ARAGONIA: 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.
ARAGONIA
Largest movements
- Receivables within one year -€201,349
down €201,349 (-60.7%), from €331,869 to €130,520
of which Trade receivables: -€266,903
- Stocks and contracts -€10,207
down €10,207 (-12.6%), from €81,130 to €70,924
of which Contracts in progress: -€81,130
- Cash +€5,975
up €5,975 (+311%), from €1,919 to €7,894
mainly Receivables within one year (+€201,349) and Provisions (+€94,510)
- Profit (loss) carried forward -€214,744
down €214,744, from €73,075 to -€141,670
- Trade debts -€132,841
down €132,841 (-61.4%), from €216,275 to €83,434
- Provisions +€94,510
up €94,510 (+229%), from €41,236 to €135,746
- Contributions +€61,500
up €61,500 (+100%), from €61,500 to €123,000
- Other debts -€16,684
no longer reported in 2025 (was €16,684)
- Write-downs +€1.7m
up €1.7m, from -€1.7m to €40,000
- Gross operating margin +€1.6m
up €1.6m (+97.3%), from -€1.7m to -€44,122
- Provisions +€139,405
up €139,405, from -€44,895 to €94,510
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 | €414,919 | €212,810 | -€202,109 | -48.7% |
| Fixed assets | 21/28 | - | €3,472 | +€3,472 | |
| Financial fixed assets | 28 | - | €3,472 | +€3,472 | |
| Current assets | 29/58 | €414,919 | €209,338 | -€205,581 | -49.5% |
| Stocks and contracts in progress | 3 | €81,130 | €70,924 | -€10,207 | -12.6% |
| Stocks | 30/36 | - | €70,924 | +€70,924 | |
| Contracts in progress | 37 | €81,130 | - | -€81,130 | |
| Amounts receivable within one year | 40/41 | €331,869 | €130,520 | -€201,349 | -60.7% |
| Trade receivables | 40 | €273,074 | €6,170 | -€266,903 | -97.7% |
| Other amounts receivable | 41 | €58,795 | €124,349 | +€65,554 | +111% |
| Cash at bank and in hand | 54/58 | €1,919 | €7,894 | +€5,975 | +311% |
| Total equity and liabilities | 10/49 | €414,919 | €212,810 | -€202,109 | -48.7% |
| Equity | 10/15 | €140,725 | -€6,370 | -€147,094 | |
| Contributions | 10/11 | €61,500 | €123,000 | +€61,500 | +100% |
| Capital | 10 | €61,500 | €123,000 | +€61,500 | +100% |
| Issued capital | 100 | €61,500 | €123,000 | +€61,500 | +100% |
| Reserves | 13 | €6,150 | €12,300 | +€6,150 | +100% |
| Non-distributable reserves | 130/1 | €6,150 | €12,300 | +€6,150 | +100% |
| Legal reserve | 130 | €6,150 | €12,300 | +€6,150 | +100% |
| Profit (loss) carried forward | 14 | €73,075 | -€141,670 | -€214,744 | |
| Provisions and deferred taxes | 16 | €41,236 | €135,746 | +€94,510 | +229% |
| Provisions for liabilities and charges | 160/5 | €41,236 | €135,746 | +€94,510 | +229% |
| Other liabilities and charges | 164/5 | €41,236 | €135,746 | +€94,510 | +229% |
| Amounts payable | 17/49 | €232,958 | €83,434 | -€149,525 | -64.2% |
| Amounts payable within one year | 42/48 | €232,958 | €83,434 | -€149,525 | -64.2% |
| Trade debts | 44 | €216,275 | €83,434 | -€132,841 | -61.4% |
| Suppliers | 440/4 | €216,275 | €83,434 | -€132,841 | -61.4% |
| Other amounts payable | 47/48 | €16,684 | - | -€16,684 | |
| Non-recurring operating income | 76A | €51,424 | - | -€51,424 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,679,000 | €40,000 | +€1.7m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€44,895 | €94,510 | +€139,405 | |
| Other operating charges | 640/8 | €1,086 | €3,514 | +€2,428 | +224% |
| Gross operating margin | 9900 | -€1,655,021 | -€44,122 | +€1.6m | +97.3% |
| Operating profit (loss) | 9901 | €67,789 | -€182,146 | -€249,935 | |
| Financial income | 75/76B | €9,670 | €3,625 | -€6,045 | -62.5% |
| Recurring financial income | 75 | €9,670 | €3,625 | -€6,045 | -62.5% |
| Financial charges | 65/66B | €100 | €756 | +€656 | +656% |
| Recurring financial charges | 65 | €100 | €756 | +€656 | +656% |
| Profit (loss) for the period before taxes | 9903 | €77,358 | -€179,278 | -€256,636 | |
| Profit (loss) for the period | 9904 | €77,358 | -€179,278 | -€256,636 | |
| Profit (loss) for the period to be appropriated | 9905 | €77,358 | -€179,278 | -€256,636 |
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 19 October 2026 via checked.be.