ARJEL: 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.
ARJEL
Largest movements
- Financial fixed assets +€491,443
up €491,443 (+61.0%), from €806,057 to €1.3m
- Revaluation surpluses +€491,443
new in 2025: €491,443
- Other debts +€47,027
up €47,027 (+6.6%), from €710,191 to €757,218
- Current portion of long-term debt -€25,715
no longer reported in 2025 (was €25,715)
- Debts after one year -€21,689
no longer reported in 2025 (was €21,689)
No income-statement line moved by more than 1% of the activity.
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 | €809,113 | €1,299,467 | +€490,355 | +60.6% |
| Fixed assets | 21/28 | €806,057 | €1,297,500 | +€491,443 | +61.0% |
| Financial fixed assets | 28 | €806,057 | €1,297,500 | +€491,443 | +61.0% |
| Current assets | 29/58 | €3,056 | €1,967 | -€1,088 | -35.6% |
| Cash at bank and in hand | 54/58 | €2,993 | €1,877 | -€1,116 | -37.3% |
| Deferred charges and accrued income | 490/1 | €63 | €91 | +€28 | +44.4% |
| Total equity and liabilities | 10/49 | €809,113 | €1,299,467 | +€490,355 | +60.6% |
| Equity | 10/15 | €50,170 | €540,072 | +€489,902 | +976% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €491,443 | +€491,443 | |
| Reserves | 13 | €15,690 | €15,690 | = | 0.0% |
| Distributable reserves | 133 | €15,690 | €15,690 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,480 | €12,938 | -€1,541 | -10.6% |
| Amounts payable | 17/49 | €758,943 | €759,396 | +€453 | +0.1% |
| Amounts payable after more than one year | 17 | €21,689 | - | -€21,689 | |
| Financial debts | 170/4 | €21,689 | - | -€21,689 | |
| Amounts payable within one year | 42/48 | €737,254 | €759,396 | +€22,142 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €25,715 | - | -€25,715 | |
| Trade debts | 44 | €1,348 | €2,178 | +€830 | +61.6% |
| Suppliers | 440/4 | €1,348 | €2,178 | +€830 | +61.6% |
| Other amounts payable | 47/48 | €710,191 | €757,218 | +€47,027 | +6.6% |
| Remuneration, social security and pensions | 62 | €775 | €400 | -€375 | -48.4% |
| Other operating charges | 640/8 | €141 | €828 | +€687 | +489% |
| Gross operating margin | 9900 | €0 | - | = | |
| Operating profit (loss) | 9901 | -€915 | -€1,227 | -€312 | -34.1% |
| Financial charges | 65/66B | €1,229 | €314 | -€915 | -74.4% |
| Recurring financial charges | 65 | €1,229 | €314 | -€915 | -74.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,144 | -€1,541 | +€603 | +28.1% |
| Profit (loss) for the period | 9904 | -€2,144 | -€1,541 | +€603 | +28.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,144 | -€1,541 | +€603 | +28.1% |
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 18 October 2026 via checked.be.