Ten Aerde: 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.
Ten Aerde
Largest movements
- Cash -€40,794
down €40,794 (-37.8%), from €107,854 to €67,060
mainly Contributions, distributions and other (-€108,824) and Debts after one year (-€60,000)
- Tangible fixed assets -€26,278
down €26,278 (-34.3%), from €76,595 to €50,317
of which Furniture and vehicles: -€24,005
- Receivables within one year +€4,673
up €4,673 (+6.2%), from €75,897 to €80,570
of which Other amounts receivable: +€13,418
- Profit (loss) carried forward -€144,054
down €144,054 (-50.6%), from €284,875 to €140,821
- Other debts +€137,080
up €137,080 (+6,406%), from €2,140 to €139,219
- Debts after one year -€60,000
no longer reported in 2025 (was €60,000)
- Trade debts +€12,765
up €12,765 (+511%), from €2,498 to €15,263
- Tax, wage and social debts -€8,979
down €8,979 (-61.5%), from €14,602 to €5,623
- Gross operating margin -€134,339
down €134,339, from €129,930 to -€4,408
- Taxes -€27,777
no longer reported in 2025 (was €27,777)
- Depreciation +€18,091
up €18,091 (+165%), from €10,947 to €29,038
- Financial income -€12,924
down €12,924 (-99.2%), from €13,031 to €107
of which Non-recurring financial income: -€10,000
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 | €384,576 | €321,390 | -€63,186 | -16.4% |
| Fixed assets | 21/28 | €77,445 | €50,317 | -€27,128 | -35.0% |
| Tangible fixed assets | 22/27 | €76,595 | €50,317 | -€26,278 | -34.3% |
| Plant, machinery and equipment | 23 | €10,663 | €8,389 | -€2,273 | -21.3% |
| Furniture and vehicles | 24 | €65,932 | €41,927 | -€24,005 | -36.4% |
| Financial fixed assets | 28 | €850 | - | -€850 | |
| Current assets | 29/58 | €307,131 | €271,073 | -€36,058 | -11.7% |
| Stocks and contracts in progress | 3 | €118,501 | €119,452 | +€951 | +0.8% |
| Stocks | 30/36 | €118,501 | €119,452 | +€951 | +0.8% |
| Amounts receivable within one year | 40/41 | €75,897 | €80,570 | +€4,673 | +6.2% |
| Trade receivables | 40 | €61,333 | €52,588 | -€8,745 | -14.3% |
| Other amounts receivable | 41 | €14,563 | €27,982 | +€13,418 | +92.1% |
| Cash at bank and in hand | 54/58 | €107,854 | €67,060 | -€40,794 | -37.8% |
| Deferred charges and accrued income | 490/1 | €4,879 | €3,991 | -€888 | -18.2% |
| Total equity and liabilities | 10/49 | €384,576 | €321,390 | -€63,186 | -16.4% |
| Equity | 10/15 | €305,335 | €161,281 | -€144,054 | -47.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €284,875 | €140,821 | -€144,054 | -50.6% |
| Amounts payable | 17/49 | €79,241 | €160,108 | +€80,868 | +102% |
| Amounts payable after more than one year | 17 | €60,000 | - | -€60,000 | |
| Financial debts | 170/4 | €60,000 | - | -€60,000 | |
| Amounts payable within one year | 42/48 | €19,241 | €160,105 | +€140,865 | +732% |
| Trade debts | 44 | €2,498 | €15,263 | +€12,765 | +511% |
| Suppliers | 440/4 | €2,498 | €15,263 | +€12,765 | +511% |
| Taxes, remuneration and social security | 45 | €14,602 | €5,623 | -€8,979 | -61.5% |
| Taxes | 450/3 | €14,602 | €5,623 | -€8,979 | -61.5% |
| Other amounts payable | 47/48 | €2,140 | €139,219 | +€137,080 | +6,406% |
| Accrued charges and deferred income | 492/3 | - | €3 | +€3 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,947 | €29,038 | +€18,091 | +165% |
| Other operating charges | 640/8 | €1,426 | €1,381 | -€45 | -3.1% |
| Gross operating margin | 9900 | €129,930 | -€4,408 | -€134,339 | |
| Operating profit (loss) | 9901 | €117,558 | -€34,827 | -€152,385 | |
| Financial income | 75/76B | €13,031 | €107 | -€12,924 | -99.2% |
| Recurring financial income | 75 | €3,031 | €107 | -€2,924 | -96.5% |
| Non-recurring financial income | 76B | €10,000 | - | -€10,000 | |
| Financial charges | 65/66B | €521 | €510 | -€10 | -2.0% |
| Recurring financial charges | 65 | €521 | €510 | -€10 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €130,068 | -€35,231 | -€165,299 | |
| Income taxes | 67/77 | €27,777 | - | -€27,777 | |
| Profit (loss) for the period | 9904 | €102,291 | -€35,231 | -€137,521 | |
| Profit (loss) for the period to be appropriated | 9905 | €102,291 | -€35,231 | -€137,521 |
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 31 October 2026 via checked.be.