AEVP: 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.
AEVP
Largest movements
- Receivables within one year +€27,897
up €27,897 (+51.9%), from €53,784 to €81,681
of which Trade receivables: +€33,617
- Cash -€25,345
down €25,345 (-63.9%), from €39,674 to €14,329
mainly Receivables within one year (-€27,897) and Contributions, distributions and other (-€25,885)
- Tangible fixed assets +€14,303
up €14,303 (+15.2%), from €93,867 to €108,170
of which Other tangible fixed assets: +€14,529
- Other debts +€28,901
up €28,901 (+112%), from €25,842 to €54,743
- Reserves -€25,076
down €25,076 (-18.9%), from €132,843 to €107,767
of which Distributable reserves: -€25,076
- Debts after one year +€7,047
up €7,047 (+12.0%), from €58,582 to €65,629
- Short-term financial debts -€6,306
no longer reported in 2025 (was €6,306)
- Tax, wage and social debts +€5,826
up €5,826 (+915%), from €637 to €6,463
of which Remuneration and social security: +€5,483
- Staff costs -€32,112
down €32,112 (-19.6%), from €163,581 to €131,469
- Gross operating margin -€28,348
down €28,348 (-16.1%), from €176,096 to €147,748
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 | €299,454 | €315,131 | +€15,677 | +5.2% |
| Fixed assets | 21/28 | €93,867 | €108,170 | +€14,303 | +15.2% |
| Tangible fixed assets | 22/27 | €93,867 | €108,170 | +€14,303 | +15.2% |
| Plant, machinery and equipment | 23 | €356 | €1,075 | +€719 | +202% |
| Furniture and vehicles | 24 | €4,874 | €3,929 | -€945 | -19.4% |
| Other tangible fixed assets | 26 | €88,637 | €103,166 | +€14,529 | +16.4% |
| Current assets | 29/58 | €205,587 | €206,961 | +€1,374 | +0.7% |
| Stocks and contracts in progress | 3 | €111,650 | €108,650 | -€3,000 | -2.7% |
| Stocks | 30/36 | €51,650 | €48,650 | -€3,000 | -5.8% |
| Contracts in progress | 37 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,784 | €81,681 | +€27,897 | +51.9% |
| Trade receivables | 40 | €21,333 | €54,950 | +€33,617 | +158% |
| Other amounts receivable | 41 | €32,451 | €26,731 | -€5,720 | -17.6% |
| Cash at bank and in hand | 54/58 | €39,674 | €14,329 | -€25,345 | -63.9% |
| Deferred charges and accrued income | 490/1 | €479 | €2,301 | +€1,822 | +380% |
| Total equity and liabilities | 10/49 | €299,454 | €315,131 | +€15,677 | +5.2% |
| Equity | 10/15 | €139,043 | €113,967 | -€25,076 | -18.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €132,843 | €107,767 | -€25,076 | -18.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €130,983 | €105,907 | -€25,076 | -19.1% |
| Amounts payable | 17/49 | €160,411 | €201,164 | +€40,753 | +25.4% |
| Amounts payable after more than one year | 17 | €58,582 | €65,629 | +€7,047 | +12.0% |
| Financial debts | 170/4 | €58,582 | €65,629 | +€7,047 | +12.0% |
| Amounts payable within one year | 42/48 | €101,829 | €135,535 | +€33,706 | +33.1% |
| Current portion of amounts payable after more than one year | 42 | €16,468 | €14,400 | -€2,068 | -12.6% |
| Financial debts | 43 | €6,306 | - | -€6,306 | |
| Credit institutions | 430/8 | €6,306 | - | -€6,306 | |
| Trade debts | 44 | €48,668 | €53,256 | +€4,588 | +9.4% |
| Suppliers | 440/4 | €48,668 | €53,256 | +€4,588 | +9.4% |
| Advances received on contracts in progress | 46 | €3,908 | €6,673 | +€2,765 | +70.8% |
| Taxes, remuneration and social security | 45 | €637 | €6,463 | +€5,826 | +915% |
| Taxes | 450/3 | €637 | €980 | +€343 | +53.8% |
| Remuneration and social security | 454/9 | - | €5,483 | +€5,483 | |
| Other amounts payable | 47/48 | €25,842 | €54,743 | +€28,901 | +112% |
| Remuneration, social security and pensions | 62 | €163,581 | €131,469 | -€32,112 | -19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,389 | €7,811 | +€1,422 | +22.3% |
| Other operating charges | 640/8 | €1,219 | €1,442 | +€223 | +18.3% |
| Gross operating margin | 9900 | €176,096 | €147,748 | -€28,348 | -16.1% |
| Operating profit (loss) | 9901 | €4,907 | €7,026 | +€2,119 | +43.2% |
| Financial income | 75/76B | €1,253 | €3 | -€1,250 | -99.8% |
| Recurring financial income | 75 | €1,253 | €3 | -€1,250 | -99.8% |
| Financial charges | 65/66B | €3,710 | €5,137 | +€1,427 | +38.5% |
| Recurring financial charges | 65 | €3,710 | €5,137 | +€1,427 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €2,450 | €1,892 | -€558 | -22.8% |
| Income taxes | 67/77 | €930 | €1,083 | +€153 | +16.5% |
| Profit (loss) for the period | 9904 | €1,520 | €809 | -€711 | -46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,520 | €809 | -€711 | -46.8% |
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 22 October 2026 via checked.be.