ARIANE: 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.
ARIANE
Largest movements
- Cash +€72,637
up €72,637 (+14.0%), from €519,222 to €591,859
mainly Net result for the year (+€47,566) and Depreciation (+€32,546)
- Tangible fixed assets -€32,546
down €32,546 (-4.1%), from €801,330 to €768,784
of which Land and buildings: -€28,438
- Receivables within one year -€18,197
down €18,197 (-28.6%), from €63,659 to €45,462
of which Trade receivables: -€25,440
- Reserves +€47,566
up €47,566 (+3.8%), from €1.3m to €1.3m
of which Distributable reserves: +€47,566
- Tax, wage and social debts -€18,869
down €18,869 (-59.7%), from €31,630 to €12,761
- Gross operating margin -€33,230
down €33,230 (-22.3%), from €149,269 to €116,039
- Taxes -€7,150
down €7,150 (-19.2%), from €37,162 to €30,012
- Depreciation -€1,756
down €1,756 (-5.1%), from €34,302 to €32,546
- Other operating charges +€1,587
up €1,587 (+28.5%), from €5,567 to €7,154
- Financial income +€1,572
new in 2025: €1,572
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 | €1,598,954 | €1,627,294 | +€28,340 | +1.8% |
| Fixed assets | 21/28 | €921,516 | €888,970 | -€32,546 | -3.5% |
| Tangible fixed assets | 22/27 | €801,330 | €768,784 | -€32,546 | -4.1% |
| Land and buildings | 22 | €795,511 | €767,073 | -€28,438 | -3.6% |
| Furniture and vehicles | 24 | €5,819 | €1,711 | -€4,108 | -70.6% |
| Financial fixed assets | 28 | €120,186 | €120,186 | = | 0.0% |
| Current assets | 29/58 | €677,438 | €738,324 | +€60,886 | +9.0% |
| Amounts receivable within one year | 40/41 | €63,659 | €45,462 | -€18,197 | -28.6% |
| Trade receivables | 40 | €63,659 | €38,219 | -€25,440 | -40.0% |
| Other amounts receivable | 41 | - | €7,243 | +€7,243 | |
| Current investments | 50/53 | €94,267 | €94,745 | +€478 | +0.5% |
| Cash at bank and in hand | 54/58 | €519,222 | €591,859 | +€72,637 | +14.0% |
| Deferred charges and accrued income | 490/1 | €290 | €6,258 | +€5,968 | +2057.9% |
| Total equity and liabilities | 10/49 | €1,598,954 | €1,627,294 | +€28,340 | +1.8% |
| Equity | 10/15 | €1,566,386 | €1,613,952 | +€47,566 | +3.0% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,266,386 | €1,313,952 | +€47,566 | +3.8% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €1,236,386 | €1,283,952 | +€47,566 | +3.8% |
| Amounts payable | 17/49 | €32,568 | €13,342 | -€19,226 | -59.0% |
| Amounts payable within one year | 42/48 | €32,568 | €13,342 | -€19,226 | -59.0% |
| Trade debts | 44 | €938 | €581 | -€357 | -38.1% |
| Suppliers | 440/4 | €938 | €581 | -€357 | -38.1% |
| Taxes, remuneration and social security | 45 | €31,630 | €12,761 | -€18,869 | -59.7% |
| Taxes | 450/3 | €31,630 | €12,761 | -€18,869 | -59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,302 | €32,546 | -€1,756 | -5.1% |
| Other operating charges | 640/8 | €5,567 | €7,154 | +€1,587 | +28.5% |
| Gross operating margin | 9900 | €149,269 | €116,039 | -€33,230 | -22.3% |
| Operating profit (loss) | 9901 | €109,400 | €76,339 | -€33,061 | -30.2% |
| Financial income | 75/76B | - | €1,572 | +€1,572 | |
| Recurring financial income | 75 | - | €1,572 | +€1,572 | |
| Financial charges | 65/66B | €244 | €333 | +€89 | +36.5% |
| Recurring financial charges | 65 | €244 | €333 | +€89 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €109,156 | €77,578 | -€31,578 | -28.9% |
| Income taxes | 67/77 | €37,162 | €30,012 | -€7,150 | -19.2% |
| Profit (loss) for the period | 9904 | €71,994 | €47,566 | -€24,428 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,994 | €47,566 | -€24,428 | -33.9% |
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 11 October 2026 via checked.be.