A.R.W.: 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.
What changed
A.R.W.
NACE 46.160, Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2025 · €378,379+€692,834
Equity
€4.9m
2025 · €4.2m+€671,621
Cash
€327,456
2025 · €122,067+€205,389
Balance sheet total
€8.6m
2025 · €6.5m+€2.1m
Largest movements
Assets
- Receivables within one year +€1.5m
up €1.5m (+64.0%), from €2.3m to €3.8m
of which Trade receivables: +€1.4m
- Stocks and contracts +€353,893
up €353,893 (+9.8%), from €3.6m to €4.0m
- Cash +€205,389
up €205,389 (+168%), from €122,067 to €327,456
mainly Trade debts (+€1.2m) and Net result for the year (+€1.1m)
- Tangible fixed assets +€135,791
up €135,791 (+38.1%), from €356,581 to €492,372
of which Assets under construction and advance payments: +€183,078
Equity and liabilities
- Trade debts +€1.2m
up €1.2m (+125%), from €957,571 to €2.2m
- Profit (loss) carried forward +€671,621
up €671,621 (+18.2%), from €3.7m to €4.4m
- Other debts +€199,591
up €199,591 (+99.8%), from €200,000 to €399,591
Income statement
- Turnover +€3.4m
up €3.4m (+9.8%), from €34.7m to €38.1m
- Goods and materials +€2.3m
up €2.3m (+8.3%), from €28.2m to €30.5m
of which Purchases: +€2.8m
From the 2025 result to the 2026 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.
Result 2025
€378,379
Turnover
+€3.4m
Other operating income
+€22,733
Goods and materials
-€2.3m
Services and other goods
-€335,261
Staff costs
+€91,723
Depreciation
+€8,403
Write-downs
+€11,728
Other operating charges
+€26,874
Financial income
+€4,066
Financial charges
+€32,348
Taxes
-€234,603
Result 2026
€1.1m
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€896,904
Investment
-€266,065
Financing
-€425,450
Cash 2025
€122,067
From operations (derived)
+€896,904
Net result for the year
+€1.1m
Depreciation
+€130,274
Stocks and contracts
-€353,893
Receivables within one year
-€1.5m
Deferred charges and accrued income
+€29,645
Trade debts
+€1.2m
Tax, wage and social debts
+€5,697
Other debts
+€199,591
Accrued charges and deferred income
+€80,415
Investment (derived)
-€266,065
Investment in fixed assets (net)
-€266,065
Financing
-€425,450
Debts after one year
-€25,556
Current portion of long-term debt
-€303
Contributions, distributions and other
-€399,591
Cash 2026
€327,456
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,517,030 | €8,648,526 | +€2.1m | +32.7% |
| Fixed assets | 21/28 | €360,066 | €495,856 | +€135,791 | +37.7% |
| Tangible fixed assets | 22/27 | €356,581 | €492,372 | +€135,791 | +38.1% |
| Plant, machinery and equipment | 23 | €89,518 | €58,416 | -€31,102 | -34.7% |
| Furniture and vehicles | 24 | €77,743 | €114,516 | +€36,773 | +47.3% |
| Other tangible fixed assets | 26 | €189,320 | €136,362 | -€52,958 | -28.0% |
| Assets under construction and advance payments | 27 | - | €183,078 | +€183,078 | |
| Financial fixed assets | 28 | €3,485 | €3,485 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,485 | €3,485 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,485 | €3,485 | = | 0.0% |
| Current assets | 29/58 | €6,156,964 | €8,152,670 | +€2.0m | +32.4% |
| Stocks and contracts in progress | 3 | €3,605,083 | €3,958,976 | +€353,893 | +9.8% |
| Stocks | 30/36 | €3,605,083 | €3,958,976 | +€353,893 | +9.8% |
| Goods purchased for resale | 34 | €3,605,083 | €3,958,976 | +€353,893 | +9.8% |
| Amounts receivable within one year | 40/41 | €2,292,027 | €3,758,095 | +€1.5m | +64.0% |
| Trade receivables | 40 | €1,691,912 | €3,133,095 | +€1.4m | +85.2% |
| Other amounts receivable | 41 | €600,114 | €625,000 | +€24,886 | +4.1% |
| Cash at bank and in hand | 54/58 | €122,067 | €327,456 | +€205,389 | +168% |
