AR-BOR: 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.
AR-BOR
Largest movements
- Deferred charges and accrued income -€2,130
down €2,130 (-42.4%), from €5,028 to €2,898
- Receivables within one year +€700
up €700 (+27.5%), from €2,550 to €3,250
of which Trade receivables: +€700
- Profit (loss) carried forward -€6,040
down €6,040 (-4.9%), from -€124,358 to -€130,398
- Other debts +€4,179
up €4,179 (+7.5%), from €55,476 to €59,655
- Short-term financial debts +€1,307
up €1,307 (+6.8%), from €19,130 to €20,437
- Trade debts -€765
down €765 (-24.0%), from €3,193 to €2,428
- Tax, wage and social debts -€161
down €161 (-57.2%), from €281 to €120
of which Taxes: -€161
- Gross operating margin +€30,560
up €30,560 (+100.0%), from -€30,570 to -€10
- Financial charges +€529
up €529 (+14.5%), from €3,651 to €4,180
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 | €7,634 | €6,153 | -€1,481 | -19.4% |
| Fixed assets | 21/28 | €42 | €0 | -€42 | -100.0% |
| Tangible fixed assets | 22/27 | €42 | €0 | -€42 | -100.0% |
| Furniture and vehicles | 24 | €42 | €0 | -€42 | -100.0% |
| Current assets | 29/58 | €7,592 | €6,153 | -€1,439 | -18.9% |
| Amounts receivable within one year | 40/41 | €2,550 | €3,250 | +€700 | +27.5% |
| Trade receivables | 40 | €2,550 | €3,250 | +€700 | +27.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €13 | €5 | -€8 | -62.6% |
| Deferred charges and accrued income | 490/1 | €5,028 | €2,898 | -€2,130 | -42.4% |
| Total equity and liabilities | 10/49 | €7,634 | €6,153 | -€1,481 | -19.4% |
| Equity | 10/15 | -€70,447 | -€76,487 | -€6,040 | -8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,711 | €47,711 | = | 0.0% |
| Distributable reserves | 133 | €47,711 | €47,711 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,358 | -€130,398 | -€6,040 | -4.9% |
| Amounts payable | 17/49 | €78,081 | €82,640 | +€4,560 | +5.8% |
| Amounts payable within one year | 42/48 | €78,081 | €82,640 | +€4,560 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €19,130 | €20,437 | +€1,307 | +6.8% |
| Credit institutions | 430/8 | €19,130 | €20,437 | +€1,307 | +6.8% |
| Trade debts | 44 | €3,193 | €2,428 | -€765 | -24.0% |
| Suppliers | 440/4 | €3,193 | €2,428 | -€765 | -24.0% |
| Taxes, remuneration and social security | 45 | €281 | €120 | -€161 | -57.2% |
| Taxes | 450/3 | €281 | €120 | -€161 | -57.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €55,476 | €59,655 | +€4,179 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €241 | €42 | -€199 | -82.5% |
| Other operating charges | 640/8 | €1,404 | €1,402 | -€2 | -0.2% |
| Gross operating margin | 9900 | -€30,570 | -€10 | +€30,560 | +100.0% |
| Operating profit (loss) | 9901 | -€32,215 | -€1,454 | +€30,761 | +95.5% |
| Financial charges | 65/66B | €3,651 | €4,180 | +€529 | +14.5% |
| Recurring financial charges | 65 | €3,651 | €4,180 | +€529 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€35,866 | -€5,634 | +€30,232 | +84.3% |
| Income taxes | 67/77 | €259 | €406 | +€147 | +56.9% |
| Profit (loss) for the period | 9904 | -€36,125 | -€6,040 | +€30,085 | +83.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,125 | -€6,040 | +€30,085 | +83.3% |
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 8 October 2026 via checked.be.