AREOSA: 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.
AREOSA
Largest movements
- Cash +€170,460
up €170,460 (+111.6%), from €152,698 to €323,158
mainly Net result for the year (+€128,551) and Tax, wage and social debts (+€35,400)
- Receivables after one year +€25,000
new in 2025: €25,000
- Receivables within one year -€20,719
down €20,719 (-36.7%), from €56,464 to €35,745
of which Trade receivables: -€19,499
- Tangible fixed assets -€18,364
down €18,364 (-28.4%), from €64,774 to €46,410
of which Leasing and similar rights: -€15,385
- Reserves +€128,551
up €128,551 (+77.5%), from €165,905 to €294,456
- Tax, wage and social debts +€35,400
up €35,400 (+81.0%), from €43,711 to €79,111
of which Taxes: +€37,400
- Debts after one year -€15,412
down €15,412 (-32.8%), from €46,917 to €31,505
- Other debts +€5,746
up €5,746 (+5744.8%), from €100 to €5,846
- Gross operating margin +€32,102
up €32,102 (+20.7%), from €154,939 to €187,041
- Taxes +€8,493
up €8,493 (+28.9%), from €29,345 to €37,838
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 | €275,573 | €432,519 | +€156,947 | +57.0% |
| Fixed assets | 21/28 | €64,774 | €46,410 | -€18,364 | -28.4% |
| Tangible fixed assets | 22/27 | €64,774 | €46,410 | -€18,364 | -28.4% |
| Plant, machinery and equipment | 23 | €1,298 | €968 | -€330 | -25.4% |
| Furniture and vehicles | 24 | €2,815 | €166 | -€2,649 | -94.1% |
| Leasing and similar rights | 25 | €60,661 | €45,275 | -€15,385 | -25.4% |
| Current assets | 29/58 | €210,799 | €386,109 | +€175,311 | +83.2% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €56,464 | €35,745 | -€20,719 | -36.7% |
| Trade receivables | 40 | €55,058 | €35,559 | -€19,499 | -35.4% |
| Other amounts receivable | 41 | €1,406 | €186 | -€1,220 | -86.8% |
| Cash at bank and in hand | 54/58 | €152,698 | €323,158 | +€170,460 | +111.6% |
| Deferred charges and accrued income | 490/1 | €1,637 | €2,207 | +€570 | +34.8% |
| Total equity and liabilities | 10/49 | €275,573 | €432,519 | +€156,947 | +57.0% |
| Equity | 10/15 | €168,505 | €297,056 | +€128,551 | +76.3% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €165,905 | €294,456 | +€128,551 | +77.5% |
| Distributable reserves | 133 | €165,905 | €294,456 | +€128,551 | +77.5% |
| Amounts payable | 17/49 | €107,068 | €135,464 | +€28,396 | +26.5% |
| Amounts payable after more than one year | 17 | €46,917 | €31,505 | -€15,412 | -32.8% |
| Financial debts | 170/4 | €46,917 | €31,505 | -€15,412 | -32.8% |
| Amounts payable within one year | 42/48 | €60,151 | €103,959 | +€43,808 | +72.8% |
| Current portion of amounts payable after more than one year | 42 | €14,748 | €15,412 | +€664 | +4.5% |
| Trade debts | 44 | €1,592 | €3,590 | +€1,998 | +125.5% |
| Suppliers | 440/4 | €1,592 | €3,590 | +€1,998 | +125.5% |
| Taxes, remuneration and social security | 45 | €43,711 | €79,111 | +€35,400 | +81.0% |
| Taxes | 450/3 | €41,711 | €79,111 | +€37,400 | +89.7% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100.0% |
| Other amounts payable | 47/48 | €100 | €5,846 | +€5,746 | +5744.8% |
| Non-recurring operating income | 76A | - | €685 | +€685 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,603 | €16,052 | -€1,551 | -8.8% |
| Other operating charges | 640/8 | €1,728 | €1,797 | +€69 | +4.0% |
| Gross operating margin | 9900 | €154,939 | €187,041 | +€32,102 | +20.7% |
| Operating profit (loss) | 9901 | €135,608 | €169,192 | +€33,584 | +24.8% |
| Financial income | 75/76B | €8 | €26 | +€18 | +223.3% |
| Recurring financial income | 75 | €8 | €26 | +€18 | +223.3% |
| Financial charges | 65/66B | €3,530 | €2,829 | -€701 | -19.8% |
| Recurring financial charges | 65 | €3,530 | €2,829 | -€701 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €132,086 | €166,389 | +€34,303 | +26.0% |
| Income taxes | 67/77 | €29,345 | €37,838 | +€8,493 | +28.9% |
| Profit (loss) for the period | 9904 | €102,741 | €128,551 | +€25,809 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €102,741 | €128,551 | +€25,809 | +25.1% |
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 29 September 2026 via checked.be.