ARA MANAGEMENT: 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.
ARA MANAGEMENT
Largest movements
- Tangible fixed assets +€6,973
new in 2025: €6,973
- Receivables within one year -€2,918
down €2,918 (-48.4%), from €6,024 to €3,106
of which Trade receivables: -€2,918
- Cash -€836
down €836 (-93.8%), from €891 to €55
mainly Other debts (-€20,524) and Net result for the year (-€10,965)
- Deferred charges and accrued income +€654
up €654 (+1177.9%), from €55 to €709
- Debts after one year +€35,000
up €35,000 (+70.0%), from €50,000 to €85,000
- Other debts -€20,524
down €20,524 (-94.0%), from €21,834 to €1,310
- Profit (loss) carried forward -€10,965
down €10,965 (-12.1%), from -€90,984 to -€101,949
- Tax, wage and social debts +€757
up €757 (+49.2%), from €1,537 to €2,293
- Trade debts -€396
down €396 (-6.6%), from €5,984 to €5,588
- Gross operating margin +€3,123
up €3,123 (+24.5%), from -€12,737 to -€9,614
- Depreciation +€527
new in 2025: €527
- Financial charges -€222
down €222 (-43.9%), from €506 to €284
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 | €6,971 | €10,842 | +€3,872 | +55.5% |
| Fixed assets | 21/28 | - | €6,973 | +€6,973 | |
| Tangible fixed assets | 22/27 | - | €6,973 | +€6,973 | |
| Furniture and vehicles | 24 | - | €6,973 | +€6,973 | |
| Current assets | 29/58 | €6,971 | €3,870 | -€3,101 | -44.5% |
| Amounts receivable within one year | 40/41 | €6,024 | €3,106 | -€2,918 | -48.4% |
| Trade receivables | 40 | €6,022 | €3,104 | -€2,918 | -48.5% |
| Other amounts receivable | 41 | €3 | €2 | -€1 | -33.3% |
| Cash at bank and in hand | 54/58 | €891 | €55 | -€836 | -93.8% |
| Deferred charges and accrued income | 490/1 | €55 | €709 | +€654 | +1177.9% |
| Total equity and liabilities | 10/49 | €6,971 | €10,842 | +€3,872 | +55.5% |
| Equity | 10/15 | -€72,384 | -€83,349 | -€10,965 | -15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,984 | -€101,949 | -€10,965 | -12.1% |
| Amounts payable | 17/49 | €79,354 | €94,191 | +€14,837 | +18.7% |
| Amounts payable after more than one year | 17 | €50,000 | €85,000 | +€35,000 | +70.0% |
| Financial debts | 170/4 | €50,000 | €85,000 | +€35,000 | +70.0% |
| Amounts payable within one year | 42/48 | €29,354 | €9,191 | -€20,163 | -68.7% |
| Trade debts | 44 | €5,984 | €5,588 | -€396 | -6.6% |
| Suppliers | 440/4 | €5,984 | €5,588 | -€396 | -6.6% |
| Taxes, remuneration and social security | 45 | €1,537 | €2,293 | +€757 | +49.2% |
| Taxes | 450/3 | €1,537 | €2,293 | +€757 | +49.2% |
| Other amounts payable | 47/48 | €21,834 | €1,310 | -€20,524 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €527 | +€527 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€12,737 | -€9,614 | +€3,123 | +24.5% |
| Operating profit (loss) | 9901 | -€13,124 | -€10,541 | +€2,583 | +19.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €506 | €284 | -€222 | -43.9% |
| Recurring financial charges | 65 | €506 | €284 | -€222 | -43.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,630 | -€10,824 | +€2,806 | +20.6% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€13,769 | -€10,965 | +€2,804 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,769 | -€10,965 | +€2,804 | +20.4% |
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 5 October 2026 via checked.be.