C.ARAS: what changed
Two fiscal 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.
C.ARAS
Largest movements
- Receivables within one year -€108,689
down €108,689 (-76.4%), from €142,174 to €33,485
of which Trade receivables: -€108,750
- Tangible fixed assets +€10,587
up €10,587, from €0 to €10,587
- Stocks and contracts -€5,332
down €5,332 (-8.3%), from €64,425 to €59,094
- Cash +€4,288
up €4,288 (+152.1%), from €2,819 to €7,108
mainly Receivables within one year (+€108,689) and Other debts (+€23,183)
- Trade debts -€129,525
down €129,525 (-88.6%), from €146,199 to €16,675
- Other debts +€23,183
up €23,183 (+139.3%), from €16,645 to €39,828
- Tax, wage and social debts -€14,947
down €14,947 (-34.4%), from €43,511 to €28,564
of which Taxes: -€11,475
- Profit (loss) carried forward +€10,022
up €10,022 (+61.6%), from -€16,266 to -€6,244
- Debts after one year +€7,752
new in 2025: €7,752
- Other operating charges -€6,177
down €6,177 (-81.3%), from €7,594 to €1,417
- Taxes +€5,322
up €5,322 (+35.8%), from €14,882 to €20,204
- Gross operating margin +€4,624
up €4,624 (+17.7%), from €26,088 to €30,712
- Financial income +€4,242
up €4,242 (+4242220.0%), from €0 to €4,242
- Depreciation +€2,613
new in 2025: €2,613
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 | €210,549 | €110,273 | -€100,276 | -47.6% |
| Fixed assets | 21/28 | €1,006 | €10,587 | +€9,581 | +952.0% |
| Tangible fixed assets | 22/27 | €0 | €10,587 | +€10,587 | |
| Furniture and vehicles | 24 | €0 | €10,587 | +€10,587 | |
| Financial fixed assets | 28 | €1,006 | €0 | -€1,006 | -100.0% |
| Current assets | 29/58 | €209,543 | €99,686 | -€109,856 | -52.4% |
| Stocks and contracts in progress | 3 | €64,425 | €59,094 | -€5,332 | -8.3% |
| Stocks | 30/36 | €64,425 | €59,094 | -€5,332 | -8.3% |
| Amounts receivable within one year | 40/41 | €142,174 | €33,485 | -€108,689 | -76.4% |
| Trade receivables | 40 | €142,174 | €33,424 | -€108,750 | -76.5% |
| Other amounts receivable | 41 | - | €61 | +€61 | |
| Cash at bank and in hand | 54/58 | €2,819 | €7,108 | +€4,288 | +152.1% |
| Deferred charges and accrued income | 490/1 | €124 | €0 | -€124 | -100.0% |
| Total equity and liabilities | 10/49 | €210,549 | €110,273 | -€100,276 | -47.6% |
| Equity | 10/15 | €4,194 | €14,216 | +€10,022 | +239.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,266 | -€6,244 | +€10,022 | +61.6% |
| Amounts payable | 17/49 | €206,355 | €96,057 | -€110,298 | -53.5% |
| Amounts payable after more than one year | 17 | - | €7,752 | +€7,752 | |
| Financial debts | 170/4 | - | €7,752 | +€7,752 | |
| Amounts payable within one year | 42/48 | €206,355 | €88,305 | -€118,050 | -57.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,239 | +€3,239 | |
| Trade debts | 44 | €146,199 | €16,675 | -€129,525 | -88.6% |
| Suppliers | 440/4 | €146,199 | €16,675 | -€129,525 | -88.6% |
| Taxes, remuneration and social security | 45 | €43,511 | €28,564 | -€14,947 | -34.4% |
| Taxes | 450/3 | €40,040 | €28,564 | -€11,475 | -28.7% |
| Remuneration and social security | 454/9 | €3,471 | €0 | -€3,471 | -100.0% |
| Other amounts payable | 47/48 | €16,645 | €39,828 | +€23,183 | +139.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,613 | +€2,613 | |
| Other operating charges | 640/8 | €7,594 | €1,417 | -€6,177 | -81.3% |
| Gross operating margin | 9900 | €26,088 | €30,712 | +€4,624 | +17.7% |
| Operating profit (loss) | 9901 | €18,493 | €26,682 | +€8,188 | +44.3% |
| Financial income | 75/76B | €0 | €4,242 | +€4,242 | +4242220.0% |
| Recurring financial income | 75 | €0 | €4,242 | +€4,242 | +4242220.0% |
| Financial charges | 65/66B | €644 | €698 | +€54 | +8.4% |
| Recurring financial charges | 65 | €644 | €698 | +€54 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €17,850 | €30,226 | +€12,376 | +69.3% |
| Income taxes | 67/77 | €14,882 | €20,204 | +€5,322 | +35.8% |
| Profit (loss) for the period | 9904 | €2,968 | €10,022 | +€7,054 | +237.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,968 | €10,022 | +€7,054 | +237.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.