ARESCO: 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.
ARESCO
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€32,018
down €32,018 (-77.5%), from €41,310 to €9,291
mainly Current investments (-€50,000) and Receivables within one year (-€9,896)
- Receivables within one year +€9,896
up €9,896 (+16.3%), from €60,634 to €70,530
of which Trade receivables: +€8,406
- Accrued charges and deferred income +€22,499
up €22,499 (+318%), from €7,075 to €29,574
- Profit (loss) carried forward +€4,146
up €4,146 (+1.8%), from -€227,031 to -€222,885
- Gross operating margin +€20,631
up €20,631 (+114%), from €18,119 to €38,750
- Financial charges +€8,015
up €8,015 (+55.2%), from €14,514 to €22,529
- Other operating charges -€1,210
down €1,210 (-9.2%), from €13,097 to €11,887
- Financial income -€612
down €612 (-100%), from €612 to €0
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 | €372,212 | €398,248 | +€26,036 | +7.0% |
| Fixed assets | 21/28 | €197,105 | €196,918 | -€188 | -0.1% |
| Tangible fixed assets | 22/27 | €196,243 | €196,055 | -€188 | -0.1% |
| Land and buildings | 22 | €196,055 | €196,055 | = | 0.0% |
| Furniture and vehicles | 24 | €188 | €0 | -€188 | -100% |
| Financial fixed assets | 28 | €863 | €863 | = | 0.0% |
| Current assets | 29/58 | €175,106 | €201,330 | +€26,224 | +15.0% |
| Stocks and contracts in progress | 3 | €73,163 | €71,509 | -€1,654 | -2.3% |
| Stocks | 30/36 | €73,163 | €71,509 | -€1,654 | -2.3% |
| Amounts receivable within one year | 40/41 | €60,634 | €70,530 | +€9,896 | +16.3% |
| Trade receivables | 40 | €60,451 | €68,856 | +€8,406 | +13.9% |
| Other amounts receivable | 41 | €183 | €1,673 | +€1,490 | +814% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €41,310 | €9,291 | -€32,018 | -77.5% |
| Total equity and liabilities | 10/49 | €372,212 | €398,248 | +€26,036 | +7.0% |
| Equity | 10/15 | €63,117 | €67,263 | +€4,146 | +6.6% |
| Contributions | 10/11 | €131,000 | €131,000 | = | 0.0% |
| Capital | 10 | €131,000 | €131,000 | = | 0.0% |
| Issued capital | 100 | €131,000 | €131,000 | = | 0.0% |
| Reserves | 13 | €159,148 | €159,148 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,004 | €4,004 | = | 0.0% |
| Legal reserve | 130 | €4,004 | €4,004 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,197 | €31,197 | = | 0.0% |
| Distributable reserves | 133 | €123,947 | €123,947 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,031 | -€222,885 | +€4,146 | +1.8% |
| Amounts payable | 17/49 | €309,095 | €330,985 | +€21,890 | +7.1% |
| Amounts payable after more than one year | 17 | €6,350 | €6,350 | = | 0.0% |
| Other amounts payable | 178/9 | €6,350 | €6,350 | = | 0.0% |
| Amounts payable within one year | 42/48 | €295,670 | €295,061 | -€609 | -0.2% |
| Trade debts | 44 | €35 | €61 | +€26 | +74.0% |
| Suppliers | 440/4 | €35 | €61 | +€26 | +74.0% |
| Taxes, remuneration and social security | 45 | €635 | €0 | -€635 | -100% |
| Taxes | 450/3 | €635 | €0 | -€635 | -100% |
| Other amounts payable | 47/48 | €295,000 | €295,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,075 | €29,574 | +€22,499 | +318% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175 | €188 | +€13 | +7.4% |
| Other operating charges | 640/8 | €13,097 | €11,887 | -€1,210 | -9.2% |
| Gross operating margin | 9900 | €18,119 | €38,750 | +€20,631 | +114% |
| Operating profit (loss) | 9901 | €4,848 | €26,675 | +€21,827 | +450% |
| Financial income | 75/76B | €612 | €0 | -€612 | -100% |
| Recurring financial income | 75 | €612 | €0 | -€612 | -100% |
| Financial charges | 65/66B | €14,514 | €22,529 | +€8,015 | +55.2% |
| Recurring financial charges | 65 | €14,514 | €22,529 | +€8,015 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,055 | €4,146 | +€13,201 | |
| Profit (loss) for the period | 9904 | -€9,055 | €4,146 | +€13,201 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,055 | €4,146 | +€13,201 |
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 20 October 2026 via checked.be.