ARADEC: 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.
ARADEC
Largest movements
- Tangible fixed assets -€64,478
down €64,478 (-22.7%), from €283,997 to €219,519
of which Leasing and similar rights: -€38,322
- Receivables within one year -€59,167
down €59,167 (-16.5%), from €358,245 to €299,079
of which Trade receivables: -€67,781
- Stocks and contracts -€37,399
down €37,399 (-10.2%), from €368,201 to €330,803
of which Contracts in progress: -€66,936
- Cash +€22,787
up €22,787 (+18.9%), from €120,254 to €143,041
mainly Net result for the year (+€96,850) and Depreciation (+€73,040)
- Trade debts -€100,763
down €100,763 (-15.8%), from €639,171 to €538,408
- Short-term financial debts -€50,000
down €50,000 (-22.2%), from €225,000 to €175,000
- Profit (loss) carried forward +€46,850
up €46,850 (+65.1%), from €71,986 to €118,836
- Debts after one year -€30,064
down €30,064 (-25.9%), from €115,925 to €85,861
- Other debts -€30,000
down €30,000 (-37.5%), from €80,000 to €50,000
- Gross operating margin +€29,957
up €29,957 (+2.6%), from €1.2m to €1.2m
- Staff costs +€20,464
up €20,464 (+2.1%), from €955,033 to €975,497
- Depreciation +€17,267
up €17,267 (+31.0%), from €55,772 to €73,040
- Taxes +€12,100
up €12,100 (+129.4%), from €9,353 to €21,453
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 | €1,242,878 | €1,099,375 | -€143,502 | -11.5% |
| Fixed assets | 21/28 | €296,177 | €226,453 | -€69,724 | -23.5% |
| Intangible fixed assets | 21 | €9,701 | €4,456 | -€5,245 | -54.1% |
| Tangible fixed assets | 22/27 | €283,997 | €219,519 | -€64,478 | -22.7% |
| Plant, machinery and equipment | 23 | €30,638 | €22,858 | -€7,780 | -25.4% |
| Furniture and vehicles | 24 | €36,478 | €28,942 | -€7,536 | -20.7% |
| Leasing and similar rights | 25 | €145,654 | €107,332 | -€38,322 | -26.3% |
| Other tangible fixed assets | 26 | €71,228 | €60,387 | -€10,841 | -15.2% |
| Financial fixed assets | 28 | €2,478 | €2,478 | = | 0.0% |
| Current assets | 29/58 | €946,701 | €872,922 | -€73,779 | -7.8% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €368,201 | €330,803 | -€37,399 | -10.2% |
| Stocks | 30/36 | €130,449 | €159,986 | +€29,537 | +22.6% |
| Contracts in progress | 37 | €237,753 | €170,817 | -€66,936 | -28.2% |
| Amounts receivable within one year | 40/41 | €358,245 | €299,079 | -€59,167 | -16.5% |
| Trade receivables | 40 | €236,467 | €168,686 | -€67,781 | -28.7% |
| Other amounts receivable | 41 | €121,778 | €130,392 | +€8,614 | +7.1% |
| Cash at bank and in hand | 54/58 | €120,254 | €143,041 | +€22,787 | +18.9% |
| Total equity and liabilities | 10/49 | €1,242,878 | €1,099,375 | -€143,502 | -11.5% |
| Equity | 10/15 | €93,986 | €140,836 | +€46,850 | +49.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,986 | €118,836 | +€46,850 | +65.1% |
| Amounts payable | 17/49 | €1,148,892 | €958,539 | -€190,352 | -16.6% |
| Amounts payable after more than one year | 17 | €115,925 | €85,861 | -€30,064 | -25.9% |
| Financial debts | 170/4 | €115,925 | €85,861 | -€30,064 | -25.9% |
| Amounts payable within one year | 42/48 | €1,032,966 | €872,678 | -€160,288 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €39,612 | €34,975 | -€4,637 | -11.7% |
| Financial debts | 43 | €225,000 | €175,000 | -€50,000 | -22.2% |
| Credit institutions | 430/8 | €225,000 | €175,000 | -€50,000 | -22.2% |
| Trade debts | 44 | €639,171 | €538,408 | -€100,763 | -15.8% |
| Suppliers | 440/4 | €639,171 | €538,408 | -€100,763 | -15.8% |
| Taxes, remuneration and social security | 45 | €49,184 | €74,295 | +€25,112 | +51.1% |
| Taxes | 450/3 | - | €11,453 | +€11,453 | |
| Remuneration and social security | 454/9 | €49,184 | €62,843 | +€13,659 | +27.8% |
| Other amounts payable | 47/48 | €80,000 | €50,000 | -€30,000 | -37.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €955,033 | €975,497 | +€20,464 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,772 | €73,040 | +€17,267 | +31.0% |
| Other operating charges | 640/8 | €11,088 | €8,033 | -€3,055 | -27.6% |
| Gross operating margin | 9900 | €1,163,155 | €1,193,112 | +€29,957 | +2.6% |
| Operating profit (loss) | 9901 | €141,262 | €136,543 | -€4,719 | -3.3% |
| Financial income | 75/76B | €2,115 | €2,336 | +€221 | +10.4% |
| Recurring financial income | 75 | €2,115 | €2,336 | +€221 | +10.4% |
| Financial charges | 65/66B | €21,513 | €20,576 | -€937 | -4.4% |
| Recurring financial charges | 65 | €21,513 | €20,576 | -€937 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €121,864 | €118,302 | -€3,561 | -2.9% |
| Income taxes | 67/77 | €9,353 | €21,453 | +€12,100 | +129.4% |
| Profit (loss) for the period | 9904 | €112,511 | €96,850 | -€15,661 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €112,511 | €96,850 | -€15,661 | -13.9% |
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 4 October 2026 via checked.be.