AREBO: 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.
AREBO
Largest movements
- Cash -€47,692
down €47,692 (-55.1%), from €86,511 to €38,819
mainly Trade debts (-€65,127) and Tax, wage and social debts (-€53,259)
- Stocks and contracts +€15,000
new in 2025: €15,000
- Tangible fixed assets +€11,677
up €11,677 (+12.5%), from €93,648 to €105,325
of which Furniture and vehicles: +€21,596
- Receivables within one year -€5,009
down €5,009 (-5.0%), from €99,980 to €94,971
of which Trade receivables: -€40,382
- Intangible fixed assets +€2,837
new in 2025: €2,837
- Trade debts -€65,127
down €65,127 (-71.9%), from €90,637 to €25,510
- Short-term financial debts +€60,000
new in 2025: €60,000
- Tax, wage and social debts -€53,259
down €53,259 (-77.2%), from €69,012 to €15,753
of which Taxes: -€48,428
- Reserves +€42,138
new in 2025: €42,138
- Profit (loss) carried forward +€18,951
up €18,951, from -€18,951 to €0
- Gross operating margin +€118,676
up €118,676 (+106%), from €112,057 to €230,733
- Staff costs +€60,975
up €60,975 (+135%), from €45,245 to €106,220
- Depreciation -€26,242
down €26,242 (-41.1%), from €63,775 to €37,533
- Write-downs -€14,923
down €14,923 (-100%), from €14,923 to €0
- Taxes +€14,916
up €14,916 (+450%), from €3,311 to €18,227
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 | €280,964 | €257,726 | -€23,238 | -8.3% |
| Fixed assets | 21/28 | €93,648 | €108,162 | +€14,514 | +15.5% |
| Intangible fixed assets | 21 | - | €2,837 | +€2,837 | |
| Tangible fixed assets | 22/27 | €93,648 | €105,325 | +€11,677 | +12.5% |
| Plant, machinery and equipment | 23 | €24,451 | €14,533 | -€9,918 | -40.6% |
| Furniture and vehicles | 24 | €69,197 | €90,793 | +€21,596 | +31.2% |
| Current assets | 29/58 | €187,316 | €149,564 | -€37,752 | -20.2% |
| Stocks and contracts in progress | 3 | - | €15,000 | +€15,000 | |
| Stocks | 30/36 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €99,980 | €94,971 | -€5,009 | -5.0% |
| Trade receivables | 40 | €68,458 | €28,076 | -€40,382 | -59.0% |
| Other amounts receivable | 41 | €31,522 | €66,894 | +€35,372 | +112% |
| Cash at bank and in hand | 54/58 | €86,511 | €38,819 | -€47,692 | -55.1% |
| Deferred charges and accrued income | 490/1 | €825 | €774 | -€51 | -6.2% |
| Total equity and liabilities | 10/49 | €280,964 | €257,726 | -€23,238 | -8.3% |
| Equity | 10/15 | -€17,951 | €43,138 | +€61,089 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €42,138 | +€42,138 | |
| Distributable reserves | 133 | - | €42,138 | +€42,138 | |
| Profit (loss) carried forward | 14 | -€18,951 | €0 | +€18,951 | |
| Amounts payable | 17/49 | €298,915 | €214,588 | -€84,327 | -28.2% |
| Amounts payable after more than one year | 17 | €62,465 | €46,903 | -€15,562 | -24.9% |
| Financial debts | 170/4 | €62,465 | €46,903 | -€15,562 | -24.9% |
| Amounts payable within one year | 42/48 | €236,450 | €167,685 | -€68,765 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €15,071 | €15,562 | +€491 | +3.3% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €90,637 | €25,510 | -€65,127 | -71.9% |
| Suppliers | 440/4 | €90,637 | €25,510 | -€65,127 | -71.9% |
| Taxes, remuneration and social security | 45 | €69,012 | €15,753 | -€53,259 | -77.2% |
| Taxes | 450/3 | €58,457 | €10,030 | -€48,428 | -82.8% |
| Remuneration and social security | 454/9 | €10,555 | €5,724 | -€4,831 | -45.8% |
| Other amounts payable | 47/48 | €61,730 | €50,859 | -€10,871 | -17.6% |
| Non-recurring operating income | 76A | €16,664 | €44,700 | +€28,036 | +168% |
| Remuneration, social security and pensions | 62 | €45,245 | €106,220 | +€60,975 | +135% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,775 | €37,533 | -€26,242 | -41.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,923 | €0 | -€14,923 | -100% |
| Other operating charges | 640/8 | €3,523 | €2,770 | -€753 | -21.4% |
| Gross operating margin | 9900 | €112,057 | €230,733 | +€118,676 | +106% |
| Operating profit (loss) | 9901 | -€15,409 | €84,209 | +€99,618 | |
| Financial income | 75/76B | €2,259 | €224 | -€2,035 | -90.1% |
| Recurring financial income | 75 | €2,259 | €224 | -€2,035 | -90.1% |
| Financial charges | 65/66B | €2,490 | €5,117 | +€2,627 | +106% |
| Recurring financial charges | 65 | €2,490 | €5,117 | +€2,627 | +106% |
| Profit (loss) for the period before taxes | 9903 | -€15,640 | €79,316 | +€94,956 | |
| Income taxes | 67/77 | €3,311 | €18,227 | +€14,916 | +450% |
| Profit (loss) for the period | 9904 | -€18,951 | €61,090 | +€80,041 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,951 | €61,090 | +€80,041 |
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 13 October 2026 via checked.be.