ARISTA CONSEIL: 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.
ARISTA CONSEIL
Largest movements
- Current investments -€66,150
no longer reported in 2025 (was €66,150)
- Tangible fixed assets -€24,416
down €24,416 (-7.7%), from €315,902 to €291,486
of which Furniture and vehicles: -€13,284
- Receivables within one year +€9,703
up €9,703 (+3,346%), from €290 to €9,993
of which Other amounts receivable: +€9,993
- Deferred charges and accrued income +€6,999
up €6,999 (+69.5%), from €10,068 to €17,067
- Cash -€6,564
down €6,564 (-10.6%), from €62,160 to €55,595
mainly Other debts (-€90,714) and Debts after one year (-€23,041)
- Other debts -€90,714
down €90,714 (-92.5%), from €98,099 to €7,386
- Debts after one year -€23,041
down €23,041 (-35.9%), from €64,244 to €41,203
- Reserves +€21,050
up €21,050 (+11.2%), from €188,186 to €209,236
of which Tax-exempt reserves: +€21,050
- Provisions +€18,701
up €18,701 (+49.5%), from €37,800 to €56,501
- Profit (loss) carried forward -€18,046
new in 2025: -€18,046
- Financial charges +€81,397
up €81,397 (+4,128%), from €1,972 to €83,369
- Gross operating margin -€28,143
down €28,143 (-15.4%), from €182,361 to €154,218
- Taxes -€24,686
down €24,686 (-55.5%), from €44,462 to €19,776
- Financial income +€10,358
new in 2025: €10,358
- Provisions +€9,251
up €9,251 (+97.9%), from €9,450 to €18,701
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 | €454,569 | €374,140 | -€80,429 | -17.7% |
| Fixed assets | 21/28 | €315,902 | €291,486 | -€24,416 | -7.7% |
| Tangible fixed assets | 22/27 | €315,902 | €291,486 | -€24,416 | -7.7% |
| Land and buildings | 22 | €61,527 | €60,284 | -€1,244 | -2.0% |
| Furniture and vehicles | 24 | €25,065 | €11,781 | -€13,284 | -53.0% |
| Other tangible fixed assets | 26 | €271 | €1,635 | +€1,364 | +504% |
| Assets under construction and advance payments | 27 | €229,039 | €217,786 | -€11,253 | -4.9% |
| Current assets | 29/58 | €138,668 | €82,655 | -€56,013 | -40.4% |
| Amounts receivable within one year | 40/41 | €290 | €9,993 | +€9,703 | +3,346% |
| Trade receivables | 40 | €290 | - | -€290 | |
| Other amounts receivable | 41 | - | €9,993 | +€9,993 | |
| Current investments | 50/53 | €66,150 | - | -€66,150 | |
| Cash at bank and in hand | 54/58 | €62,160 | €55,595 | -€6,564 | -10.6% |
| Deferred charges and accrued income | 490/1 | €10,068 | €17,067 | +€6,999 | +69.5% |
| Total equity and liabilities | 10/49 | €454,569 | €374,140 | -€80,429 | -17.7% |
| Equity | 10/15 | €194,386 | €197,390 | +€3,004 | +1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €188,186 | €209,236 | +€21,050 | +11.2% |
| Tax-exempt reserves | 132 | €42,100 | €63,150 | +€21,050 | +50.0% |
| Distributable reserves | 133 | €146,086 | €146,086 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€18,046 | -€18,046 | |
| Provisions and deferred taxes | 16 | €37,800 | €56,501 | +€18,701 | +49.5% |
| Provisions for liabilities and charges | 160/5 | €37,800 | €56,501 | +€18,701 | +49.5% |
| Other liabilities and charges | 164/5 | €37,800 | €56,501 | +€18,701 | +49.5% |
| Amounts payable | 17/49 | €222,384 | €120,250 | -€102,134 | -45.9% |
| Amounts payable after more than one year | 17 | €64,244 | €41,203 | -€23,041 | -35.9% |
| Financial debts | 170/4 | €64,244 | €41,203 | -€23,041 | -35.9% |
| Amounts payable within one year | 42/48 | €158,140 | €75,313 | -€82,827 | -52.4% |
| Current portion of amounts payable after more than one year | 42 | €22,682 | €23,041 | +€359 | +1.6% |
| Trade debts | 44 | €1,513 | €9,010 | +€7,497 | +495% |
| Suppliers | 440/4 | €1,513 | €9,010 | +€7,497 | +495% |
| Taxes, remuneration and social security | 45 | €35,845 | €35,876 | +€31 | +0.1% |
| Taxes | 450/3 | €35,845 | €35,876 | +€31 | +0.1% |
| Other amounts payable | 47/48 | €98,099 | €7,386 | -€90,714 | -92.5% |
| Accrued charges and deferred income | 492/3 | - | €3,734 | +€3,734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,346 | €34,544 | +€199 | +0.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €9,450 | €18,701 | +€9,251 | +97.9% |
| Other operating charges | 640/8 | €8,274 | €5,183 | -€3,091 | -37.4% |
| Gross operating margin | 9900 | €182,361 | €154,218 | -€28,143 | -15.4% |
| Operating profit (loss) | 9901 | €130,292 | €95,791 | -€34,501 | -26.5% |
| Financial income | 75/76B | - | €10,358 | +€10,358 | |
| Recurring financial income | 75 | - | €10,358 | +€10,358 | |
| Financial charges | 65/66B | €1,972 | €83,369 | +€81,397 | +4,128% |
| Recurring financial charges | 65 | €1,972 | €83,369 | +€81,397 | +4,128% |
| Profit (loss) for the period before taxes | 9903 | €128,320 | €22,780 | -€105,540 | -82.2% |
| Income taxes | 67/77 | €44,462 | €19,776 | -€24,686 | -55.5% |
| Profit (loss) for the period | 9904 | €83,858 | €3,004 | -€80,854 | -96.4% |
| Transfer from tax-exempt reserves | 789 | €21,050 | €8,420 | -€12,630 | -60.0% |
| Transfer to tax-exempt reserves | 689 | €29,470 | €29,470 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,438 | -€18,046 | -€93,484 |
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.