ARELIA: 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.
ARELIA
Largest movements
- Financial fixed assets -€6.7m
down €6.7m (-60.0%), from €11.2m to €4.5m
- Current investments -€6.7m
down €6.7m (-100.0%), from €6.7m to €0
- Cash +€279,049
up €279,049 (+2078.8%), from €13,423 to €292,472
mainly Depreciation (+€6.8m) and Current investments (+€6.7m)
- Profit (loss) carried forward -€6.8m
down €6.8m (-99.7%), from €6.8m to €22,586
- Reserves -€6.7m
down €6.7m (-98.7%), from €6.8m to €90,400
of which Non-distributable reserves: -€6.7m
- Other debts +€3.4m
up €3.4m (+1777.3%), from €191,251 to €3.6m
- Debts after one year -€2.6m
down €2.6m (-72.3%), from €3.6m to €1.0m
of which Other amounts payable: -€2.1m
- Short-term financial debts -€500,000
down €500,000 (-100.0%), from €500,000 to €0
- Depreciation +€6.7m
up €6.7m (+9417.1%), from €71,148 to €6.8m
- Gross operating margin -€90,718
down €90,718, from €85,755 to -€4,963
- Financial income -€17,262
down €17,262 (-21.6%), from €79,845 to €62,583
- Financial charges +€6,013
up €6,013 (+8.7%), from €68,765 to €74,778
- Other operating charges -€3,874
down €3,874 (-40.3%), from €9,605 to €5,730
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 | €18,946,096 | €5,770,786 | -€13.2m | -69.5% |
| Fixed assets | 21/28 | €12,221,259 | €5,460,621 | -€6.8m | -55.3% |
| Tangible fixed assets | 22/27 | €1,052,526 | €990,182 | -€62,344 | -5.9% |
| Land and buildings | 22 | €265,000 | €928,359 | +€663,359 | +250.3% |
| Plant, machinery and equipment | 23 | €695,600 | €0 | -€695,600 | -100.0% |
| Furniture and vehicles | 24 | €91,926 | €61,824 | -€30,103 | -32.7% |
| Financial fixed assets | 28 | €11,168,733 | €4,470,438 | -€6.7m | -60.0% |
| Current assets | 29/58 | €6,724,837 | €310,165 | -€6.4m | -95.4% |
| Amounts receivable within one year | 40/41 | €14,420 | €17,692 | +€3,272 | +22.7% |
| Trade receivables | 40 | €2 | €1,258 | +€1,256 | +72183.9% |
| Other amounts receivable | 41 | €14,418 | €16,434 | +€2,016 | +14.0% |
| Current investments | 50/53 | €6,696,994 | €0 | -€6.7m | -100.0% |
| Cash at bank and in hand | 54/58 | €13,423 | €292,472 | +€279,049 | +2078.8% |
| Total equity and liabilities | 10/49 | €18,946,096 | €5,770,786 | -€13.2m | -69.5% |
| Equity | 10/15 | €14,558,915 | €1,068,995 | -€13.5m | -92.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Share premium | 1100/10 | €18,600 | - | -€18,600 | |
| Revaluation surpluses | 12 | €937,409 | €937,409 | = | 0.0% |
| Reserves | 13 | €6,767,394 | €90,400 | -€6.7m | -98.7% |
| Non-distributable reserves | 130/1 | €6,767,394 | €70,400 | -€6.7m | -99.0% |
| Reserves not available under the articles | 1311 | €70,400 | €70,400 | = | 0.0% |
| Own shares acquired | 1312 | €6,696,994 | €0 | -€6.7m | -100.0% |
| Distributable reserves | 133 | - | €20,000 | +€20,000 | |
| Profit (loss) carried forward | 14 | €6,835,512 | €22,586 | -€6.8m | -99.7% |
| Amounts payable | 17/49 | €4,387,181 | €4,701,790 | +€314,609 | +7.2% |
| Amounts payable after more than one year | 17 | €3,604,263 | €1,000,000 | -€2.6m | -72.3% |
| Financial debts | 170/4 | €1,470,496 | €1,000,000 | -€470,496 | -32.0% |
| Other amounts payable | 178/9 | €2,133,767 | €0 | -€2.1m | -100.0% |
| Amounts payable within one year | 42/48 | €782,918 | €3,701,790 | +€2.9m | +372.8% |
| Current portion of amounts payable after more than one year | 42 | €58,528 | €105,912 | +€47,384 | +81.0% |
| Financial debts | 43 | €500,000 | €0 | -€500,000 | -100.0% |
| Credit institutions | 430/8 | €500,000 | €0 | -€500,000 | -100.0% |
| Trade debts | 44 | €30,730 | €4,084 | -€26,646 | -86.7% |
| Suppliers | 440/4 | €30,730 | €4,084 | -€26,646 | -86.7% |
| Taxes, remuneration and social security | 45 | €2,409 | €1,507 | -€902 | -37.4% |
| Taxes | 450/3 | €2,409 | €1,507 | -€902 | -37.4% |
| Other amounts payable | 47/48 | €191,251 | €3,590,287 | +€3.4m | +1777.3% |
| Non-recurring operating income | 76A | €35,000 | €0 | -€35,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,148 | €6,771,250 | +€6.7m | +9417.1% |
| Other operating charges | 640/8 | €9,605 | €5,730 | -€3,874 | -40.3% |
| Non-recurring operating charges | 66A | - | €394 | +€394 | |
| Gross operating margin | 9900 | €85,755 | -€4,963 | -€90,718 | |
| Operating profit (loss) | 9901 | €5,002 | -€6,782,338 | -€6.8m | |
| Financial income | 75/76B | €79,845 | €62,583 | -€17,262 | -21.6% |
| Recurring financial income | 75 | €79,845 | €62,583 | -€17,262 | -21.6% |
| Financial charges | 65/66B | €68,765 | €74,778 | +€6,013 | +8.7% |
| Recurring financial charges | 65 | €68,765 | €74,778 | +€6,013 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €16,082 | -€6,794,533 | -€6.8m | |
| Income taxes | 67/77 | €1,690 | €3,026 | +€1,336 | +79.1% |
| Profit (loss) for the period | 9904 | €14,392 | -€6,797,559 | -€6.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €14,392 | -€6,797,559 | -€6.8m |
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 11 October 2026 via checked.be.