ARETUSE-ALPHE: 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.
ARETUSE-ALPHE
Largest movements
- Cash +€9,392
up €9,392 (+78.2%), from €12,017 to €21,409
mainly Net result for the year (+€10,781) and Depreciation (+€2,616)
- Tangible fixed assets -€2,616
down €2,616 (-21.7%), from €12,033 to €9,417
- Receivables within one year -€1,175
no longer reported in 2025 (was €1,175)
- Deferred charges and accrued income +€847
new in 2025: €847
- Profit (loss) carried forward +€10,781
up €10,781 (+31.9%), from -€33,774 to -€22,993
- Accrued charges and deferred income -€3,535
down €3,535 (-79.4%), from €4,452 to €917
- Tax, wage and social debts -€795
down €795 (-12.0%), from €6,644 to €5,849
of which Taxes: -€795
- Other operating charges -€18,711
down €18,711 (-53.6%), from €34,930 to €16,219
- Gross operating margin +€2,174
up €2,174 (+7.9%), from €27,441 to €29,616
- Depreciation -€900
down €900 (-25.6%), from €3,516 to €2,616
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 | €25,304 | €31,751 | +€6,447 | +25.5% |
| Fixed assets | 21/28 | €12,111 | €9,495 | -€2,616 | -21.6% |
| Tangible fixed assets | 22/27 | €12,033 | €9,417 | -€2,616 | -21.7% |
| Plant, machinery and equipment | 23 | €12,033 | €9,417 | -€2,616 | -21.7% |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €13,193 | €22,255 | +€9,063 | +68.7% |
| Amounts receivable within one year | 40/41 | €1,175 | - | -€1,175 | |
| Trade receivables | 40 | €1,175 | - | -€1,175 | |
| Cash at bank and in hand | 54/58 | €12,017 | €21,409 | +€9,392 | +78.2% |
| Deferred charges and accrued income | 490/1 | - | €847 | +€847 | |
| Total equity and liabilities | 10/49 | €25,304 | €31,751 | +€6,447 | +25.5% |
| Equity | 10/15 | €9,899 | €20,679 | +€10,781 | +109% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €37,473 | €37,473 | = | 0.0% |
| 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 | €35,613 | €35,613 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,774 | -€22,993 | +€10,781 | +31.9% |
| Amounts payable | 17/49 | €15,405 | €11,071 | -€4,334 | -28.1% |
| Amounts payable within one year | 42/48 | €10,954 | €10,154 | -€799 | -7.3% |
| Trade debts | 44 | €22 | €16 | -€6 | -27.9% |
| Suppliers | 440/4 | €22 | €16 | -€6 | -27.9% |
| Taxes, remuneration and social security | 45 | €6,644 | €5,849 | -€795 | -12.0% |
| Taxes | 450/3 | €3,644 | €2,849 | -€795 | -21.8% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €4,288 | €4,290 | +€2 | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,452 | €917 | -€3,535 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,516 | €2,616 | -€900 | -25.6% |
| Other operating charges | 640/8 | €34,930 | €16,219 | -€18,711 | -53.6% |
| Gross operating margin | 9900 | €27,441 | €29,616 | +€2,174 | +7.9% |
| Operating profit (loss) | 9901 | -€11,005 | €10,781 | +€21,785 | |
| Profit (loss) for the period before taxes | 9903 | -€11,005 | €10,781 | +€21,785 | |
| Profit (loss) for the period | 9904 | -€11,005 | €10,781 | +€21,785 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,005 | €10,781 | +€21,785 |
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 21 October 2026 via checked.be.