Kantoor 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.
Kantoor AERTS
Largest movements
- Cash -€191,575
down €191,575 (-63.6%), from €301,186 to €109,611
mainly Contributions, distributions and other (-€202,752) and Investment in fixed assets (net) (-€82,174)
- Financial fixed assets +€52,296
up €52,296 (+422%), from €12,400 to €64,696
- Current investments -€51,271
no longer reported in 2025 (was €51,271)
- Tangible fixed assets +€12,407
up €12,407 (+24.5%), from €50,598 to €63,006
of which Plant, machinery and equipment: +€11,385
- Reserves -€177,925
down €177,925 (-43.8%), from €405,806 to €227,881
- Gross operating margin +€7,112
up €7,112 (+16.2%), from €43,786 to €50,898
- Taxes +€1,348
up €1,348 (+17.4%), from €7,750 to €9,098
- Depreciation +€792
up €792 (+4.7%), from €16,679 to €17,470
- Financial income -€721
down €721 (-33.0%), from €2,186 to €1,465
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 | €423,060 | €245,305 | -€177,755 | -42.0% |
| Fixed assets | 21/28 | €62,998 | €127,702 | +€64,704 | +103% |
| Tangible fixed assets | 22/27 | €50,598 | €63,006 | +€12,407 | +24.5% |
| Plant, machinery and equipment | 23 | €1,710 | €13,095 | +€11,385 | +666% |
| Furniture and vehicles | 24 | €3,269 | €547 | -€2,722 | -83.3% |
| Other tangible fixed assets | 26 | €45,619 | €49,363 | +€3,744 | +8.2% |
| Financial fixed assets | 28 | €12,400 | €64,696 | +€52,296 | +422% |
| Current assets | 29/58 | €360,062 | €117,603 | -€242,459 | -67.3% |
| Amounts receivable within one year | 40/41 | €6,839 | €7,022 | +€183 | +2.7% |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | €6,839 | €4,022 | -€2,817 | -41.2% |
| Current investments | 50/53 | €51,271 | - | -€51,271 | |
| Cash at bank and in hand | 54/58 | €301,186 | €109,611 | -€191,575 | -63.6% |
| Deferred charges and accrued income | 490/1 | €765 | €970 | +€204 | +26.7% |
| Total equity and liabilities | 10/49 | €423,060 | €245,305 | -€177,755 | -42.0% |
| Equity | 10/15 | €418,206 | €240,281 | -€177,925 | -42.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €405,806 | €227,881 | -€177,925 | -43.8% |
| Distributable reserves | 133 | €405,806 | €227,881 | -€177,925 | -43.8% |
| Amounts payable | 17/49 | €4,854 | €5,024 | +€170 | +3.5% |
| Amounts payable within one year | 42/48 | €4,854 | €5,024 | +€170 | +3.5% |
| Trade debts | 44 | €4,838 | €5,008 | +€170 | +3.5% |
| Suppliers | 440/4 | €4,838 | €5,008 | +€170 | +3.5% |
| Other amounts payable | 47/48 | €16 | €16 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,679 | €17,470 | +€792 | +4.7% |
| Other operating charges | 640/8 | €808 | €834 | +€25 | +3.1% |
| Non-recurring operating charges | 66A | €1,709 | - | -€1,709 | |
| Gross operating margin | 9900 | €43,786 | €50,898 | +€7,112 | +16.2% |
| Operating profit (loss) | 9901 | €24,590 | €32,594 | +€8,004 | +32.5% |
| Financial income | 75/76B | €2,186 | €1,465 | -€721 | -33.0% |
| Recurring financial income | 75 | €2,186 | €1,465 | -€721 | -33.0% |
| Financial charges | 65/66B | €132 | €134 | +€2 | +1.5% |
| Recurring financial charges | 65 | €132 | €134 | +€2 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €26,645 | €33,925 | +€7,280 | +27.3% |
| Income taxes | 67/77 | €7,750 | €9,098 | +€1,348 | +17.4% |
| Profit (loss) for the period | 9904 | €18,895 | €24,827 | +€5,932 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,895 | €24,827 | +€5,932 | +31.4% |
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.