AERTS WILLY: 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.
What changed
AERTS WILLY
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,316
2024 · €124,716-€119,400
Equity
€701,045
2024 · €695,729+€5,316
Cash
€278,573
2024 · €304,250-€25,677
Balance sheet total
€854,550
2024 · €826,774+€27,775
Largest movements
Assets
- Tangible fixed assets +€58,040
up €58,040 (+27.5%), from €211,106 to €269,146
of which Furniture and vehicles: +€36,371
- Cash -€25,677
down €25,677 (-8.4%), from €304,250 to €278,573
mainly Investment in fixed assets (net) (-€135,083) and Provisions (-€5,143)
Equity and liabilities
- Trade debts +€29,628
up €29,628 (+895%), from €3,311 to €32,939
Income statement
- Gross operating margin -€135,471
down €135,471 (-34.7%), from €390,079 to €254,608
- Depreciation +€37,938
up €37,938 (+97.0%), from €39,105 to €77,044
- Taxes -€25,315
down €25,315 (-72.6%), from €34,876 to €9,562
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.
Result 2024
€124,716
Gross operating margin
-€135,471
Staff costs
+€222
Depreciation
-€37,938
Other operating charges
+€2,749
Financial income
+€419
Financial charges
+€2,055
Taxes
+€25,315
Deferred taxes and other
+€23,250
Result 2025
€5,316
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€109,406
Investment
-€135,083
Financing
€0
Cash 2024
€304,250
From operations (derived)
+€109,406
Net result for the year
+€5,316
Depreciation
+€77,044
Receivables within one year
+€4,587
Provisions
-€5,143
Trade debts
+€29,628
Tax, wage and social debts
-€4,531
Other debts
+€2,457
Accrued charges and deferred income
+€48
Investment (derived)
-€135,083
Investment in fixed assets (net)
-€135,083
Cash 2025
€278,573
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €826,774 | €854,550 | +€27,775 | +3.4% |
| Fixed assets | 21/28 | €211,306 | €269,346 | +€58,040 | +27.5% |
| Tangible fixed assets | 22/27 | €211,106 | €269,146 | +€58,040 | +27.5% |
| Land and buildings | 22 | €2,230 | €26,659 | +€24,428 | +1,095% |
| Plant, machinery and equipment | 23 | €4,599 | €1,839 | -€2,759 | -60.0% |
| Furniture and vehicles | 24 | €204,277 | €240,648 | +€36,371 | +17.8% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €615,468 | €585,204 | -€30,264 | -4.9% |
| Amounts receivable within one year | 40/41 | €76,303 | €71,716 | -€4,587 | -6.0% |
| Trade receivables | 40 | €66,984 | €63,716 | -€3,268 | -4.9% |
| Other amounts receivable | 41 | €9,319 | €8,000 | -€1,319 | -14.2% |
| Current investments | 50/53 | €234,915 | €234,915 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €304,250 | €278,573 | -€25,677 | -8.4% |
| Total equity and liabilities | 10/49 | €826,774 | €854,550 | +€27,775 | +3.4% |
| Equity | 10/15 | €695,729 | €701,045 | +€5,316 | +0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €676,195 | €681,511 | +€5,316 | +0.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,878 | €57,449 | -€15,429 | -21.2% |
| Distributable reserves | 133 | €601,457 | €622,203 | +€20,745 | +3.4% |
| Profit (loss) carried forward | 14 | €942 | €942 | = | 0.0% |
| Provisions and deferred taxes | 16 | €21,907 | €16,764 | -€5,143 | -23.5% |
| Deferred taxes | 168 | €21,907 | €16,764 | -€5,143 | -23.5% |
| Amounts payable | 17/49 | €109,138 | €136,740 | +€27,602 | +25.3% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €67,351 | €94,904 | +€27,553 | +40.9% |
| Trade debts | 44 | €3,311 | €32,939 | +€29,628 | +895% |
| Suppliers | 440/4 | €3,311 | €32,939 | +€29,628 | +895% |
| Taxes, remuneration and social security | 45 | €55,511 | €50,979 | -€4,531 | -8.2% |
| Taxes | 450/3 | €42,652 | €37,260 | -€5,392 | -12.6% |
| Remuneration and social security | 454/9 | €12,859 | €13,719 | +€860 | +6.7% |
| Other amounts payable | 47/48 | €8,529 | €10,985 | +€2,457 | +28.8% |
| Accrued charges and deferred income | 492/3 | €1,788 | €1,836 | +€48 | +2.7% |
| Non-recurring operating income | 76A | €77,500 | €1,500 | -€76,000 | -98.1% |
| Remuneration, social security and pensions | 62 | €153,948 | €153,726 | -€222 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,105 | €77,044 | +€37,938 | +97.0% |
| Other operating charges | 640/8 | €23,008 | €20,259 | -€2,749 | -11.9% |
| Gross operating margin | 9900 | €390,079 | €254,608 | -€135,471 | -34.7% |
| Operating profit (loss) | 9901 | €174,018 | €3,579 | -€170,439 | -97.9% |
| Financial income | 75/76B | €5,888 | €6,307 | +€419 | +7.1% |
| Recurring financial income | 75 | €5,888 | €6,307 | +€419 | +7.1% |
| Financial charges | 65/66B | €2,206 | €151 | -€2,055 | -93.2% |
| Recurring financial charges | 65 | €2,206 | €151 | -€2,055 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | €177,700 | €9,735 | -€167,964 | -94.5% |
| Transfer from deferred taxes | 780 | €1,268 | €5,143 | +€3,875 | +306% |
| Transfer to deferred taxes | 680 | €19,375 | - | -€19,375 | |
| Income taxes | 67/77 | €34,876 | €9,562 | -€25,315 | -72.6% |
| Profit (loss) for the period | 9904 | €124,716 | €5,316 | -€119,400 | -95.7% |
| Transfer from tax-exempt reserves | 789 | €3,804 | €15,429 | +€11,625 | +306% |
| Transfer to tax-exempt reserves | 689 | €58,125 | - | -€58,125 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,395 | €20,745 | -€49,650 | -70.5% |
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 23 October 2026 via checked.be.