AERVECO: 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.
AERVECO
Largest movements
- Tangible fixed assets -€117,512
down €117,512 (-29.7%), from €395,935 to €278,423
of which Furniture and vehicles: -€69,660
- Stocks and contracts +€48,625
up €48,625 (+146.0%), from €33,295 to €81,919
of which Contracts in progress: +€30,679
- Receivables within one year -€16,234
down €16,234 (-21.1%), from €77,068 to €60,833
of which Trade receivables: -€9,502
- Deferred charges and accrued income +€5,905
up €5,905 (+125.7%), from €4,697 to €10,601
- Debts after one year -€102,195
down €102,195 (-40.3%), from €253,547 to €151,351
- Other debts +€81,289
up €81,289 (+217.7%), from €37,346 to €118,635
- Profit (loss) carried forward -€79,236
down €79,236 (-45.3%), from -€175,010 to -€254,247
- Trade debts +€11,452
up €11,452 (+6.8%), from €168,638 to €180,090
- Current portion of long-term debt +€10,256
up €10,256 (+8.8%), from €116,339 to €126,595
- Depreciation -€27,206
down €27,206 (-14.5%), from €188,121 to €160,915
- Gross operating margin -€19,580
down €19,580 (-15.5%), from €126,541 to €106,962
- Financial charges -€2,773
down €2,773 (-13.0%), from €21,320 to €18,548
- Staff costs +€2,662
up €2,662 (+82.4%), from €3,231 to €5,894
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 | €512,962 | €434,134 | -€78,828 | -15.4% |
| Fixed assets | 21/28 | €397,285 | €279,773 | -€117,512 | -29.6% |
| Tangible fixed assets | 22/27 | €395,935 | €278,423 | -€117,512 | -29.7% |
| Land and buildings | 22 | €3,752 | €3,542 | -€210 | -5.6% |
| Plant, machinery and equipment | 23 | €55,238 | €31,020 | -€24,218 | -43.8% |
| Furniture and vehicles | 24 | €251,056 | €181,396 | -€69,660 | -27.7% |
| Leasing and similar rights | 25 | €85,888 | €62,464 | -€23,424 | -27.3% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €115,678 | €154,361 | +€38,684 | +33.4% |
| Stocks and contracts in progress | 3 | €33,295 | €81,919 | +€48,625 | +146.0% |
| Stocks | 30/36 | €5,343 | €23,288 | +€17,945 | +335.9% |
| Contracts in progress | 37 | €27,952 | €58,632 | +€30,679 | +109.8% |
| Amounts receivable within one year | 40/41 | €77,068 | €60,833 | -€16,234 | -21.1% |
| Trade receivables | 40 | €54,450 | €44,948 | -€9,502 | -17.5% |
| Other amounts receivable | 41 | €22,617 | €15,885 | -€6,732 | -29.8% |
| Cash at bank and in hand | 54/58 | €619 | €1,008 | +€389 | +62.8% |
| Deferred charges and accrued income | 490/1 | €4,697 | €10,601 | +€5,905 | +125.7% |
| Total equity and liabilities | 10/49 | €512,962 | €434,134 | -€78,828 | -15.4% |
| Equity | 10/15 | -€122,069 | -€201,305 | -€79,236 | -64.9% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €40,538 | €40,538 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €40,538 | €40,538 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€175,010 | -€254,247 | -€79,236 | -45.3% |
| Amounts payable | 17/49 | €635,031 | €635,440 | +€408 | +0.1% |
| Amounts payable after more than one year | 17 | €253,547 | €151,351 | -€102,195 | -40.3% |
| Financial debts | 170/4 | €253,547 | €151,351 | -€102,195 | -40.3% |
| Amounts payable within one year | 42/48 | €381,097 | €483,490 | +€102,393 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €116,339 | €126,595 | +€10,256 | +8.8% |
| Financial debts | 43 | €58,286 | €57,857 | -€428 | -0.7% |
| Credit institutions | 430/8 | €58,286 | €57,857 | -€428 | -0.7% |
| Trade debts | 44 | €168,638 | €180,090 | +€11,452 | +6.8% |
| Suppliers | 440/4 | €168,638 | €180,090 | +€11,452 | +6.8% |
| Taxes, remuneration and social security | 45 | €489 | €312 | -€176 | -36.1% |
| Taxes | 450/3 | €466 | €77 | -€389 | -83.5% |
| Remuneration and social security | 454/9 | €23 | €235 | +€212 | +926.0% |
| Other amounts payable | 47/48 | €37,346 | €118,635 | +€81,289 | +217.7% |
| Accrued charges and deferred income | 492/3 | €387 | €598 | +€211 | +54.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €3,231 | €5,894 | +€2,662 | +82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,121 | €160,915 | -€27,206 | -14.5% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €126,541 | €106,962 | -€19,580 | -15.5% |
| Operating profit (loss) | 9901 | -€65,380 | -€60,432 | +€4,948 | +7.6% |
| Financial income | 75/76B | €3 | €61 | +€58 | +1916.7% |
| Recurring financial income | 75 | €3 | €61 | +€58 | +1916.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €21,320 | €18,548 | -€2,773 | -13.0% |
| Recurring financial charges | 65 | €21,320 | €18,548 | -€2,773 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€86,697 | -€78,919 | +€7,778 | +9.0% |
| Income taxes | 67/77 | €322 | €317 | -€5 | -1.5% |
| Profit (loss) for the period | 9904 | -€87,019 | -€79,236 | +€7,783 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,019 | -€79,236 | +€7,783 | +8.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.