Aratio: 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.
Aratio
Largest movements
- Cash -€1.7m
down €1.7m (-72.7%), from €2.4m to €644,707
mainly Contributions, distributions and other (-€1.6m) and Other debts (-€450,224)
- Receivables within one year -€459,402
down €459,402 (-54.2%), from €847,394 to €387,992
- Current investments +€201,685
up €201,685 (+13.1%), from €1.5m to €1.7m
- Reserves -€1.6m
down €1.6m (-38.3%), from €4.1m to €2.5m
- Other debts -€450,224
down €450,224 (-53.5%), from €841,576 to €391,352
- Financial income -€1.9m
down €1.9m (-95.0%), from €2.0m to €101,155
- Taxes -€176,216
down €176,216 (-90.4%), from €194,914 to €18,698
- Financial charges -€22,348
down €22,348 (-49.1%), from €45,471 to €23,123
- Gross operating margin -€2,345
down €2,345 (-9.9%), from -€23,750 to -€26,095
- Other operating charges +€2,117
up €2,117 (+27.5%), from €7,709 to €9,827
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 | €18,667,954 | €16,653,252 | -€2.0m | -10.8% |
| Fixed assets | 21/28 | €13,875,822 | €13,875,822 | = | 0.0% |
| Financial fixed assets | 28 | €13,875,822 | €13,875,822 | = | 0.0% |
| Current assets | 29/58 | €4,792,132 | €2,777,429 | -€2.0m | -42.0% |
| Amounts receivable within one year | 40/41 | €847,394 | €387,992 | -€459,402 | -54.2% |
| Other amounts receivable | 41 | €847,394 | €387,992 | -€459,402 | -54.2% |
| Current investments | 50/53 | €1,543,046 | €1,744,731 | +€201,685 | +13.1% |
| Cash at bank and in hand | 54/58 | €2,358,844 | €644,707 | -€1.7m | -72.7% |
| Deferred charges and accrued income | 490/1 | €42,848 | €0 | -€42,848 | -100.0% |
| Total equity and liabilities | 10/49 | €18,667,954 | €16,653,252 | -€2.0m | -10.8% |
| Equity | 10/15 | €17,826,378 | €16,257,195 | -€1.6m | -8.8% |
| Contributions | 10/11 | €13,731,957 | €13,731,957 | = | 0.0% |
| Reserves | 13 | €4,094,421 | €2,525,238 | -€1.6m | -38.3% |
| Distributable reserves | 133 | €4,094,421 | €2,525,238 | -€1.6m | -38.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €841,576 | €396,056 | -€445,519 | -52.9% |
| Amounts payable within one year | 42/48 | €841,576 | €396,056 | -€445,519 | -52.9% |
| Trade debts | 44 | €0 | €451 | +€451 | |
| Suppliers | 440/4 | €0 | €451 | +€451 | |
| Taxes, remuneration and social security | 45 | - | €4,254 | +€4,254 | |
| Taxes | 450/3 | - | €4,254 | +€4,254 | |
| Other amounts payable | 47/48 | €841,576 | €391,352 | -€450,224 | -53.5% |
| Other operating charges | 640/8 | €7,709 | €9,827 | +€2,117 | +27.5% |
| Gross operating margin | 9900 | -€23,750 | -€26,095 | -€2,345 | -9.9% |
| Operating profit (loss) | 9901 | -€31,460 | -€35,922 | -€4,462 | -14.2% |
| Financial income | 75/76B | €2,019,240 | €101,155 | -€1.9m | -95.0% |
| Recurring financial income | 75 | €2,019,240 | €101,155 | -€1.9m | -95.0% |
| Financial charges | 65/66B | €45,471 | €23,123 | -€22,348 | -49.1% |
| Recurring financial charges | 65 | €45,471 | €23,123 | -€22,348 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €1,942,310 | €42,110 | -€1.9m | -97.8% |
| Income taxes | 67/77 | €194,914 | €18,698 | -€176,216 | -90.4% |
| Profit (loss) for the period | 9904 | €1,747,396 | €23,412 | -€1.7m | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,747,396 | €23,412 | -€1.7m | -98.7% |
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 12 October 2026 via checked.be.