ALL - AERT: 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.
ALL - AERT
Largest movements
- Cash +€39,043
up €39,043 (+339%), from €11,508 to €50,551
mainly Receivables within one year (+€23,345) and Other debts (+€17,459)
- Receivables within one year -€23,345
down €23,345 (-58.3%), from €40,039 to €16,694
of which Trade receivables: -€19,727
- Tangible fixed assets -€14,091
down €14,091 (-55.1%), from €25,559 to €11,467
of which Furniture and vehicles: -€11,440
- Deferred charges and accrued income -€1,511
down €1,511 (-54.5%), from €2,772 to €1,261
- Reserves -€32,819
down €32,819 (-50.0%), from €65,693 to €32,873
of which Distributable reserves: -€32,819
- Other debts +€17,459
new in 2025: €17,459
- Tax, wage and social debts +€10,136
up €10,136 (+172%), from €5,889 to €16,026
of which Taxes: +€8,136
- Profit (loss) carried forward +€3,391
no longer reported in 2025 (was -€3,391)
- Accrued charges and deferred income +€1,800
new in 2025: €1,800
- Gross operating margin +€47,375
up €47,375, from -€22,210 to €25,165
- Depreciation -€3,536
down €3,536 (-22.9%), from €15,430 to €11,894
- Taxes +€563
up €563 (+147%), from €382 to €945
- Financial income -€554
down €554 (-96.0%), from €577 to €23
- Other operating charges +€304
up €304 (+22.0%), from €1,377 to €1,681
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 | €79,927 | €80,023 | +€96 | +0.1% |
| Fixed assets | 21/28 | €25,608 | €11,517 | -€14,091 | -55.0% |
| Tangible fixed assets | 22/27 | €25,559 | €11,467 | -€14,091 | -55.1% |
| Plant, machinery and equipment | 23 | €2,417 | €1,408 | -€1,010 | -41.8% |
| Furniture and vehicles | 24 | €15,167 | €3,726 | -€11,440 | -75.4% |
| Other tangible fixed assets | 26 | €7,975 | €6,333 | -€1,641 | -20.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €54,319 | €68,506 | +€14,187 | +26.1% |
| Amounts receivable within one year | 40/41 | €40,039 | €16,694 | -€23,345 | -58.3% |
| Trade receivables | 40 | €22,748 | €3,021 | -€19,727 | -86.7% |
| Other amounts receivable | 41 | €17,291 | €13,673 | -€3,617 | -20.9% |
| Cash at bank and in hand | 54/58 | €11,508 | €50,551 | +€39,043 | +339% |
| Deferred charges and accrued income | 490/1 | €2,772 | €1,261 | -€1,511 | -54.5% |
| Total equity and liabilities | 10/49 | €79,927 | €80,023 | +€96 | +0.1% |
| Equity | 10/15 | €69,738 | €40,310 | -€29,428 | -42.2% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €65,693 | €32,873 | -€32,819 | -50.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €63,833 | €31,014 | -€32,819 | -51.4% |
| Profit (loss) carried forward | 14 | -€3,391 | - | +€3,391 | |
| Amounts payable | 17/49 | €10,189 | €39,713 | +€29,524 | +290% |
| Amounts payable within one year | 42/48 | €10,189 | €37,913 | +€27,724 | +272% |
| Financial debts | 43 | €1,575 | €1,667 | +€91 | +5.8% |
| Credit institutions | 430/8 | €1,575 | €1,667 | +€91 | +5.8% |
| Trade debts | 44 | €2,724 | €2,761 | +€37 | +1.4% |
| Suppliers | 440/4 | €2,724 | €2,761 | +€37 | +1.4% |
| Taxes, remuneration and social security | 45 | €5,889 | €16,026 | +€10,136 | +172% |
| Taxes | 450/3 | €5,889 | €14,026 | +€8,136 | +138% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | - | €17,459 | +€17,459 | |
| Accrued charges and deferred income | 492/3 | - | €1,800 | +€1,800 | |
| Non-recurring operating income | 76A | - | €15,802 | +€15,802 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,430 | €11,894 | -€3,536 | -22.9% |
| Other operating charges | 640/8 | €1,377 | €1,681 | +€304 | +22.0% |
| Gross operating margin | 9900 | -€22,210 | €25,165 | +€47,375 | |
| Operating profit (loss) | 9901 | -€39,017 | €11,591 | +€50,608 | |
| Financial income | 75/76B | €577 | €23 | -€554 | -96.0% |
| Recurring financial income | 75 | €577 | €23 | -€554 | -96.0% |
| Financial charges | 65/66B | €691 | €637 | -€54 | -7.8% |
| Recurring financial charges | 65 | €691 | €637 | -€54 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€39,132 | €10,977 | +€50,108 | |
| Income taxes | 67/77 | €382 | €945 | +€563 | +147% |
| Profit (loss) for the period | 9904 | -€39,513 | €10,032 | +€49,545 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,513 | €10,032 | +€49,545 |
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 24 October 2026 via checked.be.