AERTS PASCAL: 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 PASCAL
Largest movements
- Cash +€13,157
up €13,157 (+834.9%), from €1,576 to €14,733
mainly Debts after one year (+€15,994) and Current portion of long-term debt (+€3,085)
- Tangible fixed assets +€3,306
up €3,306 (+16.3%), from €20,237 to €23,543
of which Plant, machinery and equipment: +€3,646
- Receivables within one year -€2,505
down €2,505 (-29.5%), from €8,502 to €5,997
of which Other amounts receivable: -€3,429
- Debts after one year +€15,994
new in 2025: €15,994
- Trade debts -€7,132
down €7,132 (-54.7%), from €13,035 to €5,903
- Current portion of long-term debt +€3,085
new in 2025: €3,085
- Tax, wage and social debts +€2,406
up €2,406 (+449.3%), from €535 to €2,942
of which Remuneration and social security: +€1,729
- Advances received -€1,231
down €1,231 (-12.7%), from €9,712 to €8,481
- Gross operating margin -€3,860
down €3,860 (-44.3%), from €8,721 to €4,861
- Taxes +€1,213
new in 2025: €1,213
- Other operating charges -€342
down €342 (-31.2%), from €1,095 to €753
- Depreciation -€218
down €218 (-11.7%), from €1,868 to €1,650
- Financial charges +€132
up €132 (+47.4%), from €279 to €411
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 | €31,373 | €45,332 | +€13,959 | +44.5% |
| Fixed assets | 21/28 | €20,299 | €23,605 | +€3,306 | +16.3% |
| Tangible fixed assets | 22/27 | €20,237 | €23,543 | +€3,306 | +16.3% |
| Plant, machinery and equipment | 23 | €1,639 | €5,285 | +€3,646 | +222.5% |
| Furniture and vehicles | 24 | €598 | €258 | -€340 | -56.9% |
| Other tangible fixed assets | 26 | €18,000 | €18,000 | = | 0.0% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €11,074 | €21,727 | +€10,652 | +96.2% |
| Amounts receivable within one year | 40/41 | €8,502 | €5,997 | -€2,505 | -29.5% |
| Trade receivables | 40 | €2,036 | €2,960 | +€924 | +45.4% |
| Other amounts receivable | 41 | €6,465 | €3,037 | -€3,429 | -53.0% |
| Cash at bank and in hand | 54/58 | €1,576 | €14,733 | +€13,157 | +834.9% |
| Deferred charges and accrued income | 490/1 | €997 | €997 | = | 0.0% |
| Total equity and liabilities | 10/49 | €31,373 | €45,332 | +€13,959 | +44.5% |
| Equity | 10/15 | €8,091 | €8,927 | +€836 | +10.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 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% |
| Profit (loss) carried forward | 14 | -€12,809 | -€11,973 | +€836 | +6.5% |
| Amounts payable | 17/49 | €23,282 | €36,406 | +€13,123 | +56.4% |
| Amounts payable after more than one year | 17 | - | €15,994 | +€15,994 | |
| Financial debts | 170/4 | - | €15,994 | +€15,994 | |
| Amounts payable within one year | 42/48 | €23,282 | €20,411 | -€2,871 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | - | €3,085 | +€3,085 | |
| Trade debts | 44 | €13,035 | €5,903 | -€7,132 | -54.7% |
| Suppliers | 440/4 | €13,035 | €5,903 | -€7,132 | -54.7% |
| Advances received on contracts in progress | 46 | €9,712 | €8,481 | -€1,231 | -12.7% |
| Taxes, remuneration and social security | 45 | €535 | €2,942 | +€2,406 | +449.3% |
| Taxes | 450/3 | €535 | €1,213 | +€677 | +126.5% |
| Remuneration and social security | 454/9 | - | €1,729 | +€1,729 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,868 | €1,650 | -€218 | -11.7% |
| Other operating charges | 640/8 | €1,095 | €753 | -€342 | -31.2% |
| Gross operating margin | 9900 | €8,721 | €4,861 | -€3,860 | -44.3% |
| Operating profit (loss) | 9901 | €5,758 | €2,459 | -€3,300 | -57.3% |
| Financial income | 75/76B | €0 | €1 | +€1 | +3133.3% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +3133.3% |
| Financial charges | 65/66B | €279 | €411 | +€132 | +47.4% |
| Recurring financial charges | 65 | €279 | €411 | +€132 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €5,480 | €2,049 | -€3,431 | -62.6% |
| Income taxes | 67/77 | - | €1,213 | +€1,213 | |
| Profit (loss) for the period | 9904 | €5,480 | €836 | -€4,644 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,480 | €836 | -€4,644 | -84.7% |
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 28 September 2026 via checked.be.