A.R.L.: 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.
What changed
A.R.L.
NACE 55.209, Other holiday and short-stay accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€63,571
2024 · -€67,522+€3,951
Equity
€244,799
2024 · €308,370-€63,571
Cash
€5,986
2024 · €4,219+€1,767
Balance sheet total
€1.4m
2024 · €1.5m-€128,691
Largest movements
Assets
- Tangible fixed assets -€152,805
down €152,805 (-10.2%), from €1.5m to €1.3m
of which Land and buildings: -€151,848
- Receivables within one year +€22,627
up €22,627 (+1,264%), from €1,790 to €24,417
Equity and liabilities
- Debts after one year -€62,109
down €62,109 (-10.5%), from €592,561 to €530,452
- Reserves -€40,951
down €40,951 (-8.7%), from €468,137 to €427,186
of which Tax-exempt reserves: -€40,951
- Other debts +€34,263
up €34,263 (+16.0%), from €213,759 to €248,022
- Current portion of long-term debt -€33,825
down €33,825 (-40.4%), from €83,668 to €49,843
- Profit (loss) carried forward -€22,620
down €22,620 (-10.8%), from -€209,346 to -€231,966
Income statement
- Gross operating margin +€26,685
up €26,685 (+26.7%), from €99,829 to €126,514
- Other operating charges +€18,447
up €18,447 (+147%), from €12,577 to €31,024
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.
Result 2024
-€67,522
Gross operating margin
+€26,685
Depreciation
-€1,188
Write-downs
-€1,151
Other operating charges
-€18,447
Financial income
-€356
Financial charges
+€334
Taxes
-€141
Deferred taxes and other
-€1,785
Result 2025
-€63,571
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€101,825
Investment
-€4,124
Financing
-€95,934
Cash 2024
€4,219
From operations (derived)
+€101,825
Net result for the year
-€63,571
Depreciation
+€157,273
Receivables within one year
-€22,627
Deferred charges and accrued income
-€64
Provisions
-€21,084
Trade debts
+€13,381
Tax, wage and social debts
+€4,254
Other debts
+€34,263
Investment (derived)
-€4,124
Investment in fixed assets (net)
-€4,124
Financing
-€95,934
Debts after one year
-€62,109
Current portion of long-term debt
-€33,825
Cash 2025
€5,986
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,508,288 | €1,379,597 | -€128,691 | -8.5% |
| Formation expenses | 20 | €344 | - | -€344 | |
| Fixed assets | 21/28 | €1,501,443 | €1,348,638 | -€152,805 | -10.2% |
| Tangible fixed assets | 22/27 | €1,500,785 | €1,347,980 | -€152,805 | -10.2% |
| Land and buildings | 22 | €1,492,513 | €1,340,665 | -€151,848 | -10.2% |
| Plant, machinery and equipment | 23 | €772 | €66 | -€706 | -91.5% |
| Furniture and vehicles | 24 | €7,500 | €7,249 | -€251 | -3.3% |
| Financial fixed assets | 28 | €658 | €658 | = | 0.0% |
| Current assets | 29/58 | €6,501 | €30,959 | +€24,458 | +376% |
| Amounts receivable within one year | 40/41 | €1,790 | €24,417 | +€22,627 | +1,264% |
| Trade receivables | 40 | €1,790 | €24,417 | +€22,627 | +1,264% |
| Cash at bank and in hand | 54/58 | €4,219 | €5,986 | +€1,767 | +41.9% |
| Deferred charges and accrued income | 490/1 | €492 | €556 | +€64 | +13.0% |
| Total equity and liabilities | 10/49 | €1,508,288 | €1,379,597 | -€128,691 | -8.5% |
| Equity | 10/15 | €308,370 | €244,799 | -€63,571 | -20.6% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €468,137 | €427,186 | -€40,951 | -8.7% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €463,137 | €422,186 | -€40,951 | -8.8% |
| Profit (loss) carried forward | 14 | -€209,346 | -€231,966 | -€22,620 | -10.8% |
| Provisions and deferred taxes | 16 | €238,479 | €217,395 | -€21,084 | -8.8% |
| Deferred taxes | 168 | €238,479 | €217,395 | -€21,084 | -8.8% |
| Amounts payable | 17/49 | €961,439 | €917,403 | -€44,036 | -4.6% |
| Amounts payable after more than one year | 17 | €592,561 | €530,452 | -€62,109 | -10.5% |
| Financial debts | 170/4 | €592,561 | €530,452 | -€62,109 | -10.5% |
| Amounts payable within one year | 42/48 | €368,878 | €386,951 | +€18,073 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €83,668 | €49,843 | -€33,825 | -40.4% |
| Trade debts | 44 | €32,601 | €45,982 | +€13,381 | +41.0% |
| Suppliers | 440/4 | €32,601 | €45,982 | +€13,381 | +41.0% |
| Taxes, remuneration and social security | 45 | €38,850 | €43,104 | +€4,254 | +10.9% |
| Taxes | 450/3 | €8,850 | €18,635 | +€9,785 | +111% |
| Remuneration and social security | 454/9 | €30,000 | €24,469 | -€5,531 | -18.4% |
| Other amounts payable | 47/48 | €213,759 | €248,022 | +€34,263 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,085 | €157,273 | +€1,188 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,151 | +€1,151 | |
| Other operating charges | 640/8 | €12,577 | €31,024 | +€18,447 | +147% |
| Gross operating margin | 9900 | €99,829 | €126,514 | +€26,685 | +26.7% |
| Operating profit (loss) | 9901 | -€68,833 | -€62,934 | +€5,899 | +8.6% |
| Financial income | 75/76B | €356 | - | -€356 | |
| Recurring financial income | 75 | €356 | - | -€356 | |
| Financial charges | 65/66B | €21,915 | €21,581 | -€334 | -1.5% |
| Recurring financial charges | 65 | €21,915 | €21,581 | -€334 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | -€90,392 | -€84,515 | +€5,877 | +6.5% |
| Transfer from deferred taxes | 780 | €22,870 | €21,085 | -€1,785 | -7.8% |
| Income taxes | 67/77 | - | €141 | +€141 | |
| Profit (loss) for the period | 9904 | -€67,522 | -€63,571 | +€3,951 | +5.9% |
| Transfer from tax-exempt reserves | 789 | €39,161 | €40,951 | +€1,790 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,361 | -€22,620 | +€5,741 | +20.2% |
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 23 October 2026 via checked.be.