ARAGON: 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.
ARAGON
Largest movements
- Receivables within one year -€86,300
down €86,300 (-85.0%), from €101,505 to €15,205
of which Trade receivables: -€79,836
- Cash +€52,707
up €52,707 (+14.2%), from €370,286 to €422,994
mainly Net result for the year (+€149,632) and Receivables within one year (+€86,300)
- Tangible fixed assets -€12,036
down €12,036 (-21.3%), from €56,614 to €44,578
of which Furniture and vehicles: -€17,496
- Profit (loss) carried forward -€80,368
down €80,368 (-39.1%), from €205,541 to €125,172
- Reserves +€75,000
up €75,000 (+41.2%), from €181,869 to €256,869
of which Distributable reserves: +€75,000
- Accrued charges and deferred income -€26,574
down €26,574 (-81.8%), from €32,491 to €5,916
- Other debts +€24,992
up €24,992 (+248%), from €10,068 to €35,060
- Tax, wage and social debts -€13,610
down €13,610 (-48.9%), from €27,857 to €14,246
of which Remuneration and social security: -€15,881
- Staff costs -€58,476
down €58,476 (-65.4%), from €89,410 to €30,935
- Taxes +€28,363
up €28,363 (+74.5%), from €38,081 to €66,444
- Gross operating margin +€17,685
up €17,685 (+7.1%), from €249,118 to €266,803
- Financial income -€3,693
down €3,693 (-72.0%), from €5,129 to €1,436
of which Non-recurring financial income: -€4,752
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 | €534,574 | €490,277 | -€44,297 | -8.3% |
| Fixed assets | 21/28 | €56,614 | €44,578 | -€12,036 | -21.3% |
| Tangible fixed assets | 22/27 | €56,614 | €44,578 | -€12,036 | -21.3% |
| Plant, machinery and equipment | 23 | €1,427 | €816 | -€611 | -42.8% |
| Furniture and vehicles | 24 | €49,216 | €31,720 | -€17,496 | -35.5% |
| Assets under construction and advance payments | 27 | €5,971 | €12,042 | +€6,071 | +102% |
| Current assets | 29/58 | €477,961 | €445,699 | -€32,262 | -6.7% |
| Amounts receivable within one year | 40/41 | €101,505 | €15,205 | -€86,300 | -85.0% |
| Trade receivables | 40 | €94,705 | €14,869 | -€79,836 | -84.3% |
| Other amounts receivable | 41 | €6,800 | €336 | -€6,465 | -95.1% |
| Cash at bank and in hand | 54/58 | €370,286 | €422,994 | +€52,707 | +14.2% |
| Deferred charges and accrued income | 490/1 | €6,169 | €7,500 | +€1,331 | +21.6% |
| Total equity and liabilities | 10/49 | €534,574 | €490,277 | -€44,297 | -8.3% |
| Equity | 10/15 | €406,010 | €400,642 | -€5,368 | -1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €181,869 | €256,869 | +€75,000 | +41.2% |
| Tax-exempt reserves | 132 | €15,009 | €15,009 | = | 0.0% |
| Distributable reserves | 133 | €166,860 | €241,860 | +€75,000 | +44.9% |
| Profit (loss) carried forward | 14 | €205,541 | €125,172 | -€80,368 | -39.1% |
| Amounts payable | 17/49 | €128,564 | €89,635 | -€38,929 | -30.3% |
| Amounts payable after more than one year | 17 | €26,307 | €13,304 | -€13,003 | -49.4% |
| Financial debts | 170/4 | €26,307 | €13,304 | -€13,003 | -49.4% |
| Amounts payable within one year | 42/48 | €69,767 | €70,415 | +€648 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €14,273 | €13,003 | -€1,271 | -8.9% |
| Trade debts | 44 | €17,569 | €8,106 | -€9,463 | -53.9% |
| Suppliers | 440/4 | €17,569 | €8,106 | -€9,463 | -53.9% |
| Taxes, remuneration and social security | 45 | €27,857 | €14,246 | -€13,610 | -48.9% |
| Taxes | 450/3 | €11,000 | €13,271 | +€2,271 | +20.6% |
| Remuneration and social security | 454/9 | €16,857 | €975 | -€15,881 | -94.2% |
| Other amounts payable | 47/48 | €10,068 | €35,060 | +€24,992 | +248% |
| Accrued charges and deferred income | 492/3 | €32,491 | €5,916 | -€26,574 | -81.8% |
| Remuneration, social security and pensions | 62 | €89,410 | €30,935 | -€58,476 | -65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,422 | €18,480 | +€57 | +0.3% |
| Other operating charges | 640/8 | €1,090 | €705 | -€386 | -35.4% |
| Non-recurring operating charges | 66A | €300 | - | -€300 | |
| Gross operating margin | 9900 | €249,118 | €266,803 | +€17,685 | +7.1% |
| Operating profit (loss) | 9901 | €139,895 | €216,684 | +€76,789 | +54.9% |
| Financial income | 75/76B | €5,129 | €1,436 | -€3,693 | -72.0% |
| Recurring financial income | 75 | €151 | €1,211 | +€1,060 | +700% |
| Non-recurring financial income | 76B | €4,977 | €225 | -€4,752 | -95.5% |
| Financial charges | 65/66B | €2,175 | €2,045 | -€131 | -6.0% |
| Recurring financial charges | 65 | €2,175 | €2,045 | -€131 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €142,849 | €216,076 | +€73,227 | +51.3% |
| Income taxes | 67/77 | €38,081 | €66,444 | +€28,363 | +74.5% |
| Profit (loss) for the period | 9904 | €104,768 | €149,632 | +€44,864 | +42.8% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €104,768 | €149,632 | +€44,864 | +42.8% |
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 16 October 2026 via checked.be.