AREL MAITRANK: 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.
AREL MAITRANK
Largest movements
- Cash -€40,820
down €40,820 (-64.8%), from €63,001 to €22,181
mainly Stocks and contracts (-€39,952) and Receivables within one year (-€39,794)
- Stocks and contracts +€39,952
up €39,952 (+121%), from €33,088 to €73,040
- Receivables within one year +€39,794
up €39,794 (+18.6%), from €214,215 to €254,009
of which Trade receivables: +€21,259
- Tangible fixed assets -€23,832
down €23,832 (-5.0%), from €476,884 to €453,052
of which Land and buildings: -€21,176
- Intangible fixed assets +€9,896
new in 2025: €9,896
- Debts after one year -€35,397
down €35,397 (-14.1%), from €251,756 to €216,359
- Reserves +€30,107
up €30,107 (+19.6%), from €153,666 to €183,773
of which Distributable reserves: +€30,107
- Trade debts +€18,100
up €18,100 (+26.4%), from €68,552 to €86,652
- Tax, wage and social debts +€12,477
up €12,477 (+39.8%), from €31,372 to €43,849
- Gross operating margin +€25,689
up €25,689 (+30.0%), from €85,646 to €111,335
- Taxes +€8,852
up €8,852 (+159%), from €5,580 to €14,432
- Depreciation -€1,141
down €1,141 (-4.6%), from €25,077 to €23,936
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 | €787,522 | €812,512 | +€24,990 | +3.2% |
| Fixed assets | 21/28 | €477,218 | €463,282 | -€13,936 | -2.9% |
| Intangible fixed assets | 21 | - | €9,896 | +€9,896 | |
| Tangible fixed assets | 22/27 | €476,884 | €453,052 | -€23,832 | -5.0% |
| Land and buildings | 22 | €474,026 | €452,850 | -€21,176 | -4.5% |
| Plant, machinery and equipment | 23 | €2,857 | €202 | -€2,655 | -92.9% |
| Financial fixed assets | 28 | €334 | €334 | -€0 | -0.1% |
| Current assets | 29/58 | €310,304 | €349,230 | +€38,926 | +12.5% |
| Stocks and contracts in progress | 3 | €33,088 | €73,040 | +€39,952 | +121% |
| Stocks | 30/36 | €33,088 | €73,040 | +€39,952 | +121% |
| Amounts receivable within one year | 40/41 | €214,215 | €254,009 | +€39,794 | +18.6% |
| Trade receivables | 40 | €209,653 | €230,912 | +€21,259 | +10.1% |
| Other amounts receivable | 41 | €4,563 | €23,097 | +€18,534 | +406% |
| Cash at bank and in hand | 54/58 | €63,001 | €22,181 | -€40,820 | -64.8% |
| Total equity and liabilities | 10/49 | €787,522 | €812,512 | +€24,990 | +3.2% |
| Equity | 10/15 | €379,392 | €408,412 | +€29,020 | +7.6% |
| Contributions | 10/11 | €24,789 | €24,789 | -€0 | 0.0% |
| Reserves | 13 | €153,666 | €183,773 | +€30,107 | +19.6% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | +€0 | 0.0% |
| Distributable reserves | 133 | €151,187 | €181,294 | +€30,107 | +19.9% |
| Profit (loss) carried forward | 14 | €183,554 | €183,554 | -€0 | 0.0% |
| Investment grants | 15 | €17,382 | €16,296 | -€1,086 | -6.3% |
| Amounts payable | 17/49 | €408,130 | €404,100 | -€4,030 | -1.0% |
| Amounts payable after more than one year | 17 | €251,756 | €216,359 | -€35,397 | -14.1% |
| Financial debts | 170/4 | €251,756 | €216,359 | -€35,397 | -14.1% |
| Amounts payable within one year | 42/48 | €156,374 | €187,741 | +€31,367 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €34,725 | €35,398 | +€673 | +1.9% |
| Trade debts | 44 | €68,552 | €86,652 | +€18,100 | +26.4% |
| Suppliers | 440/4 | €68,552 | €86,652 | +€18,100 | +26.4% |
| Taxes, remuneration and social security | 45 | €31,372 | €43,849 | +€12,477 | +39.8% |
| Taxes | 450/3 | €31,372 | €43,849 | +€12,477 | +39.8% |
| Other amounts payable | 47/48 | €21,724 | €21,842 | +€118 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,077 | €23,936 | -€1,141 | -4.6% |
| Other operating charges | 640/8 | €37,374 | €38,206 | +€832 | +2.2% |
| Gross operating margin | 9900 | €85,646 | €111,335 | +€25,689 | +30.0% |
| Operating profit (loss) | 9901 | €23,195 | €49,193 | +€25,998 | +112% |
| Financial income | 75/76B | €2,177 | €1,087 | -€1,090 | -50.1% |
| Recurring financial income | 75 | €2,177 | €1,087 | -€1,090 | -50.1% |
| Financial charges | 65/66B | €6,406 | €5,741 | -€665 | -10.4% |
| Recurring financial charges | 65 | €6,406 | €5,741 | -€665 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €18,966 | €44,539 | +€25,573 | +135% |
| Income taxes | 67/77 | €5,580 | €14,432 | +€8,852 | +159% |
| Profit (loss) for the period | 9904 | €13,387 | €30,107 | +€16,720 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €13,387 | €30,107 | +€16,720 | +125% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.