Aertsen: what changed
Two fiscal 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.
Aertsen
Largest movements
- Receivables within one year -€78,216
down €78,216 (-24.2%), from €323,664 to €245,447
of which Other amounts receivable: -€80,085
- Cash +€15,704
up €15,704 (+74.9%), from €20,964 to €36,668
mainly Receivables within one year (+€78,216) and Net result for the year (+€13,347)
- Trade debts -€86,712
down €86,712 (-60.9%), from €142,295 to €55,584
- Reserves +€13,347
up €13,347 (+7.6%), from €174,741 to €188,088
- Other debts +€10,555
up €10,555 (+57.7%), from €18,295 to €28,850
- Gross operating margin +€4,970
up €4,970 (+28.9%), from €17,226 to €22,196
- Taxes +€2,383
up €2,383 (+40.3%), from €5,915 to €8,298
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.
Cash bridge derived
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 | €344,628 | €282,115 | -€62,513 | -18.1% |
| Current assets | 29/58 | €344,628 | €282,115 | -€62,513 | -18.1% |
| Amounts receivable within one year | 40/41 | €323,664 | €245,447 | -€78,216 | -24.2% |
| Trade receivables | 40 | - | €1,869 | +€1,869 | |
| Other amounts receivable | 41 | €323,664 | €243,579 | -€80,085 | -24.7% |
| Cash at bank and in hand | 54/58 | €20,964 | €36,668 | +€15,704 | +74.9% |
| Total equity and liabilities | 10/49 | €344,628 | €282,115 | -€62,513 | -18.1% |
| Equity | 10/15 | €184,037 | €197,384 | +€13,347 | +7.3% |
| Contributions | 10/11 | €9,296 | €9,296 | = | 0.0% |
| Reserves | 13 | €174,741 | €188,088 | +€13,347 | +7.6% |
| Distributable reserves | 133 | €174,741 | €188,088 | +€13,347 | +7.6% |
| Amounts payable | 17/49 | €160,590 | €84,731 | -€75,859 | -47.2% |
| Amounts payable within one year | 42/48 | €160,590 | €84,731 | -€75,859 | -47.2% |
| Trade debts | 44 | €142,295 | €55,584 | -€86,712 | -60.9% |
| Suppliers | 440/4 | €142,295 | €55,584 | -€86,712 | -60.9% |
| Taxes, remuneration and social security | 45 | - | €298 | +€298 | |
| Taxes | 450/3 | - | €298 | +€298 | |
| Other amounts payable | 47/48 | €18,295 | €28,850 | +€10,555 | +57.7% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €17,226 | €22,196 | +€4,970 | +28.9% |
| Operating profit (loss) | 9901 | €16,721 | €21,676 | +€4,956 | +29.6% |
| Financial charges | 65/66B | €31 | €32 | +€2 | +4.9% |
| Recurring financial charges | 65 | €31 | €32 | +€2 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €16,690 | €21,644 | +€4,954 | +29.7% |
| Income taxes | 67/77 | €5,915 | €8,298 | +€2,383 | +40.3% |
| Profit (loss) for the period | 9904 | €10,775 | €13,347 | +€2,572 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,775 | €13,347 | +€2,572 | +23.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.