AREUM: 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.
What changed
AREUM
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€177,800
2024 · €188,765-€10,965
Equity
€2.9m
2024 · €2.7m+€177,800
Cash
€79,347
2024 · €639+€78,708
Balance sheet total
€4.3m
2024 · €4.4m-€94,978
Largest movements
Assets
- Tangible fixed assets -€152,675
down €152,675 (-3.9%), from €3.9m to €3.7m
of which Land and buildings: -€119,144
- Cash +€78,708
up €78,708 (+12317.9%), from €639 to €79,347
mainly Net result for the year (+€177,800) and Depreciation (+€152,675)
Equity and liabilities
- Debts after one year -€240,317
down €240,317 (-20.6%), from €1.2m to €928,352
- Reserves +€177,760
up €177,760 (+6.7%), from €2.6m to €2.8m
of which Distributable reserves: +€99,895
Income statement
- Depreciation +€12,336
up €12,336 (+8.8%), from €140,339 to €152,675
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.
Result 2024
€188,765
Gross operating margin
+€4,003
Staff costs
-€308
Depreciation
-€12,336
Other operating charges
+€2,712
Financial income
-€987
Financial charges
-€4,640
Taxes
+€590
Result 2025
€177,800
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.
From operations
+€317,058
Investment
€0
Financing
-€238,350
Cash 2024
€639
From operations (derived)
+€317,058
Net result for the year
+€177,800
Depreciation
+€152,675
Receivables within one year
+€22,970
Deferred charges and accrued income
-€1,959
Provisions
-€11,066
Trade debts
-€18,501
Tax, wage and social debts
-€29,861
Other debts
+€25,000
Financing
-€238,350
Debts after one year
-€240,317
Current portion of long-term debt
+€1,967
Cash 2025
€79,347
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,370,241 | €4,275,263 | -€94,978 | -2.2% |
| Fixed assets | 21/28 | €3,917,047 | €3,764,372 | -€152,675 | -3.9% |
| Tangible fixed assets | 22/27 | €3,883,970 | €3,731,295 | -€152,675 | -3.9% |
| Land and buildings | 22 | €3,769,515 | €3,650,371 | -€119,144 | -3.2% |
| Furniture and vehicles | 24 | €101,405 | €71,636 | -€29,769 | -29.4% |
| Leasing and similar rights | 25 | €13,049 | €9,287 | -€3,762 | -28.8% |
| Financial fixed assets | 28 | €33,077 | €33,077 | = | 0.0% |
| Current assets | 29/58 | €453,194 | €510,891 | +€57,697 | +12.7% |
| Amounts receivable within one year | 40/41 | €443,739 | €420,769 | -€22,970 | -5.2% |
| Trade receivables | 40 | €98,125 | €73,708 | -€24,416 | -24.9% |
| Other amounts receivable | 41 | €345,614 | €347,060 | +€1,446 | +0.4% |
| Cash at bank and in hand | 54/58 | €639 | €79,347 | +€78,708 | +12317.9% |
| Deferred charges and accrued income | 490/1 | €8,817 | €10,776 | +€1,959 | +22.2% |
| Total equity and liabilities | 10/49 | €4,370,241 | €4,275,263 | -€94,978 | -2.2% |
| Equity | 10/15 | €2,705,680 | €2,883,480 | +€177,800 | +6.6% |
| Contributions | 10/11 | €46,553 | €46,553 | = | 0.0% |
| Reserves | 13 | €2,646,084 | €2,823,844 | +€177,760 | +6.7% |
| Non-distributable reserves | 130/1 | €5,895 | €0 | -€5,895 | -100.0% |
| Reserves not available under the articles | 1311 | €5,895 | €0 | -€5,895 | -100.0% |
| Tax-exempt reserves | 132 | €316,545 | €400,305 | +€83,760 | +26.5% |
| Distributable reserves | 133 | €2,323,644 | €2,423,539 | +€99,895 | +4.3% |
| Profit (loss) carried forward | 14 | €13,042 | €13,082 | +€40 | +0.3% |
| Provisions and deferred taxes | 16 | €140,320 | €129,254 | -€11,066 | -7.9% |
| Deferred taxes | 168 | €140,320 | €129,254 | -€11,066 | -7.9% |
| Amounts payable | 17/49 | €1,524,242 | €1,262,529 | -€261,712 | -17.2% |
| Amounts payable after more than one year | 17 | €1,168,669 | €928,352 | -€240,317 | -20.6% |
| Financial debts | 170/4 | €1,168,669 | €928,352 | -€240,317 | -20.6% |
| Amounts payable within one year | 42/48 | €355,573 | €334,178 | -€21,395 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €238,350 | €240,317 | +€1,967 | +0.8% |
| Trade debts | 44 | €19,569 | €1,069 | -€18,501 | -94.5% |
| Suppliers | 440/4 | €19,569 | €1,069 | -€18,501 | -94.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €32,159 | €2,298 | -€29,861 | -92.9% |
| Taxes | 450/3 | €32,159 | €2,298 | -€29,861 | -92.9% |
| Other amounts payable | 47/48 | €65,494 | €90,494 | +€25,000 | +38.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,417 | €1,724 | +€308 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,339 | €152,675 | +€12,336 | +8.8% |
| Other operating charges | 640/8 | €25,263 | €22,551 | -€2,712 | -10.7% |
| Gross operating margin | 9900 | €461,034 | €465,037 | +€4,003 | +0.9% |
| Operating profit (loss) | 9901 | €294,015 | €288,087 | -€5,929 | -2.0% |
| Financial income | 75/76B | €987 | €0 | -€987 | -100.0% |
| Recurring financial income | 75 | €987 | €0 | -€987 | -100.0% |
| Financial charges | 65/66B | €26,285 | €30,926 | +€4,640 | +17.7% |
| Recurring financial charges | 65 | €26,285 | €30,926 | +€4,640 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €268,717 | €257,161 | -€11,556 | -4.3% |
| Transfer from deferred taxes | 780 | €11,066 | €11,066 | = | 0.0% |
| Income taxes | 67/77 | €91,017 | €90,427 | -€590 | -0.6% |
| Profit (loss) for the period | 9904 | €188,765 | €177,800 | -€10,965 | -5.8% |
| Transfer from tax-exempt reserves | 789 | €21,490 | €21,490 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €210,255 | €94,040 | -€116,215 | -55.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.