William 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.
William Aerts
Largest movements
- Cash +€83,385
up €83,385 (+361.1%), from €23,093 to €106,479
mainly Net result for the year (+€121,049) and Depreciation (+€5,692)
- Deferred charges and accrued income +€27,024
up €27,024 (+1412.1%), from €1,914 to €28,938
- Tangible fixed assets -€2,276
down €2,276 (-9.7%), from €23,443 to €21,166
of which Furniture and vehicles: -€5,292
- Receivables within one year +€1,961
up €1,961 (+341.0%), from €575 to €2,536
of which Other amounts receivable: +€2,536
- Profit (loss) carried forward +€121,049
up €121,049 (+389.7%), from €31,061 to €152,109
- Other debts -€10,357
down €10,357 (-100.0%), from €10,357 to €0
- Trade debts -€3,194
down €3,194 (-95.1%), from €3,360 to €166
- Tax, wage and social debts +€2,575
up €2,575 (+5529.9%), from €47 to €2,622
- Gross operating margin +€119,289
up €119,289 (+280.2%), from €42,571 to €161,861
- Taxes +€26,592
up €26,592 (+330.4%), from €8,049 to €34,641
- Depreciation +€2,673
up €2,673 (+88.6%), from €3,018 to €5,692
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.
Cash bridge derived
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 | €49,025 | €159,118 | +€110,094 | +224.6% |
| Fixed assets | 21/28 | €23,443 | €21,166 | -€2,276 | -9.7% |
| Tangible fixed assets | 22/27 | €23,443 | €21,166 | -€2,276 | -9.7% |
| Plant, machinery and equipment | 23 | - | €3,016 | +€3,016 | |
| Furniture and vehicles | 24 | €23,443 | €18,150 | -€5,292 | -22.6% |
| Current assets | 29/58 | €25,582 | €137,952 | +€112,370 | +439.3% |
| Amounts receivable within one year | 40/41 | €575 | €2,536 | +€1,961 | +341.0% |
| Trade receivables | 40 | €575 | €0 | -€575 | -100.0% |
| Other amounts receivable | 41 | - | €2,536 | +€2,536 | |
| Cash at bank and in hand | 54/58 | €23,093 | €106,479 | +€83,385 | +361.1% |
| Deferred charges and accrued income | 490/1 | €1,914 | €28,938 | +€27,024 | +1412.1% |
| Total equity and liabilities | 10/49 | €49,025 | €159,118 | +€110,094 | +224.6% |
| Equity | 10/15 | €35,261 | €156,309 | +€121,049 | +343.3% |
| Contributions | 10/11 | €4,200 | €4,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,061 | €152,109 | +€121,049 | +389.7% |
| Amounts payable | 17/49 | €13,764 | €2,809 | -€10,955 | -79.6% |
| Amounts payable within one year | 42/48 | €13,764 | €2,788 | -€10,976 | -79.7% |
| Trade debts | 44 | €3,360 | €166 | -€3,194 | -95.1% |
| Suppliers | 440/4 | €3,360 | €166 | -€3,194 | -95.1% |
| Taxes, remuneration and social security | 45 | €47 | €2,622 | +€2,575 | +5529.9% |
| Taxes | 450/3 | €47 | €2,622 | +€2,575 | +5529.9% |
| Other amounts payable | 47/48 | €10,357 | €0 | -€10,357 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €21 | +€21 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,018 | €5,692 | +€2,673 | +88.6% |
| Other operating charges | 640/8 | €427 | €267 | -€161 | -37.6% |
| Gross operating margin | 9900 | €42,571 | €161,861 | +€119,289 | +280.2% |
| Operating profit (loss) | 9901 | €39,126 | €155,902 | +€116,777 | +298.5% |
| Financial income | 75/76B | €9 | €191 | +€182 | +2070.6% |
| Recurring financial income | 75 | €9 | €191 | +€182 | +2070.6% |
| Financial charges | 65/66B | €25 | €403 | +€379 | +1545.1% |
| Recurring financial charges | 65 | €25 | €403 | +€379 | +1545.1% |
| Profit (loss) for the period before taxes | 9903 | €39,110 | €155,690 | +€116,580 | +298.1% |
| Income taxes | 67/77 | €8,049 | €34,641 | +€26,592 | +330.4% |
| Profit (loss) for the period | 9904 | €31,061 | €121,049 | +€89,988 | +289.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,061 | €121,049 | +€89,988 | +289.7% |
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 11 October 2026 via checked.be.