Dr. Jelle Aerts: what changed
Dr. Jelle Aerts
Largest movements
- Cash +€34,011
up €34,011 (+89.9%), from €37,837 to €71,848
mainly Net result for the year (+€97,298) and Receivables within one year (+€31,038)
- Receivables within one year -€31,038
down €31,038 (-22.1%), from €140,636 to €109,598
of which Trade receivables: -€29,636
- Tangible fixed assets +€9,129
up €9,129 (+78.4%), from €11,649 to €20,778
of which Plant, machinery and equipment: +€6,448
- Other debts -€106,131
down €106,131 (-70.7%), from €150,199 to €44,067
- Reserves +€97,298
up €97,298, from €0 to €97,298
- Accrued charges and deferred income +€29,085
up €29,085 (+107%), from €27,209 to €56,294
- Trade debts -€6,186
down €6,186 (-53.7%), from €11,517 to €5,331
- Gross operating margin -€67,686
down €67,686 (-34.1%), from €198,663 to €130,977
- Taxes -€16,976
down €16,976 (-36.2%), from €46,904 to €29,928
- Depreciation +€2,726
up €2,726 (+394%), from €692 to €3,418
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 | €192,829 | €204,990 | +€12,161 | +6.3% |
| Fixed assets | 21/28 | €11,649 | €20,778 | +€9,129 | +78.4% |
| Tangible fixed assets | 22/27 | €11,649 | €20,778 | +€9,129 | +78.4% |
| Plant, machinery and equipment | 23 | €11,649 | €18,097 | +€6,448 | +55.4% |
| Furniture and vehicles | 24 | - | €2,681 | +€2,681 | |
| Current assets | 29/58 | €181,180 | €184,212 | +€3,033 | +1.7% |
| Amounts receivable within one year | 40/41 | €140,636 | €109,598 | -€31,038 | -22.1% |
| Trade receivables | 40 | €120,060 | €90,424 | -€29,636 | -24.7% |
| Other amounts receivable | 41 | €20,577 | €19,174 | -€1,402 | -6.8% |
| Cash at bank and in hand | 54/58 | €37,837 | €71,848 | +€34,011 | +89.9% |
| Deferred charges and accrued income | 490/1 | €2,706 | €2,766 | +€60 | +2.2% |
| Total equity and liabilities | 10/49 | €192,829 | €204,990 | +€12,161 | +6.3% |
| Equity | 10/15 | €2,000 | €99,298 | +€97,298 | +4,865% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €0 | €97,298 | +€97,298 | |
| Distributable reserves | 133 | €0 | €97,298 | +€97,298 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €190,829 | €105,692 | -€85,136 | -44.6% |
| Amounts payable within one year | 42/48 | €163,620 | €49,398 | -€114,221 | -69.8% |
| Trade debts | 44 | €11,517 | €5,331 | -€6,186 | -53.7% |
| Suppliers | 440/4 | €11,517 | €5,331 | -€6,186 | -53.7% |
| Taxes, remuneration and social security | 45 | €1,904 | €0 | -€1,904 | -100% |
| Taxes | 450/3 | €1,904 | €0 | -€1,904 | -100% |
| Other amounts payable | 47/48 | €150,199 | €44,067 | -€106,131 | -70.7% |
| Accrued charges and deferred income | 492/3 | €27,209 | €56,294 | +€29,085 | +107% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €692 | €3,418 | +€2,726 | +394% |
| Other operating charges | 640/8 | €194 | €184 | -€10 | -5.2% |
| Non-recurring operating charges | 66A | €683 | €0 | -€683 | -100% |
| Gross operating margin | 9900 | €198,663 | €130,977 | -€67,686 | -34.1% |
| Operating profit (loss) | 9901 | €197,094 | €127,375 | -€69,719 | -35.4% |
| Financial income | 75/76B | €128 | €0 | -€128 | -100% |
| Recurring financial income | 75 | €128 | €0 | -€128 | -100% |
| Financial charges | 65/66B | €120 | €150 | +€30 | +25.0% |
| Recurring financial charges | 65 | €120 | €150 | +€30 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €197,102 | €127,225 | -€69,877 | -35.5% |
| Income taxes | 67/77 | €46,904 | €29,928 | -€16,976 | -36.2% |
| Profit (loss) for the period | 9904 | €150,199 | €97,298 | -€52,901 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €150,199 | €97,298 | -€52,901 | -35.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.