AERTS & STAS: 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 & STAS
Largest movements
- Receivables within one year -€3,365
down €3,365 (-1.1%), from €293,804 to €290,439
of which Other amounts receivable: -€4,000
- Other debts +€24,561
up €24,561 (+45.5%), from €53,980 to €78,541
- Trade debts -€22,283
down €22,283 (-37.4%), from €59,628 to €37,345
- Tax, wage and social debts -€17,726
down €17,726 (-45.2%), from €39,256 to €21,530
of which Remuneration and social security: -€9,259
- Profit (loss) carried forward +€10,123
up €10,123 (+6.6%), from €154,427 to €164,550
- Gross operating margin +€25,784
up €25,784 (+17.7%), from €145,447 to €171,231
- Staff costs +€20,425
up €20,425 (+16.2%), from €125,810 to €146,235
- Financial charges -€7,934
down €7,934 (-66.1%), from €12,008 to €4,074
- Taxes +€2,424
up €2,424 (+303%), from €800 to €3,224
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 | €315,351 | €310,129 | -€5,222 | -1.7% |
| Fixed assets | 21/28 | €9,380 | €6,418 | -€2,962 | -31.6% |
| Tangible fixed assets | 22/27 | €9,380 | €6,418 | -€2,962 | -31.6% |
| Plant, machinery and equipment | 23 | €2,437 | €1,446 | -€991 | -40.7% |
| Furniture and vehicles | 24 | €6,943 | €4,972 | -€1,971 | -28.4% |
| Current assets | 29/58 | €305,971 | €303,711 | -€2,260 | -0.7% |
| Amounts receivable within one year | 40/41 | €293,804 | €290,439 | -€3,365 | -1.1% |
| Trade receivables | 40 | €99,220 | €99,855 | +€635 | +0.6% |
| Other amounts receivable | 41 | €194,584 | €190,584 | -€4,000 | -2.1% |
| Cash at bank and in hand | 54/58 | €11,949 | €12,946 | +€997 | +8.3% |
| Deferred charges and accrued income | 490/1 | €218 | €326 | +€108 | +49.5% |
| Total equity and liabilities | 10/49 | €315,351 | €310,129 | -€5,222 | -1.7% |
| Equity | 10/15 | €162,487 | €172,610 | +€10,123 | +6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,427 | €164,550 | +€10,123 | +6.6% |
| Amounts payable | 17/49 | €152,864 | €137,519 | -€15,345 | -10.0% |
| Amounts payable within one year | 42/48 | €152,864 | €137,416 | -€15,448 | -10.1% |
| Trade debts | 44 | €59,628 | €37,345 | -€22,283 | -37.4% |
| Suppliers | 440/4 | €59,628 | €37,345 | -€22,283 | -37.4% |
| Taxes, remuneration and social security | 45 | €39,256 | €21,530 | -€17,726 | -45.2% |
| Taxes | 450/3 | €27,281 | €18,814 | -€8,467 | -31.0% |
| Remuneration and social security | 454/9 | €11,975 | €2,716 | -€9,259 | -77.3% |
| Other amounts payable | 47/48 | €53,980 | €78,541 | +€24,561 | +45.5% |
| Accrued charges and deferred income | 492/3 | - | €103 | +€103 | |
| Remuneration, social security and pensions | 62 | €125,810 | €146,235 | +€20,425 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,013 | €2,962 | +€949 | +47.1% |
| Other operating charges | 640/8 | €4,608 | €4,640 | +€32 | +0.7% |
| Gross operating margin | 9900 | €145,447 | €171,231 | +€25,784 | +17.7% |
| Operating profit (loss) | 9901 | €13,016 | €17,394 | +€4,378 | +33.6% |
| Financial income | 75/76B | €91 | €27 | -€64 | -70.3% |
| Recurring financial income | 75 | €91 | €27 | -€64 | -70.3% |
| Financial charges | 65/66B | €12,008 | €4,074 | -€7,934 | -66.1% |
| Recurring financial charges | 65 | €12,008 | €4,074 | -€7,934 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | €1,099 | €13,347 | +€12,248 | +1,114% |
| Income taxes | 67/77 | €800 | €3,224 | +€2,424 | +303% |
| Profit (loss) for the period | 9904 | €299 | €10,123 | +€9,824 | +3,286% |
| Profit (loss) for the period to be appropriated | 9905 | €299 | €10,123 | +€9,824 | +3,286% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.