AREOPAGE: 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.
AREOPAGE
Largest movements
- Cash +€6,617
up €6,617 (+5.6%), from €117,301 to €123,918
mainly Receivables within one year (+€4,267) and Depreciation (+€3,070)
- Receivables within one year -€4,267
down €4,267 (-38.0%), from €11,228 to €6,961
of which Other amounts receivable: -€4,271
- Tangible fixed assets -€2,071
down €2,071 (-17.2%), from €12,013 to €9,942
of which Furniture and vehicles: -€1,207
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1,302
down €1,302 (-23.1%), from €5,632 to €4,330
- Depreciation -€322
down €322 (-9.5%), from €3,392 to €3,070
- Taxes -€133
down €133 (-50.2%), from €265 to €132
- Financial charges -€106
down €106 (-46.1%), from €230 to €124
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 | €142,660 | €142,975 | +€315 | +0.2% |
| Fixed assets | 21/28 | €12,013 | €9,942 | -€2,071 | -17.2% |
| Tangible fixed assets | 22/27 | €12,013 | €9,942 | -€2,071 | -17.2% |
| Plant, machinery and equipment | 23 | €3,580 | €3,185 | -€395 | -11.0% |
| Furniture and vehicles | 24 | €4,782 | €3,575 | -€1,207 | -25.2% |
| Other tangible fixed assets | 26 | €3,651 | €3,182 | -€469 | -12.8% |
| Current assets | 29/58 | €130,647 | €133,033 | +€2,386 | +1.8% |
| Stocks and contracts in progress | 3 | €956 | €1,200 | +€244 | +25.5% |
| Stocks | 30/36 | €956 | €1,200 | +€244 | +25.5% |
| Amounts receivable within one year | 40/41 | €11,228 | €6,961 | -€4,267 | -38.0% |
| Trade receivables | 40 | €5,089 | €5,093 | +€4 | +0.1% |
| Other amounts receivable | 41 | €6,139 | €1,868 | -€4,271 | -69.6% |
| Cash at bank and in hand | 54/58 | €117,301 | €123,918 | +€6,617 | +5.6% |
| Deferred charges and accrued income | 490/1 | €1,162 | €954 | -€208 | -17.9% |
| Total equity and liabilities | 10/49 | €142,660 | €142,975 | +€315 | +0.2% |
| Equity | 10/15 | €91,583 | €91,949 | +€366 | +0.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €62,892 | €62,892 | = | 0.0% |
| Distributable reserves | 133 | €62,892 | €62,892 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,231 | €8,597 | +€366 | +4.4% |
| Amounts payable | 17/49 | €51,077 | €51,026 | -€51 | -0.1% |
| Amounts payable within one year | 42/48 | €51,077 | €51,026 | -€51 | -0.1% |
| Trade debts | 44 | €121 | €200 | +€79 | +65.3% |
| Suppliers | 440/4 | €121 | €200 | +€79 | +65.3% |
| Taxes, remuneration and social security | 45 | €1,231 | €1,161 | -€70 | -5.7% |
| Taxes | 450/3 | €1,231 | €1,161 | -€70 | -5.7% |
| Other amounts payable | 47/48 | €49,725 | €49,665 | -€60 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,392 | €3,070 | -€322 | -9.5% |
| Other operating charges | 640/8 | €626 | €649 | +€23 | +3.7% |
| Gross operating margin | 9900 | €5,632 | €4,330 | -€1,302 | -23.1% |
| Operating profit (loss) | 9901 | €1,614 | €611 | -€1,003 | -62.1% |
| Financial income | 75/76B | €3 | €11 | +€8 | +266.7% |
| Recurring financial income | 75 | €3 | €11 | +€8 | +266.7% |
| Financial charges | 65/66B | €230 | €124 | -€106 | -46.1% |
| Recurring financial charges | 65 | €230 | €124 | -€106 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €1,387 | €498 | -€889 | -64.1% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €265 | €132 | -€133 | -50.2% |
| Profit (loss) for the period | 9904 | €1,122 | €366 | -€756 | -67.4% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,122 | €366 | -€756 | -67.4% |
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 4 October 2026 via checked.be.