ARIANE GESTCO: 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 GESTCO
Largest movements
- Receivables within one year +€1.8m
up €1.8m (+1,336%), from €132,695 to €1.9m
of which Other amounts receivable: +€1.5m
- Financial fixed assets -€510,436
no longer reported in 2025 (was €510,436)
- Tangible fixed assets -€346,107
down €346,107 (-8.1%), from €4.3m to €3.9m
- Formation expenses -€69,316
no longer reported in 2025 (was €69,316)
- Cash +€67,016
up €67,016 (+14.6%), from €459,535 to €526,550
mainly Net result for the year (+€2.3m) and Investment in fixed assets (net) (+€510,436)
- Profit (loss) carried forward +€2.3m
up €2.3m (+55.7%), from -€4.2m to -€1.8m
- Short-term financial debts -€500,000
no longer reported in 2025 (was €500,000)
- Tax, wage and social debts -€332,541
down €332,541 (-98.6%), from €337,409 to €4,868
- Current portion of long-term debt -€245,799
down €245,799 (-32.8%), from €749,132 to €503,333
- Debts after one year -€155,445
down €155,445 (-2.2%), from €7.2m to €7.0m
of which Other amounts payable: -€182,025
- Gross operating margin +€2.5m
up €2.5m (+214%), from €1.2m to €3.7m
- Write-downs -€336,022
down €336,022 (-85.9%), from €390,978 to €54,956
- Taxes +€190,652
up €190,652 (+58,938%), from €323 to €190,975
- Financial charges -€100,701
down €100,701 (-18.5%), from €544,156 to €443,455
- Other operating charges -€50,087
down €50,087 (-14.1%), from €355,860 to €305,772
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 | €5,464,232 | €6,392,002 | +€927,770 | +17.0% |
| Formation expenses | 20 | €69,316 | - | -€69,316 | |
| Fixed assets | 21/28 | €4,798,879 | €3,942,336 | -€856,543 | -17.8% |
| Tangible fixed assets | 22/27 | €4,288,443 | €3,942,336 | -€346,107 | -8.1% |
| Land and buildings | 22 | €4,288,443 | €3,942,336 | -€346,107 | -8.1% |
| Financial fixed assets | 28 | €510,436 | - | -€510,436 | |
| Current assets | 29/58 | €596,038 | €2,449,667 | +€1.9m | +311% |
| Amounts receivable within one year | 40/41 | €132,695 | €1,905,734 | +€1.8m | +1,336% |
| Trade receivables | 40 | €66,497 | €291,820 | +€225,323 | +339% |
| Other amounts receivable | 41 | €66,198 | €1,613,914 | +€1.5m | +2,338% |
| Cash at bank and in hand | 54/58 | €459,535 | €526,550 | +€67,016 | +14.6% |
| Deferred charges and accrued income | 490/1 | €3,808 | €17,382 | +€13,575 | +357% |
| Total equity and liabilities | 10/49 | €5,464,232 | €6,392,002 | +€927,770 | +17.0% |
| Equity | 10/15 | -€3,663,881 | -€1,380,330 | +€2.3m | +62.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,158,684 | -€1,844,078 | +€2.3m | +55.7% |
| Investment grants | 15 | €432,803 | €401,748 | -€31,055 | -7.2% |
| Provisions and deferred taxes | 16 | €144,268 | €128,277 | -€15,991 | -11.1% |
| Deferred taxes | 168 | €144,268 | €128,277 | -€15,991 | -11.1% |
| Amounts payable | 17/49 | €8,983,846 | €7,644,056 | -€1.3m | -14.9% |
| Amounts payable after more than one year | 17 | €7,202,112 | €7,046,667 | -€155,445 | -2.2% |
| Financial debts | 170/4 | €7,020,087 | €7,046,667 | +€26,580 | +0.4% |
| Other amounts payable | 178/9 | €182,025 | - | -€182,025 | |
| Amounts payable within one year | 42/48 | €1,673,146 | €509,068 | -€1.2m | -69.6% |
| Current portion of amounts payable after more than one year | 42 | €749,132 | €503,333 | -€245,799 | -32.8% |
| Financial debts | 43 | €500,000 | - | -€500,000 | |
| Other loans | 439 | €500,000 | - | -€500,000 | |
| Trade debts | 44 | €32,508 | €867 | -€31,641 | -97.3% |
| Suppliers | 440/4 | €32,508 | €867 | -€31,641 | -97.3% |
| Taxes, remuneration and social security | 45 | €337,409 | €4,868 | -€332,541 | -98.6% |
| Taxes | 450/3 | €337,409 | €4,868 | -€332,541 | -98.6% |
| Other amounts payable | 47/48 | €54,098 | - | -€54,098 | |
| Accrued charges and deferred income | 492/3 | €108,588 | €88,321 | -€20,266 | -18.7% |
| Non-recurring operating income | 76A | €566 | €2,350,000 | +€2.3m | +414,999% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €415,422 | €415,423 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €390,978 | €54,956 | -€336,022 | -85.9% |
| Other operating charges | 640/8 | €355,860 | €305,772 | -€50,087 | -14.1% |
| Gross operating margin | 9900 | €1,170,163 | €3,670,468 | +€2.5m | +214% |
| Operating profit (loss) | 9901 | €7,903 | €2,894,317 | +€2.9m | +36,523% |
| Financial income | 75/76B | €34,153 | €38,729 | +€4,576 | +13.4% |
| Recurring financial income | 75 | €34,153 | €38,729 | +€4,576 | +13.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €544,156 | €443,455 | -€100,701 | -18.5% |
| Recurring financial charges | 65 | €544,156 | €443,455 | -€100,701 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | -€502,100 | €2,489,590 | +€3.0m | |
| Transfer from deferred taxes | 780 | €15,991 | €15,991 | = | 0.0% |
| Income taxes | 67/77 | €323 | €190,975 | +€190,652 | +58,938% |
| Profit (loss) for the period | 9904 | -€486,433 | €2,314,606 | +€2.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€486,433 | €2,314,606 | +€2.8m |
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 19 October 2026 via checked.be.