AR.CO: 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.CO
Largest movements
- Cash +€21,810
up €21,810 (+51.7%), from €42,171 to €63,981
mainly Net result for the year (+€23,431) and Trade debts (+€1,598)
- Receivables within one year +€1,583
new in 2025: €1,583
- Reserves +€23,431
up €23,431 (+89.9%), from €26,050 to €49,481
- Tax, wage and social debts -€1,885
down €1,885 (-14.6%), from €12,899 to €11,014
- Trade debts +€1,598
up €1,598 (+188.9%), from €846 to €2,443
- Gross operating margin -€2,607
down €2,607 (-8.0%), from €32,664 to €30,057
- Taxes -€606
down €606 (-9.2%), from €6,564 to €5,959
- Depreciation +€416
up €416 (+10590.1%), from €4 to €420
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 | €43,427 | €66,576 | +€23,149 | +53.3% |
| Fixed assets | 21/28 | €1,256 | €836 | -€420 | -33.4% |
| Tangible fixed assets | 22/27 | €1,256 | €836 | -€420 | -33.4% |
| Plant, machinery and equipment | 23 | €1,256 | €836 | -€420 | -33.4% |
| Current assets | 29/58 | €42,171 | €65,739 | +€23,569 | +55.9% |
| Amounts receivable within one year | 40/41 | - | €1,583 | +€1,583 | |
| Trade receivables | 40 | - | €1,583 | +€1,583 | |
| Cash at bank and in hand | 54/58 | €42,171 | €63,981 | +€21,810 | +51.7% |
| Deferred charges and accrued income | 490/1 | - | €176 | +€176 | |
| Total equity and liabilities | 10/49 | €43,427 | €66,576 | +€23,149 | +53.3% |
| Equity | 10/15 | €29,050 | €52,481 | +€23,431 | +80.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,050 | €49,481 | +€23,431 | +89.9% |
| Distributable reserves | 133 | €26,050 | €49,481 | +€23,431 | +89.9% |
| Amounts payable | 17/49 | €14,377 | €14,095 | -€282 | -2.0% |
| Amounts payable within one year | 42/48 | €14,377 | €14,095 | -€282 | -2.0% |
| Trade debts | 44 | €846 | €2,443 | +€1,598 | +188.9% |
| Suppliers | 440/4 | €846 | €2,443 | +€1,598 | +188.9% |
| Taxes, remuneration and social security | 45 | €12,899 | €11,014 | -€1,885 | -14.6% |
| Taxes | 450/3 | €12,899 | €11,014 | -€1,885 | -14.6% |
| Other amounts payable | 47/48 | €633 | €638 | +€5 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4 | €420 | +€416 | +10590.1% |
| Other operating charges | 640/8 | - | €186 | +€186 | |
| Gross operating margin | 9900 | €32,664 | €30,057 | -€2,607 | -8.0% |
| Operating profit (loss) | 9901 | €32,660 | €29,451 | -€3,209 | -9.8% |
| Financial charges | 65/66B | €46 | €62 | +€16 | +34.7% |
| Recurring financial charges | 65 | €46 | €62 | +€16 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €32,614 | €29,389 | -€3,225 | -9.9% |
| Income taxes | 67/77 | €6,564 | €5,959 | -€606 | -9.2% |
| Profit (loss) for the period | 9904 | €26,050 | €23,431 | -€2,619 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,050 | €23,431 | -€2,619 | -10.1% |
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.