AR COMPANY: what changed
AR COMPANY
Largest movements
- Receivables within one year -€112,849
down €112,849 (-50.2%), from €224,864 to €112,016
of which Trade receivables: -€70,736
- Deferred charges and accrued income +€48,958
new in 2025: €48,958
- Tangible fixed assets -€43,166
down €43,166 (-34.5%), from €125,190 to €82,024
- Financial fixed assets +€11,000
up €11,000 (+20.4%), from €54,000 to €65,000
- Stocks and contracts -€6,635
no longer reported in 2025 (was €6,635)
- Profit (loss) carried forward -€79,432
down €79,432, from €78,772 to -€659
- Other debts -€19,982
down €19,982 (-64.2%), from €31,121 to €11,139
- Trade debts -€15,908
down €15,908 (-9.0%), from €177,423 to €161,515
- Tax, wage and social debts +€13,867
up €13,867 (+11.5%), from €120,819 to €134,686
of which Taxes: +€24,739
- Gross operating margin -€99,053
down €99,053 (-13.0%), from €760,804 to €661,751
- Financial charges -€16,317
down €16,317 (-90.7%), from €17,997 to €1,680
of which Non-recurring financial charges: -€15,895
- Depreciation +€8,727
up €8,727 (+22.1%), from €39,439 to €48,166
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €427,045 | €325,591 | -€101,454 | -23.8% |
| Fixed assets | 21/28 | €179,190 | €147,024 | -€32,166 | -18.0% |
| Tangible fixed assets | 22/27 | €125,190 | €82,024 | -€43,166 | -34.5% |
| Furniture and vehicles | 24 | €125,190 | €82,024 | -€43,166 | -34.5% |
| Financial fixed assets | 28 | €54,000 | €65,000 | +€11,000 | +20.4% |
| Current assets | 29/58 | €247,855 | €178,567 | -€69,288 | -28.0% |
| Stocks and contracts in progress | 3 | €6,635 | - | -€6,635 | |
| Stocks | 30/36 | €6,635 | - | -€6,635 | |
| Amounts receivable within one year | 40/41 | €224,864 | €112,016 | -€112,849 | -50.2% |
| Trade receivables | 40 | €179,307 | €108,571 | -€70,736 | -39.4% |
| Other amounts receivable | 41 | €45,557 | €3,445 | -€42,113 | -92.4% |
| Cash at bank and in hand | 54/58 | €16,356 | €17,592 | +€1,237 | +7.6% |
| Deferred charges and accrued income | 490/1 | - | €48,958 | +€48,958 | |
| Total equity and liabilities | 10/49 | €427,045 | €325,591 | -€101,454 | -23.8% |
| Equity | 10/15 | €97,682 | €18,251 | -€79,432 | -81.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €310 | €310 | = | 0.0% |
| Non-distributable reserves | 130/1 | €310 | €310 | = | 0.0% |
| Reserves not available under the articles | 1311 | €310 | €310 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,772 | -€659 | -€79,432 | |
| Amounts payable | 17/49 | €329,363 | €307,340 | -€22,023 | -6.7% |
| Amounts payable within one year | 42/48 | €329,363 | €307,340 | -€22,023 | -6.7% |
| Trade debts | 44 | €177,423 | €161,515 | -€15,908 | -9.0% |
| Suppliers | 440/4 | €177,423 | €161,515 | -€15,908 | -9.0% |
| Taxes, remuneration and social security | 45 | €120,819 | €134,686 | +€13,867 | +11.5% |
| Taxes | 450/3 | €34,401 | €59,140 | +€24,739 | +71.9% |
| Remuneration and social security | 454/9 | €86,418 | €75,547 | -€10,872 | -12.6% |
| Other amounts payable | 47/48 | €31,121 | €11,139 | -€19,982 | -64.2% |
| Remuneration, social security and pensions | 62 | €682,860 | €681,001 | -€1,860 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,439 | €48,166 | +€8,727 | +22.1% |
| Other operating charges | 640/8 | €5,963 | €3,806 | -€2,157 | -36.2% |
| Gross operating margin | 9900 | €760,804 | €661,751 | -€99,053 | -13.0% |
| Operating profit (loss) | 9901 | €32,542 | -€71,221 | -€103,763 | |
| Financial income | 75/76B | €0 | €3 | +€2 | +2,678% |
| Recurring financial income | 75 | €0 | €3 | +€2 | +2,678% |
| Non-recurring financial income | 76B | €0 | €3 | +€2 | +2,678% |
| Financial charges | 65/66B | €17,997 | €1,680 | -€16,317 | -90.7% |
| Recurring financial charges | 65 | €627 | €205 | -€423 | -67.4% |
| Non-recurring financial charges | 66B | €17,370 | €1,475 | -€15,895 | -91.5% |
| Profit (loss) for the period before taxes | 9903 | €14,544 | -€72,899 | -€87,443 | |
| Income taxes | 67/77 | €5,243 | €6,533 | +€1,290 | +24.6% |
| Profit (loss) for the period | 9904 | €9,301 | -€79,432 | -€88,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,301 | -€79,432 | -€88,733 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.