ARESKO: 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.
ARESKO
Largest movements
- Receivables within one year +€35,949
up €35,949 (+19.3%), from €186,264 to €222,213
of which Other amounts receivable: +€20,114
- Cash -€23,418
down €23,418 (-22.7%), from €103,146 to €79,728
mainly Receivables within one year (-€35,949) and Trade debts (-€11,967)
- Tangible fixed assets +€8,816
up €8,816 (+30.5%), from €28,916 to €37,731
of which Furniture and vehicles: +€8,816
- Reserves +€42,328
up €42,328 (+14.7%), from €288,580 to €330,908
of which Distributable reserves: +€42,328
- Trade debts -€11,967
down €11,967 (-94.2%), from €12,705 to €738
- Tax, wage and social debts -€7,214
down €7,214 (-56.2%), from €12,840 to €5,626
- Gross operating margin +€29,655
up €29,655 (+125.4%), from €23,656 to €53,312
- Taxes +€6,939
up €6,939 (+64.4%), from €10,770 to €17,709
- Financial income -€5,224
down €5,224 (-37.1%), from €14,074 to €8,850
- Other operating charges -€807
down €807 (-39.8%), from €2,027 to €1,219
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 | €328,325 | €349,672 | +€21,346 | +6.5% |
| Fixed assets | 21/28 | €38,916 | €47,731 | +€8,816 | +22.7% |
| Tangible fixed assets | 22/27 | €28,916 | €37,731 | +€8,816 | +30.5% |
| Land and buildings | 22 | €27,104 | €27,104 | = | 0.0% |
| Furniture and vehicles | 24 | €1,811 | €10,627 | +€8,816 | +486.7% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €289,410 | €301,940 | +€12,531 | +4.3% |
| Amounts receivable within one year | 40/41 | €186,264 | €222,213 | +€35,949 | +19.3% |
| Trade receivables | 40 | €0 | €15,835 | +€15,835 | |
| Other amounts receivable | 41 | €186,264 | €206,378 | +€20,114 | +10.8% |
| Cash at bank and in hand | 54/58 | €103,146 | €79,728 | -€23,418 | -22.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €328,325 | €349,672 | +€21,346 | +6.5% |
| Equity | 10/15 | €300,980 | €343,308 | +€42,328 | +14.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €288,580 | €330,908 | +€42,328 | +14.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €286,720 | €329,048 | +€42,328 | +14.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,345 | €6,364 | -€20,982 | -76.7% |
| Amounts payable within one year | 42/48 | €27,345 | €6,364 | -€20,982 | -76.7% |
| Trade debts | 44 | €12,705 | €738 | -€11,967 | -94.2% |
| Suppliers | 440/4 | €12,705 | €738 | -€11,967 | -94.2% |
| Taxes, remuneration and social security | 45 | €12,840 | €5,626 | -€7,214 | -56.2% |
| Taxes | 450/3 | €12,840 | €5,626 | -€7,214 | -56.2% |
| Other amounts payable | 47/48 | €1,800 | €0 | -€1,800 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €627 | €975 | +€348 | +55.5% |
| Other operating charges | 640/8 | €2,027 | €1,219 | -€807 | -39.8% |
| Gross operating margin | 9900 | €23,656 | €53,312 | +€29,655 | +125.4% |
| Operating profit (loss) | 9901 | €21,003 | €51,117 | +€30,114 | +143.4% |
| Financial income | 75/76B | €14,074 | €8,850 | -€5,224 | -37.1% |
| Recurring financial income | 75 | €14,074 | €8,850 | -€5,224 | -37.1% |
| Financial charges | 65/66B | -€117 | -€70 | +€47 | +40.4% |
| Recurring financial charges | 65 | -€117 | -€70 | +€47 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €35,195 | €60,037 | +€24,843 | +70.6% |
| Income taxes | 67/77 | €10,770 | €17,709 | +€6,939 | +64.4% |
| Profit (loss) for the period | 9904 | €24,425 | €42,328 | +€17,903 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,425 | €42,328 | +€17,903 | +73.3% |
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.