AR&B: 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.
AR&B
Largest movements
- Stocks and contracts +€199,160
up €199,160 (+62.1%), from €320,632 to €519,792
- Cash -€196,132
down €196,132 (-94.6%), from €207,356 to €11,225
mainly Stocks and contracts (-€199,160) and Receivables within one year (-€15,097)
- Receivables within one year +€15,097
up €15,097 (+6.8%), from €222,556 to €237,653
of which Trade receivables: +€34,570
- Tangible fixed assets -€10,025
down €10,025 (-24.1%), from €41,609 to €31,584
of which Furniture and vehicles: -€9,061
- Trade debts +€15,034
up €15,034 (+45.1%), from €33,341 to €48,375
- Gross operating margin +€146,714
up €146,714, from -€67,734 to €78,980
- Write-downs +€77,193
new in 2025: €77,193
- Taxes -€12,316
down €12,316 (-100%), from €12,316 to €0
- Financial income +€4,118
up €4,118 (+132%), from €3,120 to €7,238
- Financial charges -€2,769
down €2,769 (-73.5%), from €3,769 to €1,000
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 | €901,409 | €907,810 | +€6,401 | +0.7% |
| Fixed assets | 21/28 | €41,609 | €31,584 | -€10,025 | -24.1% |
| Tangible fixed assets | 22/27 | €41,609 | €31,584 | -€10,025 | -24.1% |
| Plant, machinery and equipment | 23 | €6,842 | €5,878 | -€965 | -14.1% |
| Furniture and vehicles | 24 | €34,767 | €25,706 | -€9,061 | -26.1% |
| Current assets | 29/58 | €859,800 | €876,227 | +€16,427 | +1.9% |
| Stocks and contracts in progress | 3 | €320,632 | €519,792 | +€199,160 | +62.1% |
| Stocks | 30/36 | €320,632 | €519,792 | +€199,160 | +62.1% |
| Amounts receivable within one year | 40/41 | €222,556 | €237,653 | +€15,097 | +6.8% |
| Trade receivables | 40 | €76,982 | €111,551 | +€34,570 | +44.9% |
| Other amounts receivable | 41 | €145,575 | €126,102 | -€19,473 | -13.4% |
| Current investments | 50/53 | €100,710 | €100,710 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €207,356 | €11,225 | -€196,132 | -94.6% |
| Deferred charges and accrued income | 490/1 | €8,546 | €6,848 | -€1,699 | -19.9% |
| Total equity and liabilities | 10/49 | €901,409 | €907,810 | +€6,401 | +0.7% |
| Equity | 10/15 | €859,233 | €851,624 | -€7,609 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €840,633 | €833,024 | -€7,609 | -0.9% |
| Non-distributable reserves | 130/1 | €700 | €700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €700 | €700 | = | 0.0% |
| Distributable reserves | 133 | €839,933 | €832,325 | -€7,609 | -0.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €42,176 | €56,186 | +€14,010 | +33.2% |
| Amounts payable within one year | 42/48 | €42,176 | €56,186 | +€14,010 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €0 | -€6,000 | -100% |
| Trade debts | 44 | €33,341 | €48,375 | +€15,034 | +45.1% |
| Suppliers | 440/4 | €33,341 | €48,375 | +€15,034 | +45.1% |
| Taxes, remuneration and social security | 45 | €2,835 | €7,811 | +€4,976 | +176% |
| Taxes | 450/3 | €2,835 | €7,811 | +€4,976 | +176% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €6,655 | €0 | -€6,655 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,507 | €13,619 | +€2,112 | +18.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €77,193 | +€77,193 | |
| Other operating charges | 640/8 | €1,351 | €2,015 | +€664 | +49.1% |
| Non-recurring operating charges | 66A | €1,377 | €0 | -€1,377 | -100% |
| Gross operating margin | 9900 | -€67,734 | €78,980 | +€146,714 | |
| Operating profit (loss) | 9901 | -€81,969 | -€13,847 | +€68,123 | +83.1% |
| Financial income | 75/76B | €3,120 | €7,238 | +€4,118 | +132% |
| Recurring financial income | 75 | €3,120 | €7,238 | +€4,118 | +132% |
| Financial charges | 65/66B | €3,769 | €1,000 | -€2,769 | -73.5% |
| Recurring financial charges | 65 | €3,769 | €1,000 | -€2,769 | -73.5% |
| Profit (loss) for the period before taxes | 9903 | -€82,618 | -€7,609 | +€75,009 | +90.8% |
| Income taxes | 67/77 | €12,316 | €0 | -€12,316 | -100% |
| Profit (loss) for the period | 9904 | -€94,934 | -€7,609 | +€87,325 | +92.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€94,934 | -€7,609 | +€87,325 | +92.0% |
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 13 October 2026 via checked.be.