AARCO: what changed
Two fiscal 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
AARCO
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14,376
2024 · €27,475-€13,099
Equity
€602,337
2024 · €587,961+€14,376
Cash
€71,500
2024 · €77,274-€5,774
Balance sheet total
€1.0m
2024 · €1.0m-€24,444
Largest movements
Assets
- Tangible fixed assets -€16,943
down €16,943 (-1.8%), from €938,846 to €921,903
of which Land and buildings: -€24,834
Equity and liabilities
- Debts after one year -€37,546
down €37,546 (-9.6%), from €391,985 to €354,439
- Reserves +€14,376
up €14,376 (+2.5%), from €581,761 to €596,137
Income statement
- Gross operating margin -€12,574
down €12,574 (-13.8%), from €90,793 to €78,219
- Financial charges +€7,934
up €7,934 (+132.9%), from €5,971 to €13,905
- Taxes -€4,233
down €4,233 (-42.9%), from €9,868 to €5,635
- Depreciation -€3,374
down €3,374 (-8.2%), from €41,035 to €37,661
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
€27,475
Gross operating margin
-€12,574
Depreciation
+€3,374
Other operating charges
-€558
Financial income
+€360
Financial charges
-€7,934
Taxes
+€4,233
Result 2025
€14,376
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.
From operations
+€49,677
Investment
-€20,718
Financing
-€34,732
Cash 2024
€77,274
From operations (derived)
+€49,677
Net result for the year
+€14,376
Depreciation
+€37,661
Receivables within one year
+€66
Deferred charges and accrued income
+€1,662
Trade debts
-€1,113
Tax, wage and social debts
-€1,724
Other debts
-€8,804
Accrued charges and deferred income
+€7,553
Investment (derived)
-€20,718
Investment in fixed assets (net)
-€20,718
Financing
-€34,732
Debts after one year
-€37,546
Current portion of long-term debt
+€2,814
Cash 2025
€71,500
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,032,695 | €1,008,251 | -€24,444 | -2.4% |
| Fixed assets | 21/28 | €938,996 | €922,053 | -€16,943 | -1.8% |
| Tangible fixed assets | 22/27 | €938,846 | €921,903 | -€16,943 | -1.8% |
| Land and buildings | 22 | €922,959 | €898,125 | -€24,834 | -2.7% |
| Plant, machinery and equipment | 23 | €5,226 | €3,278 | -€1,948 | -37.3% |
| Furniture and vehicles | 24 | €10,239 | €20,289 | +€10,051 | +98.2% |
| Other tangible fixed assets | 26 | €423 | €211 | -€211 | -50.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €93,699 | €86,197 | -€7,502 | -8.0% |
| Amounts receivable within one year | 40/41 | €13,290 | €13,224 | -€66 | -0.5% |
| Trade receivables | 40 | €11,562 | €6,572 | -€4,990 | -43.2% |
| Other amounts receivable | 41 | €1,727 | €6,652 | +€4,924 | +285.1% |
| Cash at bank and in hand | 54/58 | €77,274 | €71,500 | -€5,774 | -7.5% |
| Deferred charges and accrued income | 490/1 | €3,136 | €1,474 | -€1,662 | -53.0% |
| Total equity and liabilities | 10/49 | €1,032,695 | €1,008,251 | -€24,444 | -2.4% |
| Equity | 10/15 | €587,961 | €602,337 | +€14,376 | +2.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €581,761 | €596,137 | +€14,376 | +2.5% |
| Distributable reserves | 133 | €581,761 | €596,137 | +€14,376 | +2.5% |
| Amounts payable | 17/49 | €444,734 | €405,914 | -€38,820 | -8.7% |
| Amounts payable after more than one year | 17 | €391,985 | €354,439 | -€37,546 | -9.6% |
| Financial debts | 170/4 | €391,985 | €354,439 | -€37,546 | -9.6% |
| Amounts payable within one year | 42/48 | €48,994 | €40,166 | -€8,827 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €34,732 | €37,546 | +€2,814 | +8.1% |
| Trade debts | 44 | €1,524 | €412 | -€1,113 | -73.0% |
| Suppliers | 440/4 | €1,524 | €412 | -€1,113 | -73.0% |
| Taxes, remuneration and social security | 45 | €3,933 | €2,209 | -€1,724 | -43.8% |
| Taxes | 450/3 | €1,983 | €2,209 | +€226 | +11.4% |
| Remuneration and social security | 454/9 | €1,950 | - | -€1,950 | |
| Other amounts payable | 47/48 | €8,804 | - | -€8,804 | |
| Accrued charges and deferred income | 492/3 | €3,755 | €11,308 | +€7,553 | +201.1% |
| Non-recurring operating income | 76A | - | €2,476 | +€2,476 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,035 | €37,661 | -€3,374 | -8.2% |
| Other operating charges | 640/8 | €6,700 | €7,258 | +€558 | +8.3% |
| Gross operating margin | 9900 | €90,793 | €78,219 | -€12,574 | -13.8% |
| Operating profit (loss) | 9901 | €43,058 | €33,300 | -€9,758 | -22.7% |
| Financial income | 75/76B | €256 | €616 | +€360 | +140.9% |
| Recurring financial income | 75 | €256 | €616 | +€360 | +140.9% |
| Financial charges | 65/66B | €5,971 | €13,905 | +€7,934 | +132.9% |
| Recurring financial charges | 65 | €5,971 | €13,905 | +€7,934 | +132.9% |
| Profit (loss) for the period before taxes | 9903 | €37,343 | €20,011 | -€17,332 | -46.4% |
| Income taxes | 67/77 | €9,868 | €5,635 | -€4,233 | -42.9% |
| Profit (loss) for the period | 9904 | €27,475 | €14,376 | -€13,099 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,475 | €14,376 | -€13,099 | -47.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.