ARE³ Development: 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.
ARE³ Development
Largest movements
- Cash -€1.7m
down €1.7m (-69.1%), from €2.5m to €769,057
mainly Net result for the year (-€1.9m) and Debts after one year (-€1.3m)
- Stocks and contracts +€1.2m
up €1.2m (+122.7%), from €996,476 to €2.2m
- Receivables within one year +€587,708
up €587,708 (+86.3%), from €681,285 to €1.3m
of which Trade receivables: +€587,663
- Contributions +€3.7m
up €3.7m (+293.2%), from €1.3m to €4.9m
- Profit (loss) carried forward -€1.9m
down €1.9m (-101.6%), from -€1.9m to -€3.8m
- Debts after one year -€1.3m
down €1.3m (-51.4%), from €2.5m to €1.2m
of which Other amounts payable: -€1.2m
- Tax, wage and social debts -€410,807
down €410,807 (-98.1%), from €418,556 to €7,749
- Goods and materials +€4.8m
up €4.8m (+160.9%), from €3.0m to €7.8m
of which Purchases: +€5.7m
- Turnover +€2.3m
up €2.3m (+56.5%), from €4.0m to €6.3m
- Services and other goods -€431,824
down €431,824 (-58.3%), from €740,847 to €309,023
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 | €5,056,502 | €5,103,169 | +€46,667 | +0.9% |
| Fixed assets | 21/28 | €868,590 | €822,598 | -€45,992 | -5.3% |
| Tangible fixed assets | 22/27 | €867,190 | €821,198 | -€45,992 | -5.3% |
| Plant, machinery and equipment | 23 | €213 | €106 | -€107 | -50.3% |
| Other tangible fixed assets | 26 | €866,977 | €821,092 | -€45,885 | -5.3% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,400 | €1,400 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €4,187,912 | €4,280,571 | +€92,659 | +2.2% |
| Stocks and contracts in progress | 3 | €996,476 | €2,219,155 | +€1.2m | +122.7% |
| Stocks | 30/36 | €996,476 | €2,219,155 | +€1.2m | +122.7% |
| Property held for sale | 35 | €996,476 | €2,219,155 | +€1.2m | +122.7% |
| Amounts receivable within one year | 40/41 | €681,285 | €1,268,993 | +€587,708 | +86.3% |
| Trade receivables | 40 | €681,285 | €1,268,948 | +€587,663 | +86.3% |
| Other amounts receivable | 41 | - | €45 | +€45 | |
| Cash at bank and in hand | 54/58 | €2,487,320 | €769,057 | -€1.7m | -69.1% |
| Deferred charges and accrued income | 490/1 | €22,831 | €23,366 | +€536 | +2.3% |
| Total equity and liabilities | 10/49 | €5,056,502 | €5,103,169 | +€46,667 | +0.9% |
| Equity | 10/15 | -€656,728 | €1,070,820 | +€1.7m | |
| Contributions | 10/11 | €1,250,000 | €4,915,000 | +€3.7m | +293.2% |
| Capital | 10 | €1,250,000 | €4,915,000 | +€3.7m | +293.2% |
| Issued capital | 100 | €5,000,000 | €5,000,000 | = | 0.0% |
| Uncalled capital | 101 | €3,750,000 | €85,000 | -€3.7m | -97.7% |
| Profit (loss) carried forward | 14 | -€1,906,728 | -€3,844,180 | -€1.9m | -101.6% |
| Amounts payable | 17/49 | €5,713,230 | €4,032,350 | -€1.7m | -29.4% |
| Amounts payable after more than one year | 17 | €2,511,384 | €1,220,035 | -€1.3m | -51.4% |
| Financial debts | 170/4 | €224,356 | €121,432 | -€102,925 | -45.9% |
| Credit institutions | 173 | €224,356 | €121,432 | -€102,925 | -45.9% |
| Other amounts payable | 178/9 | €2,287,028 | €1,098,603 | -€1.2m | -52.0% |
| Amounts payable within one year | 42/48 | €3,201,845 | €2,812,314 | -€389,531 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €102,162 | €102,925 | +€762 | +0.7% |
| Trade debts | 44 | €2,681,127 | €2,701,641 | +€20,513 | +0.8% |
| Suppliers | 440/4 | €2,681,127 | €2,701,641 | +€20,513 | +0.8% |
| Taxes, remuneration and social security | 45 | €418,556 | €7,749 | -€410,807 | -98.1% |
| Taxes | 450/3 | €418,556 | €7,749 | -€410,807 | -98.1% |
| Operating income | 70/76A | €4,099,979 | €6,340,214 | +€2.2m | +54.6% |
| Turnover | 70 | €3,995,523 | €6,251,342 | +€2.3m | +56.5% |
| Other operating income | 74 | €104,456 | €88,872 | -€15,583 | -14.9% |
| Operating charges | 60/66A | €3,765,428 | €8,121,334 | +€4.4m | +115.7% |
| Goods for resale, raw materials and consumables | 60 | €2,976,532 | €7,765,817 | +€4.8m | +160.9% |
| Purchases | 600/8 | €3,274,411 | €8,988,496 | +€5.7m | +174.5% |
| Change in stocks: decrease (increase) | 609 | -€297,879 | -€1,222,679 | -€924,800 | -310.5% |
| Services and other goods | 61 | €740,847 | €309,023 | -€431,824 | -58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,603 | €45,992 | -€611 | -1.3% |
| Other operating charges | 640/8 | €1,446 | €503 | -€943 | -65.2% |
| Operating profit (loss) | 9901 | €334,551 | -€1,781,120 | -€2.1m | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Other financial income | 752/9 | €1 | - | -€1 | |
| Financial charges | 65/66B | €134,367 | €156,333 | +€21,965 | +16.3% |
| Recurring financial charges | 65 | €134,367 | €156,333 | +€21,965 | +16.3% |
| Debt charges | 650 | - | €115,596 | +€115,596 | |
| Other financial charges | 652/9 | €134,367 | €40,736 | -€93,631 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | €200,185 | -€1,937,453 | -€2.1m | |
| Profit (loss) for the period | 9904 | €200,185 | -€1,937,453 | -€2.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €200,185 | -€1,937,453 | -€2.1m |
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 9 October 2026 via checked.be.