AERTS WONEN: 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 WONEN
Largest movements
- Stocks and contracts +€286,162
up €286,162 (+1,734%), from €16,500 to €302,662
of which Stocks: +€286,162
- Cash -€134,536
down €134,536 (-98.4%), from €136,746 to €2,210
mainly Stocks and contracts (-€286,162) and Trade debts (-€53,795)
- Tangible fixed assets +€14,079
up €14,079 (+3.8%), from €366,908 to €380,987
of which Land and buildings: +€60,747
- Receivables within one year +€13,190
up €13,190 (+18.8%), from €70,004 to €83,194
of which Trade receivables: +€22,959
- Short-term financial debts +€180,155
up €180,155 (+1,288,664%), from €14 to €180,169
- Trade debts -€53,795
down €53,795 (-71.7%), from €74,999 to €21,204
- Tax, wage and social debts +€24,577
up €24,577, from €0 to €24,577
- Reserves +€22,544
up €22,544 (+21.2%), from €106,158 to €128,702
- Debts after one year +€16,401
up €16,401 (+4.8%), from €342,009 to €358,409
- Gross operating margin -€49,635
down €49,635 (-36.3%), from €136,631 to €86,997
- Taxes -€12,667
down €12,667 (-51.3%), from €24,669 to €12,002
- Depreciation -€8,500
down €8,500 (-20.9%), from €40,575 to €32,075
- Other operating charges -€1,563
down €1,563 (-43.2%), from €3,618 to €2,055
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 | €594,728 | €775,331 | +€180,603 | +30.4% |
| Fixed assets | 21/28 | €367,080 | €380,987 | +€13,908 | +3.8% |
| Intangible fixed assets | 21 | €171 | €0 | -€171 | -100% |
| Tangible fixed assets | 22/27 | €366,908 | €380,987 | +€14,079 | +3.8% |
| Land and buildings | 22 | €245,268 | €306,015 | +€60,747 | +24.8% |
| Plant, machinery and equipment | 23 | €16,610 | €11,009 | -€5,601 | -33.7% |
| Furniture and vehicles | 24 | €62,020 | €48,432 | -€13,588 | -21.9% |
| Leasing and similar rights | 25 | €34,458 | €5,187 | -€29,271 | -84.9% |
| Other tangible fixed assets | 26 | €8,552 | €10,344 | +€1,792 | +21.0% |
| Current assets | 29/58 | €227,648 | €394,344 | +€166,696 | +73.2% |
| Stocks and contracts in progress | 3 | €16,500 | €302,662 | +€286,162 | +1,734% |
| Stocks | 30/36 | €16,500 | €302,662 | +€286,162 | +1,734% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €70,004 | €83,194 | +€13,190 | +18.8% |
| Trade receivables | 40 | €59,724 | €82,683 | +€22,959 | +38.4% |
| Other amounts receivable | 41 | €10,280 | €511 | -€9,769 | -95.0% |
| Cash at bank and in hand | 54/58 | €136,746 | €2,210 | -€134,536 | -98.4% |
| Deferred charges and accrued income | 490/1 | €4,398 | €6,279 | +€1,881 | +42.8% |
| Total equity and liabilities | 10/49 | €594,728 | €775,331 | +€180,603 | +30.4% |
| Equity | 10/15 | €126,158 | €148,702 | +€22,544 | +17.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €106,158 | €128,702 | +€22,544 | +21.2% |
| Distributable reserves | 133 | €106,158 | €128,702 | +€22,544 | +21.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €468,570 | €626,629 | +€158,059 | +33.7% |
| Amounts payable after more than one year | 17 | €342,009 | €358,409 | +€16,401 | +4.8% |
| Financial debts | 170/4 | €342,009 | €358,409 | +€16,401 | +4.8% |
| Amounts payable within one year | 42/48 | €126,562 | €268,220 | +€141,658 | +112% |
| Current portion of amounts payable after more than one year | 42 | €31,121 | €26,546 | -€4,575 | -14.7% |
| Financial debts | 43 | €14 | €180,169 | +€180,155 | +1,288,664% |
| Credit institutions | 430/8 | €14 | €180,169 | +€180,155 | +1,288,664% |
| Trade debts | 44 | €74,999 | €21,204 | -€53,795 | -71.7% |
| Suppliers | 440/4 | €74,999 | €21,204 | -€53,795 | -71.7% |
| Taxes, remuneration and social security | 45 | €0 | €24,577 | +€24,577 | |
| Taxes | 450/3 | €0 | €24,577 | +€24,577 | |
| Other amounts payable | 47/48 | €20,427 | €15,724 | -€4,704 | -23.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €88,577 | €0 | -€88,577 | -100% |
| Remuneration, social security and pensions | 62 | €804 | €780 | -€24 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,575 | €32,075 | -€8,500 | -20.9% |
| Other operating charges | 640/8 | €3,618 | €2,055 | -€1,563 | -43.2% |
| Non-recurring operating charges | 66A | €1,489 | €4,212 | +€2,724 | +183% |
| Gross operating margin | 9900 | €136,631 | €86,997 | -€49,635 | -36.3% |
| Operating profit (loss) | 9901 | €90,145 | €47,873 | -€42,272 | -46.9% |
| Financial income | 75/76B | €215 | €729 | +€514 | +239% |
| Recurring financial income | 75 | €215 | €729 | +€514 | +239% |
| Financial charges | 65/66B | €13,340 | €14,056 | +€716 | +5.4% |
| Recurring financial charges | 65 | €13,340 | €14,056 | +€716 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €77,020 | €34,546 | -€42,474 | -55.1% |
| Income taxes | 67/77 | €24,669 | €12,002 | -€12,667 | -51.3% |
| Profit (loss) for the period | 9904 | €52,351 | €22,544 | -€29,807 | -56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €52,351 | €22,544 | -€29,807 | -56.9% |
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 13 October 2026 via checked.be.