AoT: 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.
AoT
Largest movements
- Tangible fixed assets -€45,097
down €45,097 (-33.6%), from €134,024 to €88,928
of which Furniture and vehicles: -€44,881
- Receivables within one year +€21,696
up €21,696 (+8.8%), from €246,664 to €268,360
of which Trade receivables: +€26,000
- Reserves +€39,989
up €39,989 (+4.6%), from €863,863 to €903,852
of which Distributable reserves: +€39,989
- Debts after one year -€25,602
down €25,602 (-79.5%), from €32,204 to €6,602
- Tax, wage and social debts -€18,395
down €18,395 (-83.6%), from €21,995 to €3,600
- Gross operating margin -€36,973
down €36,973 (-19.4%), from €190,393 to €153,419
- Depreciation -€9,748
down €9,748 (-27.4%), from €35,554 to €25,806
- Taxes -€8,501
down €8,501 (-17.9%), from €47,602 to €39,101
- Financial income +€4,443
up €4,443 (+27.9%), from €15,925 to €20,368
of which Financial income: +€6,629
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,386,414 | €1,364,864 | -€21,550 | -1.6% |
| Fixed assets | 21/28 | €1,134,024 | €1,088,928 | -€45,097 | -4.0% |
| Tangible fixed assets | 22/27 | €134,024 | €88,928 | -€45,097 | -33.6% |
| Plant, machinery and equipment | 23 | €2,175 | €1,992 | -€183 | -8.4% |
| Furniture and vehicles | 24 | €130,417 | €85,535 | -€44,881 | -34.4% |
| Other tangible fixed assets | 26 | €1,433 | €1,400 | -€33 | -2.3% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €252,390 | €275,937 | +€23,547 | +9.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €246,664 | €268,360 | +€21,696 | +8.8% |
| Trade receivables | 40 | €0 | €26,000 | +€26,000 | |
| Other amounts receivable | 41 | €246,664 | €242,360 | -€4,304 | -1.7% |
| Cash at bank and in hand | 54/58 | €4,072 | €5,258 | +€1,186 | +29.1% |
| Deferred charges and accrued income | 490/1 | €1,654 | €2,319 | +€665 | +40.2% |
| Total equity and liabilities | 10/49 | €1,386,414 | €1,364,864 | -€21,550 | -1.6% |
| Equity | 10/15 | €881,273 | €921,262 | +€39,989 | +4.5% |
| Contributions | 10/11 | €17,410 | €17,410 | = | 0.0% |
| Reserves | 13 | €863,863 | €903,852 | +€39,989 | +4.6% |
| Tax-exempt reserves | 132 | €26,101 | €26,101 | = | 0.0% |
| Distributable reserves | 133 | €837,762 | €877,751 | +€39,989 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €505,141 | €443,602 | -€61,539 | -12.2% |
| Amounts payable after more than one year | 17 | €32,204 | €6,602 | -€25,602 | -79.5% |
| Financial debts | 170/4 | €32,204 | €6,602 | -€25,602 | -79.5% |
| Amounts payable within one year | 42/48 | €367,901 | €332,484 | -€35,417 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €60,704 | €49,132 | -€11,572 | -19.1% |
| Financial debts | 43 | €511 | €56 | -€455 | -89.1% |
| Credit institutions | 430/8 | €511 | €56 | -€455 | -89.1% |
| Trade debts | 44 | €11,063 | €6,597 | -€4,466 | -40.4% |
| Suppliers | 440/4 | €11,063 | €6,597 | -€4,466 | -40.4% |
| Taxes, remuneration and social security | 45 | €21,995 | €3,600 | -€18,395 | -83.6% |
| Taxes | 450/3 | €21,995 | €3,600 | -€18,395 | -83.6% |
| Other amounts payable | 47/48 | €273,629 | €273,100 | -€529 | -0.2% |
| Accrued charges and deferred income | 492/3 | €105,036 | €104,515 | -€521 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,554 | €25,806 | -€9,748 | -27.4% |
| Other operating charges | 640/8 | €1,554 | €1,107 | -€447 | -28.8% |
| Gross operating margin | 9900 | €190,393 | €153,419 | -€36,973 | -19.4% |
| Operating profit (loss) | 9901 | €153,285 | €126,507 | -€26,778 | -17.5% |
| Financial income | 75/76B | €15,925 | €20,368 | +€4,443 | +27.9% |
| Recurring financial income | 75 | €3,500 | €10,129 | +€6,629 | +189% |
| Non-recurring financial income | 76B | €12,425 | €10,238 | -€2,186 | -17.6% |
| Financial charges | 65/66B | €12,481 | €14,319 | +€1,838 | +14.7% |
| Recurring financial charges | 65 | €12,481 | €14,319 | +€1,838 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €156,728 | €132,555 | -€24,173 | -15.4% |
| Income taxes | 67/77 | €47,602 | €39,101 | -€8,501 | -17.9% |
| Profit (loss) for the period | 9904 | €109,126 | €93,454 | -€15,672 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €109,126 | €93,454 | -€15,672 | -14.4% |
Source: filed annual accounts (NBB), financial years ended 30 November 2023 and 30 November 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.