ARELLEX: 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.
ARELLEX
Largest movements
- Tangible fixed assets -€9,994
down €9,994 (-2.7%), from €375,655 to €365,661
of which Land and buildings: -€12,453
- Cash -€6,837
down €6,837 (-84.2%), from €8,125 to €1,288
mainly Debts after one year (-€15,705) and Investment in fixed assets (net) (-€9,983)
- Debts after one year -€15,705
down €15,705 (-5.8%), from €268,694 to €252,989
- Profit (loss) carried forward -€6,501
down €6,501 (-28.3%), from -€22,968 to -€29,468
- Gross operating margin +€5,202
up €5,202 (+23.1%), from €22,541 to €27,743
- Financial charges -€2,389
down €2,389 (-16.3%), from €14,658 to €12,269
- Other operating charges +€1,959
up €1,959 (+5129.8%), from €38 to €1,997
- Depreciation +€1,818
up €1,818 (+10.0%), from €18,159 to €19,977
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 | €389,252 | €368,599 | -€20,653 | -5.3% |
| Fixed assets | 21/28 | €375,655 | €365,661 | -€9,994 | -2.7% |
| Tangible fixed assets | 22/27 | €375,655 | €365,661 | -€9,994 | -2.7% |
| Land and buildings | 22 | €372,182 | €359,730 | -€12,453 | -3.3% |
| Plant, machinery and equipment | 23 | €2,156 | €1,647 | -€509 | -23.6% |
| Furniture and vehicles | 24 | €1,316 | €4,284 | +€2,968 | +225.6% |
| Current assets | 29/58 | €13,597 | €2,938 | -€10,659 | -78.4% |
| Amounts receivable within one year | 40/41 | €359 | €356 | -€3 | -0.9% |
| Trade receivables | 40 | €359 | €356 | -€3 | -0.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,125 | €1,288 | -€6,837 | -84.2% |
| Deferred charges and accrued income | 490/1 | €5,114 | €1,295 | -€3,819 | -74.7% |
| Total equity and liabilities | 10/49 | €389,252 | €368,599 | -€20,653 | -5.3% |
| Equity | 10/15 | €57,032 | €50,532 | -€6,501 | -11.4% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,968 | -€29,468 | -€6,501 | -28.3% |
| Amounts payable | 17/49 | €332,219 | €318,067 | -€14,152 | -4.3% |
| Amounts payable after more than one year | 17 | €268,694 | €252,989 | -€15,705 | -5.8% |
| Financial debts | 170/4 | €268,694 | €252,989 | -€15,705 | -5.8% |
| Amounts payable within one year | 42/48 | €62,775 | €62,959 | +€184 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €15,054 | €15,705 | +€651 | +4.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €517 | €801 | +€284 | +54.9% |
| Suppliers | 440/4 | €517 | €801 | +€284 | +54.9% |
| Taxes, remuneration and social security | 45 | €4,574 | €3,800 | -€775 | -16.9% |
| Taxes | 450/3 | €4,574 | €3,800 | -€775 | -16.9% |
| Other amounts payable | 47/48 | €42,629 | €42,653 | +€24 | +0.1% |
| Accrued charges and deferred income | 492/3 | €751 | €2,119 | +€1,369 | +182.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,159 | €19,977 | +€1,818 | +10.0% |
| Other operating charges | 640/8 | €38 | €1,997 | +€1,959 | +5129.8% |
| Gross operating margin | 9900 | €22,541 | €27,743 | +€5,202 | +23.1% |
| Operating profit (loss) | 9901 | €4,344 | €5,768 | +€1,424 | +32.8% |
| Financial charges | 65/66B | €14,658 | €12,269 | -€2,389 | -16.3% |
| Recurring financial charges | 65 | €14,658 | €12,269 | -€2,389 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,314 | -€6,501 | +€3,813 | +37.0% |
| Profit (loss) for the period | 9904 | -€10,314 | -€6,501 | +€3,813 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,314 | -€6,501 | +€3,813 | +37.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.