Cedric van Aerde: 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.
Cedric van Aerde
Largest movements
- Cash +€21,160
up €21,160 (+31.2%), from €67,824 to €88,985
mainly Net result for the year (+€57,879) and Trade debts (+€1,556)
- Receivables within one year +€18,238
up €18,238 (+44.0%), from €41,431 to €59,669
of which Other amounts receivable: +€21,318
- Tangible fixed assets +€11,462
up €11,462 (+360.6%), from €3,178 to €14,640
of which Furniture and vehicles: +€12,077
- Profit (loss) carried forward +€57,879
up €57,879 (+69.8%), from €82,897 to €140,776
- Tax, wage and social debts -€7,647
down €7,647 (-27.5%), from €27,795 to €20,148
- Gross operating margin -€30,566
down €30,566 (-28.8%), from €106,032 to €75,467
- Taxes -€5,746
down €5,746 (-26.4%), from €21,764 to €16,018
- Financial income +€1,102
up €1,102 (+202.2%), from €545 to €1,648
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 | €114,266 | €166,054 | +€51,788 | +45.3% |
| Fixed assets | 21/28 | €3,178 | €14,640 | +€11,462 | +360.6% |
| Tangible fixed assets | 22/27 | €3,178 | €14,640 | +€11,462 | +360.6% |
| Plant, machinery and equipment | 23 | €3,178 | €2,564 | -€615 | -19.3% |
| Furniture and vehicles | 24 | - | €12,077 | +€12,077 | |
| Current assets | 29/58 | €111,087 | €151,413 | +€40,326 | +36.3% |
| Amounts receivable within one year | 40/41 | €41,431 | €59,669 | +€18,238 | +44.0% |
| Trade receivables | 40 | €22,080 | €19,000 | -€3,080 | -13.9% |
| Other amounts receivable | 41 | €19,351 | €40,669 | +€21,318 | +110.2% |
| Cash at bank and in hand | 54/58 | €67,824 | €88,985 | +€21,160 | +31.2% |
| Deferred charges and accrued income | 490/1 | €1,832 | €2,759 | +€927 | +50.6% |
| Total equity and liabilities | 10/49 | €114,266 | €166,054 | +€51,788 | +45.3% |
| Equity | 10/15 | €85,897 | €143,776 | +€57,879 | +67.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,897 | €140,776 | +€57,879 | +69.8% |
| Amounts payable | 17/49 | €28,369 | €22,277 | -€6,091 | -21.5% |
| Amounts payable within one year | 42/48 | €28,369 | €22,277 | -€6,091 | -21.5% |
| Trade debts | 44 | €573 | €2,129 | +€1,556 | +271.4% |
| Suppliers | 440/4 | €573 | €2,129 | +€1,556 | +271.4% |
| Taxes, remuneration and social security | 45 | €27,795 | €20,148 | -€7,647 | -27.5% |
| Taxes | 450/3 | €27,795 | €20,148 | -€7,647 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374 | €1,388 | +€1,013 | +270.7% |
| Other operating charges | 640/8 | €434 | €400 | -€34 | -7.8% |
| Gross operating margin | 9900 | €106,032 | €75,467 | -€30,566 | -28.8% |
| Operating profit (loss) | 9901 | €105,224 | €73,679 | -€31,545 | -30.0% |
| Financial income | 75/76B | €545 | €1,648 | +€1,102 | +202.2% |
| Recurring financial income | 75 | €545 | €1,648 | +€1,102 | +202.2% |
| Financial charges | 65/66B | €1,109 | €1,429 | +€321 | +28.9% |
| Recurring financial charges | 65 | €1,109 | €1,429 | +€321 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | €104,661 | €73,897 | -€30,763 | -29.4% |
| Income taxes | 67/77 | €21,764 | €16,018 | -€5,746 | -26.4% |
| Profit (loss) for the period | 9904 | €82,897 | €57,879 | -€25,018 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €82,897 | €57,879 | -€25,018 | -30.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.