AREAL: 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.
AREAL
Largest movements
- Stocks and contracts +€546,018
new in 2025: €546,018
- Intangible fixed assets +€425,175
up €425,175 (+60.3%), from €705,036 to €1.1m
- Receivables within one year +€35,143
up €35,143 (+121.9%), from €28,829 to €63,972
of which Other amounts receivable: +€36,891
- Debts after one year +€2.1m
up €2.1m (+80.2%), from €2.7m to €4.8m
- Profit (loss) carried forward -€1.5m
down €1.5m (-106.9%), from -€1.4m to -€2.8m
- Trade debts +€316,643
up €316,643 (+571.0%), from €55,452 to €372,095
- Financial charges +€262,137
up €262,137 (+138.2%), from €189,672 to €451,809
- Gross operating margin -€221,968
down €221,968 (-56.2%), from -€394,750 to -€616,718
- Staff costs +€109,703
up €109,703 (+465.4%), from €23,573 to €133,275
- Depreciation +€82,549
up €82,549 (+41.9%), from €197,205 to €279,754
- Taxes -€23,752
down €23,752, from €53 to -€23,698
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 | €1,392,770 | €2,408,650 | +€1.0m | +72.9% |
| Fixed assets | 21/28 | €706,352 | €1,140,004 | +€433,653 | +61.4% |
| Intangible fixed assets | 21 | €705,036 | €1,130,211 | +€425,175 | +60.3% |
| Tangible fixed assets | 22/27 | €1,316 | €9,793 | +€8,477 | +644.2% |
| Plant, machinery and equipment | 23 | €1,316 | €9,793 | +€8,477 | +644.2% |
| Current assets | 29/58 | €686,418 | €1,268,645 | +€582,227 | +84.8% |
| Stocks and contracts in progress | 3 | - | €546,018 | +€546,018 | |
| Stocks | 30/36 | - | €546,018 | +€546,018 | |
| Amounts receivable within one year | 40/41 | €28,829 | €63,972 | +€35,143 | +121.9% |
| Trade receivables | 40 | €1,747 | €0 | -€1,747 | -100.0% |
| Other amounts receivable | 41 | €27,081 | €63,972 | +€36,891 | +136.2% |
| Cash at bank and in hand | 54/58 | €632,998 | €652,620 | +€19,622 | +3.1% |
| Deferred charges and accrued income | 490/1 | €24,592 | €6,035 | -€18,557 | -75.5% |
| Total equity and liabilities | 10/49 | €1,392,770 | €2,408,650 | +€1.0m | +72.9% |
| Equity | 10/15 | -€1,354,276 | -€2,805,411 | -€1.5m | -107.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,357,276 | -€2,808,411 | -€1.5m | -106.9% |
| Amounts payable | 17/49 | €2,747,046 | €5,214,060 | +€2.5m | +89.8% |
| Amounts payable after more than one year | 17 | €2,677,426 | €4,824,420 | +€2.1m | +80.2% |
| Financial debts | 170/4 | €2,677,426 | €4,824,420 | +€2.1m | +80.2% |
| Amounts payable within one year | 42/48 | €61,127 | €389,640 | +€328,513 | +537.4% |
| Trade debts | 44 | €55,452 | €372,095 | +€316,643 | +571.0% |
| Suppliers | 440/4 | €55,452 | €372,095 | +€316,643 | +571.0% |
| Taxes, remuneration and social security | 45 | €5,675 | €17,545 | +€11,870 | +209.2% |
| Taxes | 450/3 | €2,955 | €1,192 | -€1,763 | -59.7% |
| Remuneration and social security | 454/9 | €2,721 | €16,353 | +€13,633 | +501.1% |
| Accrued charges and deferred income | 492/3 | €8,493 | €0 | -€8,493 | -100.0% |
| Remuneration, social security and pensions | 62 | €23,573 | €133,275 | +€109,703 | +465.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €197,205 | €279,754 | +€82,549 | +41.9% |
| Other operating charges | 640/8 | €505 | €903 | +€397 | +78.6% |
| Gross operating margin | 9900 | -€394,750 | -€616,718 | -€221,968 | -56.2% |
| Operating profit (loss) | 9901 | -€616,033 | -€1,030,649 | -€414,616 | -67.3% |
| Financial income | 75/76B | €19 | €7,625 | +€7,605 | +39101.7% |
| Recurring financial income | 75 | €19 | €7,625 | +€7,605 | +39101.7% |
| Financial charges | 65/66B | €189,672 | €451,809 | +€262,137 | +138.2% |
| Recurring financial charges | 65 | €189,672 | €451,809 | +€262,137 | +138.2% |
| Profit (loss) for the period before taxes | 9903 | -€805,685 | -€1,474,833 | -€669,148 | -83.1% |
| Income taxes | 67/77 | €53 | -€23,698 | -€23,752 | |
| Profit (loss) for the period | 9904 | -€805,739 | -€1,451,135 | -€645,396 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€805,739 | -€1,451,135 | -€645,396 | -80.1% |
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 10 October 2026 via checked.be.