AR&VB: 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&VB
Largest movements
- Receivables within one year +€15,495
up €15,495 (+1216.6%), from €1,274 to €16,769
of which Trade receivables: +€10,216
- Tangible fixed assets -€9,033
down €9,033 (-27.6%), from €32,770 to €23,737
of which Other tangible fixed assets: -€6,422
- Cash +€2,061
up €2,061 (+189.4%), from €1,088 to €3,149
mainly Net result for the year (+€13,715) and Depreciation (+€11,041)
- Other debts -€12,060
down €12,060 (-100.0%), from €12,060 to €0
- Reserves +€10,263
up €10,263 (+231.2%), from €4,439 to €14,701
- Tax, wage and social debts +€7,018
up €7,018 (+14765.5%), from €48 to €7,066
of which Taxes: +€4,868
- Debts after one year -€3,697
down €3,697 (-23.8%), from €15,500 to €11,804
- Profit (loss) carried forward +€3,452
up €3,452, from -€3,452 to €0
- Gross operating margin +€21,436
up €21,436 (+161.2%), from €13,295 to €34,731
- Taxes +€6,909
up €6,909 (+1627.4%), from €425 to €7,334
- Depreciation +€1,604
up €1,604 (+17.0%), from €9,437 to €11,041
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 | €36,132 | €44,655 | +€8,523 | +23.6% |
| Fixed assets | 21/28 | €33,770 | €24,737 | -€9,033 | -26.7% |
| Tangible fixed assets | 22/27 | €32,770 | €23,737 | -€9,033 | -27.6% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €6,954 | €2,505 | -€4,449 | -64.0% |
| Furniture and vehicles | 24 | - | €1,838 | +€1,838 | |
| Other tangible fixed assets | 26 | €25,816 | €19,394 | -€6,422 | -24.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €2,362 | €19,918 | +€17,556 | +743.3% |
| Amounts receivable within one year | 40/41 | €1,274 | €16,769 | +€15,495 | +1216.6% |
| Trade receivables | 40 | €970 | €11,186 | +€10,216 | +1053.3% |
| Other amounts receivable | 41 | €304 | €5,583 | +€5,279 | +1738.0% |
| Cash at bank and in hand | 54/58 | €1,088 | €3,149 | +€2,061 | +189.4% |
| Total equity and liabilities | 10/49 | €36,132 | €44,655 | +€8,523 | +23.6% |
| Equity | 10/15 | €2,986 | €16,701 | +€13,715 | +459.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €4,439 | €14,701 | +€10,263 | +231.2% |
| Distributable reserves | 133 | €4,439 | €14,701 | +€10,263 | +231.2% |
| Profit (loss) carried forward | 14 | -€3,452 | €0 | +€3,452 | |
| Amounts payable | 17/49 | €33,146 | €27,954 | -€5,192 | -15.7% |
| Amounts payable after more than one year | 17 | €15,500 | €11,804 | -€3,697 | -23.8% |
| Financial debts | 170/4 | €15,500 | €11,804 | -€3,697 | -23.8% |
| Amounts payable within one year | 42/48 | €17,646 | €16,150 | -€1,496 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €4,241 | €7,269 | +€3,028 | +71.4% |
| Trade debts | 44 | €1,297 | €1,815 | +€518 | +40.0% |
| Suppliers | 440/4 | €1,297 | €1,815 | +€518 | +40.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €48 | €7,066 | +€7,018 | +14765.5% |
| Taxes | 450/3 | €48 | €4,916 | +€4,868 | +10242.0% |
| Remuneration and social security | 454/9 | - | €2,150 | +€2,150 | |
| Other amounts payable | 47/48 | €12,060 | €0 | -€12,060 | -100.0% |
| Remuneration, social security and pensions | 62 | -€297 | €0 | +€297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,437 | €11,041 | +€1,604 | +17.0% |
| Other operating charges | 640/8 | €1,548 | €1,603 | +€55 | +3.5% |
| Gross operating margin | 9900 | €13,295 | €34,731 | +€21,436 | +161.2% |
| Operating profit (loss) | 9901 | €2,606 | €22,086 | +€19,481 | +747.5% |
| Financial income | 75/76B | €7 | €154 | +€148 | +2197.8% |
| Recurring financial income | 75 | €7 | €154 | +€148 | +2197.8% |
| Financial charges | 65/66B | €1,001 | €1,192 | +€191 | +19.1% |
| Recurring financial charges | 65 | €1,001 | €1,192 | +€191 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €1,612 | €21,049 | +€19,437 | +1205.8% |
| Income taxes | 67/77 | €425 | €7,334 | +€6,909 | +1627.4% |
| Profit (loss) for the period | 9904 | €1,187 | €13,715 | +€12,528 | +1055.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,187 | €13,715 | +€12,528 | +1055.0% |
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 2 October 2026 via checked.be.