CHRISTINNE AERTS: 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.
CHRISTINNE AERTS
Largest movements
- Receivables within one year +€50,773
up €50,773 (+64.7%), from €78,525 to €129,298
of which Other amounts receivable: +€48,151
- Cash -€9,174
down €9,174 (-41.5%), from €22,127 to €12,953
mainly Receivables within one year (-€50,773) and Trade debts (-€9,649)
- Tangible fixed assets -€4,825
down €4,825 (-33.5%), from €14,390 to €9,564
of which Furniture and vehicles: -€2,819
- Reserves +€41,587
up €41,587 (+48.7%), from €85,480 to €127,067
of which Distributable reserves: +€41,587
- Trade debts -€9,649
down €9,649 (-79.5%), from €12,136 to €2,487
- Tax, wage and social debts +€4,061
up €4,061 (+29.0%), from €14,001 to €18,062
of which Taxes: +€8,061
- Gross operating margin +€44,938
up €44,938 (+216%), from €20,822 to €65,760
- Taxes +€16,788
up €16,788 (+301%), from €5,574 to €22,362
- Depreciation -€4,640
down €4,640 (-49.0%), from €9,465 to €4,825
- Financial income +€1,477
up €1,477 (+43.9%), from €3,361 to €4,838
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 | €115,042 | €151,816 | +€36,774 | +32.0% |
| Fixed assets | 21/28 | €14,390 | €9,564 | -€4,825 | -33.5% |
| Tangible fixed assets | 22/27 | €14,390 | €9,564 | -€4,825 | -33.5% |
| Plant, machinery and equipment | 23 | €9,298 | €7,292 | -€2,006 | -21.6% |
| Furniture and vehicles | 24 | €5,092 | €2,273 | -€2,819 | -55.4% |
| Current assets | 29/58 | €100,652 | €142,252 | +€41,599 | +41.3% |
| Amounts receivable within one year | 40/41 | €78,525 | €129,298 | +€50,773 | +64.7% |
| Trade receivables | 40 | €1,439 | €4,060 | +€2,622 | +182% |
| Other amounts receivable | 41 | €77,087 | €125,238 | +€48,151 | +62.5% |
| Cash at bank and in hand | 54/58 | €22,127 | €12,953 | -€9,174 | -41.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €115,042 | €151,816 | +€36,774 | +32.0% |
| Equity | 10/15 | €85,480 | €127,067 | +€41,587 | +48.7% |
| Reserves | 13 | €85,480 | €127,067 | +€41,587 | +48.7% |
| Tax-exempt reserves | 132 | €1,882 | €1,882 | = | 0.0% |
| Distributable reserves | 133 | €83,598 | €125,185 | +€41,587 | +49.7% |
| Amounts payable | 17/49 | €29,562 | €24,749 | -€4,813 | -16.3% |
| Amounts payable within one year | 42/48 | €29,562 | €24,749 | -€4,813 | -16.3% |
| Financial debts | 43 | €3,425 | €4,200 | +€776 | +22.6% |
| Credit institutions | 430/8 | €3,425 | €4,200 | +€776 | +22.6% |
| Trade debts | 44 | €12,136 | €2,487 | -€9,649 | -79.5% |
| Suppliers | 440/4 | €12,136 | €2,487 | -€9,649 | -79.5% |
| Taxes, remuneration and social security | 45 | €14,001 | €18,062 | +€4,061 | +29.0% |
| Taxes | 450/3 | €9,751 | €17,812 | +€8,061 | +82.7% |
| Remuneration and social security | 454/9 | €4,250 | €250 | -€4,000 | -94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,465 | €4,825 | -€4,640 | -49.0% |
| Other operating charges | 640/8 | €1,473 | €1,032 | -€442 | -30.0% |
| Gross operating margin | 9900 | €20,822 | €65,760 | +€44,938 | +216% |
| Operating profit (loss) | 9901 | €9,884 | €59,903 | +€50,020 | +506% |
| Financial income | 75/76B | €3,361 | €4,838 | +€1,477 | +43.9% |
| Recurring financial income | 75 | €3,361 | €4,838 | +€1,477 | +43.9% |
| Financial charges | 65/66B | €791 | €793 | +€2 | +0.3% |
| Recurring financial charges | 65 | €791 | €793 | +€2 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €12,454 | €63,948 | +€51,495 | +413% |
| Income taxes | 67/77 | €5,574 | €22,362 | +€16,788 | +301% |
| Profit (loss) for the period | 9904 | €6,880 | €41,587 | +€34,707 | +504% |
| Profit (loss) for the period to be appropriated | 9905 | €6,880 | €41,587 | +€34,707 | +504% |
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 29 October 2026 via checked.be.