ARAUGI: 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.
ARAUGI
Largest movements
- Stocks and contracts -€17,261
down €17,261 (-38.3%), from €45,119 to €27,858
- Receivables within one year -€6,508
down €6,508 (-10.2%), from €63,883 to €57,375
of which Trade receivables: -€12,054
- Intangible fixed assets +€4,082
new in 2025: €4,082
- Cash -€3,938
down €3,938 (-2.4%), from €161,595 to €157,657
mainly Net result for the year (-€104,103) and Debts after one year (-€24,440)
- Profit (loss) carried forward -€104,103
down €104,103 (-124.4%), from -€83,709 to -€187,811
- Trade debts +€75,567
up €75,567 (+42.8%), from €176,672 to €252,239
- Debts after one year -€24,440
no longer reported in 2025 (was €24,440)
- Tax, wage and social debts +€16,803
up €16,803 (+16.1%), from €104,565 to €121,368
of which Remuneration and social security: +€15,903
- Accrued charges and deferred income +€12,758
new in 2025: €12,758
- Gross operating margin -€70,883
down €70,883 (-8.6%), from €819,891 to €749,008
- Staff costs +€41,594
up €41,594 (+5.3%), from €791,502 to €833,096
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 | €283,947 | €260,980 | -€22,967 | -8.1% |
| Fixed assets | 21/28 | €5,359 | €8,738 | +€3,379 | +63.0% |
| Intangible fixed assets | 21 | - | €4,082 | +€4,082 | |
| Tangible fixed assets | 22/27 | €5,359 | €4,656 | -€704 | -13.1% |
| Plant, machinery and equipment | 23 | €5,359 | €4,656 | -€704 | -13.1% |
| Current assets | 29/58 | €278,588 | €252,243 | -€26,346 | -9.5% |
| Stocks and contracts in progress | 3 | €45,119 | €27,858 | -€17,261 | -38.3% |
| Stocks | 30/36 | €45,119 | €27,858 | -€17,261 | -38.3% |
| Amounts receivable within one year | 40/41 | €63,883 | €57,375 | -€6,508 | -10.2% |
| Trade receivables | 40 | €52,659 | €40,605 | -€12,054 | -22.9% |
| Other amounts receivable | 41 | €11,224 | €16,770 | +€5,546 | +49.4% |
| Cash at bank and in hand | 54/58 | €161,595 | €157,657 | -€3,938 | -2.4% |
| Deferred charges and accrued income | 490/1 | €7,991 | €9,352 | +€1,362 | +17.0% |
| Total equity and liabilities | 10/49 | €283,947 | €260,980 | -€22,967 | -8.1% |
| Equity | 10/15 | -€81,709 | -€185,811 | -€104,103 | -127.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,709 | -€187,811 | -€104,103 | -124.4% |
| Amounts payable | 17/49 | €365,656 | €446,792 | +€81,136 | +22.2% |
| Amounts payable after more than one year | 17 | €24,440 | - | -€24,440 | |
| Other amounts payable | 178/9 | €24,440 | - | -€24,440 | |
| Amounts payable within one year | 42/48 | €341,216 | €434,034 | +€92,818 | +27.2% |
| Trade debts | 44 | €176,672 | €252,239 | +€75,567 | +42.8% |
| Suppliers | 440/4 | €176,672 | €252,239 | +€75,567 | +42.8% |
| Taxes, remuneration and social security | 45 | €104,565 | €121,368 | +€16,803 | +16.1% |
| Taxes | 450/3 | €4,782 | €5,682 | +€900 | +18.8% |
| Remuneration and social security | 454/9 | €99,783 | €115,686 | +€15,903 | +15.9% |
| Other amounts payable | 47/48 | €59,979 | €60,427 | +€448 | +0.7% |
| Accrued charges and deferred income | 492/3 | - | €12,758 | +€12,758 | |
| Remuneration, social security and pensions | 62 | €791,502 | €833,096 | +€41,594 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,323 | €1,621 | +€299 | +22.6% |
| Other operating charges | 640/8 | €17,120 | €12,589 | -€4,531 | -26.5% |
| Gross operating margin | 9900 | €819,891 | €749,008 | -€70,883 | -8.6% |
| Operating profit (loss) | 9901 | €9,947 | -€98,298 | -€108,245 | |
| Financial income | 75/76B | €4 | €42 | +€38 | +951.8% |
| Recurring financial income | 75 | €4 | €42 | +€38 | +951.8% |
| Financial charges | 65/66B | €12,737 | €5,846 | -€6,891 | -54.1% |
| Recurring financial charges | 65 | €12,737 | €5,846 | -€6,891 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,786 | -€104,103 | -€101,317 | -3636.6% |
| Profit (loss) for the period | 9904 | -€2,786 | -€104,103 | -€101,317 | -3636.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,786 | -€104,103 | -€101,317 | -3636.6% |
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 8 October 2026 via checked.be.