Advanced e-Technologies (AeTech) Publishes Delayed Financial Statements for 2024
With a few months of delay, Advanced e-Technologies (AeTech) has published its financial statements for the 2024 fiscal year. The year was complicated, ending with a loss of 0.956 MTND. However, this is still an improvement over the previous year, which ended with a loss of -1.613 MTND.
Key Financial Highlights
- Revenue was divided by three, reaching only 0.407 MTND.
- Operating expenses decreased by 57.4% to 1.073 MTND, primarily due to reduced consumption expenses.
- Personnel expenses decreased by 27.7% to 0.614 MTND.
- The company paid financial expenses of 0.282 MTND.
- Its debt is mainly composed of short-term bank loans, totaling 3.423 MTND as of December 31, 2024.
- AeTech finances itself through treasury bills (1.400 MTND) and bank overdrafts (0.630 MTND).
Tax Audit and Financial Situation
AeTech underwent an in-depth audit in 2024 for corporate tax, provisional installments, value-added tax, withholding tax, professional training tax, the Housing Promotion Fund for Employees, industrial, commercial, or professional establishment tax, stamp duty, and social solidarity contribution for the periods 2020, 2021, 2022, and 2023.
- The company received a first tax notice on December 24, 2024, and responded to the tax authorities within the deadline.
- A second notification was received on April 28, 2025, which maintained some adjustment points and accepted the company's opposition on other points.
- The company opposed the remaining adjustment points in the second notification as of May 12, 2025.
- The accounts do not include any provisions related to this tax audit.
Consolidated Results and Outlook
The consolidated net result of the Group is also negative, at -0.714 MTND. The recipe for the company to restart remains the same: a significant recapitalization. Its equity is -4.936 MTND. Otherwise, it is difficult to see how it could recover by relying solely on its activity.
