AERTS-SERVICE: what changed
AERTS-SERVICE
Largest movements
- Stocks and contracts +€424,150
up €424,150 (+8.6%), from €4.9m to €5.3m
- Cash +€377,548
up €377,548 (+148%), from €255,325 to €632,873
mainly Depreciation (+€348,927) and Net result for the year (+€302,755)
- Tangible fixed assets -€251,048
down €251,048 (-23.6%), from €1.1m to €810,486
of which Leasing and similar rights: -€155,305
- Receivables within one year -€94,639
down €94,639 (-9.0%), from €1.0m to €953,339
of which Other amounts receivable: -€88,143
- Debts after one year -€364,069
down €364,069 (-20.2%), from €1.8m to €1.4m
- Reserves +€302,755
up €302,755 (+21.7%), from €1.4m to €1.7m
of which Distributable reserves: +€302,755
- Trade debts +€246,034
up €246,034 (+8.9%), from €2.8m to €3.0m
- Current portion of long-term debt +€163,042
up €163,042 (+36.2%), from €450,287 to €613,328
- Tax, wage and social debts +€112,706
up €112,706 (+50.5%), from €223,290 to €335,996
of which Taxes: +€135,291
- Gross operating margin +€261,157
up €261,157 (+20.1%), from €1.3m to €1.6m
- Taxes +€106,266
up €106,266 (+237%), from €44,752 to €151,019
- Financial charges -€45,293
down €45,293 (-17.5%), from €258,228 to €212,936
- Depreciation +€30,416
up €30,416 (+9.5%), from €318,511 to €348,927
- Staff costs -€16,272
down €16,272 (-2.9%), from €554,350 to €538,078
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,290,929 | €7,753,225 | +€462,296 | +6.3% |
| Fixed assets | 21/28 | €1,067,087 | €821,732 | -€245,356 | -23.0% |
| Intangible fixed assets | 21 | €5,553 | €4,375 | -€1,177 | -21.2% |
| Tangible fixed assets | 22/27 | €1,061,535 | €810,486 | -€251,048 | -23.6% |
| Land and buildings | 22 | €16,038 | €57,131 | +€41,092 | +256% |
| Plant, machinery and equipment | 23 | €413,011 | €269,782 | -€143,229 | -34.7% |
| Furniture and vehicles | 24 | €51,994 | €59,745 | +€7,752 | +14.9% |
| Leasing and similar rights | 25 | €577,006 | €421,701 | -€155,305 | -26.9% |
| Other tangible fixed assets | 26 | €3,486 | €2,127 | -€1,358 | -39.0% |
| Financial fixed assets | 28 | - | €6,870 | +€6,870 | |
| Current assets | 29/58 | €6,223,842 | €6,931,493 | +€707,651 | +11.4% |
| Stocks and contracts in progress | 3 | €4,919,555 | €5,343,705 | +€424,150 | +8.6% |
| Stocks | 30/36 | €4,919,555 | €5,343,705 | +€424,150 | +8.6% |
| Amounts receivable within one year | 40/41 | €1,047,978 | €953,339 | -€94,639 | -9.0% |
| Trade receivables | 40 | €759,835 | €753,339 | -€6,496 | -0.9% |
| Other amounts receivable | 41 | €288,143 | €200,000 | -€88,143 | -30.6% |
| Cash at bank and in hand | 54/58 | €255,325 | €632,873 | +€377,548 | +148% |
| Deferred charges and accrued income | 490/1 | €983 | €1,576 | +€593 | +60.3% |
| Total equity and liabilities | 10/49 | €7,290,929 | €7,753,225 | +€462,296 | +6.3% |
| Equity | 10/15 | €1,414,929 | €1,717,684 | +€302,755 | +21.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,394,543 | €1,697,298 | +€302,755 | +21.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €121 | €121 | = | 0.0% |
| Distributable reserves | 133 | €1,392,422 | €1,695,176 | +€302,755 | +21.7% |
| Profit (loss) carried forward | 14 | €386 | €386 | -€0 | 0.0% |
| Amounts payable | 17/49 | €5,876,000 | €6,035,541 | +€159,541 | +2.7% |
| Amounts payable after more than one year | 17 | €1,802,954 | €1,438,884 | -€364,069 | -20.2% |
| Financial debts | 170/4 | €1,802,954 | €1,438,884 | -€364,069 | -20.2% |
| Amounts payable within one year | 42/48 | €4,073,046 | €4,596,657 | +€523,611 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €450,287 | €613,328 | +€163,042 | +36.2% |
| Financial debts | 43 | €626,683 | €551,408 | -€75,275 | -12.0% |
| Credit institutions | 430/8 | €626,683 | €551,408 | -€75,275 | -12.0% |
| Trade debts | 44 | €2,772,786 | €3,018,820 | +€246,034 | +8.9% |
| Suppliers | 440/4 | €2,772,786 | €3,018,820 | +€246,034 | +8.9% |
| Taxes, remuneration and social security | 45 | €223,290 | €335,996 | +€112,706 | +50.5% |
| Taxes | 450/3 | €158,612 | €293,904 | +€135,291 | +85.3% |
| Remuneration and social security | 454/9 | €64,678 | €42,092 | -€22,586 | -34.9% |
| Other amounts payable | 47/48 | - | €77,104 | +€77,104 | |
| Non-recurring operating income | 76A | €13,790 | €7,878 | -€5,912 | -42.9% |
| Remuneration, social security and pensions | 62 | €554,350 | €538,078 | -€16,272 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €318,511 | €348,927 | +€30,416 | +9.5% |
| Other operating charges | 640/8 | €9,922 | €9,363 | -€559 | -5.6% |
| Gross operating margin | 9900 | €1,299,223 | €1,560,380 | +€261,157 | +20.1% |
| Operating profit (loss) | 9901 | €416,440 | €664,012 | +€247,571 | +59.4% |
| Financial income | 75/76B | €4,669 | €2,698 | -€1,971 | -42.2% |
| Recurring financial income | 75 | €4,669 | €2,698 | -€1,971 | -42.2% |
| Financial charges | 65/66B | €258,228 | €212,936 | -€45,293 | -17.5% |
| Recurring financial charges | 65 | €258,228 | €212,936 | -€45,293 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €162,881 | €453,773 | +€290,892 | +179% |
| Income taxes | 67/77 | €44,752 | €151,019 | +€106,266 | +237% |
| Profit (loss) for the period | 9904 | €118,129 | €302,755 | +€184,626 | +156% |
| Profit (loss) for the period to be appropriated | 9905 | €118,129 | €302,755 | +€184,626 | +156% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.