Grafzerken 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.
Grafzerken Aerts
Largest movements
- Tangible fixed assets +€197,329
up €197,329 (+57.2%), from €345,246 to €542,575
of which Land and buildings: +€107,076
- Receivables within one year +€89,685
up €89,685 (+108%), from €83,323 to €173,007
of which Trade receivables: +€122,458
- Stocks and contracts +€9,000
up €9,000 (+37.2%), from €24,205 to €33,205
of which Stocks: +€5,790
- Cash -€8,138
down €8,138 (-30.3%), from €26,869 to €18,732
mainly Investment in fixed assets (net) (-€228,336) and Receivables within one year (-€89,685)
- Debts after one year +€251,385
up €251,385 (+89.0%), from €282,545 to €533,930
- Current portion of long-term debt +€15,854
up €15,854 (+204%), from €7,762 to €23,615
- Trade debts +€15,853
up €15,853 (+246%), from €6,444 to €22,296
- Gross operating margin +€17,235
up €17,235 (+45.7%), from €37,678 to €54,913
- Financial charges +€13,552
up €13,552 (+8,479%), from €160 to €13,712
- Depreciation +€7,747
up €7,747 (+33.3%), from €23,261 to €31,008
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €479,643 | €768,767 | +€289,124 | +60.3% |
| Fixed assets | 21/28 | €345,246 | €542,575 | +€197,329 | +57.2% |
| Tangible fixed assets | 22/27 | €345,246 | €542,575 | +€197,329 | +57.2% |
| Land and buildings | 22 | €312,557 | €419,633 | +€107,076 | +34.3% |
| Plant, machinery and equipment | 23 | €20,360 | €118,271 | +€97,910 | +481% |
| Furniture and vehicles | 24 | €12,328 | €4,671 | -€7,657 | -62.1% |
| Current assets | 29/58 | €134,397 | €226,192 | +€91,795 | +68.3% |
| Stocks and contracts in progress | 3 | €24,205 | €33,205 | +€9,000 | +37.2% |
| Stocks | 30/36 | €24,205 | €29,995 | +€5,790 | +23.9% |
| Contracts in progress | 37 | - | €3,210 | +€3,210 | |
| Amounts receivable within one year | 40/41 | €83,323 | €173,007 | +€89,685 | +108% |
| Trade receivables | 40 | €15,955 | €138,412 | +€122,458 | +768% |
| Other amounts receivable | 41 | €67,368 | €34,595 | -€32,773 | -48.6% |
| Cash at bank and in hand | 54/58 | €26,869 | €18,732 | -€8,138 | -30.3% |
| Deferred charges and accrued income | 490/1 | - | €1,248 | +€1,248 | |
| Total equity and liabilities | 10/49 | €479,643 | €768,767 | +€289,124 | +60.3% |
| Equity | 10/15 | €91,176 | €98,661 | +€7,485 | +8.2% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €73,750 | €81,150 | +€7,400 | +10.0% |
| Distributable reserves | 133 | €73,750 | €81,150 | +€7,400 | +10.0% |
| Profit (loss) carried forward | 14 | €9,426 | €9,511 | +€85 | +0.9% |
| Amounts payable | 17/49 | €388,467 | €670,106 | +€281,638 | +72.5% |
| Amounts payable after more than one year | 17 | €282,545 | €533,930 | +€251,385 | +89.0% |
| Financial debts | 170/4 | €282,545 | €533,930 | +€251,385 | +89.0% |
| Amounts payable within one year | 42/48 | €104,240 | €134,297 | +€30,057 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €7,762 | €23,615 | +€15,854 | +204% |
| Trade debts | 44 | €6,444 | €22,296 | +€15,853 | +246% |
| Suppliers | 440/4 | €6,444 | €22,296 | +€15,853 | +246% |
| Taxes, remuneration and social security | 45 | €3,766 | - | -€3,766 | |
| Remuneration and social security | 454/9 | €3,766 | - | -€3,766 | |
| Other amounts payable | 47/48 | €86,269 | €88,385 | +€2,116 | +2.5% |
| Accrued charges and deferred income | 492/3 | €1,682 | €1,879 | +€197 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,261 | €31,008 | +€7,747 | +33.3% |
| Other operating charges | 640/8 | €1,683 | €2,087 | +€404 | +24.0% |
| Gross operating margin | 9900 | €37,678 | €54,913 | +€17,235 | +45.7% |
| Operating profit (loss) | 9901 | €12,734 | €21,818 | +€9,085 | +71.3% |
| Financial income | 75/76B | €332 | €118 | -€213 | -64.3% |
| Recurring financial income | 75 | €332 | €118 | -€213 | -64.3% |
| Financial charges | 65/66B | €160 | €13,712 | +€13,552 | +8,479% |
| Recurring financial charges | 65 | €160 | €13,712 | +€13,552 | +8,479% |
| Profit (loss) for the period before taxes | 9903 | €12,906 | €8,225 | -€4,681 | -36.3% |
| Income taxes | 67/77 | €1,140 | €740 | -€400 | -35.1% |
| Profit (loss) for the period | 9904 | €11,766 | €7,485 | -€4,281 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,766 | €7,485 | -€4,281 | -36.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.