66B | €6,287 | €8,346 | +€2,059 | +32.7% |
| Recurring financial charges | 65 | €6,287 | €8,346 | +€2,059 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | €19,381 | €58,484 | +€39,103 | +201.8% |
| Income taxes | 67/77 | €484 | €8,838 | +€8,354 | +1724.8% |
| Profit (loss) for the period | 9904 | €18,896 | €49,646 | +€30,750 | +162.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €18,896 | €49,646 | +€30,750 | +162.7% |
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 7 October 2026 via checked.be.