Aray Group: 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.
Aray Group
Largest movements
- Receivables within one year +€40,836
up €40,836 (+42.8%), from €95,444 to €136,280
of which Other amounts receivable: +€38,398
- Cash +€16,582
up €16,582 (+265,736%), from €6 to €16,588
mainly Trade debts (+€24,866) and Net result for the year (+€18,111)
- Deferred charges and accrued income +€11,415
new in 2025: €11,415
- Tangible fixed assets -€7,265
down €7,265 (-22.2%), from €32,659 to €25,393
of which Furniture and vehicles: -€7,567
- Trade debts +€24,866
up €24,866 (+429%), from €5,800 to €30,666
- Reserves +€18,111
up €18,111 (+18.7%), from €96,873 to €114,984
- Debts after one year +€9,306
new in 2025: €9,306
- Current portion of long-term debt +€6,547
new in 2025: €6,547
- Tax, wage and social debts +€2,738
up €2,738 (+9.0%), from €30,486 to €33,224
of which Taxes: +€2,763
- Gross operating margin -€102,553
down €102,553 (-76.3%), from €134,429 to €31,876
- Taxes -€21,301
down €21,301 (-78.9%), from €27,002 to €5,701
- Financial income +€6,222
up €6,222 (+14,309%), from €43 to €6,265
- Staff costs -€3,757
down €3,757 (-95.2%), from €3,947 to €190
- Financial charges +€3,282
up €3,282 (+1,290%), from €254 to €3,536
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 | €134,159 | €195,727 | +€61,568 | +45.9% |
| Fixed assets | 21/28 | €38,709 | €31,443 | -€7,265 | -18.8% |
| Tangible fixed assets | 22/27 | €32,659 | €25,393 | -€7,265 | -22.2% |
| Plant, machinery and equipment | 23 | €2,067 | €2,368 | +€302 | +14.6% |
| Furniture and vehicles | 24 | €30,592 | €23,025 | -€7,567 | -24.7% |
| Financial fixed assets | 28 | €6,050 | €6,050 | = | 0.0% |
| Current assets | 29/58 | €95,450 | €164,283 | +€68,833 | +72.1% |
| Amounts receivable within one year | 40/41 | €95,444 | €136,280 | +€40,836 | +42.8% |
| Trade receivables | 40 | - | €2,438 | +€2,438 | |
| Other amounts receivable | 41 | €95,444 | €133,842 | +€38,398 | +40.2% |
| Cash at bank and in hand | 54/58 | €6 | €16,588 | +€16,582 | +265,736% |
| Deferred charges and accrued income | 490/1 | - | €11,415 | +€11,415 | |
| Total equity and liabilities | 10/49 | €134,159 | €195,727 | +€61,568 | +45.9% |
| Equity | 10/15 | €97,873 | €115,984 | +€18,111 | +18.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €96,873 | €114,984 | +€18,111 | +18.7% |
| Distributable reserves | 133 | €96,873 | €114,984 | +€18,111 | +18.7% |
| Amounts payable | 17/49 | €36,286 | €79,743 | +€43,457 | +120% |
| Amounts payable after more than one year | 17 | - | €9,306 | +€9,306 | |
| Financial debts | 170/4 | - | €9,306 | +€9,306 | |
| Amounts payable within one year | 42/48 | €36,286 | €70,437 | +€34,150 | +94.1% |
| Current portion of amounts payable after more than one year | 42 | - | €6,547 | +€6,547 | |
| Trade debts | 44 | €5,800 | €30,666 | +€24,866 | +429% |
| Suppliers | 440/4 | €5,800 | €30,666 | +€24,866 | +429% |
| Taxes, remuneration and social security | 45 | €30,486 | €33,224 | +€2,738 | +9.0% |
| Taxes | 450/3 | €27,887 | €30,650 | +€2,763 | +9.9% |
| Remuneration and social security | 454/9 | €2,599 | €2,574 | -€25 | -1.0% |
| Remuneration, social security and pensions | 62 | €3,947 | €190 | -€3,757 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,465 | €8,653 | +€3,188 | +58.3% |
| Other operating charges | 640/8 | €931 | €1,949 | +€1,018 | +109% |
| Gross operating margin | 9900 | €134,429 | €31,876 | -€102,553 | -76.3% |
| Operating profit (loss) | 9901 | €124,086 | €21,083 | -€103,002 | -83.0% |
| Financial income | 75/76B | €43 | €6,265 | +€6,222 | +14,309% |
| Recurring financial income | 75 | €43 | €6,265 | +€6,222 | +14,309% |
| Financial charges | 65/66B | €254 | €3,536 | +€3,282 | +1,290% |
| Recurring financial charges | 65 | €254 | €3,536 | +€3,282 | +1,290% |
| Profit (loss) for the period before taxes | 9903 | €123,875 | €23,813 | -€100,062 | -80.8% |
| Income taxes | 67/77 | €27,002 | €5,701 | -€21,301 | -78.9% |
| Profit (loss) for the period | 9904 | €96,873 | €18,111 | -€78,761 | -81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €96,873 | €18,111 | -€78,761 | -81.3% |
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 17 October 2026 via checked.be.