ARBAHOLD: 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.
What changed
ARBAHOLD
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €1.8m-€266,031
Equity
€14.7m
2024 · €13.2m+€1.5m
Cash
€9,320
2024 · €4,534+€4,786
Balance sheet total
€23.7m
2024 · €21.8m+€1.9m
Largest movements
Assets
- Receivables within one year +€1.9m
up €1.9m (+116%), from €1.6m to €3.5m
of which Other amounts receivable: +€2.0m
Equity and liabilities
- Reserves +€1.5m
up €1.5m (+73.0%), from €2.0m to €3.5m
- Other debts +€786,268
new in 2025: €786,268
- Debts after one year -€380,893
down €380,893 (-4.7%), from €8.1m to €7.7m
Income statement
- Financial income -€235,000
down €235,000 (-11.5%), from €2.0m to €1.8m
- Turnover -€33,728
down €33,728 (-10.6%), from €318,888 to €285,160
- Financial charges -€3,894
down €3,894 (-1.1%), from €346,655 to €342,761
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.
Result 2024
€1.8m
Turnover
-€33,728
Services and other goods
-€611
Other operating charges
-€587
Financial income
-€235,000
Financial charges
+€3,894
Result 2025
€1.5m
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€381,705
Investment
€0
Financing
-€376,919
Cash 2024
€4,534
From operations (derived)
+€381,705
Net result for the year
+€1.5m
Receivables within one year
-€1.9m
Smaller working-capital items
-€116
Other debts
+€786,268
Financing
-€376,919
Debts after one year
-€380,893
Current portion of long-term debt
+€3,974
Cash 2025
€9,320
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,842,551 | €23,745,899 | +€1.9m | +8.7% |
| Fixed assets | 21/28 | €20,199,999 | €20,199,999 | = | 0.0% |
| Financial fixed assets | 28 | €20,199,999 | €20,199,999 | = | 0.0% |
| Affiliated companies | 280/1 | €20,199,999 | €20,199,999 | = | 0.0% |
| Participating interests | 280 | €20,199,999 | €20,199,999 | = | 0.0% |
| Current assets | 29/58 | €1,642,552 | €3,545,900 | +€1.9m | +116% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,638,018 | €3,536,579 | +€1.9m | +116% |
| Trade receivables | 40 | €58,783 | €0 | -€58,783 | -100% |
| Other amounts receivable | 41 | €1,579,235 | €3,536,579 | +€2.0m | +124% |
| Cash at bank and in hand | 54/58 | €4,534 | €9,320 | +€4,786 | +106% |
| Total equity and liabilities | 10/49 | €21,842,551 | €23,745,899 | +€1.9m | +8.7% |
| Equity | 10/15 | €13,246,700 | €14,740,814 | +€1.5m | +11.3% |
| Contributions | 10/11 | €11,200,010 | €11,200,010 | = | 0.0% |
| Reserves | 13 | €2,046,690 | €3,540,804 | +€1.5m | +73.0% |
| Distributable reserves | 133 | €2,046,690 | €3,540,804 | +€1.5m | +73.0% |
| Amounts payable | 17/49 | €8,595,851 | €9,005,085 | +€409,234 | +4.8% |
| Amounts payable after more than one year | 17 | €8,115,802 | €7,734,909 | -€380,893 | -4.7% |
| Financial debts | 170/4 | €8,115,802 | €7,734,909 | -€380,893 | -4.7% |
| Subordinated loans | 170 | €4,100,000 | €4,100,000 | = | 0.0% |
| Credit institutions | 173 | €4,015,802 | €3,634,909 | -€380,893 | -9.5% |
| Amounts payable within one year | 42/48 | €402,387 | €1,193,336 | +€790,949 | +197% |
| Current portion of amounts payable after more than one year | 42 | €376,919 | €380,893 | +€3,974 | +1.1% |
| Trade debts | 44 | €23,727 | €24,442 | +€715 | +3.0% |
| Suppliers | 440/4 | €23,727 | €24,442 | +€715 | +3.0% |
| Taxes, remuneration and social security | 45 | €1,741 | €1,733 | -€8 | -0.5% |
| Taxes | 450/3 | €1,741 | €1,733 | -€8 | -0.5% |
| Other amounts payable | 47/48 | - | €786,268 | +€786,268 | |
| Accrued charges and deferred income | 492/3 | €77,662 | €76,840 | -€822 | -1.1% |
| Operating income | 70/76A | €318,888 | €285,160 | -€33,728 | -10.6% |
| Turnover | 70 | €318,888 | €285,160 | -€33,728 | -10.6% |
| Operating charges | 60/66A | €247,088 | €248,285 | +€1,197 | +0.5% |
| Services and other goods | 61 | €246,563 | €247,173 | +€611 | +0.2% |
| Other operating charges | 640/8 | €525 | €1,112 | +€587 | +112% |
| Operating profit (loss) | 9901 | €71,800 | €36,875 | -€34,925 | -48.6% |
| Financial income | 75/76B | €2,035,000 | €1,800,000 | -€235,000 | -11.5% |
| Recurring financial income | 75 | €2,035,000 | €1,800,000 | -€235,000 | -11.5% |
| Income from financial fixed assets | 750 | €2,035,000 | €1,800,000 | -€235,000 | -11.5% |
| Financial charges | 65/66B | €346,655 | €342,761 | -€3,894 | -1.1% |
| Recurring financial charges | 65 | €346,655 | €342,761 | -€3,894 | -1.1% |
| Debt charges | 650 | €346,307 | €342,409 | -€3,899 | -1.1% |
| Other financial charges | 652/9 | €348 | €353 | +€5 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €1,760,145 | €1,494,114 | -€266,031 | -15.1% |
| Profit (loss) for the period | 9904 | €1,760,145 | €1,494,114 | -€266,031 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,760,145 | €1,494,114 | -€266,031 | -15.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.