AR&JO: 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&JO
Largest movements
- Cash +€5,296
up €5,296 (+4.8%), from €111,478 to €116,774
mainly Other debts (+€56,643) and Net result for the year (+€55,106)
- Tangible fixed assets +€1,937
up €1,937 (+30.2%), from €6,424 to €8,362
- Stocks and contracts +€1,700
new in 2025: €1,700
- Other debts +€56,643
up €56,643 (+11620.9%), from €487 to €57,130
- Profit (loss) carried forward -€45,000
no longer reported in 2025 (was €45,000)
- Tax, wage and social debts -€2,173
down €2,173 (-26.0%), from €8,356 to €6,183
- Gross operating margin -€3,410
down €3,410 (-4.1%), from €83,365 to €79,956
- Taxes -€2,071
down €2,071 (-8.7%), from €23,819 to €21,748
- Depreciation +€916
up €916 (+90.6%), from €1,011 to €1,927
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 | €132,257 | €141,605 | +€9,348 | +7.1% |
| Fixed assets | 21/28 | €6,424 | €8,362 | +€1,937 | +30.2% |
| Tangible fixed assets | 22/27 | €6,424 | €8,362 | +€1,937 | +30.2% |
| Plant, machinery and equipment | 23 | €6,424 | €8,362 | +€1,937 | +30.2% |
| Current assets | 29/58 | €125,833 | €133,244 | +€7,411 | +5.9% |
| Stocks and contracts in progress | 3 | - | €1,700 | +€1,700 | |
| Stocks | 30/36 | - | €1,700 | +€1,700 | |
| Amounts receivable within one year | 40/41 | €14,269 | €14,163 | -€106 | -0.7% |
| Trade receivables | 40 | €8,034 | €10,911 | +€2,877 | +35.8% |
| Other amounts receivable | 41 | €6,235 | €3,252 | -€2,983 | -47.8% |
| Cash at bank and in hand | 54/58 | €111,478 | €116,774 | +€5,296 | +4.8% |
| Deferred charges and accrued income | 490/1 | €86 | €606 | +€521 | +606.7% |
| Total equity and liabilities | 10/49 | €132,257 | €141,605 | +€9,348 | +7.1% |
| Equity | 10/15 | €112,329 | €67,329 | -€45,000 | -40.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €62,329 | €62,329 | = | 0.0% |
| Distributable reserves | 133 | €62,329 | €62,329 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,000 | - | -€45,000 | |
| Amounts payable | 17/49 | €19,928 | €74,276 | +€54,348 | +272.7% |
| Amounts payable within one year | 42/48 | €19,928 | €74,276 | +€54,348 | +272.7% |
| Current portion of amounts payable after more than one year | 42 | €8,546 | €8,494 | -€51 | -0.6% |
| Trade debts | 44 | €2,539 | €2,469 | -€70 | -2.8% |
| Suppliers | 440/4 | €2,539 | €2,469 | -€70 | -2.8% |
| Taxes, remuneration and social security | 45 | €8,356 | €6,183 | -€2,173 | -26.0% |
| Taxes | 450/3 | €8,356 | €6,183 | -€2,173 | -26.0% |
| Other amounts payable | 47/48 | €487 | €57,130 | +€56,643 | +11620.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,011 | €1,927 | +€916 | +90.6% |
| Other operating charges | 640/8 | - | €543 | +€543 | |
| Gross operating margin | 9900 | €83,365 | €79,956 | -€3,410 | -4.1% |
| Operating profit (loss) | 9901 | €82,355 | €77,486 | -€4,869 | -5.9% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €888 | €642 | -€246 | -27.7% |
| Recurring financial charges | 65 | €888 | €642 | -€246 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €81,466 | €76,854 | -€4,613 | -5.7% |
| Income taxes | 67/77 | €23,819 | €21,748 | -€2,071 | -8.7% |
| Profit (loss) for the period | 9904 | €57,647 | €55,106 | -€2,541 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,647 | €55,106 | -€2,541 | -4.4% |
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 9 October 2026 via checked.be.