d'AREStie: 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.
d'AREStie
Largest movements
- Receivables within one year +€18,876
up €18,876 (+61.3%), from €30,795 to €49,671
of which Trade receivables: +€9,469
- Tangible fixed assets -€15,907
down €15,907 (-4.9%), from €325,939 to €310,032
of which Land and buildings: -€12,131
- Stocks and contracts +€5,321
new in 2025: €5,321
- Reserves +€25,754
up €25,754 (+11.7%), from €219,342 to €245,096
- Debts after one year -€21,988
down €21,988 (-9.1%), from €242,024 to €220,036
- Tax, wage and social debts +€6,720
up €6,720 (+49.6%), from €13,557 to €20,276
of which Taxes: +€4,367
- Gross operating margin -€53,689
down €53,689 (-36.6%), from €146,582 to €92,893
- Taxes -€10,595
down €10,595 (-59.1%), from €17,924 to €7,329
- Staff costs -€3,681
down €3,681 (-29.8%), from €12,347 to €8,666
- Depreciation +€3,175
up €3,175 (+9.2%), from €34,367 to €37,542
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 | €501,520 | €513,296 | +€11,776 | +2.3% |
| Fixed assets | 21/28 | €325,939 | €310,032 | -€15,907 | -4.9% |
| Tangible fixed assets | 22/27 | €325,939 | €310,032 | -€15,907 | -4.9% |
| Land and buildings | 22 | €246,141 | €234,010 | -€12,131 | -4.9% |
| Plant, machinery and equipment | 23 | €12,351 | €19,017 | +€6,666 | +54.0% |
| Furniture and vehicles | 24 | €67,447 | €57,005 | -€10,441 | -15.5% |
| Current assets | 29/58 | €175,581 | €203,264 | +€27,683 | +15.8% |
| Stocks and contracts in progress | 3 | - | €5,321 | +€5,321 | |
| Stocks | 30/36 | - | €5,321 | +€5,321 | |
| Amounts receivable within one year | 40/41 | €30,795 | €49,671 | +€18,876 | +61.3% |
| Trade receivables | 40 | €24,686 | €34,155 | +€9,469 | +38.4% |
| Other amounts receivable | 41 | €6,109 | €15,517 | +€9,407 | +154.0% |
| Cash at bank and in hand | 54/58 | €144,786 | €148,272 | +€3,486 | +2.4% |
| Total equity and liabilities | 10/49 | €501,520 | €513,296 | +€11,776 | +2.3% |
| Equity | 10/15 | €222,342 | €248,096 | +€25,754 | +11.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €219,342 | €245,096 | +€25,754 | +11.7% |
| Distributable reserves | 133 | €219,342 | €245,096 | +€25,754 | +11.7% |
| Amounts payable | 17/49 | €279,177 | €265,200 | -€13,978 | -5.0% |
| Amounts payable after more than one year | 17 | €242,024 | €220,036 | -€21,988 | -9.1% |
| Financial debts | 170/4 | €242,024 | €220,036 | -€21,988 | -9.1% |
| Amounts payable within one year | 42/48 | €37,154 | €45,164 | +€8,010 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €21,012 | €21,988 | +€976 | +4.6% |
| Taxes, remuneration and social security | 45 | €13,557 | €20,276 | +€6,720 | +49.6% |
| Taxes | 450/3 | €13,557 | €17,924 | +€4,367 | +32.2% |
| Remuneration and social security | 454/9 | - | €2,352 | +€2,352 | |
| Other amounts payable | 47/48 | €2,585 | €2,900 | +€315 | +12.2% |
| Remuneration, social security and pensions | 62 | €12,347 | €8,666 | -€3,681 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,367 | €37,542 | +€3,175 | +9.2% |
| Other operating charges | 640/8 | €626 | €1,752 | +€1,126 | +179.8% |
| Gross operating margin | 9900 | €146,582 | €92,893 | -€53,689 | -36.6% |
| Operating profit (loss) | 9901 | €99,241 | €44,934 | -€54,308 | -54.7% |
| Financial income | 75/76B | €75 | €1 | -€74 | -98.7% |
| Recurring financial income | 75 | €75 | €1 | -€74 | -98.7% |
| Financial charges | 65/66B | €12,785 | €11,852 | -€933 | -7.3% |
| Recurring financial charges | 65 | €12,785 | €11,852 | -€933 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €86,531 | €33,083 | -€53,449 | -61.8% |
| Income taxes | 67/77 | €17,924 | €7,329 | -€10,595 | -59.1% |
| Profit (loss) for the period | 9904 | €68,607 | €25,754 | -€42,854 | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,607 | €25,754 | -€42,854 | -62.5% |
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 7 October 2026 via checked.be.