ARAX: 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.
ARAX
Largest movements
- Receivables within one year +€31,286
new in 2025: €31,286
of which Trade receivables: +€16,735
- Intangible fixed assets -€2,000
down €2,000 (-25.0%), from €8,000 to €6,000
- Cash +€1,804
up €1,804 (+72.3%), from €2,495 to €4,299
mainly Net result for the year (+€17,728) and Tax, wage and social debts (+€8,227)
- Tangible fixed assets -€1,190
down €1,190 (-13.0%), from €9,158 to €7,968
of which Furniture and vehicles: -€1,190
- Profit (loss) carried forward +€17,728
up €17,728, from -€12,503 to €5,224
- Tax, wage and social debts +€8,227
up €8,227 (+92.3%), from €8,913 to €17,140
of which Taxes: +€7,013
- Trade debts +€3,934
up €3,934 (+80.8%), from €4,867 to €8,801
- Gross operating margin +€71,466
up €71,466 (+70.8%), from €100,877 to €172,343
- Staff costs +€61,916
up €61,916 (+72.0%), from €86,006 to €147,922
- Depreciation +€3,190
new in 2025: €3,190
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 | €32,147 | €62,035 | +€29,889 | +93.0% |
| Fixed assets | 21/28 | €17,158 | €13,968 | -€3,190 | -18.6% |
| Intangible fixed assets | 21 | €8,000 | €6,000 | -€2,000 | -25.0% |
| Tangible fixed assets | 22/27 | €9,158 | €7,968 | -€1,190 | -13.0% |
| Plant, machinery and equipment | 23 | €826 | €826 | = | 0.0% |
| Furniture and vehicles | 24 | €8,332 | €7,142 | -€1,190 | -14.3% |
| Current assets | 29/58 | €14,989 | €48,068 | +€33,079 | +220.7% |
| Stocks and contracts in progress | 3 | €12,495 | €12,483 | -€12 | -0.1% |
| Stocks | 30/36 | €12,495 | €12,483 | -€12 | -0.1% |
| Amounts receivable within one year | 40/41 | - | €31,286 | +€31,286 | |
| Trade receivables | 40 | - | €16,735 | +€16,735 | |
| Other amounts receivable | 41 | - | €14,551 | +€14,551 | |
| Cash at bank and in hand | 54/58 | €2,495 | €4,299 | +€1,804 | +72.3% |
| Total equity and liabilities | 10/49 | €32,147 | €62,035 | +€29,889 | +93.0% |
| Equity | 10/15 | €7,497 | €25,224 | +€17,728 | +236.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,503 | €5,224 | +€17,728 | |
| Amounts payable | 17/49 | €24,650 | €36,811 | +€12,161 | +49.3% |
| Amounts payable within one year | 42/48 | €24,650 | €36,811 | +€12,161 | +49.3% |
| Trade debts | 44 | €4,867 | €8,801 | +€3,934 | +80.8% |
| Suppliers | 440/4 | €4,867 | €8,801 | +€3,934 | +80.8% |
| Taxes, remuneration and social security | 45 | €8,913 | €17,140 | +€8,227 | +92.3% |
| Taxes | 450/3 | €8,913 | €15,927 | +€7,013 | +78.7% |
| Remuneration and social security | 454/9 | - | €1,213 | +€1,213 | |
| Other amounts payable | 47/48 | €10,870 | €10,870 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €86,006 | €147,922 | +€61,916 | +72.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,190 | +€3,190 | |
| Other operating charges | 640/8 | €2,024 | €3,411 | +€1,387 | +68.5% |
| Gross operating margin | 9900 | €100,877 | €172,343 | +€71,466 | +70.8% |
| Operating profit (loss) | 9901 | €12,846 | €17,819 | +€4,973 | +38.7% |
| Financial charges | 65/66B | €254 | €91 | -€162 | -64.0% |
| Recurring financial charges | 65 | €254 | €91 | -€162 | -64.0% |
| Profit (loss) for the period before taxes | 9903 | €12,593 | €17,728 | +€5,135 | +40.8% |
| Profit (loss) for the period | 9904 | €12,593 | €17,728 | +€5,135 | +40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,593 | €17,728 | +€5,135 | +40.8% |
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 6 October 2026 via checked.be.