AREGO: 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.
AREGO
Largest movements
- Cash +€459,195
up €459,195 (+89.1%), from €515,218 to €974,413
mainly Net result for the year (+€993,500) and Other debts (+€788,341)
- Current investments -€394,404
down €394,404 (-52.0%), from €758,711 to €364,307
- Receivables within one year +€214,616
up €214,616 (+65.4%), from €327,955 to €542,571
of which Trade receivables: +€147,639
- Tangible fixed assets +€41,216
up €41,216 (+174%), from €23,687 to €64,903
of which Furniture and vehicles: +€40,475
- Other debts +€788,341
up €788,341 (+98.4%), from €801,005 to €1.6m
- Reserves -€596,561
down €596,561 (-100%), from €596,561 to €0
- Tax, wage and social debts +€117,594
up €117,594 (+88.7%), from €132,508 to €250,102
of which Remuneration and social security: +€93,678
- Gross operating margin +€172,279
up €172,279 (+8.7%), from €2.0m to €2.2m
- Depreciation -€61,625
down €61,625 (-87.4%), from €70,522 to €8,897
- Staff costs +€29,710
up €29,710 (+3.7%), from €809,709 to €839,420
- Financial charges +€26,470
up €26,470, from -€3,112 to €23,358
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 | €1,652,078 | €1,979,264 | +€327,186 | +19.8% |
| Fixed assets | 21/28 | €31,654 | €71,029 | +€39,375 | +124% |
| Intangible fixed assets | 21 | €7,967 | €6,126 | -€1,841 | -23.1% |
| Tangible fixed assets | 22/27 | €23,687 | €64,903 | +€41,216 | +174% |
| Plant, machinery and equipment | 23 | €17,589 | €18,330 | +€741 | +4.2% |
| Furniture and vehicles | 24 | €6,098 | €46,573 | +€40,475 | +664% |
| Current assets | 29/58 | €1,620,423 | €1,908,235 | +€287,811 | +17.8% |
| Amounts receivable within one year | 40/41 | €327,955 | €542,571 | +€214,616 | +65.4% |
| Trade receivables | 40 | €307,948 | €455,587 | +€147,639 | +47.9% |
| Other amounts receivable | 41 | €20,007 | €86,983 | +€66,977 | +335% |
| Current investments | 50/53 | €758,711 | €364,307 | -€394,404 | -52.0% |
| Cash at bank and in hand | 54/58 | €515,218 | €974,413 | +€459,195 | +89.1% |
| Deferred charges and accrued income | 490/1 | €18,540 | €26,944 | +€8,405 | +45.3% |
| Total equity and liabilities | 10/49 | €1,652,078 | €1,979,264 | +€327,186 | +19.8% |
| Equity | 10/15 | €656,561 | €60,000 | -€596,561 | -90.9% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €596,561 | €0 | -€596,561 | -100% |
| Distributable reserves | 133 | €596,561 | €0 | -€596,561 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €995,517 | €1,919,264 | +€923,746 | +92.8% |
| Amounts payable within one year | 42/48 | €995,517 | €1,919,264 | +€923,746 | +92.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €62,004 | €79,816 | +€17,812 | +28.7% |
| Suppliers | 440/4 | €62,004 | €79,816 | +€17,812 | +28.7% |
| Taxes, remuneration and social security | 45 | €132,508 | €250,102 | +€117,594 | +88.7% |
| Taxes | 450/3 | €2,250 | €26,166 | +€23,916 | +1,063% |
| Remuneration and social security | 454/9 | €130,258 | €223,936 | +€93,678 | +71.9% |
| Other amounts payable | 47/48 | €801,005 | €1,589,346 | +€788,341 | +98.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €809,709 | €839,420 | +€29,710 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,522 | €8,897 | -€61,625 | -87.4% |
| Other operating charges | 640/8 | €18,649 | €10,588 | -€8,060 | -43.2% |
| Gross operating margin | 9900 | €1,978,948 | €2,151,227 | +€172,279 | +8.7% |
| Operating profit (loss) | 9901 | €1,080,068 | €1,292,322 | +€212,253 | +19.7% |
| Financial income | 75/76B | €15,965 | €8,564 | -€7,401 | -46.4% |
| Recurring financial income | 75 | €15,965 | €8,564 | -€7,401 | -46.4% |
| Financial charges | 65/66B | -€3,112 | €23,358 | +€26,470 | |
| Recurring financial charges | 65 | -€3,112 | €23,358 | +€26,470 | |
| Profit (loss) for the period before taxes | 9903 | €1,099,146 | €1,277,528 | +€178,382 | +16.2% |
| Income taxes | 67/77 | €268,395 | €284,028 | +€15,633 | +5.8% |
| Profit (loss) for the period | 9904 | €830,751 | €993,500 | +€162,749 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €830,751 | €993,500 | +€162,749 | +19.6% |
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 14 October 2026 via checked.be.