ARARAT HOLDING: what changed
ARARAT HOLDING
Largest movements
- Receivables within one year -€8,679
down €8,679 (-8.3%), from €104,859 to €96,180
of which Trade receivables: -€8,830
- Tangible fixed assets +€1,359
up €1,359 (+78.6%), from €1,730 to €3,089
of which Plant, machinery and equipment: +€1,627
- Other debts +€24,026
up €24,026 (+123%), from €19,470 to €43,496
- Trade debts -€20,001
down €20,001 (-8.9%), from €225,570 to €205,569
- Profit (loss) carried forward -€10,323
down €10,323 (-7.3%), from -€140,703 to -€151,026
- Gross operating margin +€88,777
up €88,777 (+92.0%), from -€96,547 to -€7,770
- Other operating charges -€2,234
down €2,234 (-69.8%), from €3,199 to €964
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,337 | €104,039 | -€6,298 | -5.7% |
| Fixed assets | 21/28 | €1,730 | €3,164 | +€1,434 | +82.9% |
| Tangible fixed assets | 22/27 | €1,730 | €3,089 | +€1,359 | +78.6% |
| Plant, machinery and equipment | 23 | €1,171 | €2,798 | +€1,627 | +139% |
| Furniture and vehicles | 24 | €559 | €291 | -€268 | -47.9% |
| Financial fixed assets | 28 | - | €75 | +€75 | |
| Current assets | 29/58 | €108,607 | €100,875 | -€7,733 | -7.1% |
| Amounts receivable within one year | 40/41 | €104,859 | €96,180 | -€8,679 | -8.3% |
| Trade receivables | 40 | €104,495 | €95,665 | -€8,830 | -8.5% |
| Other amounts receivable | 41 | €364 | €515 | +€151 | +41.6% |
| Cash at bank and in hand | 54/58 | €3,748 | €4,695 | +€946 | +25.2% |
| Total equity and liabilities | 10/49 | €110,337 | €104,039 | -€6,298 | -5.7% |
| Equity | 10/15 | -€134,703 | -€145,026 | -€10,323 | -7.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,703 | -€151,026 | -€10,323 | -7.3% |
| Amounts payable | 17/49 | €245,041 | €249,065 | +€4,024 | +1.6% |
| Amounts payable within one year | 42/48 | €245,041 | €249,065 | +€4,024 | +1.6% |
| Trade debts | 44 | €225,570 | €205,569 | -€20,001 | -8.9% |
| Suppliers | 440/4 | €225,570 | €205,569 | -€20,001 | -8.9% |
| Other amounts payable | 47/48 | €19,470 | €43,496 | +€24,026 | +123% |
| Remuneration, social security and pensions | 62 | - | €238 | +€238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €302 | €1,110 | +€808 | +268% |
| Other operating charges | 640/8 | €3,199 | €964 | -€2,234 | -69.8% |
| Gross operating margin | 9900 | -€96,547 | -€7,770 | +€88,777 | +92.0% |
| Operating profit (loss) | 9901 | -€100,048 | -€10,083 | +€89,965 | +89.9% |
| Financial income | 75/76B | €15 | €50 | +€36 | +243% |
| Recurring financial income | 75 | €15 | €50 | +€36 | +243% |
| Financial charges | 65/66B | €209 | €290 | +€81 | +39.0% |
| Recurring financial charges | 65 | €209 | €290 | +€81 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | -€100,242 | -€10,323 | +€89,919 | +89.7% |
| Profit (loss) for the period | 9904 | -€100,242 | -€10,323 | +€89,919 | +89.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€100,242 | -€10,323 | +€89,919 | +89.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.