AREHA: 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.
AREHA
Largest movements
- Stocks and contracts +€1.0m
up €1.0m (+407%), from €253,823 to €1.3m
- Cash +€291,717
up €291,717 (+565%), from €51,634 to €343,352
mainly Accrued charges and deferred income (+€1.3m) and Tax, wage and social debts (+€154,174)
- Tangible fixed assets -€69,913
down €69,913 (-6.7%), from €1.0m to €969,069
of which Land and buildings: -€69,577
- Accrued charges and deferred income +€1.3m
up €1.3m (+4,137%), from €31,120 to €1.3m
- Tax, wage and social debts +€154,174
up €154,174 (+1,705%), from €9,044 to €163,218
- Other debts -€143,912
down €143,912 (-56.7%), from €253,795 to €109,884
- Current portion of long-term debt -€97,324
down €97,324 (-39.1%), from €249,025 to €151,701
- Reserves +€94,000
up €94,000 (+627%), from €15,000 to €109,000
of which Distributable reserves: +€94,000
- Gross operating margin +€97,184
up €97,184 (+74.2%), from €130,996 to €228,180
- Taxes +€36,199
up €36,199 (+678%), from €5,339 to €41,538
- Depreciation -€2,576
down €2,576 (-3.3%), from €77,989 to €75,413
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 | €1,364,940 | €2,607,861 | +€1.2m | +91.1% |
| Fixed assets | 21/28 | €1,038,982 | €969,069 | -€69,913 | -6.7% |
| Tangible fixed assets | 22/27 | €1,038,982 | €969,069 | -€69,913 | -6.7% |
| Land and buildings | 22 | €1,024,614 | €955,037 | -€69,577 | -6.8% |
| Plant, machinery and equipment | 23 | €8,994 | €12,842 | +€3,848 | +42.8% |
| Furniture and vehicles | 24 | €5,374 | €1,191 | -€4,184 | -77.8% |
| Current assets | 29/58 | €325,958 | €1,638,791 | +€1.3m | +403% |
| Stocks and contracts in progress | 3 | €253,823 | €1,287,195 | +€1.0m | +407% |
| Stocks | 30/36 | €253,823 | €1,287,195 | +€1.0m | +407% |
| Amounts receivable within one year | 40/41 | €13,601 | €1,383 | -€12,218 | -89.8% |
| Trade receivables | 40 | €11,483 | €1,383 | -€10,100 | -88.0% |
| Other amounts receivable | 41 | €2,118 | - | -€2,118 | |
| Cash at bank and in hand | 54/58 | €51,634 | €343,352 | +€291,717 | +565% |
| Deferred charges and accrued income | 490/1 | €6,900 | €6,862 | -€39 | -0.6% |
| Total equity and liabilities | 10/49 | €1,364,940 | €2,607,861 | +€1.2m | +91.1% |
| Equity | 10/15 | €453,113 | €549,671 | +€96,557 | +21.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €15,000 | €109,000 | +€94,000 | +627% |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | - | €94,000 | +€94,000 | |
| Profit (loss) carried forward | 14 | €417,653 | €420,211 | +€2,557 | +0.6% |
| Amounts payable | 17/49 | €911,827 | €2,058,190 | +€1.1m | +126% |
| Amounts payable after more than one year | 17 | €217,102 | €197,723 | -€19,378 | -8.9% |
| Financial debts | 170/4 | €217,102 | €197,723 | -€19,378 | -8.9% |
| Amounts payable within one year | 42/48 | €663,605 | €541,798 | -€121,807 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €249,025 | €151,701 | -€97,324 | -39.1% |
| Trade debts | 44 | €151,741 | €116,996 | -€34,746 | -22.9% |
| Suppliers | 440/4 | €151,741 | €116,996 | -€34,746 | -22.9% |
| Taxes, remuneration and social security | 45 | €9,044 | €163,218 | +€154,174 | +1,705% |
| Taxes | 450/3 | €9,044 | €163,218 | +€154,174 | +1,705% |
| Other amounts payable | 47/48 | €253,795 | €109,884 | -€143,912 | -56.7% |
| Accrued charges and deferred income | 492/3 | €31,120 | €1,318,668 | +€1.3m | +4,137% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,989 | €75,413 | -€2,576 | -3.3% |
| Other operating charges | 640/8 | €11,343 | €9,173 | -€2,170 | -19.1% |
| Gross operating margin | 9900 | €130,996 | €228,180 | +€97,184 | +74.2% |
| Operating profit (loss) | 9901 | €41,665 | €143,594 | +€101,930 | +245% |
| Financial income | 75/76B | €17 | €339 | +€322 | +1,860% |
| Recurring financial income | 75 | €17 | €339 | +€322 | +1,860% |
| Financial charges | 65/66B | €5,534 | €5,838 | +€304 | +5.5% |
| Recurring financial charges | 65 | €5,534 | €5,838 | +€304 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €36,148 | €138,095 | +€101,947 | +282% |
| Income taxes | 67/77 | €5,339 | €41,538 | +€36,199 | +678% |
| Profit (loss) for the period | 9904 | €30,810 | €96,557 | +€65,748 | +213% |
| Profit (loss) for the period to be appropriated | 9905 | €30,810 | €96,557 | +€65,748 | +213% |
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 19 October 2026 via checked.be.