SJEF 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.
SJEF AERTS
Largest movements
- Stocks and contracts -€160,850
down €160,850 (-76.3%), from €210,850 to €50,000
- Receivables within one year +€105,249
up €105,249 (+52.7%), from €199,712 to €304,961
of which Other amounts receivable: +€65,088
- Cash +€6,643
up €6,643 (+137%), from €4,838 to €11,481
mainly Stocks and contracts (+€160,850) and Accrued charges and deferred income (+€75,000)
- Other debts -€122,209
down €122,209 (-70.9%), from €172,255 to €50,045
- Accrued charges and deferred income +€75,000
new in 2025: €75,000
- Trade debts -€24,179
no longer reported in 2025 (was €24,179)
- Tax, wage and social debts +€13,777
up €13,777 (+146%), from €9,411 to €23,188
- Reserves +€8,483
up €8,483 (+13.8%), from €61,535 to €70,018
- Gross operating margin -€12,955
down €12,955 (-34.5%), from €37,576 to €24,622
- Taxes -€4,625
down €4,625 (-49.1%), from €9,411 to €4,787
- Financial charges +€1,632
up €1,632 (+16.9%), from €9,656 to €11,289
- Other operating charges -€439
down €439 (-87.4%), from €502 to €63
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 | €415,570 | €366,442 | -€49,128 | -11.8% |
| Fixed assets | 21/28 | €170 | - | -€170 | |
| Financial fixed assets | 28 | €170 | - | -€170 | |
| Current assets | 29/58 | €415,400 | €366,442 | -€48,958 | -11.8% |
| Stocks and contracts in progress | 3 | €210,850 | €50,000 | -€160,850 | -76.3% |
| Stocks | 30/36 | €210,850 | €50,000 | -€160,850 | -76.3% |
| Amounts receivable within one year | 40/41 | €199,712 | €304,961 | +€105,249 | +52.7% |
| Trade receivables | 40 | €181,500 | €221,661 | +€40,161 | +22.1% |
| Other amounts receivable | 41 | €18,212 | €83,300 | +€65,088 | +357% |
| Cash at bank and in hand | 54/58 | €4,838 | €11,481 | +€6,643 | +137% |
| Total equity and liabilities | 10/49 | €415,570 | €366,442 | -€49,128 | -11.8% |
| Equity | 10/15 | €84,725 | €93,208 | +€8,483 | +10.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €61,535 | €70,018 | +€8,483 | +13.8% |
| Distributable reserves | 133 | €61,535 | €70,018 | +€8,483 | +13.8% |
| Profit (loss) carried forward | 14 | €4,640 | €4,640 | = | 0.0% |
| Amounts payable | 17/49 | €330,845 | €273,234 | -€57,611 | -17.4% |
| Amounts payable within one year | 42/48 | €330,845 | €198,234 | -€132,611 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €24,179 | - | -€24,179 | |
| Suppliers | 440/4 | €24,179 | - | -€24,179 | |
| Taxes, remuneration and social security | 45 | €9,411 | €23,188 | +€13,777 | +146% |
| Taxes | 450/3 | €9,411 | €23,188 | +€13,777 | +146% |
| Other amounts payable | 47/48 | €172,255 | €50,045 | -€122,209 | -70.9% |
| Accrued charges and deferred income | 492/3 | - | €75,000 | +€75,000 | |
| Other operating charges | 640/8 | €502 | €63 | -€439 | -87.4% |
| Gross operating margin | 9900 | €37,576 | €24,622 | -€12,955 | -34.5% |
| Operating profit (loss) | 9901 | €37,074 | €24,558 | -€12,516 | -33.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,656 | €11,289 | +€1,632 | +16.9% |
| Recurring financial charges | 65 | €9,656 | €11,289 | +€1,632 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €27,418 | €13,270 | -€14,148 | -51.6% |
| Income taxes | 67/77 | €9,411 | €4,787 | -€4,625 | -49.1% |
| Profit (loss) for the period | 9904 | €18,007 | €8,483 | -€9,524 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,007 | €8,483 | -€9,524 | -52.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.