ARAFF: 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.
ARAFF
Largest movements
- Receivables within one year -€27,552
down €27,552 (-75.2%), from €36,627 to €9,075
of which Other amounts receivable: -€29,287
- Cash +€10,430
up €10,430 (+94.4%), from €11,046 to €21,477
mainly Receivables within one year (+€27,552) and Investment in fixed assets (net) (+€4,834)
- Tangible fixed assets -€6,392
down €6,392 (-60.1%), from €10,634 to €4,242
of which Furniture and vehicles: -€4,834
- Stocks and contracts +€2,897
up €2,897 (+90.8%), from €3,192 to €6,089
- Deferred charges and accrued income -€913
no longer reported in 2024 (was €913)
- Profit (loss) carried forward -€16,461
down €16,461 (-54.7%), from €30,085 to €13,624
- Tax, wage and social debts -€7,519
down €7,519 (-90.1%), from €8,342 to €822
of which Remuneration and social security: -€6,587
- Other debts +€1,856
up €1,856 (+3829.1%), from €48 to €1,904
- Gross operating margin -€15,290
down €15,290 (-15.0%), from €101,973 to €86,683
- Staff costs -€12,218
down €12,218 (-14.4%), from €84,666 to €72,447
- Taxes +€6,025
new in 2024: €6,025
- Other operating charges +€5,984
up €5,984 (+154.8%), from €3,864 to €9,848
- Financial charges +€3,356
up €3,356 (+65.9%), from €5,089 to €8,444
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,412 | €40,883 | -€21,529 | -34.5% |
| Fixed assets | 21/28 | €10,634 | €4,242 | -€6,392 | -60.1% |
| Tangible fixed assets | 22/27 | €10,634 | €4,242 | -€6,392 | -60.1% |
| Plant, machinery and equipment | 23 | €5,800 | €4,242 | -€1,558 | -26.9% |
| Furniture and vehicles | 24 | €4,834 | - | -€4,834 | |
| Current assets | 29/58 | €51,778 | €36,641 | -€15,137 | -29.2% |
| Stocks and contracts in progress | 3 | €3,192 | €6,089 | +€2,897 | +90.8% |
| Stocks | 30/36 | €3,192 | €6,089 | +€2,897 | +90.8% |
| Amounts receivable within one year | 40/41 | €36,627 | €9,075 | -€27,552 | -75.2% |
| Trade receivables | 40 | - | €1,736 | +€1,736 | |
| Other amounts receivable | 41 | €36,627 | €7,340 | -€29,287 | -80.0% |
| Cash at bank and in hand | 54/58 | €11,046 | €21,477 | +€10,430 | +94.4% |
| Deferred charges and accrued income | 490/1 | €913 | - | -€913 | |
| Total equity and liabilities | 10/49 | €62,412 | €40,883 | -€21,529 | -34.5% |
| Equity | 10/15 | €45,085 | €28,624 | -€16,461 | -36.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,085 | €13,624 | -€16,461 | -54.7% |
| Amounts payable | 17/49 | €17,327 | €12,259 | -€5,068 | -29.2% |
| Amounts payable within one year | 42/48 | €17,327 | €12,259 | -€5,068 | -29.2% |
| Trade debts | 44 | €8,936 | €9,532 | +€596 | +6.7% |
| Suppliers | 440/4 | €8,936 | €9,532 | +€596 | +6.7% |
| Taxes, remuneration and social security | 45 | €8,342 | €822 | -€7,519 | -90.1% |
| Taxes | 450/3 | €933 | - | -€933 | |
| Remuneration and social security | 454/9 | €7,409 | €822 | -€6,587 | -88.9% |
| Other amounts payable | 47/48 | €48 | €1,904 | +€1,856 | +3829.1% |
| Remuneration, social security and pensions | 62 | €84,666 | €72,447 | -€12,218 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,884 | €1,558 | -€1,326 | -46.0% |
| Other operating charges | 640/8 | €3,864 | €9,848 | +€5,984 | +154.8% |
| Non-recurring operating charges | 66A | - | €4,834 | +€4,834 | |
| Gross operating margin | 9900 | €101,973 | €86,683 | -€15,290 | -15.0% |
| Operating profit (loss) | 9901 | €10,559 | -€2,004 | -€12,563 | |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €5,089 | €8,444 | +€3,356 | +65.9% |
| Recurring financial charges | 65 | €5,089 | €8,444 | +€3,356 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | €5,470 | -€10,436 | -€15,906 | |
| Income taxes | 67/77 | - | €6,025 | +€6,025 | |
| Profit (loss) for the period | 9904 | €5,470 | -€16,461 | -€21,931 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,470 | -€16,461 | -€21,931 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.