ARAXESS: 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.
ARAXESS
Largest movements
- Tangible fixed assets -€23,953
down €23,953 (-4.1%), from €589,858 to €565,905
of which Land and buildings: -€17,642
- Cash -€11,360
down €11,360 (-96.8%), from €11,739 to €380
mainly Other debts (-€68,826) and Debts after one year (-€33,620)
- Other debts -€68,826
down €68,826 (-46.8%), from €147,158 to €78,331
- Reserves +€33,721
up €33,721 (+24.8%), from €135,940 to €169,661
of which Distributable reserves: +€35,425
- Debts after one year -€33,620
down €33,620 (-11.8%), from €286,056 to €252,436
- Tax, wage and social debts +€23,849
up €23,849 (+534%), from €4,463 to €28,312
- Trade debts +€6,779
up €6,779 (+93.0%), from €7,292 to €14,071
- Gross operating margin +€29,148
up €29,148 (+40.7%), from €71,605 to €100,752
- Taxes +€11,833
up €11,833 (+142%), from €8,311 to €20,145
- Depreciation +€6,591
up €6,591 (+28.1%), from €23,447 to €30,038
- Financial income -€1,473
down €1,473 (-97.9%), from €1,504 to €31
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.
Derived cash bridge
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 | €646,429 | €611,016 | -€35,413 | -5.5% |
| Fixed assets | 21/28 | €589,858 | €565,905 | -€23,953 | -4.1% |
| Tangible fixed assets | 22/27 | €589,858 | €565,905 | -€23,953 | -4.1% |
| Land and buildings | 22 | €578,101 | €560,459 | -€17,642 | -3.1% |
| Furniture and vehicles | 24 | €11,757 | €5,446 | -€6,311 | -53.7% |
| Current assets | 29/58 | €56,572 | €45,111 | -€11,460 | -20.3% |
| Amounts receivable within one year | 40/41 | €43,499 | €42,288 | -€1,211 | -2.8% |
| Trade receivables | 40 | €25,686 | €29,730 | +€4,044 | +15.7% |
| Other amounts receivable | 41 | €17,813 | €12,558 | -€5,255 | -29.5% |
| Cash at bank and in hand | 54/58 | €11,739 | €380 | -€11,360 | -96.8% |
| Deferred charges and accrued income | 490/1 | €1,333 | €2,443 | +€1,110 | +83.3% |
| Total equity and liabilities | 10/49 | €646,429 | €611,016 | -€35,413 | -5.5% |
| Equity | 10/15 | €152,501 | €186,222 | +€33,721 | +22.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €135,940 | €169,661 | +€33,721 | +24.8% |
| Tax-exempt reserves | 132 | €46,384 | €44,680 | -€1,704 | -3.7% |
| Distributable reserves | 133 | €89,557 | €124,981 | +€35,425 | +39.6% |
| Profit (loss) carried forward | 14 | €4,161 | €4,161 | = | 0.0% |
| Provisions and deferred taxes | 16 | €11,596 | €11,170 | -€426 | -3.7% |
| Deferred taxes | 168 | €11,596 | €11,170 | -€426 | -3.7% |
| Amounts payable | 17/49 | €482,332 | €413,624 | -€68,708 | -14.2% |
| Amounts payable after more than one year | 17 | €286,056 | €252,436 | -€33,620 | -11.8% |
| Financial debts | 170/4 | €286,056 | €252,436 | -€33,620 | -11.8% |
| Amounts payable within one year | 42/48 | €195,186 | €159,779 | -€35,407 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €34,536 | €36,168 | +€1,632 | +4.7% |
| Financial debts | 43 | €1,737 | €2,897 | +€1,159 | +66.7% |
| Credit institutions | 430/8 | €1,737 | €2,897 | +€1,159 | +66.7% |
| Trade debts | 44 | €7,292 | €14,071 | +€6,779 | +93.0% |
| Suppliers | 440/4 | €7,292 | €14,071 | +€6,779 | +93.0% |
| Taxes, remuneration and social security | 45 | €4,463 | €28,312 | +€23,849 | +534% |
| Taxes | 450/3 | €4,463 | €28,312 | +€23,849 | +534% |
| Other amounts payable | 47/48 | €147,158 | €78,331 | -€68,826 | -46.8% |
| Accrued charges and deferred income | 492/3 | €1,090 | €1,410 | +€319 | +29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,447 | €30,038 | +€6,591 | +28.1% |
| Other operating charges | 640/8 | €2,203 | €2,457 | +€254 | +11.5% |
| Non-recurring operating charges | 66A | €7,235 | - | -€7,235 | |
| Gross operating margin | 9900 | €71,605 | €100,752 | +€29,148 | +40.7% |
| Operating profit (loss) | 9901 | €38,719 | €68,257 | +€29,537 | +76.3% |
| Financial income | 75/76B | €1,504 | €31 | -€1,473 | -97.9% |
| Recurring financial income | 75 | €1,504 | €31 | -€1,473 | -97.9% |
| Financial charges | 65/66B | €15,061 | €14,848 | -€213 | -1.4% |
| Recurring financial charges | 65 | €15,061 | €14,848 | -€213 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €25,162 | €53,439 | +€28,277 | +112% |
| Transfer from deferred taxes | 780 | €426 | €426 | = | 0.0% |
| Income taxes | 67/77 | €8,311 | €20,145 | +€11,833 | +142% |
| Profit (loss) for the period | 9904 | €17,277 | €33,721 | +€16,444 | +95.2% |
| Transfer from tax-exempt reserves | 789 | €1,704 | €1,704 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,981 | €35,425 | +€16,444 | +86.6% |
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 29 October 2026 via checked.be.