AARVECO: 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.
AARVECO
Largest movements
- Current investments +€497,755
up €497,755 (+124.4%), from €400,000 to €897,755
- Receivables within one year -€448,954
down €448,954 (-94.4%), from €475,502 to €26,548
of which Trade receivables: -€457,651
- Cash -€27,640
down €27,640 (-60.5%), from €45,715 to €18,075
mainly Current investments (-€497,755) and Tax, wage and social debts (-€12,175)
- Profit (loss) carried forward +€23,646
up €23,646, from -€11,648 to €11,998
- Gross operating margin +€12,553
up €12,553 (+20.1%), from €62,340 to €74,893
- Financial income +€7,263
new in 2025: €7,263
- Staff costs +€1,699
up €1,699 (+3.2%), from €52,362 to €54,061
- Other operating charges -€1,382
down €1,382 (-30.5%), from €4,529 to €3,147
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 | €1,474,969 | €1,489,751 | +€14,782 | +1.0% |
| Fixed assets | 21/28 | €92,867 | €93,719 | +€852 | +0.9% |
| Tangible fixed assets | 22/27 | €92,867 | €93,719 | +€852 | +0.9% |
| Land and buildings | 22 | €92,867 | €92,867 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €852 | +€852 | |
| Current assets | 29/58 | €1,382,102 | €1,396,032 | +€13,930 | +1.0% |
| Stocks and contracts in progress | 3 | €459,746 | €452,324 | -€7,422 | -1.6% |
| Stocks | 30/36 | €459,746 | €452,324 | -€7,422 | -1.6% |
| Amounts receivable within one year | 40/41 | €475,502 | €26,548 | -€448,954 | -94.4% |
| Trade receivables | 40 | €474,138 | €16,487 | -€457,651 | -96.5% |
| Other amounts receivable | 41 | €1,364 | €10,061 | +€8,697 | +637.6% |
| Current investments | 50/53 | €400,000 | €897,755 | +€497,755 | +124.4% |
| Cash at bank and in hand | 54/58 | €45,715 | €18,075 | -€27,640 | -60.5% |
| Deferred charges and accrued income | 490/1 | €1,139 | €1,330 | +€191 | +16.8% |
| Total equity and liabilities | 10/49 | €1,474,969 | €1,489,751 | +€14,782 | +1.0% |
| Equity | 10/15 | €1,448,347 | €1,473,238 | +€24,891 | +1.7% |
| Contributions | 10/11 | €1,338,650 | €1,338,650 | = | 0.0% |
| Capital | 10 | €1,338,650 | €1,338,650 | = | 0.0% |
| Issued capital | 100 | €1,338,650 | €1,338,650 | = | 0.0% |
| Reserves | 13 | €121,345 | €122,590 | +€1,245 | +1.0% |
| Non-distributable reserves | 130/1 | €111,429 | €112,674 | +€1,245 | +1.1% |
| Legal reserve | 130 | €111,399 | €112,644 | +€1,245 | +1.1% |
| Other | 1319 | €30 | €30 | = | 0.0% |
| Distributable reserves | 133 | €9,916 | €9,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,648 | €11,998 | +€23,646 | |
| Amounts payable | 17/49 | €26,622 | €16,513 | -€10,109 | -38.0% |
| Amounts payable within one year | 42/48 | €26,493 | €15,782 | -€10,711 | -40.4% |
| Trade debts | 44 | €14,318 | €15,782 | +€1,464 | +10.2% |
| Suppliers | 440/4 | €14,318 | €15,782 | +€1,464 | +10.2% |
| Taxes, remuneration and social security | 45 | €12,175 | - | -€12,175 | |
| Taxes | 450/3 | €12,175 | - | -€12,175 | |
| Accrued charges and deferred income | 492/3 | €129 | €731 | +€602 | +466.7% |
| Remuneration, social security and pensions | 62 | €52,362 | €54,061 | +€1,699 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €28 | +€28 | |
| Other operating charges | 640/8 | €4,529 | €3,147 | -€1,382 | -30.5% |
| Gross operating margin | 9900 | €62,340 | €74,893 | +€12,553 | +20.1% |
| Operating profit (loss) | 9901 | €5,449 | €17,657 | +€12,208 | +224.0% |
| Financial income | 75/76B | - | €7,263 | +€7,263 | |
| Recurring financial income | 75 | - | €7,263 | +€7,263 | |
| Financial charges | 65/66B | €28 | €29 | +€1 | +3.6% |
| Recurring financial charges | 65 | €28 | €29 | +€1 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €5,421 | €24,891 | +€19,470 | +359.2% |
| Profit (loss) for the period | 9904 | €5,421 | €24,891 | +€19,470 | +359.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,421 | €24,891 | +€19,470 | +359.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.