AR INVEST: 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 INVEST
Largest movements
- Stocks and contracts -€98,285
down €98,285 (-24.7%), from €398,666 to €300,380
- Cash -€87,034
down €87,034 (-100.0%), from €87,056 to €22
mainly Debts after one year (-€107,528) and Receivables within one year (-€68,952)
- Receivables within one year +€68,952
up €68,952 (+3,011%), from €2,290 to €71,242
of which Trade receivables: +€56,885
- Debts after one year -€107,528
down €107,528 (-25.6%), from €420,386 to €312,858
- Profit (loss) carried forward -€8,075
down €8,075 (-39.2%), from -€20,596 to -€28,671
- Gross operating margin +€18,735
up €18,735 (+1,411%), from €1,327 to €20,063
- Financial charges +€13,863
up €13,863 (+101%), from €13,736 to €27,598
- Other operating charges -€255
down €255 (-45.8%), from €557 to €302
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €489,005 | €372,400 | -€116,604 | -23.8% |
| Fixed assets | 21/28 | €993 | €756 | -€238 | -23.9% |
| Tangible fixed assets | 22/27 | €993 | €756 | -€238 | -23.9% |
| Plant, machinery and equipment | 23 | €993 | €756 | -€238 | -23.9% |
| Current assets | 29/58 | €488,011 | €371,644 | -€116,367 | -23.8% |
| Stocks and contracts in progress | 3 | €398,666 | €300,380 | -€98,285 | -24.7% |
| Stocks | 30/36 | €398,666 | €300,380 | -€98,285 | -24.7% |
| Amounts receivable within one year | 40/41 | €2,290 | €71,242 | +€68,952 | +3,011% |
| Trade receivables | 40 | - | €56,885 | +€56,885 | |
| Other amounts receivable | 41 | €2,290 | €14,357 | +€12,067 | +527% |
| Cash at bank and in hand | 54/58 | €87,056 | €22 | -€87,034 | -100.0% |
| Total equity and liabilities | 10/49 | €489,005 | €372,400 | -€116,604 | -23.8% |
| Equity | 10/15 | -€14,596 | -€22,671 | -€8,075 | -55.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,596 | -€28,671 | -€8,075 | -39.2% |
| Amounts payable | 17/49 | €503,600 | €395,071 | -€108,529 | -21.6% |
| Amounts payable after more than one year | 17 | €420,386 | €312,858 | -€107,528 | -25.6% |
| Financial debts | 170/4 | €420,386 | €312,858 | -€107,528 | -25.6% |
| Amounts payable within one year | 42/48 | €81,477 | €79,585 | -€1,892 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €11,141 | €12,642 | +€1,502 | +13.5% |
| Trade debts | 44 | €975 | €1,660 | +€685 | +70.3% |
| Suppliers | 440/4 | €975 | €1,660 | +€685 | +70.3% |
| Taxes, remuneration and social security | 45 | €1,269 | - | -€1,269 | |
| Taxes | 450/3 | €1,269 | - | -€1,269 | |
| Other amounts payable | 47/48 | €68,092 | €65,282 | -€2,810 | -4.1% |
| Accrued charges and deferred income | 492/3 | €1,737 | €2,628 | +€891 | +51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195 | €238 | +€43 | +22.1% |
| Other operating charges | 640/8 | €557 | €302 | -€255 | -45.8% |
| Gross operating margin | 9900 | €1,327 | €20,063 | +€18,735 | +1,411% |
| Operating profit (loss) | 9901 | €576 | €19,523 | +€18,947 | +3,291% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €13,736 | €27,598 | +€13,863 | +101% |
| Recurring financial charges | 65 | €13,736 | €27,598 | +€13,863 | +101% |
| Profit (loss) for the period before taxes | 9903 | -€13,160 | -€8,075 | +€5,085 | +38.6% |
| Profit (loss) for the period | 9904 | -€13,160 | -€8,075 | +€5,085 | +38.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,160 | -€8,075 | +€5,085 | +38.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.