AESTATE: 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.
AESTATE
Largest movements
- Stocks and contracts -€578,374
no longer reported in 2025 (was €578,374)
- Tangible fixed assets +€566,090
new in 2025: €566,090
- Cash -€47,971
down €47,971 (-55.3%), from €86,695 to €38,724
mainly Investment in fixed assets (net) (-€574,299) and Tax, wage and social debts (-€65,452)
- Receivables within one year +€45,500
new in 2025: €45,500
- Debts after one year +€74,280
up €74,280 (+24.4%), from €305,000 to €379,280
- Tax, wage and social debts -€65,452
down €65,452 (-93.3%), from €70,145 to €4,693
- Profit (loss) carried forward -€26,501
down €26,501 (-14.9%), from €177,776 to €151,275
- Gross operating margin -€41,666
down €41,666 (-75.0%), from €55,521 to €13,854
- Depreciation +€8,210
new in 2025: €8,210
- Financial charges -€6,532
down €6,532 (-19.4%), from €33,713 to €27,181
- Taxes -€4,693
no longer reported in 2025 (was €4,693)
- Other operating charges +€4,002
up €4,002 (+413.6%), from €968 to €4,969
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 | €665,069 | €650,314 | -€14,756 | -2.2% |
| Fixed assets | 21/28 | - | €566,090 | +€566,090 | |
| Tangible fixed assets | 22/27 | - | €566,090 | +€566,090 | |
| Land and buildings | 22 | - | €566,090 | +€566,090 | |
| Current assets | 29/58 | €665,069 | €84,224 | -€580,846 | -87.3% |
| Stocks and contracts in progress | 3 | €578,374 | - | -€578,374 | |
| Stocks | 30/36 | €578,374 | - | -€578,374 | |
| Amounts receivable within one year | 40/41 | - | €45,500 | +€45,500 | |
| Other amounts receivable | 41 | - | €45,500 | +€45,500 | |
| Cash at bank and in hand | 54/58 | €86,695 | €38,724 | -€47,971 | -55.3% |
| Total equity and liabilities | 10/49 | €665,069 | €650,314 | -€14,756 | -2.2% |
| Equity | 10/15 | €268,336 | €241,835 | -€26,501 | -9.9% |
| Contributions | 10/11 | €90,559 | €90,559 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177,776 | €151,275 | -€26,501 | -14.9% |
| Amounts payable | 17/49 | €396,734 | €408,479 | +€11,745 | +3.0% |
| Amounts payable after more than one year | 17 | €305,000 | €379,280 | +€74,280 | +24.4% |
| Financial debts | 170/4 | €305,000 | €379,280 | +€74,280 | +24.4% |
| Amounts payable within one year | 42/48 | €90,766 | €28,201 | -€62,566 | -68.9% |
| Trade debts | 44 | €16,437 | €16,060 | -€377 | -2.3% |
| Suppliers | 440/4 | €16,437 | €16,060 | -€377 | -2.3% |
| Taxes, remuneration and social security | 45 | €70,145 | €4,693 | -€65,452 | -93.3% |
| Taxes | 450/3 | €70,145 | €4,693 | -€65,452 | -93.3% |
| Other amounts payable | 47/48 | €4,185 | €7,448 | +€3,263 | +78.0% |
| Accrued charges and deferred income | 492/3 | €968 | €998 | +€31 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,210 | +€8,210 | |
| Other operating charges | 640/8 | €968 | €4,969 | +€4,002 | +413.6% |
| Gross operating margin | 9900 | €55,521 | €13,854 | -€41,666 | -75.0% |
| Operating profit (loss) | 9901 | €54,553 | €676 | -€53,877 | -98.8% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €33,713 | €27,181 | -€6,532 | -19.4% |
| Recurring financial charges | 65 | €33,713 | €27,181 | -€6,532 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €20,840 | -€26,501 | -€47,341 | |
| Income taxes | 67/77 | €4,693 | - | -€4,693 | |
| Profit (loss) for the period | 9904 | €16,147 | -€26,501 | -€42,648 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,147 | -€26,501 | -€42,648 |
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 10 October 2026 via checked.be.