Aerts Realty & Performance: 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 Realty & Performance
Largest movements
- Tangible fixed assets -€115,593
down €115,593 (-31.9%), from €362,886 to €247,292
of which Land and buildings: -€103,959
- Receivables within one year -€39,078
down €39,078 (-79.8%), from €48,939 to €9,862
of which Trade receivables: -€35,088
- Cash +€32,704
up €32,704 (+29.7%), from €110,231 to €142,935
mainly Investment in fixed assets (net) (+€91,394) and Receivables within one year (+€39,078)
- Stocks and contracts +€8,178
new in 2025: €8,178
- Debts after one year -€74,403
down €74,403 (-42.6%), from €174,563 to €100,160
- Reserves -€45,666
down €45,666 (-11.4%), from €400,127 to €354,461
- Other debts +€22,778
up €22,778, from €0 to €22,778
- Tax, wage and social debts -€10,414
down €10,414 (-38.5%), from €27,016 to €16,602
of which Taxes: -€10,414
- Current portion of long-term debt -€10,033
down €10,033 (-33.8%), from €29,711 to €19,678
- Gross operating margin -€26,346
down €26,346 (-32.0%), from €82,401 to €56,055
- Depreciation -€7,733
down €7,733 (-24.2%), from €31,932 to €24,200
- Taxes -€6,083
down €6,083 (-43.6%), from €13,940 to €7,857
- Other operating charges +€1,394
up €1,394 (+35.9%), from €3,877 to €5,271
- Financial charges -€845
down €845 (-13.5%), from €6,243 to €5,398
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 | €645,236 | €537,526 | -€107,710 | -16.7% |
| Fixed assets | 21/28 | €480,823 | €365,230 | -€115,593 | -24.0% |
| Tangible fixed assets | 22/27 | €362,886 | €247,292 | -€115,593 | -31.9% |
| Land and buildings | 22 | €346,142 | €242,183 | -€103,959 | -30.0% |
| Plant, machinery and equipment | 23 | €1,161 | €758 | -€403 | -34.7% |
| Furniture and vehicles | 24 | €12,781 | €1,888 | -€10,892 | -85.2% |
| Other tangible fixed assets | 26 | €2,802 | €2,463 | -€339 | -12.1% |
| Financial fixed assets | 28 | €117,938 | €117,938 | = | 0.0% |
| Current assets | 29/58 | €164,412 | €172,296 | +€7,883 | +4.8% |
| Stocks and contracts in progress | 3 | - | €8,178 | +€8,178 | |
| Stocks | 30/36 | - | €8,178 | +€8,178 | |
| Amounts receivable within one year | 40/41 | €48,939 | €9,862 | -€39,078 | -79.8% |
| Trade receivables | 40 | €44,949 | €9,862 | -€35,088 | -78.1% |
| Other amounts receivable | 41 | €3,990 | €0 | -€3,990 | -100% |
| Cash at bank and in hand | 54/58 | €110,231 | €142,935 | +€32,704 | +29.7% |
| Deferred charges and accrued income | 490/1 | €5,242 | €11,321 | +€6,079 | +116% |
| Total equity and liabilities | 10/49 | €645,236 | €537,526 | -€107,710 | -16.7% |
| Equity | 10/15 | €412,527 | €366,861 | -€45,666 | -11.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €400,127 | €354,461 | -€45,666 | -11.4% |
| Distributable reserves | 133 | €400,127 | €354,461 | -€45,666 | -11.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €232,709 | €170,665 | -€62,044 | -26.7% |
| Amounts payable after more than one year | 17 | €174,563 | €100,160 | -€74,403 | -42.6% |
| Financial debts | 170/4 | €174,563 | €100,160 | -€74,403 | -42.6% |
| Amounts payable within one year | 42/48 | €58,146 | €70,505 | +€12,359 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €29,711 | €19,678 | -€10,033 | -33.8% |
| Financial debts | 43 | €3 | €34 | +€31 | +1,036% |
| Credit institutions | 430/8 | €3 | €34 | +€31 | +1,036% |
| Trade debts | 44 | €1,415 | €11,412 | +€9,997 | +706% |
| Suppliers | 440/4 | €1,415 | €11,412 | +€9,997 | +706% |
| Taxes, remuneration and social security | 45 | €27,016 | €16,602 | -€10,414 | -38.5% |
| Taxes | 450/3 | €24,516 | €14,102 | -€10,414 | -42.5% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €22,778 | +€22,778 | |
| Non-recurring operating income | 76A | - | €49,132 | +€49,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,932 | €24,200 | -€7,733 | -24.2% |
| Other operating charges | 640/8 | €3,877 | €5,271 | +€1,394 | +35.9% |
| Gross operating margin | 9900 | €82,401 | €56,055 | -€26,346 | -32.0% |
| Operating profit (loss) | 9901 | €46,592 | €26,584 | -€20,007 | -42.9% |
| Financial income | 75/76B | €970 | €1,005 | +€34 | +3.5% |
| Recurring financial income | 75 | €970 | €1,005 | +€34 | +3.5% |
| Financial charges | 65/66B | €6,243 | €5,398 | -€845 | -13.5% |
| Recurring financial charges | 65 | €6,243 | €5,398 | -€845 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €41,318 | €22,191 | -€19,127 | -46.3% |
| Income taxes | 67/77 | €13,940 | €7,857 | -€6,083 | -43.6% |
| Profit (loss) for the period | 9904 | €27,378 | €14,334 | -€13,044 | -47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,378 | €14,334 | -€13,044 | -47.6% |
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 17 October 2026 via checked.be.