A.R.S.: 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.S.
Largest movements
- Tangible fixed assets -€6,435
down €6,435 (-12.1%), from €53,357 to €46,922
of which Other tangible fixed assets: -€8,431
- Deferred charges and accrued income +€677
new in 2025: €677
- Tax, wage and social debts -€2,229
no longer reported in 2025 (was €2,229)
- Reserves -€2,071
down €2,071 (-61.1%), from €3,390 to €1,320
- Profit (loss) carried forward -€1,455
no longer reported in 2025 (was €1,455)
- Depreciation -€3,172
down €3,172 (-26.8%), from €11,818 to €8,647
- Financial charges +€383
up €383 (+471%), from €81 to €465
- Gross operating margin +€193
up €193 (+3.5%), from €5,465 to €5,658
- Taxes -€90
down €90 (-54.9%), from €164 to €74
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 | €64,473 | €58,868 | -€5,606 | -8.7% |
| Fixed assets | 21/28 | €53,357 | €46,922 | -€6,435 | -12.1% |
| Tangible fixed assets | 22/27 | €53,357 | €46,922 | -€6,435 | -12.1% |
| Plant, machinery and equipment | 23 | €835 | €621 | -€215 | -25.7% |
| Furniture and vehicles | 24 | - | €2,211 | +€2,211 | |
| Other tangible fixed assets | 26 | €52,521 | €44,090 | -€8,431 | -16.1% |
| Current assets | 29/58 | €11,117 | €11,946 | +€829 | +7.5% |
| Amounts receivable within one year | 40/41 | €2,101 | €2,179 | +€78 | +3.7% |
| Trade receivables | 40 | €2,101 | €2,130 | +€29 | +1.4% |
| Other amounts receivable | 41 | - | €49 | +€49 | |
| Cash at bank and in hand | 54/58 | €9,016 | €9,090 | +€74 | +0.8% |
| Deferred charges and accrued income | 490/1 | - | €677 | +€677 | |
| Total equity and liabilities | 10/49 | €64,473 | €58,868 | -€5,606 | -8.7% |
| Equity | 10/15 | €23,437 | €19,912 | -€3,525 | -15.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,390 | €1,320 | -€2,071 | -61.1% |
| Distributable reserves | 133 | €3,390 | €1,320 | -€2,071 | -61.1% |
| Profit (loss) carried forward | 14 | €1,455 | - | -€1,455 | |
| Amounts payable | 17/49 | €41,036 | €38,956 | -€2,081 | -5.1% |
| Amounts payable within one year | 42/48 | €41,036 | €38,956 | -€2,081 | -5.1% |
| Trade debts | 44 | €1,375 | €939 | -€436 | -31.7% |
| Suppliers | 440/4 | €1,375 | €939 | -€436 | -31.7% |
| Taxes, remuneration and social security | 45 | €2,229 | - | -€2,229 | |
| Taxes | 450/3 | €2,229 | - | -€2,229 | |
| Other amounts payable | 47/48 | €37,433 | €38,017 | +€584 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,818 | €8,647 | -€3,172 | -26.8% |
| Gross operating margin | 9900 | €5,465 | €5,658 | +€193 | +3.5% |
| Operating profit (loss) | 9901 | -€6,353 | -€2,988 | +€3,364 | +53.0% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €81 | €465 | +€383 | +471% |
| Recurring financial charges | 65 | €81 | €465 | +€383 | +471% |
| Profit (loss) for the period before taxes | 9903 | -€6,434 | -€3,451 | +€2,983 | +46.4% |
| Income taxes | 67/77 | €164 | €74 | -€90 | -54.9% |
| Profit (loss) for the period | 9904 | -€6,599 | -€3,525 | +€3,073 | +46.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,599 | -€3,525 | +€3,073 | +46.6% |
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.