Aubépine Management: what changed
Aubépine Management
Largest movements
- Financial fixed assets +€380,000
up €380,000 (+81.7%), from €465,000 to €845,000
- Receivables within one year -€283,536
down €283,536 (-92.5%), from €306,468 to €22,932
of which Other amounts receivable: -€303,309
- Cash +€118,573
up €118,573 (+328%), from €36,163 to €154,736
mainly Receivables within one year (+€283,536) and Other debts (+€234,609)
- Tangible fixed assets +€11,528
up €11,528 (+36.4%), from €31,704 to €43,232
of which Other tangible fixed assets: +€11,706
- Other debts +€234,609
up €234,609 (+72.8%), from €322,357 to €556,966
- Debts after one year -€62,840
down €62,840 (-18.6%), from €337,152 to €274,312
- Profit (loss) carried forward +€46,511
up €46,511 (+29.8%), from -€155,888 to -€109,377
- Gross operating margin +€78,167
up €78,167, from -€5,495 to €72,673
- Financial charges +€10,922
up €10,922 (+154%), from €7,106 to €18,028
- Financial income -€2,328
down €2,328 (-100.0%), from €2,328 to €0
- Depreciation +€914
up €914 (+15.7%), from €5,841 to €6,756
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €839,991 | €1,067,936 | +€227,946 | +27.1% |
| Fixed assets | 21/28 | €496,704 | €888,232 | +€391,528 | +78.8% |
| Tangible fixed assets | 22/27 | €31,704 | €43,232 | +€11,528 | +36.4% |
| Plant, machinery and equipment | 23 | €1,313 | €1,342 | +€29 | +2.2% |
| Furniture and vehicles | 24 | €11,966 | €11,759 | -€207 | -1.7% |
| Other tangible fixed assets | 26 | €18,425 | €30,131 | +€11,706 | +63.5% |
| Financial fixed assets | 28 | €465,000 | €845,000 | +€380,000 | +81.7% |
| Current assets | 29/58 | €343,286 | €179,704 | -€163,582 | -47.7% |
| Amounts receivable within one year | 40/41 | €306,468 | €22,932 | -€283,536 | -92.5% |
| Trade receivables | 40 | €1,388 | €21,161 | +€19,773 | +1,425% |
| Other amounts receivable | 41 | €305,080 | €1,771 | -€303,309 | -99.4% |
| Cash at bank and in hand | 54/58 | €36,163 | €154,736 | +€118,573 | +328% |
| Deferred charges and accrued income | 490/1 | €655 | €2,037 | +€1,382 | +211% |
| Total equity and liabilities | 10/49 | €839,991 | €1,067,936 | +€227,946 | +27.1% |
| Equity | 10/15 | €114,572 | €161,083 | +€46,511 | +40.6% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€155,888 | -€109,377 | +€46,511 | +29.8% |
| Amounts payable | 17/49 | €725,419 | €906,854 | +€181,435 | +25.0% |
| Amounts payable after more than one year | 17 | €337,152 | €274,312 | -€62,840 | -18.6% |
| Financial debts | 170/4 | €337,152 | €274,312 | -€62,840 | -18.6% |
| Amounts payable within one year | 42/48 | €388,267 | €632,542 | +€244,275 | +62.9% |
| Current portion of amounts payable after more than one year | 42 | €62,186 | €64,161 | +€1,975 | +3.2% |
| Trade debts | 44 | €3,323 | €1,101 | -€2,222 | -66.9% |
| Suppliers | 440/4 | €3,323 | €1,101 | -€2,222 | -66.9% |
| Taxes, remuneration and social security | 45 | €400 | €10,314 | +€9,914 | +2,479% |
| Taxes | 450/3 | €400 | €10,314 | +€9,914 | +2,479% |
| Other amounts payable | 47/48 | €322,357 | €556,966 | +€234,609 | +72.8% |
| Non-recurring operating income | 76A | €7,496 | - | -€7,496 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,841 | €6,756 | +€914 | +15.7% |
| Other operating charges | 640/8 | €990 | €1,135 | +€145 | +14.6% |
| Gross operating margin | 9900 | -€5,495 | €72,673 | +€78,167 | |
| Operating profit (loss) | 9901 | -€12,326 | €64,782 | +€77,108 | |
| Financial income | 75/76B | €2,328 | €0 | -€2,328 | -100.0% |
| Recurring financial income | 75 | €2,328 | €0 | -€2,328 | -100.0% |
| Financial charges | 65/66B | €7,106 | €18,028 | +€10,922 | +154% |
| Recurring financial charges | 65 | €7,106 | €18,028 | +€10,922 | +154% |
| Profit (loss) for the period before taxes | 9903 | -€17,104 | €46,755 | +€63,859 | |
| Income taxes | 67/77 | €170 | €244 | +€74 | +43.7% |
| Profit (loss) for the period | 9904 | -€17,274 | €46,511 | +€63,784 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,274 | €46,511 | +€63,784 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.