| Deferred charges and accrued income | 490/1 | €137,788 | €108,142 | -€29,645 | -21.5% |
| Total equity and liabilities | 10/49 | €6,517,030 | €8,648,526 | +€2.1m | +32.7% |
| Equity | 10/15 | €4,178,379 | €4,850,000 | +€671,621 | +16.1% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €111,552 | €111,552 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Distributable reserves | 133 | €74,368 | €74,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,694,986 | €4,366,608 | +€671,621 | +18.2% |
| Amounts payable | 17/49 | €2,338,651 | €3,798,526 | +€1.5m | +62.4% |
| Amounts payable after more than one year | 17 | €302,933 | €277,377 | -€25,556 | -8.4% |
| Financial debts | 170/4 | €302,933 | €277,377 | -€25,556 | -8.4% |
| Credit institutions | 173 | €302,933 | €277,377 | -€25,556 | -8.4% |
| Amounts payable within one year | 42/48 | €1,880,227 | €3,285,242 | +€1.4m | +74.7% |
| Current portion of amounts payable after more than one year | 42 | €114,306 | €114,003 | -€303 | -0.3% |
| Trade debts | 44 | €957,571 | €2,157,601 | +€1.2m | +125% |
| Suppliers | 440/4 | €957,571 | €2,157,601 | +€1.2m | +125% |
| Taxes, remuneration and social security | 45 | €608,350 | €614,047 | +€5,697 | +0.9% |
| Taxes | 450/3 | €339,415 | €360,735 | +€21,320 | +6.3% |
| Remuneration and social security | 454/9 | €268,935 | €253,312 | -€15,623 | -5.8% |
| Other amounts payable | 47/48 | €200,000 | €399,591 | +€199,591 | +99.8% |
| Accrued charges and deferred income | 492/3 | €155,491 | €235,906 | +€80,415 | +51.7% |
| Operating income | 70/76A | €35,570,166 | €38,989,498 | +€3.4m | +9.6% |
| Turnover | 70 | €34,701,480 | €38,098,078 | +€3.4m | +9.8% |
| Other operating income | 74 | €868,687 | €891,420 | +€22,733 | +2.6% |
| Operating charges | 60/66A | €34,856,614 | €37,384,922 | +€2.5m | +7.3% |
| Goods for resale, raw materials and consumables | 60 | €28,206,383 | €30,538,158 | +€2.3m | +8.3% |
| Purchases | 600/8 | €28,127,985 | €30,892,050 | +€2.8m | +9.8% |
| Change in stocks: decrease (increase) | 609 | €78,398 | -€353,893 | -€432,291 | |
| Services and other goods | 61 | €3,878,359 | €4,213,620 | +€335,261 | +8.6% |
| Remuneration, social security and pensions | 62 | €2,352,678 | €2,260,956 | -€91,723 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,677 | €130,274 | -€8,403 | -6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,768 | €16,040 | -€11,728 | -42.2% |
| Other operating charges | 640/8 | €252,749 | €225,875 | -€26,874 | -10.6% |
| Operating profit (loss) | 9901 | €713,553 | €1,604,576 | +€891,023 | +125% |
| Financial income | 75/76B | €8,060 | €12,126 | +€4,066 | +50.4% |
| Recurring financial income | 75 | €8,060 | €12,126 | +€4,066 | +50.4% |
| Income from current assets | 751 | €8,060 | €12,126 | +€4,066 | +50.4% |
| Financial charges | 65/66B | €191,634 | €159,286 | -€32,348 | -16.9% |
| Recurring financial charges | 65 | €191,634 | €159,286 | -€32,348 | -16.9% |
| Debt charges | 650 | €164,095 | €126,966 | -€37,130 | -22.6% |
| Other financial charges | 652/9 | €27,539 | €32,321 | +€4,781 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €529,979 | €1,457,416 | +€927,437 | +175% |
| Income taxes | 67/77 | €151,600 | €386,203 | +€234,603 | +155% |
| Taxes | 670/3 | €151,600 | €386,220 | +€234,620 | +155% |
| Tax adjustments and reversals of tax provisions | 77 | - | €17 | +€17 | |
| Profit (loss) for the period | 9904 | €378,379 | €1,071,213 | +€692,834 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €378,379 | €1,071,213 | +€692,834 | +183% |
Source: filed annual accounts (NBB), financial years ended 31 May 2025 and 31 May 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.