Arasay: 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.
Arasay
Largest movements
- Receivables within one year +€45,449
up €45,449 (+657.7%), from €6,910 to €52,359
- Tangible fixed assets +€18,995
up €18,995 (+18.8%), from €100,794 to €119,788
of which Other tangible fixed assets: +€13,481
- Cash -€16,581
down €16,581 (-55.3%), from €29,998 to €13,416
mainly Net result for the year (-€105,362) and Receivables within one year (-€45,449)
- Intangible fixed assets -€9,000
down €9,000 (-14.3%), from €63,000 to €54,000
- Trade debts +€148,252
up €148,252 (+132.5%), from €111,911 to €260,163
- Profit (loss) carried forward -€105,362
down €105,362 (-59.1%), from -€178,319 to -€283,681
- Tax, wage and social debts +€10,577
up €10,577 (+14.2%), from €74,698 to €85,275
of which Remuneration and social security: +€13,114
- Accrued charges and deferred income -€10,000
no longer reported in 2025 (was €10,000)
- Other debts -€5,125
no longer reported in 2025 (was €5,125)
- Staff costs +€26,021
up €26,021 (+13.6%), from €191,576 to €217,597
- Other operating charges +€9,552
up €9,552 (+32.5%), from €29,391 to €38,943
- Gross operating margin -€5,191
down €5,191 (-2.7%), from €192,429 to €187,237
- Depreciation +€4,967
up €4,967 (+19.6%), from €25,362 to €30,329
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 | €226,324 | €264,586 | +€38,262 | +16.9% |
| Fixed assets | 21/28 | €173,944 | €183,938 | +€9,995 | +5.7% |
| Intangible fixed assets | 21 | €63,000 | €54,000 | -€9,000 | -14.3% |
| Tangible fixed assets | 22/27 | €100,794 | €119,788 | +€18,995 | +18.8% |
| Plant, machinery and equipment | 23 | €63,100 | €55,794 | -€7,306 | -11.6% |
| Furniture and vehicles | 24 | - | €12,819 | +€12,819 | |
| Other tangible fixed assets | 26 | €37,694 | €51,175 | +€13,481 | +35.8% |
| Financial fixed assets | 28 | €10,150 | €10,150 | = | 0.0% |
| Current assets | 29/58 | €52,380 | €80,647 | +€28,267 | +54.0% |
| Stocks and contracts in progress | 3 | €14,500 | €14,500 | = | 0.0% |
| Stocks | 30/36 | €14,500 | €14,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,910 | €52,359 | +€45,449 | +657.7% |
| Trade receivables | 40 | €6,910 | €52,359 | +€45,449 | +657.7% |
| Cash at bank and in hand | 54/58 | €29,998 | €13,416 | -€16,581 | -55.3% |
| Deferred charges and accrued income | 490/1 | €972 | €372 | -€600 | -61.7% |
| Total equity and liabilities | 10/49 | €226,324 | €264,586 | +€38,262 | +16.9% |
| Equity | 10/15 | -€168,319 | -€273,681 | -€105,362 | -62.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,319 | -€283,681 | -€105,362 | -59.1% |
| Amounts payable | 17/49 | €394,643 | €538,266 | +€143,624 | +36.4% |
| Amounts payable within one year | 42/48 | €384,643 | €538,266 | +€153,624 | +39.9% |
| Financial debts | 43 | €192,907 | €192,828 | -€79 | 0.0% |
| Other loans | 439 | €192,907 | €192,828 | -€79 | 0.0% |
| Trade debts | 44 | €111,911 | €260,163 | +€148,252 | +132.5% |
| Suppliers | 440/4 | €111,911 | €260,163 | +€148,252 | +132.5% |
| Taxes, remuneration and social security | 45 | €74,698 | €85,275 | +€10,577 | +14.2% |
| Taxes | 450/3 | €37,575 | €35,038 | -€2,537 | -6.8% |
| Remuneration and social security | 454/9 | €37,123 | €50,237 | +€13,114 | +35.3% |
| Other amounts payable | 47/48 | €5,125 | - | -€5,125 | |
| Accrued charges and deferred income | 492/3 | €10,000 | - | -€10,000 | |
| Non-recurring operating income | 76A | €1,437 | - | -€1,437 | |
| Remuneration, social security and pensions | 62 | €191,576 | €217,597 | +€26,021 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,362 | €30,329 | +€4,967 | +19.6% |
| Other operating charges | 640/8 | €29,391 | €38,943 | +€9,552 | +32.5% |
| Non-recurring operating charges | 66A | - | €65 | +€65 | |
| Gross operating margin | 9900 | €192,429 | €187,237 | -€5,191 | -2.7% |
| Operating profit (loss) | 9901 | -€53,900 | -€99,697 | -€45,797 | -85.0% |
| Financial income | 75/76B | €11 | €7 | -€4 | -37.8% |
| Recurring financial income | 75 | €11 | €7 | -€4 | -37.8% |
| Financial charges | 65/66B | €6,822 | €5,671 | -€1,151 | -16.9% |
| Recurring financial charges | 65 | €6,822 | €5,671 | -€1,151 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | -€60,712 | -€105,362 | -€44,650 | -73.5% |
| Profit (loss) for the period | 9904 | -€60,712 | -€105,362 | -€44,650 | -73.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,712 | -€105,362 | -€44,650 | -73.5% |
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 10 October 2026 via checked.be.