ELECTRONIC TECHNOLOGY AERTSEN: 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.
ELECTRONIC TECHNOLOGY AERTSEN
Largest movements
- Receivables within one year +€165,948
up €165,948 (+48.5%), from €342,405 to €508,353
of which Trade receivables: +€165,963
- Cash +€122,004
up €122,004 (+21.6%), from €563,869 to €685,873
mainly Net result for the year (+€288,067) and Tax, wage and social debts (+€27,345)
- Reserves +€245,389
up €245,389 (+25.2%), from €972,123 to €1.2m
- Tax, wage and social debts +€27,345
up €27,345 (+22.5%), from €121,764 to €149,109
of which Taxes: +€27,978
- Staff costs +€67,025
up €67,025 (+39.9%), from €167,964 to €234,988
- Gross operating margin +€27,999
up €27,999 (+4.4%), from €637,419 to €665,418
- Financial income +€9,458
up €9,458 (+36,347%), from €26 to €9,484
- Taxes -€8,714
down €8,714 (-6.2%), from €139,500 to €130,787
- Depreciation -€7,127
down €7,127 (-35.4%), from €20,148 to €13,021
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 | €1,191,665 | €1,453,810 | +€262,146 | +22.0% |
| Fixed assets | 21/28 | €40,211 | €27,190 | -€13,021 | -32.4% |
| Tangible fixed assets | 22/27 | €40,211 | €27,190 | -€13,021 | -32.4% |
| Plant, machinery and equipment | 23 | €1,946 | - | -€1,946 | |
| Furniture and vehicles | 24 | €1,935 | €1,892 | -€44 | -2.3% |
| Leasing and similar rights | 25 | €36,329 | €25,299 | -€11,031 | -30.4% |
| Current assets | 29/58 | €1,151,453 | €1,426,620 | +€275,167 | +23.9% |
| Stocks and contracts in progress | 3 | €230,688 | €218,647 | -€12,041 | -5.2% |
| Stocks | 30/36 | €230,688 | €218,647 | -€12,041 | -5.2% |
| Amounts receivable within one year | 40/41 | €342,405 | €508,353 | +€165,948 | +48.5% |
| Trade receivables | 40 | €342,391 | €508,353 | +€165,963 | +48.5% |
| Other amounts receivable | 41 | €15 | €0 | -€15 | -100% |
| Cash at bank and in hand | 54/58 | €563,869 | €685,873 | +€122,004 | +21.6% |
| Deferred charges and accrued income | 490/1 | €14,491 | €13,747 | -€744 | -5.1% |
| Total equity and liabilities | 10/49 | €1,191,665 | €1,453,810 | +€262,146 | +22.0% |
| Equity | 10/15 | €990,723 | €1,236,112 | +€245,389 | +24.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €972,123 | €1,217,512 | +€245,389 | +25.2% |
| Distributable reserves | 133 | €972,123 | €1,217,512 | +€245,389 | +25.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €200,941 | €217,698 | +€16,757 | +8.3% |
| Amounts payable after more than one year | 17 | €32,479 | €20,168 | -€12,311 | -37.9% |
| Financial debts | 170/4 | €32,479 | €20,168 | -€12,311 | -37.9% |
| Amounts payable within one year | 42/48 | €168,463 | €197,531 | +€29,068 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €11,882 | €12,311 | +€429 | +3.6% |
| Trade debts | 44 | €29,759 | €35,204 | +€5,445 | +18.3% |
| Suppliers | 440/4 | €29,759 | €35,204 | +€5,445 | +18.3% |
| Taxes, remuneration and social security | 45 | €121,764 | €149,109 | +€27,345 | +22.5% |
| Taxes | 450/3 | €82,380 | €110,358 | +€27,978 | +34.0% |
| Remuneration and social security | 454/9 | €39,384 | €38,751 | -€633 | -1.6% |
| Other amounts payable | 47/48 | €5,057 | €906 | -€4,151 | -82.1% |
| Non-recurring operating income | 76A | €207 | €0 | -€207 | -100% |
| Remuneration, social security and pensions | 62 | €167,964 | €234,988 | +€67,025 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,148 | €13,021 | -€7,127 | -35.4% |
| Other operating charges | 640/8 | €2,252 | €4,802 | +€2,550 | +113% |
| Gross operating margin | 9900 | €637,419 | €665,418 | +€27,999 | +4.4% |
| Operating profit (loss) | 9901 | €447,056 | €412,607 | -€34,449 | -7.7% |
| Financial income | 75/76B | €26 | €9,484 | +€9,458 | +36,347% |
| Recurring financial income | 75 | €26 | €9,484 | +€9,458 | +36,347% |
| Financial charges | 65/66B | €3,619 | €3,237 | -€382 | -10.6% |
| Recurring financial charges | 65 | €3,619 | €3,237 | -€382 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €443,462 | €418,853 | -€24,609 | -5.5% |
| Income taxes | 67/77 | €139,500 | €130,787 | -€8,714 | -6.2% |
| Profit (loss) for the period | 9904 | €303,962 | €288,067 | -€15,895 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €303,962 | €288,067 | -€15,895 | -5.2% |
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 15 October 2026 via checked.be.