AR Transport: 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 Transport
Largest movements
- Tangible fixed assets +€141,727
up €141,727 (+857%), from €16,531 to €158,258
of which Furniture and vehicles: +€140,617
- Receivables within one year -€4,917
down €4,917 (-12.0%), from €40,874 to €35,957
of which Trade receivables: -€7,060
- Cash -€4,793
down €4,793 (-17.3%), from €27,767 to €22,974
mainly Investment in fixed assets (net) (-€171,612) and Trade debts (-€3,688)
- Debts after one year +€78,087
new in 2026: €78,087
- Reserves +€31,800
up €31,800 (+58.5%), from €54,360 to €86,160
- Current portion of long-term debt +€15,174
up €15,174 (+190%), from €7,975 to €23,149
- Tax, wage and social debts +€7,090
up €7,090 (+61.3%), from €11,557 to €18,647
of which Taxes: +€9,991
- Trade debts -€3,688
down €3,688 (-37.8%), from €9,747 to €6,059
- Depreciation -€20,979
down €20,979 (-41.2%), from €50,864 to €29,885
- Gross operating margin +€18,386
up €18,386 (+30.3%), from €60,721 to €79,107
- Taxes +€7,418
up €7,418 (+183%), from €4,059 to €11,477
- Financial charges +€2,678
up €2,678 (+280%), from €957 to €3,635
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €90,636 | €219,602 | +€128,966 | +142% |
| Fixed assets | 21/28 | €17,291 | €159,018 | +€141,727 | +820% |
| Tangible fixed assets | 22/27 | €16,531 | €158,258 | +€141,727 | +857% |
| Land and buildings | 22 | €1,710 | €1,409 | -€301 | -17.6% |
| Plant, machinery and equipment | 23 | €2,663 | €4,349 | +€1,686 | +63.3% |
| Furniture and vehicles | 24 | €10,227 | €150,844 | +€140,617 | +1,375% |
| Other tangible fixed assets | 26 | €1,931 | €1,656 | -€275 | -14.2% |
| Financial fixed assets | 28 | €760 | €760 | = | 0.0% |
| Current assets | 29/58 | €73,345 | €60,584 | -€12,761 | -17.4% |
| Stocks and contracts in progress | 3 | €1,796 | €614 | -€1,182 | -65.8% |
| Stocks | 30/36 | €1,796 | €614 | -€1,182 | -65.8% |
| Amounts receivable within one year | 40/41 | €40,874 | €35,957 | -€4,917 | -12.0% |
| Trade receivables | 40 | €39,892 | €32,832 | -€7,060 | -17.7% |
| Other amounts receivable | 41 | €982 | €3,125 | +€2,143 | +218% |
| Cash at bank and in hand | 54/58 | €27,767 | €22,974 | -€4,793 | -17.3% |
| Deferred charges and accrued income | 490/1 | €2,908 | €1,039 | -€1,869 | -64.3% |
| Total equity and liabilities | 10/49 | €90,636 | €219,602 | +€128,966 | +142% |
| Equity | 10/15 | €61,357 | €93,203 | +€31,846 | +51.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,360 | €86,160 | +€31,800 | +58.5% |
| Distributable reserves | 133 | €54,360 | €86,160 | +€31,800 | +58.5% |
| Profit (loss) carried forward | 14 | €797 | €843 | +€46 | +5.8% |
| Amounts payable | 17/49 | €29,279 | €126,399 | +€97,120 | +332% |
| Amounts payable after more than one year | 17 | - | €78,087 | +€78,087 | |
| Financial debts | 170/4 | - | €78,087 | +€78,087 | |
| Amounts payable within one year | 42/48 | €29,279 | €47,855 | +€18,576 | +63.4% |
| Current portion of amounts payable after more than one year | 42 | €7,975 | €23,149 | +€15,174 | +190% |
| Trade debts | 44 | €9,747 | €6,059 | -€3,688 | -37.8% |
| Suppliers | 440/4 | €9,747 | €6,059 | -€3,688 | -37.8% |
| Taxes, remuneration and social security | 45 | €11,557 | €18,647 | +€7,090 | +61.3% |
| Taxes | 450/3 | €7,692 | €17,683 | +€9,991 | +130% |
| Remuneration and social security | 454/9 | €3,865 | €964 | -€2,901 | -75.1% |
| Accrued charges and deferred income | 492/3 | - | €457 | +€457 | |
| Non-recurring operating income | 76A | €5,172 | - | -€5,172 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,864 | €29,885 | -€20,979 | -41.2% |
| Other operating charges | 640/8 | €2,610 | €2,976 | +€366 | +14.0% |
| Gross operating margin | 9900 | €60,721 | €79,107 | +€18,386 | +30.3% |
| Operating profit (loss) | 9901 | €7,247 | €46,246 | +€38,999 | +538% |
| Financial income | 75/76B | €21 | €712 | +€691 | +3,290% |
| Recurring financial income | 75 | €21 | €712 | +€691 | +3,290% |
| Financial charges | 65/66B | €957 | €3,635 | +€2,678 | +280% |
| Recurring financial charges | 65 | €957 | €3,635 | +€2,678 | +280% |
| Profit (loss) for the period before taxes | 9903 | €6,311 | €43,323 | +€37,012 | +586% |
| Income taxes | 67/77 | €4,059 | €11,477 | +€7,418 | +183% |
| Profit (loss) for the period | 9904 | €2,252 | €31,846 | +€29,594 | +1,314% |
| Profit (loss) for the period to be appropriated | 9905 | €2,252 | €31,846 | +€29,594 | +1,314% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.