A.R.S - GROUP: 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 - GROUP
Largest movements
- Cash +€47,489
up €47,489 (+21.9%), from €216,863 to €264,352
mainly Depreciation (+€50,759) and Trade debts (+€48,157)
- Trade debts +€48,157
up €48,157 (+62.6%), from €76,968 to €125,125
- Other debts +€45,000
up €45,000 (+25,568%), from €176 to €45,176
- Debts after one year -€38,635
down €38,635 (-14.2%), from €271,985 to €233,350
- Tax, wage and social debts -€15,546
down €15,546 (-48.0%), from €32,403 to €16,857
of which Taxes: -€19,044
- Depreciation -€7,361
down €7,361 (-12.7%), from €58,120 to €50,759
- Financial charges -€4,364
down €4,364 (-25.1%), from €17,416 to €13,052
of which Non-recurring financial charges: -€3,264
- Taxes +€3,902
up €3,902 (+570%), from €684 to €4,586
- Gross operating margin +€2,663
up €2,663 (+2.5%), from €107,081 to €109,744
- Staff costs +€2,252
up €2,252 (+8.8%), from €25,462 to €27,714
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 | €1,025,266 | €1,071,472 | +€46,206 | +4.5% |
| Fixed assets | 21/28 | €632,495 | €626,762 | -€5,733 | -0.9% |
| Tangible fixed assets | 22/27 | €631,713 | €625,980 | -€5,733 | -0.9% |
| Land and buildings | 22 | €355,675 | €340,127 | -€15,548 | -4.4% |
| Plant, machinery and equipment | 23 | €247,202 | €252,871 | +€5,669 | +2.3% |
| Furniture and vehicles | 24 | €19,666 | €24,956 | +€5,290 | +26.9% |
| Other tangible fixed assets | 26 | €9,170 | €8,026 | -€1,144 | -12.5% |
| Financial fixed assets | 28 | €782 | €782 | = | 0.0% |
| Current assets | 29/58 | €392,771 | €444,710 | +€51,939 | +13.2% |
| Stocks and contracts in progress | 3 | €142,303 | €146,335 | +€4,032 | +2.8% |
| Stocks | 30/36 | €142,303 | €146,335 | +€4,032 | +2.8% |
| Amounts receivable within one year | 40/41 | €32,267 | €31,676 | -€591 | -1.8% |
| Trade receivables | 40 | €20,358 | €14,974 | -€5,384 | -26.4% |
| Other amounts receivable | 41 | €11,909 | €16,702 | +€4,793 | +40.2% |
| Cash at bank and in hand | 54/58 | €216,863 | €264,352 | +€47,489 | +21.9% |
| Deferred charges and accrued income | 490/1 | €1,338 | €2,347 | +€1,009 | +75.4% |
| Total equity and liabilities | 10/49 | €1,025,266 | €1,071,472 | +€46,206 | +4.5% |
| Equity | 10/15 | €606,062 | €612,328 | +€6,266 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,338 | €127,604 | +€6,266 | +5.2% |
| Distributable reserves | 133 | €121,338 | €127,604 | +€6,266 | +5.2% |
| Profit (loss) carried forward | 14 | €466,124 | €466,124 | = | 0.0% |
| Amounts payable | 17/49 | €419,204 | €459,144 | +€39,940 | +9.5% |
| Amounts payable after more than one year | 17 | €271,985 | €233,350 | -€38,635 | -14.2% |
| Financial debts | 170/4 | €271,985 | €233,350 | -€38,635 | -14.2% |
| Amounts payable within one year | 42/48 | €146,789 | €225,794 | +€79,005 | +53.8% |
| Current portion of amounts payable after more than one year | 42 | €37,242 | €38,636 | +€1,394 | +3.7% |
| Trade debts | 44 | €76,968 | €125,125 | +€48,157 | +62.6% |
| Suppliers | 440/4 | €76,968 | €125,125 | +€48,157 | +62.6% |
| Taxes, remuneration and social security | 45 | €32,403 | €16,857 | -€15,546 | -48.0% |
| Taxes | 450/3 | €26,286 | €7,242 | -€19,044 | -72.4% |
| Remuneration and social security | 454/9 | €6,117 | €9,615 | +€3,498 | +57.2% |
| Other amounts payable | 47/48 | €176 | €45,176 | +€45,000 | +25,568% |
| Accrued charges and deferred income | 492/3 | €430 | - | -€430 | |
| Remuneration, social security and pensions | 62 | €25,462 | €27,714 | +€2,252 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,120 | €50,759 | -€7,361 | -12.7% |
| Other operating charges | 640/8 | €7,315 | €7,387 | +€72 | +1.0% |
| Gross operating margin | 9900 | €107,081 | €109,744 | +€2,663 | +2.5% |
| Operating profit (loss) | 9901 | €16,184 | €23,884 | +€7,700 | +47.6% |
| Financial income | 75/76B | €60 | €20 | -€40 | -66.7% |
| Recurring financial income | 75 | €60 | €20 | -€40 | -66.7% |
| Financial charges | 65/66B | €17,416 | €13,052 | -€4,364 | -25.1% |
| Recurring financial charges | 65 | €14,152 | €13,052 | -€1,100 | -7.8% |
| Non-recurring financial charges | 66B | €3,264 | - | -€3,264 | |
| Profit (loss) for the period before taxes | 9903 | -€1,172 | €10,852 | +€12,024 | |
| Income taxes | 67/77 | €684 | €4,586 | +€3,902 | +570% |
| Profit (loss) for the period | 9904 | -€1,856 | €6,266 | +€8,122 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,856 | €6,266 | +€8,122 |
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 31 October 2026 via checked.be.