ARBEAL: 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.
ARBEAL
Largest movements
- Tangible fixed assets +€469,084
up €469,084 (+297.7%), from €157,548 to €626,632
of which Other tangible fixed assets: +€428,498
- Intangible fixed assets +€92,717
up €92,717 (+1121.3%), from €8,268 to €100,985
- Deferred charges and accrued income +€51,331
up €51,331 (+2535.8%), from €2,024 to €53,356
- Receivables within one year -€28,651
down €28,651 (-26.4%), from €108,345 to €79,694
of which Other amounts receivable: -€38,006
- Debts after one year +€328,582
up €328,582 (+242.7%), from €135,387 to €463,969
- Other debts +€208,205
up €208,205 (+24.6%), from €845,078 to €1.1m
- Accrued charges and deferred income +€47,112
up €47,112 (+602.7%), from €7,817 to €54,929
- Current portion of long-term debt +€43,353
up €43,353 (+221.4%), from €19,580 to €62,934
- Tax, wage and social debts -€29,352
down €29,352 (-97.5%), from €30,110 to €758
of which Remuneration and social security: -€17,679
- Turnover -€651,253
no longer reported in 2025 (was €651,253)
- Purchases and services -€631,394
no longer reported in 2025 (was €631,394)
- Staff costs -€327,638
down €327,638 (-99.7%), from €328,661 to €1,024
- Depreciation +€36,016
up €36,016 (+740.1%), from €4,866 to €40,883
- Gross operating margin +€14,117
up €14,117 (+42.9%), from €32,908 to €47,025
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €286,386 | €865,798 | +€579,412 | +202.3% |
| Fixed assets | 21/28 | €165,816 | €727,617 | +€561,801 | +338.8% |
| Intangible fixed assets | 21 | €8,268 | €100,985 | +€92,717 | +1121.3% |
| Tangible fixed assets | 22/27 | €157,548 | €626,632 | +€469,084 | +297.7% |
| Plant, machinery and equipment | 23 | - | €23,219 | +€23,219 | |
| Furniture and vehicles | 24 | €1,827 | €19,193 | +€17,367 | +950.8% |
| Other tangible fixed assets | 26 | €155,722 | €584,219 | +€428,498 | +275.2% |
| Current assets | 29/58 | €120,570 | €138,181 | +€17,611 | +14.6% |
| Stocks and contracts in progress | 3 | €10,201 | €5,131 | -€5,069 | -49.7% |
| Stocks | 30/36 | €10,201 | €5,131 | -€5,069 | -49.7% |
| Amounts receivable within one year | 40/41 | €108,345 | €79,694 | -€28,651 | -26.4% |
| Trade receivables | 40 | €42,579 | €51,934 | +€9,355 | +22.0% |
| Other amounts receivable | 41 | €65,766 | €27,760 | -€38,006 | -57.8% |
| Deferred charges and accrued income | 490/1 | €2,024 | €53,356 | +€51,331 | +2535.8% |
| Total equity and liabilities | 10/49 | €286,386 | €865,798 | +€579,412 | +202.3% |
| Equity | 10/15 | -€1,037,542 | -€1,045,768 | -€8,226 | -0.8% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €2,385 | €2,385 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €2,385 | +€2,385 | |
| Legal reserve | 130 | - | €2,385 | +€2,385 | |
| Distributable reserves | 133 | €2,385 | - | -€2,385 | |
| Profit (loss) carried forward | 14 | -€1,119,927 | -€1,128,153 | -€8,226 | -0.7% |
| Amounts payable | 17/49 | €1,323,928 | €1,911,567 | +€587,638 | +44.4% |
| Amounts payable after more than one year | 17 | €135,387 | €463,969 | +€328,582 | +242.7% |
| Financial debts | 170/4 | €135,387 | €463,969 | +€328,582 | +242.7% |
| Amounts payable within one year | 42/48 | €1,180,725 | €1,392,669 | +€211,944 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €19,580 | €62,934 | +€43,353 | +221.4% |
| Trade debts | 44 | €285,957 | €275,695 | -€10,262 | -3.6% |
| Suppliers | 440/4 | €285,957 | €275,695 | -€10,262 | -3.6% |
| Taxes, remuneration and social security | 45 | €30,110 | €758 | -€29,352 | -97.5% |
| Taxes | 450/3 | €11,673 | - | -€11,673 | |
| Remuneration and social security | 454/9 | €18,437 | €758 | -€17,679 | -95.9% |
| Other amounts payable | 47/48 | €845,078 | €1,053,282 | +€208,205 | +24.6% |
| Accrued charges and deferred income | 492/3 | €7,817 | €54,929 | +€47,112 | +602.7% |
| Turnover | 70 | €651,253 | - | -€651,253 | |
| Non-recurring operating income | 76A | €244 | €12,339 | +€12,096 | +4967.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €631,394 | - | -€631,394 | |
| Remuneration, social security and pensions | 62 | €328,661 | €1,024 | -€327,638 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,866 | €40,883 | +€36,016 | +740.1% |
| Other operating charges | 640/8 | €5,340 | €400 | -€4,940 | -92.5% |
| Non-recurring operating charges | 66A | €16,817 | €585 | -€16,233 | -96.5% |
| Gross operating margin | 9900 | €32,908 | €47,025 | +€14,117 | +42.9% |
| Operating profit (loss) | 9901 | -€322,777 | €4,134 | +€326,911 | |
| Financial income | 75/76B | - | €1,638 | +€1,638 | |
| Recurring financial income | 75 | - | €1,638 | +€1,638 | |
| Financial charges | 65/66B | €6,520 | €13,998 | +€7,478 | +114.7% |
| Recurring financial charges | 65 | €6,520 | €13,998 | +€7,478 | +114.7% |
| Profit (loss) for the period before taxes | 9903 | -€329,298 | -€8,226 | +€321,071 | +97.5% |
| Profit (loss) for the period | 9904 | -€329,298 | -€8,226 | +€321,071 | +97.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€329,298 | -€8,226 | +€321,071 | +97.5% |
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 7 October 2026 via checked.be.