ARAGO VENTURES: what changed
Two financial 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.
ARAGO VENTURES
Largest movements
- Tangible fixed assets +€79,284
up €79,284 (+231%), from €34,388 to €113,672
of which Land and buildings: +€90,000
- Receivables within one year -€24,841
down €24,841 (-84.8%), from €29,291 to €4,451
of which Trade receivables: -€28,847
- Receivables after one year -€15,000
no longer reported in 2025 (was €15,000)
- Cash -€6,124
down €6,124 (-15.4%), from €39,647 to €33,523
mainly Investment in fixed assets (net) (-€90,000) and Contributions, distributions and other (-€61,980)
- Other debts +€31,746
up €31,746 (+52.7%), from €60,184 to €91,930
- Reserves +€1,775
up €1,775 (+5.9%), from €30,208 to €31,982
- Other operating charges +€10,924
up €10,924 (+1,024%), from €1,066 to €11,991
- Gross operating margin +€4,816
up €4,816 (+4.6%), from €105,487 to €110,303
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.
Derived cash bridge
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 | €119,825 | €152,180 | +€32,355 | +27.0% |
| Fixed assets | 21/28 | €34,388 | €113,672 | +€79,284 | +231% |
| Tangible fixed assets | 22/27 | €34,388 | €113,672 | +€79,284 | +231% |
| Land and buildings | 22 | - | €90,000 | +€90,000 | |
| Furniture and vehicles | 24 | €34,388 | €23,672 | -€10,716 | -31.2% |
| Current assets | 29/58 | €85,438 | €38,509 | -€46,929 | -54.9% |
| Amounts receivable after more than one year | 29 | €15,000 | - | -€15,000 | |
| Other amounts receivable | 291 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €29,291 | €4,451 | -€24,841 | -84.8% |
| Trade receivables | 40 | €28,847 | - | -€28,847 | |
| Other amounts receivable | 41 | €444 | €4,451 | +€4,007 | +902% |
| Cash at bank and in hand | 54/58 | €39,647 | €33,523 | -€6,124 | -15.4% |
| Deferred charges and accrued income | 490/1 | €1,500 | €535 | -€964 | -64.3% |
| Total equity and liabilities | 10/49 | €119,825 | €152,180 | +€32,355 | +27.0% |
| Equity | 10/15 | €48,808 | €50,582 | +€1,775 | +3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,208 | €31,982 | +€1,775 | +5.9% |
| Distributable reserves | 133 | €30,208 | €31,982 | +€1,775 | +5.9% |
| Amounts payable | 17/49 | €71,018 | €101,598 | +€30,580 | +43.1% |
| Amounts payable within one year | 42/48 | €71,018 | €101,598 | +€30,580 | +43.1% |
| Trade debts | 44 | €3,083 | €2,070 | -€1,013 | -32.9% |
| Suppliers | 440/4 | €3,083 | €2,070 | -€1,013 | -32.9% |
| Taxes, remuneration and social security | 45 | €7,751 | €7,598 | -€153 | -2.0% |
| Taxes | 450/3 | €7,751 | €7,598 | -€153 | -2.0% |
| Other amounts payable | 47/48 | €60,184 | €91,930 | +€31,746 | +52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,930 | €10,716 | -€214 | -2.0% |
| Other operating charges | 640/8 | €1,066 | €11,991 | +€10,924 | +1,024% |
| Gross operating margin | 9900 | €105,487 | €110,303 | +€4,816 | +4.6% |
| Operating profit (loss) | 9901 | €93,490 | €87,596 | -€5,894 | -6.3% |
| Financial income | 75/76B | €225 | €58 | -€167 | -74.2% |
| Recurring financial income | 75 | €225 | €58 | -€167 | -74.2% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €93,670 | €87,609 | -€6,061 | -6.5% |
| Income taxes | 67/77 | €24,556 | €23,855 | -€701 | -2.9% |
| Profit (loss) for the period | 9904 | €69,114 | €63,755 | -€5,359 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,114 | €63,755 | -€5,359 | -7.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.