ARES: 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.
ARES
Largest movements
- Tangible fixed assets -€19,171
down €19,171 (-22.2%), from €86,346 to €67,176
of which Plant, machinery and equipment: -€11,498
- Receivables within one year -€2,360
down €2,360 (-7.7%), from €30,629 to €28,269
of which Other amounts receivable: -€1,980
- Accrued charges and deferred income -€11,834
down €11,834 (-88.4%), from €13,393 to €1,559
- Profit (loss) carried forward -€9,058
down €9,058 (-29.5%), from -€30,755 to -€39,813
- Other debts +€8,783
up €8,783 (+15.0%), from €58,602 to €67,386
- Trade debts -€8,120
down €8,120 (-66.7%), from €12,166 to €4,046
- Current portion of long-term debt -€5,019
down €5,019 (-69.9%), from €7,184 to €2,165
- Gross operating margin +€35,301
up €35,301 (+136%), from €25,989 to €61,290
- Staff costs +€12,683
up €12,683 (+40.7%), from €31,132 to €43,815
- Depreciation +€1,829
up €1,829 (+9.9%), from €18,548 to €20,376
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €122,989 | €100,811 | -€22,178 | -18.0% |
| Fixed assets | 21/28 | €90,133 | €70,582 | -€19,551 | -21.7% |
| Intangible fixed assets | 21 | €3,786 | €3,406 | -€380 | -10.0% |
| Tangible fixed assets | 22/27 | €86,346 | €67,176 | -€19,171 | -22.2% |
| Plant, machinery and equipment | 23 | €66,030 | €54,532 | -€11,498 | -17.4% |
| Furniture and vehicles | 24 | €15,667 | €9,272 | -€6,395 | -40.8% |
| Other tangible fixed assets | 26 | €4,650 | €3,372 | -€1,278 | -27.5% |
| Current assets | 29/58 | €32,856 | €30,229 | -€2,627 | -8.0% |
| Amounts receivable within one year | 40/41 | €30,629 | €28,269 | -€2,360 | -7.7% |
| Trade receivables | 40 | €27,867 | €27,487 | -€380 | -1.4% |
| Other amounts receivable | 41 | €2,762 | €782 | -€1,980 | -71.7% |
| Cash at bank and in hand | 54/58 | €2,227 | €1,960 | -€267 | -12.0% |
| Total equity and liabilities | 10/49 | €122,989 | €100,811 | -€22,178 | -18.0% |
| Equity | 10/15 | €19,905 | €10,847 | -€9,058 | -45.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,060 | €32,060 | = | 0.0% |
| Distributable reserves | 133 | €32,060 | €32,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,755 | -€39,813 | -€9,058 | -29.5% |
| Amounts payable | 17/49 | €103,084 | €89,964 | -€13,120 | -12.7% |
| Amounts payable within one year | 42/48 | €89,691 | €88,405 | -€1,286 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €7,184 | €2,165 | -€5,019 | -69.9% |
| Trade debts | 44 | €12,166 | €4,046 | -€8,120 | -66.7% |
| Suppliers | 440/4 | €12,166 | €4,046 | -€8,120 | -66.7% |
| Taxes, remuneration and social security | 45 | €11,738 | €14,808 | +€3,070 | +26.2% |
| Taxes | 450/3 | €1,779 | €137 | -€1,642 | -92.3% |
| Remuneration and social security | 454/9 | €9,959 | €14,671 | +€4,712 | +47.3% |
| Other amounts payable | 47/48 | €58,602 | €67,386 | +€8,783 | +15.0% |
| Accrued charges and deferred income | 492/3 | €13,393 | €1,559 | -€11,834 | -88.4% |
| Remuneration, social security and pensions | 62 | €31,132 | €43,815 | +€12,683 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,548 | €20,376 | +€1,829 | +9.9% |
| Other operating charges | 640/8 | €5,138 | €5,138 | +€1 | 0.0% |
| Gross operating margin | 9900 | €25,989 | €61,290 | +€35,301 | +136% |
| Operating profit (loss) | 9901 | -€28,828 | -€8,040 | +€20,788 | +72.1% |
| Financial income | 75/76B | €42 | €6 | -€36 | -85.7% |
| Recurring financial income | 75 | €42 | €6 | -€36 | -85.7% |
| Financial charges | 65/66B | €1,494 | €1,024 | -€470 | -31.5% |
| Recurring financial charges | 65 | €1,494 | €1,024 | -€470 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | -€30,280 | -€9,058 | +€21,222 | +70.1% |
| Income taxes | 67/77 | €475 | - | -€475 | |
| Profit (loss) for the period | 9904 | -€30,755 | -€9,058 | +€21,697 | +70.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,755 | -€9,058 | +€21,697 | +70.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.