A-RHYTHMIC: what changed
Two fiscal 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-RHYTHMIC
Largest movements
- Cash -€464,028
down €464,028 (-75.7%), from €613,046 to €149,018
mainly Current investments (-€200,000) and Contributions, distributions and other (-€199,212)
- Current investments +€200,000
up €200,000 (+40.0%), from €500,000 to €700,000
- Receivables within one year +€196,725
up €196,725 (+252.8%), from €77,831 to €274,556
of which Other amounts receivable: +€261,725
- Deferred charges and accrued income +€111,295
up €111,295 (+1573.9%), from €7,071 to €118,366
- Tangible fixed assets -€24,887
down €24,887 (-3.2%), from €777,095 to €752,207
of which Land and buildings: -€14,460
- Reserves +€239,331
up €239,331 (+16.0%), from €1.5m to €1.7m
of which Distributable reserves: +€239,331
- Provisions -€174,325
down €174,325 (-100.0%), from €174,325 to €0
- Debts after one year -€36,668
down €36,668 (-21.0%), from €174,592 to €137,924
- Provisions -€174,325
down €174,325 (-100.0%), from €174,325 to €0
- Financial charges +€163,035
up €163,035 (+854.9%), from €19,071 to €182,106
of which Non-recurring financial charges: +€166,711
- Taxes +€52,313
up €52,313 (+34.1%), from €153,262 to €205,575
- Gross operating margin -€17,579
down €17,579 (-2.3%), from €757,716 to €740,137
- Depreciation +€8,581
up €8,581 (+13.7%), from €62,460 to €71,041
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.
Cash bridge derived
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 | €2,153,127 | €2,170,689 | +€17,562 | +0.8% |
| Fixed assets | 21/28 | €780,178 | €753,749 | -€26,429 | -3.4% |
| Intangible fixed assets | 21 | €3,084 | €1,542 | -€1,542 | -50.0% |
| Tangible fixed assets | 22/27 | €777,095 | €752,207 | -€24,887 | -3.2% |
| Land and buildings | 22 | €601,293 | €586,834 | -€14,460 | -2.4% |
| Plant, machinery and equipment | 23 | €34,932 | €30,874 | -€4,058 | -11.6% |
| Furniture and vehicles | 24 | €140,869 | €134,500 | -€6,369 | -4.5% |
| Current assets | 29/58 | €1,372,949 | €1,416,940 | +€43,991 | +3.2% |
| Amounts receivable after more than one year | 29 | €175,000 | €175,000 | = | 0.0% |
| Other amounts receivable | 291 | €175,000 | €175,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €77,831 | €274,556 | +€196,725 | +252.8% |
| Trade receivables | 40 | €65,000 | €0 | -€65,000 | -100.0% |
| Other amounts receivable | 41 | €12,831 | €274,556 | +€261,725 | +2039.7% |
| Current investments | 50/53 | €500,000 | €700,000 | +€200,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €613,046 | €149,018 | -€464,028 | -75.7% |
| Deferred charges and accrued income | 490/1 | €7,071 | €118,366 | +€111,295 | +1573.9% |
| Total equity and liabilities | 10/49 | €2,153,127 | €2,170,689 | +€17,562 | +0.8% |
| Equity | 10/15 | €1,683,880 | €1,923,211 | +€239,331 | +14.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,497,304 | €1,736,635 | +€239,331 | +16.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,478,554 | €1,717,885 | +€239,331 | +16.2% |
| Profit (loss) carried forward | 14 | €174,176 | €174,176 | = | 0.0% |
| Provisions and deferred taxes | 16 | €174,325 | €0 | -€174,325 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €174,325 | €0 | -€174,325 | -100.0% |
| Other liabilities and charges | 164/5 | €174,325 | €0 | -€174,325 | -100.0% |
| Amounts payable | 17/49 | €294,922 | €247,478 | -€47,444 | -16.1% |
| Amounts payable after more than one year | 17 | €174,592 | €137,924 | -€36,668 | -21.0% |
| Financial debts | 170/4 | €174,592 | €137,924 | -€36,668 | -21.0% |
| Amounts payable within one year | 42/48 | €120,330 | €109,554 | -€10,776 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €39,456 | €36,668 | -€2,789 | -7.1% |
| Trade debts | 44 | €5,189 | €6,057 | +€868 | +16.7% |
| Suppliers | 440/4 | €5,189 | €6,057 | +€868 | +16.7% |
| Taxes, remuneration and social security | 45 | €75,685 | €66,830 | -€8,856 | -11.7% |
| Taxes | 450/3 | €68,661 | €57,573 | -€11,088 | -16.1% |
| Remuneration and social security | 454/9 | €7,025 | €9,257 | +€2,232 | +31.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €34,904 | €38,023 | +€3,119 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,460 | €71,041 | +€8,581 | +13.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €174,325 | €0 | -€174,325 | -100.0% |
| Other operating charges | 640/8 | €8,506 | €8,659 | +€153 | +1.8% |
| Non-recurring operating charges | 66A | €2,500 | -€174,325 | -€176,825 | |
| Gross operating margin | 9900 | €757,716 | €740,137 | -€17,579 | -2.3% |
| Operating profit (loss) | 9901 | €475,021 | €796,740 | +€321,719 | +67.7% |
| Financial income | 75/76B | €27,938 | €29,484 | +€1,546 | +5.5% |
| Recurring financial income | 75 | €27,938 | €29,484 | +€1,546 | +5.5% |
| Financial charges | 65/66B | €19,071 | €182,106 | +€163,035 | +854.9% |
| Recurring financial charges | 65 | €11,456 | €7,780 | -€3,676 | -32.1% |
| Non-recurring financial charges | 66B | €7,614 | €174,325 | +€166,711 | +2189.5% |
| Profit (loss) for the period before taxes | 9903 | €483,888 | €644,118 | +€160,230 | +33.1% |
| Income taxes | 67/77 | €153,262 | €205,575 | +€52,313 | +34.1% |
| Profit (loss) for the period | 9904 | €330,626 | €438,543 | +€107,917 | +32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €330,626 | €438,543 | +€107,917 | +32.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.