AR Partnership: 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 Partnership
Largest movements
- Tangible fixed assets -€11,705
down €11,705 (-3.7%), from €316,419 to €304,714
- Receivables within one year +€4,613
up €4,613 (+275.0%), from €1,678 to €6,291
- Debts after one year -€8,937
down €8,937 (-3.1%), from €286,355 to €277,418
- Trade debts -€4,076
down €4,076 (-11.5%), from €35,366 to €31,290
- Depreciation -€12,147
down €12,147 (-48.3%), from €25,173 to €13,026
- Financial charges -€346
down €346 (-2.3%), from €14,769 to €14,423
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 | €327,070 | €317,743 | -€9,326 | -2.9% |
| Formation expenses | 20 | €2,197 | €1,508 | -€689 | -31.4% |
| Fixed assets | 21/28 | €316,419 | €304,714 | -€11,705 | -3.7% |
| Tangible fixed assets | 22/27 | €316,419 | €304,714 | -€11,705 | -3.7% |
| Land and buildings | 22 | €316,419 | €304,714 | -€11,705 | -3.7% |
| Current assets | 29/58 | €8,453 | €11,521 | +€3,068 | +36.3% |
| Amounts receivable within one year | 40/41 | €1,678 | €6,291 | +€4,613 | +275.0% |
| Other amounts receivable | 41 | €1,678 | €6,291 | +€4,613 | +275.0% |
| Cash at bank and in hand | 54/58 | €6,165 | €4,616 | -€1,550 | -25.1% |
| Deferred charges and accrued income | 490/1 | €610 | €614 | +€4 | +0.7% |
| Total equity and liabilities | 10/49 | €327,070 | €317,743 | -€9,326 | -2.9% |
| Equity | 10/15 | -€9,508 | -€9,179 | +€330 | +3.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,508 | -€59,179 | +€330 | +0.6% |
| Amounts payable | 17/49 | €336,578 | €326,922 | -€9,656 | -2.9% |
| Amounts payable after more than one year | 17 | €286,355 | €277,418 | -€8,937 | -3.1% |
| Financial debts | 170/4 | €286,355 | €277,418 | -€8,937 | -3.1% |
| Amounts payable within one year | 42/48 | €45,907 | €42,238 | -€3,669 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €10,212 | €10,618 | +€407 | +4.0% |
| Trade debts | 44 | €35,366 | €31,290 | -€4,076 | -11.5% |
| Suppliers | 440/4 | €35,366 | €31,290 | -€4,076 | -11.5% |
| Other amounts payable | 47/48 | €329 | €329 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,316 | €7,266 | +€2,950 | +68.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,173 | €13,026 | -€12,147 | -48.3% |
| Other operating charges | 640/8 | €1,935 | €2,140 | +€205 | +10.6% |
| Gross operating margin | 9900 | €29,926 | €29,918 | -€7 | 0.0% |
| Operating profit (loss) | 9901 | €2,818 | €14,752 | +€11,935 | +423.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €14,769 | €14,423 | -€346 | -2.3% |
| Recurring financial charges | 65 | €14,769 | €14,423 | -€346 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,951 | €330 | +€12,281 | |
| Profit (loss) for the period | 9904 | -€11,951 | €330 | +€12,281 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,951 | €330 | +€12,281 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.