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
- Stocks and contracts +€124,966
up €124,966 (+77.0%), from €162,234 to €287,200
of which Stocks: +€214,000
- Receivables within one year -€118,117
down €118,117 (-42.5%), from €277,858 to €159,741
of which Trade receivables: -€105,605
- Cash -€53,923
down €53,923 (-25.9%), from €208,292 to €154,370
mainly Trade debts (-€133,396) and Stocks and contracts (-€124,966)
- Tangible fixed assets -€22,614
down €22,614 (-14.0%), from €161,025 to €138,410
- Trade debts -€133,396
down €133,396 (-97.8%), from €136,335 to €2,939
- Reserves +€94,000
up €94,000 (+25.8%), from €364,210 to €458,210
of which Distributable reserves: +€94,000
- Debts after one year -€11,778
down €11,778 (-7.6%), from €154,170 to €142,391
- Other debts -€8,181
down €8,181 (-17.4%), from €46,963 to €38,782
- Gross operating margin -€44,136
down €44,136 (-20.5%), from €215,019 to €170,883
- Taxes -€9,303
down €9,303 (-17.9%), from €52,064 to €42,761
- Other operating charges -€3,419
down €3,419 (-59.5%), from €5,750 to €2,331
- Financial charges +€2,756
up €2,756 (+36.0%), from €7,647 to €10,403
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €814,228 | €742,453 | -€71,776 | -8.8% |
| Fixed assets | 21/28 | €163,252 | €141,098 | -€22,153 | -13.6% |
| Intangible fixed assets | 21 | €2,227 | €2,688 | +€461 | +20.7% |
| Tangible fixed assets | 22/27 | €161,025 | €138,410 | -€22,614 | -14.0% |
| Land and buildings | 22 | €144,295 | €133,800 | -€10,496 | -7.3% |
| Plant, machinery and equipment | 23 | €5,633 | €4,207 | -€1,426 | -25.3% |
| Furniture and vehicles | 24 | €11,097 | €404 | -€10,693 | -96.4% |
| Current assets | 29/58 | €650,977 | €601,354 | -€49,622 | -7.6% |
| Stocks and contracts in progress | 3 | €162,234 | €287,200 | +€124,966 | +77.0% |
| Stocks | 30/36 | €73,200 | €287,200 | +€214,000 | +292.3% |
| Contracts in progress | 37 | €89,034 | - | -€89,034 | |
| Amounts receivable within one year | 40/41 | €277,858 | €159,741 | -€118,117 | -42.5% |
| Trade receivables | 40 | €251,627 | €146,022 | -€105,605 | -42.0% |
| Other amounts receivable | 41 | €26,231 | €13,719 | -€12,512 | -47.7% |
| Cash at bank and in hand | 54/58 | €208,292 | €154,370 | -€53,923 | -25.9% |
| Deferred charges and accrued income | 490/1 | €2,593 | €43 | -€2,549 | -98.3% |
| Total equity and liabilities | 10/49 | €814,228 | €742,453 | -€71,776 | -8.8% |
| Equity | 10/15 | €422,328 | €516,380 | +€94,052 | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €364,210 | €458,210 | +€94,000 | +25.8% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €345,460 | €439,460 | +€94,000 | +27.2% |
| Profit (loss) carried forward | 14 | €39,518 | €39,570 | +€52 | +0.1% |
| Amounts payable | 17/49 | €391,900 | €226,072 | -€165,828 | -42.3% |
| Amounts payable after more than one year | 17 | €154,170 | €142,391 | -€11,778 | -7.6% |
| Financial debts | 170/4 | €154,170 | €142,391 | -€11,778 | -7.6% |
| Amounts payable within one year | 42/48 | €235,517 | €83,681 | -€151,836 | -64.5% |
| Current portion of amounts payable after more than one year | 42 | €18,796 | €12,873 | -€5,924 | -31.5% |
| Trade debts | 44 | €136,335 | €2,939 | -€133,396 | -97.8% |
| Suppliers | 440/4 | €136,335 | €2,939 | -€133,396 | -97.8% |
| Taxes, remuneration and social security | 45 | €33,424 | €29,088 | -€4,336 | -13.0% |
| Taxes | 450/3 | €33,424 | €29,088 | -€4,336 | -13.0% |
| Other amounts payable | 47/48 | €46,963 | €38,782 | -€8,181 | -17.4% |
| Accrued charges and deferred income | 492/3 | €2,213 | - | -€2,213 | |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | -€204 | €261 | +€465 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,257 | €23,273 | -€983 | -4.1% |
| Other operating charges | 640/8 | €5,750 | €2,331 | -€3,419 | -59.5% |
| Gross operating margin | 9900 | €215,019 | €170,883 | -€44,136 | -20.5% |
| Operating profit (loss) | 9901 | €185,216 | €145,018 | -€40,198 | -21.7% |
| Financial income | 75/76B | €1,440 | €2,198 | +€759 | +52.7% |
| Recurring financial income | 75 | €1,440 | €2,198 | +€759 | +52.7% |
| Financial charges | 65/66B | €7,647 | €10,403 | +€2,756 | +36.0% |
| Recurring financial charges | 65 | €7,647 | €10,403 | +€2,756 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €179,009 | €136,813 | -€42,196 | -23.6% |
| Income taxes | 67/77 | €52,064 | €42,761 | -€9,303 | -17.9% |
| Profit (loss) for the period | 9904 | €126,945 | €94,052 | -€32,893 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €126,945 | €94,052 | -€32,893 | -25.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.