ROEL AERNOUTS: what changed
ROEL AERNOUTS
Largest movements
- Receivables within one year +€25,794
up €25,794 (+99.0%), from €26,047 to €51,841
of which Trade receivables: +€25,869
- Stocks and contracts -€6,178
down €6,178 (-76.3%), from €8,102 to €1,924
of which Contracts in progress: -€5,345
- Cash +€4,826
up €4,826 (+19.1%), from €25,227 to €30,053
mainly Net result for the year (+€24,487) and Tax, wage and social debts (+€12,124)
- Tangible fixed assets -€3,554
down €3,554 (-32.6%), from €10,899 to €7,345
of which Leasing and similar rights: -€4,037
- Reserves +€24,487
up €24,487 (+78.6%), from €31,165 to €55,652
- Tax, wage and social debts +€12,124
up €12,124 (+146%), from €8,323 to €20,447
of which Taxes: +€12,124
- Trade debts -€10,715
down €10,715 (-77.8%), from €13,771 to €3,056
- Current portion of long-term debt -€4,955
down €4,955 (-100%), from €4,955 to €0
- Gross operating margin +€33,189
up €33,189 (+234%), from €14,166 to €47,355
- Taxes +€10,537
up €10,537 (+541%), from €1,946 to €12,483
- Depreciation -€1,642
down €1,642 (-17.0%), from €9,687 to €8,045
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 | €70,615 | €91,555 | +€20,941 | +29.7% |
| Fixed assets | 21/28 | €11,035 | €7,481 | -€3,554 | -32.2% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €10,899 | €7,345 | -€3,554 | -32.6% |
| Plant, machinery and equipment | 23 | €2,901 | €3,045 | +€144 | +5.0% |
| Furniture and vehicles | 24 | €3,961 | €4,300 | +€338 | +8.5% |
| Leasing and similar rights | 25 | €4,037 | €0 | -€4,037 | -100% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €59,579 | €84,074 | +€24,495 | +41.1% |
| Stocks and contracts in progress | 3 | €8,102 | €1,924 | -€6,178 | -76.3% |
| Stocks | 30/36 | €2,757 | €1,924 | -€833 | -30.2% |
| Contracts in progress | 37 | €5,345 | €0 | -€5,345 | -100% |
| Amounts receivable within one year | 40/41 | €26,047 | €51,841 | +€25,794 | +99.0% |
| Trade receivables | 40 | €20,524 | €46,393 | +€25,869 | +126% |
| Other amounts receivable | 41 | €5,523 | €5,448 | -€75 | -1.4% |
| Cash at bank and in hand | 54/58 | €25,227 | €30,053 | +€4,826 | +19.1% |
| Deferred charges and accrued income | 490/1 | €203 | €256 | +€53 | +26.3% |
| Total equity and liabilities | 10/49 | €70,615 | €91,555 | +€20,941 | +29.7% |
| Equity | 10/15 | €43,565 | €68,052 | +€24,487 | +56.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €31,165 | €55,652 | +€24,487 | +78.6% |
| Distributable reserves | 133 | €31,165 | €55,652 | +€24,487 | +78.6% |
| Amounts payable | 17/49 | €27,049 | €23,503 | -€3,547 | -13.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €27,049 | €23,503 | -€3,547 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €4,955 | €0 | -€4,955 | -100% |
| Trade debts | 44 | €13,771 | €3,056 | -€10,715 | -77.8% |
| Suppliers | 440/4 | €13,771 | €3,056 | -€10,715 | -77.8% |
| Taxes, remuneration and social security | 45 | €8,323 | €20,447 | +€12,124 | +146% |
| Taxes | 450/3 | €6,123 | €18,247 | +€12,124 | +198% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,687 | €8,045 | -€1,642 | -17.0% |
| Other operating charges | 640/8 | €695 | €929 | +€234 | +33.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €14,166 | €47,355 | +€33,189 | +234% |
| Operating profit (loss) | 9901 | €3,783 | €38,381 | +€34,598 | +915% |
| Financial income | 75/76B | €364 | €296 | -€68 | -18.7% |
| Recurring financial income | 75 | €364 | €296 | -€68 | -18.7% |
| Financial charges | 65/66B | €1,395 | €1,707 | +€312 | +22.3% |
| Recurring financial charges | 65 | €1,395 | €1,707 | +€312 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €2,752 | €36,970 | +€34,218 | +1,243% |
| Income taxes | 67/77 | €1,946 | €12,483 | +€10,537 | +541% |
| Profit (loss) for the period | 9904 | €806 | €24,487 | +€23,681 | +2,939% |
| Profit (loss) for the period to be appropriated | 9905 | €806 | €24,487 | +€23,681 | +2,939% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.