ARAS IMMO: 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.
ARAS IMMO
Largest movements
- Tangible fixed assets -€192,634
down €192,634 (-12.8%), from €1.5m to €1.3m
of which Assets under construction and advance payments: -€100,240
- Receivables after one year +€82,400
new in 2025: €82,400
- Debts after one year -€164,288
down €164,288 (-15.1%), from €1.1m to €926,098
- Reserves +€41,708
up €41,708 (+14.9%), from €280,437 to €322,145
- Depreciation +€8,553
up €8,553 (+5.3%), from €160,698 to €169,251
- Gross operating margin -€4,610
down €4,610 (-1.7%), from €264,530 to €259,921
- Financial income +€4,006
up €4,006 (+597961.2%), from €1 to €4,007
- Taxes -€3,331
down €3,331 (-18.1%), from €18,419 to €15,088
- Financial charges -€3,057
down €3,057 (-7.7%), from €39,673 to €36,616
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.
Cash bridge derived
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 | €1,570,529 | €1,451,636 | -€118,893 | -7.6% |
| Fixed assets | 21/28 | €1,507,852 | €1,315,218 | -€192,634 | -12.8% |
| Tangible fixed assets | 22/27 | €1,507,852 | €1,315,218 | -€192,634 | -12.8% |
| Land and buildings | 22 | €1,372,127 | €1,288,423 | -€83,704 | -6.1% |
| Plant, machinery and equipment | 23 | €35,485 | €26,795 | -€8,690 | -24.5% |
| Assets under construction and advance payments | 27 | €100,240 | - | -€100,240 | |
| Current assets | 29/58 | €62,677 | €136,418 | +€73,742 | +117.7% |
| Amounts receivable after more than one year | 29 | - | €82,400 | +€82,400 | |
| Other amounts receivable | 291 | - | €82,400 | +€82,400 | |
| Amounts receivable within one year | 40/41 | €6,666 | €8,741 | +€2,075 | +31.1% |
| Trade receivables | 40 | €6,666 | - | -€6,666 | |
| Other amounts receivable | 41 | - | €8,741 | +€8,741 | |
| Cash at bank and in hand | 54/58 | €53,946 | €42,410 | -€11,537 | -21.4% |
| Deferred charges and accrued income | 490/1 | €2,064 | €2,867 | +€803 | +38.9% |
| Total equity and liabilities | 10/49 | €1,570,529 | €1,451,636 | -€118,893 | -7.6% |
| Equity | 10/15 | €287,289 | €328,997 | +€41,708 | +14.5% |
| Contributions | 10/11 | €6,852 | €6,852 | = | 0.0% |
| Reserves | 13 | €280,437 | €322,145 | +€41,708 | +14.9% |
| Distributable reserves | 133 | €280,437 | €322,145 | +€41,708 | +14.9% |
| Amounts payable | 17/49 | €1,283,240 | €1,122,639 | -€160,601 | -12.5% |
| Amounts payable after more than one year | 17 | €1,090,386 | €926,098 | -€164,288 | -15.1% |
| Financial debts | 170/4 | €1,090,386 | €926,098 | -€164,288 | -15.1% |
| Amounts payable within one year | 42/48 | €192,853 | €196,540 | +€3,687 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €158,660 | €164,288 | +€5,628 | +3.5% |
| Trade debts | 44 | €4,175 | €11,535 | +€7,361 | +176.3% |
| Suppliers | 440/4 | €4,175 | €11,535 | +€7,361 | +176.3% |
| Taxes, remuneration and social security | 45 | €30,019 | €20,717 | -€9,302 | -31.0% |
| Taxes | 450/3 | €30,019 | €20,717 | -€9,302 | -31.0% |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,698 | €169,251 | +€8,553 | +5.3% |
| Other operating charges | 640/8 | €1,943 | €1,264 | -€679 | -34.9% |
| Gross operating margin | 9900 | €264,530 | €259,921 | -€4,610 | -1.7% |
| Operating profit (loss) | 9901 | €101,889 | €89,405 | -€12,483 | -12.3% |
| Financial income | 75/76B | €1 | €4,007 | +€4,006 | +597961.2% |
| Recurring financial income | 75 | €1 | €4,007 | +€4,006 | +597961.2% |
| Financial charges | 65/66B | €39,673 | €36,616 | -€3,057 | -7.7% |
| Recurring financial charges | 65 | €39,673 | €36,616 | -€3,057 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €62,217 | €56,796 | -€5,420 | -8.7% |
| Income taxes | 67/77 | €18,419 | €15,088 | -€3,331 | -18.1% |
| Profit (loss) for the period | 9904 | €43,798 | €41,708 | -€2,090 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,798 | €41,708 | -€2,090 | -4.8% |
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 9 October 2026 via checked.be.