AERTS: 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.
AERTS
Largest movements
- Cash -€21,615
down €21,615 (-74.6%), from €28,964 to €7,349
mainly Tax, wage and social debts (-€25,276) and Receivables within one year (-€21,001)
- Receivables within one year +€21,001
up €21,001 (+123.5%), from €17,007 to €38,008
of which Trade receivables: +€31,337
- Tangible fixed assets -€7,208
down €7,208 (-25.5%), from €28,279 to €21,071
- Deferred charges and accrued income +€3,311
up €3,311 (+96.1%), from €3,445 to €6,756
- Tax, wage and social debts -€25,276
down €25,276 (-92.4%), from €27,343 to €2,067
of which Taxes: -€23,049
- Reserves +€23,443
up €23,443 (+20.2%), from €115,908 to €139,351
- Trade debts +€15,795
up €15,795 (+1046.6%), from €1,509 to €17,304
- Other debts -€14,929
down €14,929 (-66.5%), from €22,442 to €7,513
- Advances received -€3,600
no longer reported in 2024 (was €3,600)
- Gross operating margin +€9,107
up €9,107 (+19.8%), from €45,923 to €55,029
- Depreciation -€5,097
down €5,097 (-35.2%), from €14,472 to €9,375
- Other operating charges +€2,608
up €2,608 (+44.6%), from €5,842 to €8,450
- Taxes +€1,724
up €1,724 (+22.0%), from €7,843 to €9,567
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €208,101 | €203,590 | -€4,511 | -2.2% |
| Fixed assets | 21/28 | €28,684 | €21,476 | -€7,208 | -25.1% |
| Tangible fixed assets | 22/27 | €28,279 | €21,071 | -€7,208 | -25.5% |
| Land and buildings | 22 | €2,585 | €2,068 | -€517 | -20.0% |
| Plant, machinery and equipment | 23 | €11,515 | €8,386 | -€3,130 | -27.2% |
| Furniture and vehicles | 24 | €12,653 | €9,091 | -€3,561 | -28.1% |
| Leasing and similar rights | 25 | €1,527 | €1,527 | = | 0.0% |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €179,416 | €182,114 | +€2,697 | +1.5% |
| Amounts receivable after more than one year | 29 | €130,000 | €130,000 | = | 0.0% |
| Other amounts receivable | 291 | €130,000 | €130,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,007 | €38,008 | +€21,001 | +123.5% |
| Trade receivables | 40 | €3,376 | €34,713 | +€31,337 | +928.2% |
| Other amounts receivable | 41 | €13,631 | €3,295 | -€10,337 | -75.8% |
| Cash at bank and in hand | 54/58 | €28,964 | €7,349 | -€21,615 | -74.6% |
| Deferred charges and accrued income | 490/1 | €3,445 | €6,756 | +€3,311 | +96.1% |
| Total equity and liabilities | 10/49 | €208,101 | €203,590 | -€4,511 | -2.2% |
| Equity | 10/15 | €129,495 | €152,939 | +€23,443 | +18.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €115,908 | €139,351 | +€23,443 | +20.2% |
| Distributable reserves | 133 | €115,908 | €139,351 | +€23,443 | +20.2% |
| Profit (loss) carried forward | 14 | €7,388 | €7,388 | = | 0.0% |
| Amounts payable | 17/49 | €78,605 | €50,651 | -€27,954 | -35.6% |
| Amounts payable after more than one year | 17 | €7,979 | €7,979 | = | 0.0% |
| Financial debts | 170/4 | €7,979 | €7,979 | = | 0.0% |
| Amounts payable within one year | 42/48 | €56,713 | €28,759 | -€27,954 | -49.3% |
| Current portion of amounts payable after more than one year | 42 | €1,819 | €1,875 | +€56 | +3.1% |
| Trade debts | 44 | €1,509 | €17,304 | +€15,795 | +1046.6% |
| Suppliers | 440/4 | €1,509 | €17,304 | +€15,795 | +1046.6% |
| Advances received on contracts in progress | 46 | €3,600 | - | -€3,600 | |
| Taxes, remuneration and social security | 45 | €27,343 | €2,067 | -€25,276 | -92.4% |
| Taxes | 450/3 | €25,116 | €2,067 | -€23,049 | -91.8% |
| Remuneration and social security | 454/9 | €2,226 | - | -€2,226 | |
| Other amounts payable | 47/48 | €22,442 | €7,513 | -€14,929 | -66.5% |
| Accrued charges and deferred income | 492/3 | €13,914 | €13,914 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,472 | €9,375 | -€5,097 | -35.2% |
| Other operating charges | 640/8 | €5,842 | €8,450 | +€2,608 | +44.6% |
| Gross operating margin | 9900 | €45,923 | €55,029 | +€9,107 | +19.8% |
| Operating profit (loss) | 9901 | €25,608 | €37,204 | +€11,596 | +45.3% |
| Financial charges | 65/66B | €4,663 | €4,193 | -€470 | -10.1% |
| Recurring financial charges | 65 | €4,663 | €4,193 | -€470 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €20,945 | €33,011 | +€12,066 | +57.6% |
| Income taxes | 67/77 | €7,843 | €9,567 | +€1,724 | +22.0% |
| Profit (loss) for the period | 9904 | €13,102 | €23,443 | +€10,342 | +78.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,102 | €23,443 | +€10,342 | +78.9% |
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 10 October 2026 via checked.be.