AQUILA: 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.
AQUILA
Largest movements
- Stocks and contracts -€1.5m
down €1.5m (-81.7%), from €1.8m to €330,461
of which Stocks: -€1.2m
- Receivables within one year -€101,844
down €101,844 (-100%), from €101,844 to €0
of which Other amounts receivable: -€55,526
- Tangible fixed assets -€45,071
down €45,071 (-6.3%), from €716,270 to €671,199
of which Land and buildings: -€44,611
- Debts after one year -€841,034
down €841,034 (-53.8%), from €1.6m to €720,837
- Profit (loss) carried forward -€659,879
down €659,879 (-304%), from -€216,803 to -€876,682
- Other debts -€159,577
down €159,577 (-17.4%), from €918,988 to €759,411
- Tax, wage and social debts +€86,258
up €86,258 (+871%), from €9,899 to €96,157
of which Taxes: +€87,570
- Trade debts -€41,039
down €41,039 (-76.9%), from €53,382 to €12,343
- Gross operating margin -€593,610
down €593,610, from €101,354 to -€492,256
- Financial charges -€176,674
down €176,674 (-74.5%), from €237,052 to €60,377
- Staff costs -€32,979
down €32,979 (-100%), from €32,979 to €0
- Other operating charges +€9,657
up €9,657 (+51.5%), from €18,758 to €28,415
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 | €2,626,366 | €1,006,131 | -€1.6m | -61.7% |
| Fixed assets | 21/28 | €717,130 | €671,699 | -€45,431 | -6.3% |
| Tangible fixed assets | 22/27 | €716,270 | €671,199 | -€45,071 | -6.3% |
| Land and buildings | 22 | €715,119 | €670,508 | -€44,611 | -6.2% |
| Plant, machinery and equipment | 23 | €615 | €369 | -€246 | -40.0% |
| Furniture and vehicles | 24 | €536 | €322 | -€214 | -40.0% |
| Financial fixed assets | 28 | €860 | €500 | -€360 | -41.9% |
| Current assets | 29/58 | €1,909,236 | €334,432 | -€1.6m | -82.5% |
| Stocks and contracts in progress | 3 | €1,802,107 | €330,461 | -€1.5m | -81.7% |
| Stocks | 30/36 | €1,564,107 | €330,461 | -€1.2m | -78.9% |
| Contracts in progress | 37 | €238,000 | €0 | -€238,000 | -100% |
| Amounts receivable within one year | 40/41 | €101,844 | €0 | -€101,844 | -100% |
| Trade receivables | 40 | €46,318 | €0 | -€46,318 | -100% |
| Other amounts receivable | 41 | €55,526 | €0 | -€55,526 | -100% |
| Cash at bank and in hand | 54/58 | €4,261 | €938 | -€3,323 | -78.0% |
| Deferred charges and accrued income | 490/1 | €1,024 | €3,032 | +€2,008 | +196% |
| Total equity and liabilities | 10/49 | €2,626,366 | €1,006,131 | -€1.6m | -61.7% |
| Equity | 10/15 | -€118,305 | -€781,363 | -€663,057 | -560% |
| Contributions | 10/11 | €6,272 | €6,272 | = | 0.0% |
| Reserves | 13 | €92,226 | €89,047 | -€3,179 | -3.4% |
| Tax-exempt reserves | 132 | €3,179 | €0 | -€3,179 | -100% |
| Distributable reserves | 133 | €89,047 | €89,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€216,803 | -€876,682 | -€659,879 | -304% |
| Amounts payable | 17/49 | €2,744,671 | €1,787,493 | -€957,178 | -34.9% |
| Amounts payable after more than one year | 17 | €1,561,871 | €720,837 | -€841,034 | -53.8% |
| Financial debts | 170/4 | €1,561,871 | €720,837 | -€841,034 | -53.8% |
| Amounts payable within one year | 42/48 | €1,182,800 | €1,066,656 | -€116,143 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €47,092 | €48,776 | +€1,684 | +3.6% |
| Financial debts | 43 | €50,107 | €75,141 | +€25,034 | +50.0% |
| Credit institutions | 430/8 | €50,107 | €75,141 | +€25,034 | +50.0% |
| Trade debts | 44 | €53,382 | €12,343 | -€41,039 | -76.9% |
| Suppliers | 440/4 | €53,382 | €12,343 | -€41,039 | -76.9% |
| Advances received on contracts in progress | 46 | €103,331 | €74,829 | -€28,503 | -27.6% |
| Taxes, remuneration and social security | 45 | €9,899 | €96,157 | +€86,258 | +871% |
| Taxes | 450/3 | €8,586 | €96,157 | +€87,570 | +1,020% |
| Remuneration and social security | 454/9 | €1,313 | €0 | -€1,313 | -100% |
| Other amounts payable | 47/48 | €918,988 | €759,411 | -€159,577 | -17.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €66,767 | €0 | -€66,767 | -100% |
| Remuneration, social security and pensions | 62 | €32,979 | €0 | -€32,979 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,834 | €45,071 | -€763 | -1.7% |
| Other operating charges | 640/8 | €18,758 | €28,415 | +€9,657 | +51.5% |
| Non-recurring operating charges | 66A | €42,192 | €37,700 | -€4,492 | -10.6% |
| Gross operating margin | 9900 | €101,354 | -€492,256 | -€593,610 | |
| Operating profit (loss) | 9901 | -€38,409 | -€603,442 | -€565,033 | -1,471% |
| Financial income | 75/76B | €395 | €1,004 | +€609 | +154% |
| Recurring financial income | 75 | €395 | €1,004 | +€609 | +154% |
| Financial charges | 65/66B | €237,052 | €60,377 | -€176,674 | -74.5% |
| Recurring financial charges | 65 | €237,052 | €60,377 | -€176,674 | -74.5% |
| Profit (loss) for the period before taxes | 9903 | -€275,066 | -€662,815 | -€387,749 | -141% |
| Income taxes | 67/77 | €598 | €242 | -€356 | -59.5% |
| Profit (loss) for the period | 9904 | -€275,664 | -€663,057 | -€387,394 | -141% |
| Profit (loss) for the period to be appropriated | 9905 | -€275,664 | -€663,057 | -€387,394 | -141% |
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.