ARBALETT: 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.
ARBALETT
Largest movements
- Cash +€124,233
up €124,233 (+644%), from €19,287 to €143,520
mainly Deferred charges and accrued income (+€113,461) and Short-term financial debts (+€68,441)
- Deferred charges and accrued income -€113,461
down €113,461 (-86.8%), from €130,717 to €17,256
- Receivables within one year +€32,306
up €32,306 (+5.2%), from €618,390 to €650,696
of which Trade receivables: +€32,337
- Tax, wage and social debts -€116,846
down €116,846 (-45.0%), from €259,608 to €142,762
of which Remuneration and social security: -€81,549
- Short-term financial debts +€68,441
new in 2025: €68,441
- Profit (loss) carried forward +€65,201
up €65,201 (+27.1%), from €240,443 to €305,644
- Trade debts +€19,130
up €19,130 (+9.6%), from €200,105 to €219,235
- Staff costs -€123,634
down €123,634 (-26.0%), from €475,681 to €352,047
- Gross operating margin -€98,473
down €98,473 (-15.4%), from €640,287 to €541,814
- Depreciation +€13,541
up €13,541 (+34.4%), from €39,403 to €52,944
- Financial charges +€8,749
up €8,749 (+37.5%), from €23,356 to €32,105
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,119,756 | €1,159,026 | +€39,270 | +3.5% |
| Fixed assets | 21/28 | €351,362 | €347,554 | -€3,808 | -1.1% |
| Intangible fixed assets | 21 | €9,209 | €10,157 | +€948 | +10.3% |
| Tangible fixed assets | 22/27 | €341,531 | €336,775 | -€4,756 | -1.4% |
| Land and buildings | 22 | €230,524 | €242,221 | +€11,697 | +5.1% |
| Plant, machinery and equipment | 23 | €28,636 | €24,461 | -€4,175 | -14.6% |
| Furniture and vehicles | 24 | €25,488 | €34,241 | +€8,753 | +34.3% |
| Other tangible fixed assets | 26 | €56,883 | €35,852 | -€21,031 | -37.0% |
| Financial fixed assets | 28 | €622 | €622 | = | 0.0% |
| Current assets | 29/58 | €768,394 | €811,472 | +€43,078 | +5.6% |
| Amounts receivable within one year | 40/41 | €618,390 | €650,696 | +€32,306 | +5.2% |
| Trade receivables | 40 | €603,359 | €635,696 | +€32,337 | +5.4% |
| Other amounts receivable | 41 | €15,031 | €15,000 | -€31 | -0.2% |
| Cash at bank and in hand | 54/58 | €19,287 | €143,520 | +€124,233 | +644% |
| Deferred charges and accrued income | 490/1 | €130,717 | €17,256 | -€113,461 | -86.8% |
| Total equity and liabilities | 10/49 | €1,119,756 | €1,159,026 | +€39,270 | +3.5% |
| Equity | 10/15 | €320,693 | €385,894 | +€65,201 | +20.3% |
| Contributions | 10/11 | €1,400 | €1,400 | = | 0.0% |
| Reserves | 13 | €78,850 | €78,850 | = | 0.0% |
| Distributable reserves | 133 | €78,850 | €78,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,443 | €305,644 | +€65,201 | +27.1% |
| Amounts payable | 17/49 | €799,063 | €773,132 | -€25,931 | -3.2% |
| Amounts payable after more than one year | 17 | €163,670 | €154,864 | -€8,806 | -5.4% |
| Financial debts | 170/4 | €163,670 | €154,864 | -€8,806 | -5.4% |
| Amounts payable within one year | 42/48 | €635,313 | €618,268 | -€17,045 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €24,050 | €32,138 | +€8,088 | +33.6% |
| Financial debts | 43 | - | €68,441 | +€68,441 | |
| Credit institutions | 430/8 | - | €68,441 | +€68,441 | |
| Trade debts | 44 | €200,105 | €219,235 | +€19,130 | +9.6% |
| Suppliers | 440/4 | €200,105 | €219,235 | +€19,130 | +9.6% |
| Taxes, remuneration and social security | 45 | €259,608 | €142,762 | -€116,846 | -45.0% |
| Taxes | 450/3 | €139,473 | €104,176 | -€35,297 | -25.3% |
| Remuneration and social security | 454/9 | €120,135 | €38,586 | -€81,549 | -67.9% |
| Other amounts payable | 47/48 | €151,550 | €155,692 | +€4,142 | +2.7% |
| Accrued charges and deferred income | 492/3 | €80 | - | -€80 | |
| Remuneration, social security and pensions | 62 | €475,681 | €352,047 | -€123,634 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,403 | €52,944 | +€13,541 | +34.4% |
| Other operating charges | 640/8 | €8,773 | €2,618 | -€6,155 | -70.2% |
| Gross operating margin | 9900 | €640,287 | €541,814 | -€98,473 | -15.4% |
| Operating profit (loss) | 9901 | €116,430 | €134,205 | +€17,775 | +15.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €23,356 | €32,105 | +€8,749 | +37.5% |
| Recurring financial charges | 65 | €23,356 | €32,105 | +€8,749 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €93,074 | €102,100 | +€9,026 | +9.7% |
| Income taxes | 67/77 | €33,981 | €36,899 | +€2,918 | +8.6% |
| Profit (loss) for the period | 9904 | €59,093 | €65,201 | +€6,108 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,093 | €65,201 | +€6,108 | +10.3% |
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 21 October 2026 via checked.be.