AERTS BIRGITTE: 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 BIRGITTE
Largest movements
- Tangible fixed assets -€11,013
down €11,013 (-17.8%), from €62,041 to €51,029
of which Land and buildings: -€9,316
- Receivables within one year -€6,247
down €6,247 (-28.8%), from €21,722 to €15,475
of which Trade receivables: -€7,300
- Debts after one year -€12,303
down €12,303 (-17.3%), from €71,040 to €58,737
- Other debts +€9,669
up €9,669 (+71.0%), from €13,623 to €23,292
- Profit (loss) carried forward -€9,003
down €9,003 (-43.2%), from €20,830 to €11,827
- Trade debts -€3,351
down €3,351 (-72.5%), from €4,619 to €1,268
- Tax, wage and social debts -€2,176
down €2,176 (-65.9%), from €3,301 to €1,125
- Gross operating margin -€30,909
down €30,909 (-81.4%), from €37,972 to €7,064
- Taxes -€2,267
no longer reported in 2025 (was €2,267)
- Financial charges -€462
down €462 (-10.2%), from €4,550 to €4,088
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.
Derived cash bridge
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 | €159,803 | €143,167 | -€16,637 | -10.4% |
| Fixed assets | 21/28 | €62,041 | €51,029 | -€11,013 | -17.8% |
| Tangible fixed assets | 22/27 | €62,041 | €51,029 | -€11,013 | -17.8% |
| Land and buildings | 22 | €57,058 | €47,742 | -€9,316 | -16.3% |
| Plant, machinery and equipment | 23 | €921 | €644 | -€277 | -30.1% |
| Furniture and vehicles | 24 | €699 | €43 | -€656 | -93.8% |
| Other tangible fixed assets | 26 | €3,363 | €2,599 | -€764 | -22.7% |
| Current assets | 29/58 | €97,762 | €92,138 | -€5,624 | -5.8% |
| Amounts receivable within one year | 40/41 | €21,722 | €15,475 | -€6,247 | -28.8% |
| Trade receivables | 40 | €20,664 | €13,364 | -€7,300 | -35.3% |
| Other amounts receivable | 41 | €1,059 | €2,111 | +€1,053 | +99.4% |
| Cash at bank and in hand | 54/58 | €75,350 | €75,871 | +€521 | +0.7% |
| Deferred charges and accrued income | 490/1 | €690 | €791 | +€101 | +14.7% |
| Total equity and liabilities | 10/49 | €159,803 | €143,167 | -€16,637 | -10.4% |
| Equity | 10/15 | €55,444 | €46,442 | -€9,003 | -16.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €20,354 | €20,354 | = | 0.0% |
| Distributable reserves | 133 | €20,354 | €20,354 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,830 | €11,827 | -€9,003 | -43.2% |
| Amounts payable | 17/49 | €104,359 | €96,725 | -€7,634 | -7.3% |
| Amounts payable after more than one year | 17 | €71,040 | €58,737 | -€12,303 | -17.3% |
| Financial debts | 170/4 | €71,040 | €58,737 | -€12,303 | -17.3% |
| Amounts payable within one year | 42/48 | €33,319 | €37,988 | +€4,669 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €11,776 | €12,303 | +€527 | +4.5% |
| Trade debts | 44 | €4,619 | €1,268 | -€3,351 | -72.5% |
| Suppliers | 440/4 | €4,619 | €1,268 | -€3,351 | -72.5% |
| Taxes, remuneration and social security | 45 | €3,301 | €1,125 | -€2,176 | -65.9% |
| Taxes | 450/3 | €3,301 | €1,125 | -€2,176 | -65.9% |
| Other amounts payable | 47/48 | €13,623 | €23,292 | +€9,669 | +71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,141 | €11,013 | -€128 | -1.2% |
| Other operating charges | 640/8 | €1,300 | €1,338 | +€38 | +2.9% |
| Gross operating margin | 9900 | €37,972 | €7,064 | -€30,909 | -81.4% |
| Operating profit (loss) | 9901 | €25,532 | -€5,286 | -€30,818 | |
| Financial income | 75/76B | €301 | €371 | +€70 | +23.4% |
| Recurring financial income | 75 | €301 | €371 | +€70 | +23.4% |
| Financial charges | 65/66B | €4,550 | €4,088 | -€462 | -10.2% |
| Recurring financial charges | 65 | €4,550 | €4,088 | -€462 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €21,283 | -€9,003 | -€30,286 | |
| Income taxes | 67/77 | €2,267 | - | -€2,267 | |
| Profit (loss) for the period | 9904 | €19,016 | -€9,003 | -€28,019 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,016 | -€9,003 | -€28,019 |
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 20 October 2026 via checked.be.