Arathi: what changed
Two fiscal 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.
Arathi
Largest movements
- Cash -€127,671
down €127,671 (-77.7%), from €164,390 to €36,719
mainly Contributions, distributions and other (-€202,971) and Debts after one year (-€9,686)
- Tangible fixed assets -€10,715
down €10,715 (-18.8%), from €56,985 to €46,270
of which Leasing and similar rights: -€9,575
- Receivables within one year -€4,035
down €4,035 (-13.1%), from €30,691 to €26,656
of which Other amounts receivable: -€18,016
- Reserves -€180,500
down €180,500 (-100.0%), from €180,500 to €0
- Other debts +€35,069
up €35,069 (+159.7%), from €21,964 to €57,033
- Provisions +€15,400
new in 2025: €15,400
- Debts after one year -€9,686
down €9,686 (-45.1%), from €21,454 to €11,768
- Tax, wage and social debts -€3,121
down €3,121 (-26.5%), from €11,796 to €8,675
- Gross operating margin +€31,601
up €31,601 (+85.6%), from €36,906 to €68,507
- Provisions +€15,400
new in 2025: €15,400
- Depreciation +€6,812
up €6,812 (+109.1%), from €6,245 to €13,057
- Taxes +€5,508
up €5,508 (+73.2%), from €7,526 to €13,034
- Financial charges +€1,961
up €1,961 (+244.8%), from €801 to €2,763
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 | €252,125 | €111,949 | -€140,176 | -55.6% |
| Fixed assets | 21/28 | €56,985 | €46,270 | -€10,715 | -18.8% |
| Tangible fixed assets | 22/27 | €56,985 | €46,270 | -€10,715 | -18.8% |
| Land and buildings | 22 | €20,607 | €19,467 | -€1,140 | -5.5% |
| Plant, machinery and equipment | 23 | €1,649 | €1,244 | -€405 | -24.6% |
| Furniture and vehicles | 24 | €3,700 | €4,105 | +€405 | +11.0% |
| Leasing and similar rights | 25 | €31,029 | €21,454 | -€9,575 | -30.9% |
| Current assets | 29/58 | €195,140 | €65,679 | -€129,461 | -66.3% |
| Amounts receivable within one year | 40/41 | €30,691 | €26,656 | -€4,035 | -13.1% |
| Trade receivables | 40 | €9,600 | €23,580 | +€13,980 | +145.6% |
| Other amounts receivable | 41 | €21,091 | €3,076 | -€18,016 | -85.4% |
| Cash at bank and in hand | 54/58 | €164,390 | €36,719 | -€127,671 | -77.7% |
| Deferred charges and accrued income | 490/1 | €58 | €2,304 | +€2,246 | +3865.6% |
| Total equity and liabilities | 10/49 | €252,125 | €111,949 | -€140,176 | -55.6% |
| Equity | 10/15 | €181,500 | €1,000 | -€180,500 | -99.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €180,500 | €0 | -€180,500 | -100.0% |
| Distributable reserves | 133 | €180,500 | €0 | -€180,500 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €15,400 | +€15,400 | |
| Provisions for liabilities and charges | 160/5 | - | €15,400 | +€15,400 | |
| Other liabilities and charges | 164/5 | - | €15,400 | +€15,400 | |
| Amounts payable | 17/49 | €70,625 | €95,549 | +€24,924 | +35.3% |
| Amounts payable after more than one year | 17 | €21,454 | €11,768 | -€9,686 | -45.1% |
| Financial debts | 170/4 | €21,454 | €11,768 | -€9,686 | -45.1% |
| Amounts payable within one year | 42/48 | €45,807 | €78,958 | +€33,151 | +72.4% |
| Current portion of amounts payable after more than one year | 42 | €9,331 | €9,686 | +€355 | +3.8% |
| Trade debts | 44 | €2,716 | €3,564 | +€848 | +31.2% |
| Suppliers | 440/4 | €2,716 | €3,564 | +€848 | +31.2% |
| Taxes, remuneration and social security | 45 | €11,796 | €8,675 | -€3,121 | -26.5% |
| Taxes | 450/3 | €11,796 | €8,675 | -€3,121 | -26.5% |
| Other amounts payable | 47/48 | €21,964 | €57,033 | +€35,069 | +159.7% |
| Accrued charges and deferred income | 492/3 | €3,363 | €4,823 | +€1,460 | +43.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,245 | €13,057 | +€6,812 | +109.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €15,400 | +€15,400 | |
| Other operating charges | 640/8 | €374 | €1,783 | +€1,409 | +376.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €36,906 | €68,507 | +€31,601 | +85.6% |
| Operating profit (loss) | 9901 | €30,287 | €38,268 | +€7,981 | +26.4% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.6% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.6% |
| Financial charges | 65/66B | €801 | €2,763 | +€1,961 | +244.8% |
| Recurring financial charges | 65 | €801 | €2,763 | +€1,961 | +244.8% |
| Profit (loss) for the period before taxes | 9903 | €29,490 | €35,505 | +€6,015 | +20.4% |
| Income taxes | 67/77 | €7,526 | €13,034 | +€5,508 | +73.2% |
| Profit (loss) for the period | 9904 | €21,964 | €22,471 | +€507 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,964 | €22,471 | +€507 | +2.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.