A&R COMMERCE: 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.
A&R COMMERCE
Largest movements
- Tangible fixed assets -€11,772
down €11,772 (-2.4%), from €498,793 to €487,021
of which Land and buildings: -€17,112
- Cash +€7,712
up €7,712 (+172%), from €4,474 to €12,186
mainly Depreciation (+€17,603) and Net result for the year (+€14,484)
- Debts after one year -€17,557
down €17,557 (-5.7%), from €307,165 to €289,607
- Profit (loss) carried forward +€11,310
no longer reported in 2025 (was -€11,310)
- Gross operating margin +€27,717
up €27,717 (+110%), from €25,122 to €52,840
- Financial charges +€745
up €745 (+5.4%), from €13,811 to €14,556
- Taxes +€648
new in 2025: €648
- Depreciation +€635
up €635 (+3.7%), from €16,968 to €17,603
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 | €509,595 | €505,438 | -€4,157 | -0.8% |
| Fixed assets | 21/28 | €498,793 | €487,021 | -€11,772 | -2.4% |
| Tangible fixed assets | 22/27 | €498,793 | €487,021 | -€11,772 | -2.4% |
| Land and buildings | 22 | €496,950 | €479,838 | -€17,112 | -3.4% |
| Plant, machinery and equipment | 23 | €1,843 | €7,183 | +€5,340 | +290% |
| Current assets | 29/58 | €10,802 | €18,416 | +€7,615 | +70.5% |
| Stocks and contracts in progress | 3 | €5,200 | €5,200 | = | 0.0% |
| Stocks | 30/36 | €5,200 | €5,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,051 | €1,030 | -€21 | -2.0% |
| Other amounts receivable | 41 | €1,051 | €1,030 | -€21 | -2.0% |
| Cash at bank and in hand | 54/58 | €4,474 | €12,186 | +€7,712 | +172% |
| Deferred charges and accrued income | 490/1 | €76 | - | -€76 | |
| Total equity and liabilities | 10/49 | €509,595 | €505,438 | -€4,157 | -0.8% |
| Equity | 10/15 | €138,890 | €153,374 | +€14,484 | +10.4% |
| Contributions | 10/11 | €150,200 | €150,200 | = | 0.0% |
| Contributions outside capital | 11 | €150,200 | €150,200 | = | 0.0% |
| Other | 1109/19 | €150,200 | €150,200 | = | 0.0% |
| Reserves | 13 | - | €3,174 | +€3,174 | |
| Distributable reserves | 133 | - | €3,174 | +€3,174 | |
| Profit (loss) carried forward | 14 | -€11,310 | - | +€11,310 | |
| Amounts payable | 17/49 | €370,705 | €352,064 | -€18,641 | -5.0% |
| Amounts payable after more than one year | 17 | €307,165 | €289,607 | -€17,557 | -5.7% |
| Financial debts | 170/4 | €307,165 | €289,607 | -€17,557 | -5.7% |
| Amounts payable within one year | 42/48 | €63,541 | €62,457 | -€1,084 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €18,229 | €18,988 | +€760 | +4.2% |
| Trade debts | 44 | €1,850 | - | -€1,850 | |
| Suppliers | 440/4 | €1,850 | - | -€1,850 | |
| Taxes, remuneration and social security | 45 | - | €648 | +€648 | |
| Taxes | 450/3 | - | €648 | +€648 | |
| Other amounts payable | 47/48 | €43,462 | €42,821 | -€642 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,968 | €17,603 | +€635 | +3.7% |
| Other operating charges | 640/8 | €5,595 | €5,548 | -€47 | -0.8% |
| Gross operating margin | 9900 | €25,122 | €52,840 | +€27,717 | +110% |
| Operating profit (loss) | 9901 | €2,559 | €29,688 | +€27,129 | +1,060% |
| Financial charges | 65/66B | €13,811 | €14,556 | +€745 | +5.4% |
| Recurring financial charges | 65 | €13,811 | €14,556 | +€745 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,252 | €15,132 | +€26,384 | |
| Income taxes | 67/77 | - | €648 | +€648 | |
| Profit (loss) for the period | 9904 | -€11,252 | €14,484 | +€25,736 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,252 | €14,484 | +€25,736 |
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 16 October 2026 via checked.be.