AOP beheer: 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.
AOP beheer
Largest movements
- Financial fixed assets +€102,379
up €102,379 (+33.0%), from €310,000 to €412,379
- Cash +€21,169
up €21,169 (+97.0%), from €21,822 to €42,990
mainly Net result for the year (+€96,611) and Trade debts (+€19,505)
- Tangible fixed assets -€10,485
down €10,485 (-3.3%), from €318,211 to €307,726
of which Land and buildings: -€7,587
- Reserves +€93,053
up €93,053 (+22.1%), from €421,571 to €514,624
of which Distributable reserves: +€91,431
- Trade debts +€19,505
up €19,505 (+991.7%), from €1,967 to €21,471
- Other debts +€11,358
up €11,358 (+18.2%), from €62,575 to €73,933
- Provisions -€9,020
down €9,020 (-11.7%), from €77,082 to €68,063
of which Provisions for liabilities and charges: -€9,560
- Gross operating margin -€278,838
down €278,838 (-69.8%), from €399,573 to €120,735
- Provisions -€22,178
down €22,178, from €18,175 to -€4,003
- Financial income +€21,397
up €21,397 (+124254.5%), from €17 to €21,414
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 | €661,425 | €775,892 | +€114,467 | +17.3% |
| Fixed assets | 21/28 | €628,211 | €720,105 | +€91,894 | +14.6% |
| Tangible fixed assets | 22/27 | €318,211 | €307,726 | -€10,485 | -3.3% |
| Land and buildings | 22 | €252,825 | €245,238 | -€7,587 | -3.0% |
| Plant, machinery and equipment | 23 | €61,893 | €61,416 | -€477 | -0.8% |
| Furniture and vehicles | 24 | €3,493 | €1,072 | -€2,421 | -69.3% |
| Financial fixed assets | 28 | €310,000 | €412,379 | +€102,379 | +33.0% |
| Current assets | 29/58 | €33,214 | €55,787 | +€22,574 | +68.0% |
| Amounts receivable within one year | 40/41 | €11,392 | €12,797 | +€1,405 | +12.3% |
| Trade receivables | 40 | €5,392 | €469 | -€4,923 | -91.3% |
| Other amounts receivable | 41 | €6,000 | €12,328 | +€6,328 | +105.5% |
| Cash at bank and in hand | 54/58 | €21,822 | €42,990 | +€21,169 | +97.0% |
| Total equity and liabilities | 10/49 | €661,425 | €775,892 | +€114,467 | +17.3% |
| Equity | 10/15 | €491,571 | €584,624 | +€93,053 | +18.9% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €421,571 | €514,624 | +€93,053 | +22.1% |
| Tax-exempt reserves | 132 | €183,789 | €185,411 | +€1,623 | +0.9% |
| Distributable reserves | 133 | €237,782 | €329,213 | +€91,431 | +38.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €77,082 | €68,063 | -€9,020 | -11.7% |
| Provisions for liabilities and charges | 160/5 | €19,908 | €10,348 | -€9,560 | -48.0% |
| Major repairs and maintenance | 162 | €12,000 | €10,000 | -€2,000 | -16.7% |
| Other liabilities and charges | 164/5 | €7,908 | €348 | -€7,560 | -95.6% |
| Deferred taxes | 168 | €57,174 | €57,715 | +€541 | +0.9% |
| Amounts payable | 17/49 | €92,771 | €123,205 | +€30,434 | +32.8% |
| Amounts payable after more than one year | 17 | €800 | €800 | = | 0.0% |
| Other amounts payable | 178/9 | €800 | €800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €91,971 | €122,405 | +€30,434 | +33.1% |
| Trade debts | 44 | €1,967 | €21,471 | +€19,505 | +991.7% |
| Suppliers | 440/4 | €1,967 | €21,471 | +€19,505 | +991.7% |
| Advances received on contracts in progress | 46 | - | €950 | +€950 | |
| Taxes, remuneration and social security | 45 | €27,429 | €26,050 | -€1,379 | -5.0% |
| Taxes | 450/3 | €27,429 | €26,050 | -€1,379 | -5.0% |
| Other amounts payable | 47/48 | €62,575 | €73,933 | +€11,358 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,075 | €15,545 | +€1,469 | +10.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €18,175 | -€4,003 | -€22,178 | |
| Other operating charges | 640/8 | €9,356 | €7,309 | -€2,047 | -21.9% |
| Gross operating margin | 9900 | €399,573 | €120,735 | -€278,838 | -69.8% |
| Operating profit (loss) | 9901 | €357,966 | €101,884 | -€256,082 | -71.5% |
| Financial income | 75/76B | €17 | €21,414 | +€21,397 | +124254.5% |
| Recurring financial income | 75 | €17 | €21,414 | +€21,397 | +124254.5% |
| Financial charges | 65/66B | €366 | €3,472 | +€3,105 | +847.9% |
| Recurring financial charges | 65 | €366 | €3,472 | +€3,105 | +847.9% |
| Profit (loss) for the period before taxes | 9903 | €357,617 | €119,827 | -€237,791 | -66.5% |
| Transfer from deferred taxes | 780 | €2,381 | €3,017 | +€636 | +26.7% |
| Transfer to deferred taxes | 680 | €59,555 | - | -€59,555 | |
| Income taxes | 67/77 | €27,358 | €26,233 | -€1,125 | -4.1% |
| Profit (loss) for the period | 9904 | €273,085 | €96,611 | -€176,475 | -64.6% |
| Transfer from tax-exempt reserves | 789 | €7,142 | €9,050 | +€1,909 | +26.7% |
| Transfer to tax-exempt reserves | 689 | €178,664 | €14,231 | -€164,433 | -92.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,563 | €91,431 | -€10,132 | -10.0% |
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 9 October 2026 via checked.be.