ARISTOCRAT: 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.
ARISTOCRAT
Largest movements
- Tangible fixed assets -€86,388
down €86,388 (-7.9%), from €1.1m to €1.0m
of which Land and buildings: -€52,891
- Debts after one year -€473,667
down €473,667 (-82.7%), from €573,055 to €99,389
- Other debts +€403,294
up €403,294 (+9,113%), from €4,425 to €407,719
- Gross operating margin +€19,588
up €19,588 (+15.8%), from €123,874 to €143,462
- Financial charges -€8,343
down €8,343 (-18.7%), from €44,655 to €36,312
- Other operating charges +€2,262
up €2,262 (+9.9%), from €22,948 to €25,210
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 | €1,150,589 | €1,055,669 | -€94,920 | -8.2% |
| Fixed assets | 21/28 | €1,087,736 | €1,001,348 | -€86,388 | -7.9% |
| Tangible fixed assets | 22/27 | €1,087,736 | €1,001,348 | -€86,388 | -7.9% |
| Land and buildings | 22 | €952,418 | €899,527 | -€52,891 | -5.6% |
| Plant, machinery and equipment | 23 | €51,381 | €34,254 | -€17,127 | -33.3% |
| Other tangible fixed assets | 26 | €83,937 | €67,567 | -€16,370 | -19.5% |
| Current assets | 29/58 | €62,853 | €54,321 | -€8,532 | -13.6% |
| Amounts receivable within one year | 40/41 | - | €773 | +€773 | |
| Trade receivables | 40 | - | €773 | +€773 | |
| Cash at bank and in hand | 54/58 | €47,695 | €36,445 | -€11,250 | -23.6% |
| Deferred charges and accrued income | 490/1 | €15,158 | €17,102 | +€1,945 | +12.8% |
| Total equity and liabilities | 10/49 | €1,150,589 | €1,055,669 | -€94,920 | -8.2% |
| Equity | 10/15 | €467,931 | €458,740 | -€9,191 | -2.0% |
| Contributions | 10/11 | €120,300 | €120,300 | = | 0.0% |
| Capital | 10 | €120,300 | €120,300 | = | 0.0% |
| Issued capital | 100 | €120,300 | €120,300 | = | 0.0% |
| Reserves | 13 | €39,337 | €39,337 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,065 | €12,065 | = | 0.0% |
| Legal reserve | 130 | €12,065 | €12,065 | = | 0.0% |
| Distributable reserves | 133 | €27,272 | €27,272 | = | 0.0% |
| Profit (loss) carried forward | 14 | €308,294 | €299,103 | -€9,191 | -3.0% |
| Amounts payable | 17/49 | €682,658 | €596,929 | -€85,729 | -12.6% |
| Amounts payable after more than one year | 17 | €573,055 | €99,389 | -€473,667 | -82.7% |
| Financial debts | 170/4 | €573,055 | €99,389 | -€473,667 | -82.7% |
| Amounts payable within one year | 42/48 | €108,594 | €496,532 | +€387,937 | +357% |
| Current portion of amounts payable after more than one year | 42 | €64,667 | €53,667 | -€11,000 | -17.0% |
| Trade debts | 44 | €3,412 | €5,410 | +€1,998 | +58.5% |
| Suppliers | 440/4 | €3,412 | €5,410 | +€1,998 | +58.5% |
| Taxes, remuneration and social security | 45 | €36,090 | €29,736 | -€6,354 | -17.6% |
| Taxes | 450/3 | €36,090 | €29,736 | -€6,354 | -17.6% |
| Other amounts payable | 47/48 | €4,425 | €407,719 | +€403,294 | +9,113% |
| Accrued charges and deferred income | 492/3 | €1,009 | €1,009 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,784 | €91,131 | +€1,347 | +1.5% |
| Other operating charges | 640/8 | €22,948 | €25,210 | +€2,262 | +9.9% |
| Gross operating margin | 9900 | €123,874 | €143,462 | +€19,588 | +15.8% |
| Operating profit (loss) | 9901 | €11,142 | €27,121 | +€15,980 | +143% |
| Financial charges | 65/66B | €44,655 | €36,312 | -€8,343 | -18.7% |
| Recurring financial charges | 65 | €44,655 | €36,312 | -€8,343 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,514 | -€9,191 | +€24,323 | +72.6% |
| Profit (loss) for the period | 9904 | -€33,514 | -€9,191 | +€24,323 | +72.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,514 | -€9,191 | +€24,323 | +72.6% |
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 16 October 2026 via checked.be.