AERTS RETAIL: 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 RETAIL
Largest movements
- Receivables within one year +€221,947
new in 2025: €221,947
- Reserves +€3.7m
up €3.7m (+54.6%), from €6.7m to €10.4m
- Other debts -€2.6m
down €2.6m (-77.4%), from €3.4m to €771,563
- Debts after one year -€754,263
down €754,263 (-56.5%), from €1.3m to €581,451
of which Financial debts: -€754,263
- Financial income +€4.0m
new in 2025: €4.0m
- Gross operating margin +€50,266
up €50,266 (+57.4%), from €87,526 to €137,792
- Financial charges -€8,890
down €8,890 (-13.5%), from €65,703 to €56,813
- Depreciation +€8,787
up €8,787 (+593%), from €1,482 to €10,270
- Other operating charges +€1,968
up €1,968 (+138%), from €1,431 to €3,399
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 | €12,419,501 | €12,698,534 | +€279,033 | +2.2% |
| Fixed assets | 21/28 | €12,408,241 | €12,452,623 | +€44,382 | +0.4% |
| Tangible fixed assets | 22/27 | €8,241 | €52,623 | +€44,382 | +539% |
| Furniture and vehicles | 24 | €8,241 | - | -€8,241 | |
| Leasing and similar rights | 25 | - | €52,623 | +€52,623 | |
| Financial fixed assets | 28 | €12,400,000 | €12,400,000 | = | 0.0% |
| Current assets | 29/58 | €11,260 | €245,911 | +€234,651 | +2,084% |
| Amounts receivable within one year | 40/41 | - | €221,947 | +€221,947 | |
| Other amounts receivable | 41 | - | €221,947 | +€221,947 | |
| Cash at bank and in hand | 54/58 | €10,927 | €23,694 | +€12,767 | +117% |
| Deferred charges and accrued income | 490/1 | €333 | €271 | -€62 | -18.7% |
| Total equity and liabilities | 10/49 | €12,419,501 | €12,698,534 | +€279,033 | +2.2% |
| Equity | 10/15 | €6,833,841 | €10,510,813 | +€3.7m | +53.8% |
| Contributions | 10/11 | €102,000 | €102,000 | = | 0.0% |
| Reserves | 13 | €6,731,841 | €10,408,813 | +€3.7m | +54.6% |
| Distributable reserves | 133 | €6,731,841 | €10,408,813 | +€3.7m | +54.6% |
| Amounts payable | 17/49 | €5,585,660 | €2,187,721 | -€3.4m | -60.8% |
| Amounts payable after more than one year | 17 | €1,335,714 | €581,451 | -€754,263 | -56.5% |
| Financial debts | 170/4 | €785,714 | €31,451 | -€754,263 | -96.0% |
| Other amounts payable | 178/9 | €550,000 | €550,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,216,606 | €1,574,147 | -€2.6m | -62.7% |
| Current portion of amounts payable after more than one year | 42 | €785,714 | €798,492 | +€12,778 | +1.6% |
| Trade debts | 44 | €2,264 | €813 | -€1,451 | -64.1% |
| Suppliers | 440/4 | €2,264 | €813 | -€1,451 | -64.1% |
| Taxes, remuneration and social security | 45 | €13,994 | €3,278 | -€10,716 | -76.6% |
| Taxes | 450/3 | €13,994 | €3,278 | -€10,716 | -76.6% |
| Other amounts payable | 47/48 | €3,414,633 | €771,563 | -€2.6m | -77.4% |
| Accrued charges and deferred income | 492/3 | €33,340 | €32,123 | -€1,217 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,482 | €10,270 | +€8,787 | +593% |
| Other operating charges | 640/8 | €1,431 | €3,399 | +€1,968 | +138% |
| Gross operating margin | 9900 | €87,526 | €137,792 | +€50,266 | +57.4% |
| Operating profit (loss) | 9901 | €84,612 | €124,124 | +€39,511 | +46.7% |
| Financial income | 75/76B | - | €4,000,000 | +€4.0m | |
| Recurring financial income | 75 | - | €4,000,000 | +€4.0m | |
| Financial charges | 65/66B | €65,703 | €56,813 | -€8,890 | -13.5% |
| Recurring financial charges | 65 | €65,703 | €56,813 | -€8,890 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €18,910 | €4,067,311 | +€4.0m | +21,409% |
| Income taxes | 67/77 | €214 | €339 | +€125 | +58.3% |
| Profit (loss) for the period | 9904 | €18,696 | €4,066,972 | +€4.0m | +21,654% |
| Profit (loss) for the period to be appropriated | 9905 | €18,696 | €4,066,972 | +€4.0m | +21,654% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.