L'Aiglon: 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.
L'Aiglon
Largest movements
- Cash +€48,617
up €48,617 (+20.4%), from €238,046 to €286,663
mainly Depreciation (+€41,905) and Tax, wage and social debts (+€38,530)
- Receivables within one year +€38,716
up €38,716 (+46.6%), from €83,158 to €121,874
of which Trade receivables: +€43,064
- Tangible fixed assets -€35,045
down €35,045 (-6.5%), from €535,319 to €500,274
of which Land and buildings: -€25,932
- Tax, wage and social debts +€38,530
up €38,530 (+21.1%), from €182,783 to €221,314
of which Remuneration and social security: +€36,689
- Reserves +€15,000
up €15,000 (+5.7%), from €264,705 to €279,705
- Depreciation -€31,687
down €31,687 (-43.1%), from €73,592 to €41,905
- Staff costs +€31,446
up €31,446 (+3.3%), from €961,757 to €993,203
- Gross operating margin +€26,642
up €26,642 (+2.5%), from €1.1m to €1.1m
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 | €866,417 | €919,726 | +€53,309 | +6.2% |
| Fixed assets | 21/28 | €535,319 | €500,274 | -€35,045 | -6.5% |
| Tangible fixed assets | 22/27 | €535,319 | €500,274 | -€35,045 | -6.5% |
| Land and buildings | 22 | €500,144 | €474,212 | -€25,932 | -5.2% |
| Plant, machinery and equipment | 23 | €31,066 | €22,899 | -€8,166 | -26.3% |
| Furniture and vehicles | 24 | €4,109 | €3,163 | -€946 | -23.0% |
| Current assets | 29/58 | €331,098 | €419,452 | +€88,353 | +26.7% |
| Amounts receivable within one year | 40/41 | €83,158 | €121,874 | +€38,716 | +46.6% |
| Trade receivables | 40 | €72,578 | €115,642 | +€43,064 | +59.3% |
| Other amounts receivable | 41 | €10,580 | €6,232 | -€4,348 | -41.1% |
| Cash at bank and in hand | 54/58 | €238,046 | €286,663 | +€48,617 | +20.4% |
| Deferred charges and accrued income | 490/1 | €9,894 | €10,915 | +€1,021 | +10.3% |
| Total equity and liabilities | 10/49 | €866,417 | €919,726 | +€53,309 | +6.2% |
| Equity | 10/15 | €618,675 | €636,078 | +€17,403 | +2.8% |
| Contributions | 10/11 | €347,051 | €347,051 | = | 0.0% |
| Reserves | 13 | €264,705 | €279,705 | +€15,000 | +5.7% |
| Distributable reserves | 133 | €264,705 | €279,705 | +€15,000 | +5.7% |
| Profit (loss) carried forward | 14 | €6,919 | €9,322 | +€2,403 | +34.7% |
| Amounts payable | 17/49 | €247,742 | €283,648 | +€35,906 | +14.5% |
| Amounts payable after more than one year | 17 | €23,891 | €15,844 | -€8,047 | -33.7% |
| Financial debts | 170/4 | €23,891 | €15,844 | -€8,047 | -33.7% |
| Amounts payable within one year | 42/48 | €223,852 | €267,804 | +€43,952 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €11,723 | €8,047 | -€3,677 | -31.4% |
| Financial debts | 43 | €8,726 | €8,794 | +€68 | +0.8% |
| Other loans | 439 | €8,726 | €8,794 | +€68 | +0.8% |
| Trade debts | 44 | €20,619 | €29,650 | +€9,031 | +43.8% |
| Suppliers | 440/4 | €20,619 | €29,650 | +€9,031 | +43.8% |
| Taxes, remuneration and social security | 45 | €182,783 | €221,314 | +€38,530 | +21.1% |
| Taxes | 450/3 | €32,017 | €33,858 | +€1,841 | +5.8% |
| Remuneration and social security | 454/9 | €150,766 | €187,456 | +€36,689 | +24.3% |
| Remuneration, social security and pensions | 62 | €961,757 | €993,203 | +€31,446 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,592 | €41,905 | -€31,687 | -43.1% |
| Other operating charges | 640/8 | €12,269 | €13,283 | +€1,014 | +8.3% |
| Gross operating margin | 9900 | €1,053,564 | €1,080,206 | +€26,642 | +2.5% |
| Operating profit (loss) | 9901 | €5,946 | €31,815 | +€25,869 | +435% |
| Financial income | 75/76B | €1,353 | €992 | -€361 | -26.7% |
| Recurring financial income | 75 | €1,353 | €992 | -€361 | -26.7% |
| Financial charges | 65/66B | €4,566 | €4,427 | -€139 | -3.0% |
| Recurring financial charges | 65 | €4,566 | €4,427 | -€139 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €2,734 | €28,380 | +€25,646 | +938% |
| Income taxes | 67/77 | €2,294 | €10,976 | +€8,683 | +379% |
| Profit (loss) for the period | 9904 | €440 | €17,403 | +€16,963 | +3,852% |
| Profit (loss) for the period to be appropriated | 9905 | €440 | €17,403 | +€16,963 | +3,852% |
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.