AREL: what changed
Two fiscal 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.
AREL
Largest movements
- Tangible fixed assets +€701,372
new in 2024: €701,372
- Cash +€154,470
up €154,470 (+67.3%), from €229,612 to €384,082
mainly Debts after one year (+€345,293) and Net result for the year (+€324,159)
- Debts after one year +€345,293
up €345,293 (+29.2%), from €1.2m to €1.5m
of which Financial debts: +€525,293
- Profit (loss) carried forward +€324,159
up €324,159 (+76.0%), from €426,603 to €750,762
- Current portion of long-term debt +€191,000
up €191,000 (+253.7%), from €75,291 to €266,291
- Financial income +€80,655
up €80,655 (+32.3%), from €250,000 to €330,655
- Gross operating margin +€6,642
up €6,642, from -€3,629 to €3,013
- Financial charges +€2,018
up €2,018 (+54.7%), from €3,690 to €5,708
- Other operating charges +€1,949
up €1,949 (+886.0%), from €220 to €2,169
- Depreciation +€1,633
new in 2024: €1,633
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,699,445 | €2,559,897 | +€860,451 | +50.6% |
| Fixed assets | 21/28 | €1,460,625 | €2,169,647 | +€709,022 | +48.5% |
| Tangible fixed assets | 22/27 | - | €701,372 | +€701,372 | |
| Land and buildings | 22 | - | €701,372 | +€701,372 | |
| Financial fixed assets | 28 | €1,460,625 | €1,468,275 | +€7,650 | +0.5% |
| Current assets | 29/58 | €238,820 | €390,249 | +€151,429 | +63.4% |
| Cash at bank and in hand | 54/58 | €229,612 | €384,082 | +€154,470 | +67.3% |
| Deferred charges and accrued income | 490/1 | €9,209 | €6,167 | -€3,041 | -33.0% |
| Total equity and liabilities | 10/49 | €1,699,445 | €2,559,897 | +€860,451 | +50.6% |
| Equity | 10/15 | €436,603 | €760,762 | +€324,159 | +74.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €426,603 | €750,762 | +€324,159 | +76.0% |
| Amounts payable | 17/49 | €1,262,842 | €1,799,135 | +€536,293 | +42.5% |
| Amounts payable after more than one year | 17 | €1,184,287 | €1,529,580 | +€345,293 | +29.2% |
| Financial debts | 170/4 | €1,004,287 | €1,529,580 | +€525,293 | +52.3% |
| Other amounts payable | 178/9 | €180,000 | - | -€180,000 | |
| Amounts payable within one year | 42/48 | €77,791 | €268,791 | +€191,000 | +245.5% |
| Current portion of amounts payable after more than one year | 42 | €75,291 | €266,291 | +€191,000 | +253.7% |
| Other amounts payable | 47/48 | €2,500 | €2,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €764 | €764 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,633 | +€1,633 | |
| Other operating charges | 640/8 | €220 | €2,169 | +€1,949 | +886.0% |
| Gross operating margin | 9900 | -€3,629 | €3,013 | +€6,642 | |
| Operating profit (loss) | 9901 | -€3,849 | -€789 | +€3,060 | +79.5% |
| Financial income | 75/76B | €250,000 | €330,655 | +€80,655 | +32.3% |
| Recurring financial income | 75 | €250,000 | €330,655 | +€80,655 | +32.3% |
| Financial charges | 65/66B | €3,690 | €5,708 | +€2,018 | +54.7% |
| Recurring financial charges | 65 | €3,690 | €5,708 | +€2,018 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | €242,461 | €324,159 | +€81,698 | +33.7% |
| Profit (loss) for the period | 9904 | €242,461 | €324,159 | +€81,698 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €242,461 | €324,159 | +€81,698 | +33.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.