ARETEI: 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.
ARETEI
Largest movements
- Cash +€26,671
up €26,671 (+71.9%), from €37,107 to €63,778
mainly Net result for the year (+€37,949) and Receivables within one year (+€10,443)
- Receivables within one year -€10,443
down €10,443 (-63.3%), from €16,493 to €6,050
of which Trade receivables: -€6,195
- Tangible fixed assets +€6,511
up €6,511 (+42.2%), from €15,442 to €21,953
of which Land and buildings: +€9,937
- Profit (loss) carried forward +€37,949
up €37,949 (+100.7%), from €37,691 to €75,640
- Trade debts -€15,196
down €15,196 (-98.8%), from €15,383 to €187
- Other debts +€3,960
up €3,960 (+90.4%), from €4,379 to €8,339
- Tax, wage and social debts -€3,201
down €3,201 (-33.4%), from €9,587 to €6,386
- Gross operating margin +€4,808
up €4,808 (+10.1%), from €47,557 to €52,364
- Depreciation +€4,010
new in 2025: €4,010
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 | €69,041 | €92,552 | +€23,512 | +34.1% |
| Fixed assets | 21/28 | €15,442 | €21,953 | +€6,511 | +42.2% |
| Tangible fixed assets | 22/27 | €15,442 | €21,953 | +€6,511 | +42.2% |
| Land and buildings | 22 | - | €9,937 | +€9,937 | |
| Furniture and vehicles | 24 | €3,020 | €2,014 | -€1,007 | -33.3% |
| Other tangible fixed assets | 26 | €12,421 | €10,002 | -€2,419 | -19.5% |
| Current assets | 29/58 | €53,599 | €70,600 | +€17,000 | +31.7% |
| Amounts receivable within one year | 40/41 | €16,493 | €6,050 | -€10,443 | -63.3% |
| Trade receivables | 40 | €12,245 | €6,050 | -€6,195 | -50.6% |
| Other amounts receivable | 41 | €4,247 | - | -€4,247 | |
| Cash at bank and in hand | 54/58 | €37,107 | €63,778 | +€26,671 | +71.9% |
| Deferred charges and accrued income | 490/1 | - | €772 | +€772 | |
| Total equity and liabilities | 10/49 | €69,041 | €92,552 | +€23,512 | +34.1% |
| Equity | 10/15 | €39,691 | €77,640 | +€37,949 | +95.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,691 | €75,640 | +€37,949 | +100.7% |
| Amounts payable | 17/49 | €29,349 | €14,912 | -€14,437 | -49.2% |
| Amounts payable within one year | 42/48 | €29,349 | €14,912 | -€14,437 | -49.2% |
| Trade debts | 44 | €15,383 | €187 | -€15,196 | -98.8% |
| Suppliers | 440/4 | €15,383 | €187 | -€15,196 | -98.8% |
| Taxes, remuneration and social security | 45 | €9,587 | €6,386 | -€3,201 | -33.4% |
| Taxes | 450/3 | €9,587 | €6,386 | -€3,201 | -33.4% |
| Other amounts payable | 47/48 | €4,379 | €8,339 | +€3,960 | +90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,010 | +€4,010 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €47,557 | €52,364 | +€4,808 | +10.1% |
| Operating profit (loss) | 9901 | €47,439 | €48,234 | +€796 | +1.7% |
| Financial charges | 65/66B | €160 | €322 | +€162 | +101.2% |
| Recurring financial charges | 65 | €160 | €322 | +€162 | +101.2% |
| Profit (loss) for the period before taxes | 9903 | €47,279 | €47,913 | +€634 | +1.3% |
| Income taxes | 67/77 | €9,587 | €9,964 | +€377 | +3.9% |
| Profit (loss) for the period | 9904 | €37,691 | €37,949 | +€257 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,691 | €37,949 | +€257 | +0.7% |
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 2 October 2026 via checked.be.