ARAGUEZ José: 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.
ARAGUEZ José
Largest movements
- Tangible fixed assets +€271,400
up €271,400 (+82.3%), from €329,862 to €601,262
of which Furniture and vehicles: +€278,603
- Cash +€74,611
up €74,611 (+15.6%), from €478,012 to €552,623
mainly Trade debts (+€261,704) and Debts after one year (+€88,647)
- Stocks and contracts +€55,496
up €55,496 (+216%), from €25,720 to €81,216
of which Contracts in progress: +€44,801
- Trade debts +€261,704
up €261,704 (+133%), from €196,728 to €458,432
- Debts after one year +€88,647
up €88,647 (+153%), from €57,840 to €146,487
- Current portion of long-term debt +€28,897
up €28,897 (+200%), from €14,459 to €43,356
- Gross operating margin +€136,237
up €136,237 (+44.4%), from €306,609 to €442,846
- Staff costs +€96,652
up €96,652 (+37.6%), from €257,294 to €353,946
- Depreciation +€24,481
up €24,481 (+103%), from €23,710 to €48,191
- Financial charges +€7,726
up €7,726 (+405%), from €1,908 to €9,634
of which Financial charges: +€8,402
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 | €972,933 | €1,371,486 | +€398,553 | +41.0% |
| Fixed assets | 21/28 | €338,514 | €602,889 | +€264,375 | +78.1% |
| Tangible fixed assets | 22/27 | €329,862 | €601,262 | +€271,400 | +82.3% |
| Land and buildings | 22 | €87,827 | €86,233 | -€1,594 | -1.8% |
| Plant, machinery and equipment | 23 | €106,308 | €100,699 | -€5,609 | -5.3% |
| Furniture and vehicles | 24 | €135,727 | €414,330 | +€278,603 | +205% |
| Financial fixed assets | 28 | €8,652 | €1,627 | -€7,025 | -81.2% |
| Current assets | 29/58 | €634,419 | €768,597 | +€134,178 | +21.1% |
| Stocks and contracts in progress | 3 | €25,720 | €81,216 | +€55,496 | +216% |
| Stocks | 30/36 | €25,720 | €36,415 | +€10,695 | +41.6% |
| Contracts in progress | 37 | - | €44,801 | +€44,801 | |
| Amounts receivable within one year | 40/41 | €30,811 | €42,806 | +€11,995 | +38.9% |
| Trade receivables | 40 | - | €20,501 | +€20,501 | |
| Other amounts receivable | 41 | €30,811 | €22,305 | -€8,506 | -27.6% |
| Current investments | 50/53 | €75,000 | €75,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €478,012 | €552,623 | +€74,611 | +15.6% |
| Deferred charges and accrued income | 490/1 | €24,876 | €16,952 | -€7,924 | -31.9% |
| Total equity and liabilities | 10/49 | €972,933 | €1,371,486 | +€398,553 | +41.0% |
| Equity | 10/15 | €699,967 | €711,379 | +€11,412 | +1.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €20,641 | €20,641 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,207 | €6,207 | = | 0.0% |
| Distributable reserves | 133 | €11,335 | €11,335 | = | 0.0% |
| Profit (loss) carried forward | 14 | €635,267 | €646,679 | +€11,412 | +1.8% |
| Investment grants | 15 | €13,072 | €13,072 | = | 0.0% |
| Amounts payable | 17/49 | €272,966 | €660,107 | +€387,141 | +142% |
| Amounts payable after more than one year | 17 | €57,840 | €146,487 | +€88,647 | +153% |
| Financial debts | 170/4 | €57,840 | €146,487 | +€88,647 | +153% |
| Amounts payable within one year | 42/48 | €215,126 | €513,620 | +€298,494 | +139% |
| Current portion of amounts payable after more than one year | 42 | €14,459 | €43,356 | +€28,897 | +200% |
| Trade debts | 44 | €196,728 | €458,432 | +€261,704 | +133% |
| Suppliers | 440/4 | €196,728 | €458,432 | +€261,704 | +133% |
| Taxes, remuneration and social security | 45 | - | €11,832 | +€11,832 | |
| Taxes | 450/3 | - | €11,832 | +€11,832 | |
| Other amounts payable | 47/48 | €3,939 | - | -€3,939 | |
| Remuneration, social security and pensions | 62 | €257,294 | €353,946 | +€96,652 | +37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,710 | €48,191 | +€24,481 | +103% |
| Other operating charges | 640/8 | €7,010 | €7,113 | +€103 | +1.5% |
| Non-recurring operating charges | 66A | - | €8,457 | +€8,457 | |
| Gross operating margin | 9900 | €306,609 | €442,846 | +€136,237 | +44.4% |
| Operating profit (loss) | 9901 | €18,595 | €25,139 | +€6,544 | +35.2% |
| Financial income | 75/76B | €4,329 | €3,677 | -€652 | -15.1% |
| Recurring financial income | 75 | €4,329 | €3,677 | -€652 | -15.1% |
| Financial charges | 65/66B | €1,908 | €9,634 | +€7,726 | +405% |
| Recurring financial charges | 65 | €1,232 | €9,634 | +€8,402 | +682% |
| Non-recurring financial charges | 66B | €676 | - | -€676 | |
| Profit (loss) for the period before taxes | 9903 | €21,016 | €19,182 | -€1,834 | -8.7% |
| Income taxes | 67/77 | €5,279 | €7,770 | +€2,491 | +47.2% |
| Profit (loss) for the period | 9904 | €15,737 | €11,412 | -€4,325 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,737 | €11,412 | -€4,325 | -27.5% |
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 1 November 2026 via checked.be.