ARB: 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.
ARB
Largest movements
- Cash +€152,715
up €152,715 (+47.1%), from €324,239 to €476,954
mainly Current investments (+€124,880) and Other debts (+€107,500)
- Current investments -€124,880
no longer reported in 2025 (was €124,880)
- Tangible fixed assets -€11,111
down €11,111 (-14.5%), from €76,778 to €65,666
- Other debts +€107,500
up €107,500 (+10282.4%), from €1,045 to €108,545
- Profit (loss) carried forward -€105,156
down €105,156 (-50.8%), from €206,943 to €101,787
- Reserves +€25,000
up €25,000 (+7.2%), from €344,947 to €369,947
of which Distributable reserves: +€25,000
- Tax, wage and social debts -€10,220
no longer reported in 2025 (was €10,220)
- Turnover +€61,819
new in 2025: €61,819
- Purchases and services +€6,013
new in 2025: €6,013
- Taxes +€2,224
up €2,224 (+21.8%), from €10,224 to €12,448
- Financial income +€2,091
up €2,091 (+16500.2%), from €13 to €2,103
- Gross operating margin -€1,994
down €1,994 (-3.5%), from €57,800 to €55,806
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 | €624,656 | €645,115 | +€20,459 | +3.3% |
| Fixed assets | 21/28 | €146,778 | €135,666 | -€11,111 | -7.6% |
| Tangible fixed assets | 22/27 | €76,778 | €65,666 | -€11,111 | -14.5% |
| Land and buildings | 22 | €76,778 | €65,666 | -€11,111 | -14.5% |
| Financial fixed assets | 28 | €70,000 | €70,000 | = | 0.0% |
| Current assets | 29/58 | €477,878 | €509,449 | +€31,571 | +6.6% |
| Amounts receivable within one year | 40/41 | €25,143 | €28,826 | +€3,683 | +14.6% |
| Other amounts receivable | 41 | €25,143 | €28,826 | +€3,683 | +14.6% |
| Current investments | 50/53 | €124,880 | - | -€124,880 | |
| Cash at bank and in hand | 54/58 | €324,239 | €476,954 | +€152,715 | +47.1% |
| Deferred charges and accrued income | 490/1 | €3,616 | €3,669 | +€53 | +1.5% |
| Total equity and liabilities | 10/49 | €624,656 | €645,115 | +€20,459 | +3.3% |
| Equity | 10/15 | €613,390 | €533,234 | -€80,156 | -13.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €344,947 | €369,947 | +€25,000 | +7.2% |
| Non-distributable reserves | 130/1 | €21,000 | €21,000 | = | 0.0% |
| Legal reserve | 130 | €21,000 | €21,000 | = | 0.0% |
| Distributable reserves | 133 | €323,947 | €348,947 | +€25,000 | +7.7% |
| Profit (loss) carried forward | 14 | €206,943 | €101,787 | -€105,156 | -50.8% |
| Amounts payable | 17/49 | €11,266 | €111,881 | +€100,615 | +893.1% |
| Amounts payable within one year | 42/48 | €11,266 | €111,881 | +€100,615 | +893.1% |
| Trade debts | 44 | - | €3,336 | +€3,336 | |
| Suppliers | 440/4 | - | €3,336 | +€3,336 | |
| Taxes, remuneration and social security | 45 | €10,220 | - | -€10,220 | |
| Taxes | 450/3 | €10,220 | - | -€10,220 | |
| Other amounts payable | 47/48 | €1,045 | €108,545 | +€107,500 | +10282.4% |
| Turnover | 70 | - | €61,819 | +€61,819 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €6,013 | +€6,013 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,741 | €11,111 | -€1,629 | -12.8% |
| Other operating charges | 640/8 | €6,673 | €6,892 | +€219 | +3.3% |
| Gross operating margin | 9900 | €57,800 | €55,806 | -€1,994 | -3.5% |
| Operating profit (loss) | 9901 | €38,386 | €37,802 | -€584 | -1.5% |
| Financial income | 75/76B | €13 | €2,103 | +€2,091 | +16500.2% |
| Recurring financial income | 75 | €13 | €2,103 | +€2,091 | +16500.2% |
| Financial charges | 65/66B | €87 | €114 | +€27 | +30.5% |
| Recurring financial charges | 65 | €87 | €114 | +€27 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €38,312 | €39,792 | +€1,480 | +3.9% |
| Income taxes | 67/77 | €10,224 | €12,448 | +€2,224 | +21.8% |
| Profit (loss) for the period | 9904 | €28,087 | €27,344 | -€744 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,087 | €27,344 | -€744 | -2.6% |
Source: filed annual accounts (NBB), fiscal years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.