ARBIMAX: 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.
ARBIMAX
Largest movements
- Tangible fixed assets +€209,527
up €209,527 (+8.7%), from €2.4m to €2.6m
of which Land and buildings: +€158,920
- Cash +€100,966
up €100,966 (+565%), from €17,865 to €118,831
mainly Net result for the year (+€473,555) and Depreciation (+€93,310)
- Profit (loss) carried forward +€482,076
up €482,076, from -€7,432 to €474,644
- Trade debts -€166,284
down €166,284 (-95.4%), from €174,313 to €8,029
- Debts after one year +€63,917
up €63,917 (+8.4%), from €764,934 to €828,851
of which Financial debts: +€63,917
- Other debts -€31,540
down €31,540 (-98.2%), from €32,110 to €571
- Turnover +€523,674
up €523,674 (+385%), from €135,984 to €659,658
- Gross operating margin +€498,275
up €498,275 (+477%), from €104,532 to €602,808
- Purchases and services +€25,399
up €25,399 (+80.8%), from €31,452 to €56,850
- Financial charges +€11,864
up €11,864 (+55.2%), from €21,487 to €33,351
- Other operating charges +€10,003
up €10,003 (+830%), from €1,205 to €11,208
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 | €2,526,829 | €2,838,922 | +€312,093 | +12.4% |
| Fixed assets | 21/28 | €2,505,085 | €2,714,612 | +€209,527 | +8.4% |
| Tangible fixed assets | 22/27 | €2,396,170 | €2,605,697 | +€209,527 | +8.7% |
| Land and buildings | 22 | €2,107,585 | €2,266,505 | +€158,920 | +7.5% |
| Plant, machinery and equipment | 23 | €288,585 | €339,192 | +€50,607 | +17.5% |
| Financial fixed assets | 28 | €108,915 | €108,915 | = | 0.0% |
| Current assets | 29/58 | €21,744 | €124,310 | +€102,566 | +472% |
| Amounts receivable within one year | 40/41 | €1,746 | €2,827 | +€1,081 | +61.9% |
| Other amounts receivable | 41 | €1,746 | €2,827 | +€1,081 | +61.9% |
| Cash at bank and in hand | 54/58 | €17,865 | €118,831 | +€100,966 | +565% |
| Deferred charges and accrued income | 490/1 | €2,132 | €2,652 | +€519 | +24.4% |
| Total equity and liabilities | 10/49 | €2,526,829 | €2,838,922 | +€312,093 | +12.4% |
| Equity | 10/15 | €1,408,271 | €1,881,825 | +€473,555 | +33.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,108,640 | €1,108,640 | = | 0.0% |
| Reserves | 13 | €245,063 | €236,541 | -€8,521 | -3.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €237,267 | €228,746 | -€8,521 | -3.6% |
| Distributable reserves | 133 | €1,596 | €1,596 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,432 | €474,644 | +€482,076 | |
| Provisions and deferred taxes | 16 | €79,088 | €76,247 | -€2,840 | -3.6% |
| Provisions for liabilities and charges | 160/5 | €79,088 | €76,247 | -€2,840 | -3.6% |
| Taxes | 161 | €79,088 | €76,247 | -€2,840 | -3.6% |
| Amounts payable | 17/49 | €1,039,471 | €880,849 | -€158,622 | -15.3% |
| Amounts payable after more than one year | 17 | €764,934 | €828,851 | +€63,917 | +8.4% |
| Financial debts | 170/4 | €761,841 | €825,757 | +€63,917 | +8.4% |
| Other amounts payable | 178/9 | €3,093 | €3,093 | = | 0.0% |
| Amounts payable within one year | 42/48 | €273,987 | €51,999 | -€221,988 | -81.0% |
| Current portion of amounts payable after more than one year | 42 | €67,564 | €43,398 | -€24,165 | -35.8% |
| Trade debts | 44 | €174,313 | €8,029 | -€166,284 | -95.4% |
| Suppliers | 440/4 | €174,313 | €8,029 | -€166,284 | -95.4% |
| Other amounts payable | 47/48 | €32,110 | €571 | -€31,540 | -98.2% |
| Accrued charges and deferred income | 492/3 | €550 | - | -€550 | |
| Turnover | 70 | €135,984 | €659,658 | +€523,674 | +385% |
| Goods, raw materials, services and sundry goods | 60/61 | €31,452 | €56,850 | +€25,399 | +80.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,719 | €93,310 | +€9,591 | +11.5% |
| Other operating charges | 640/8 | €1,205 | €11,208 | +€10,003 | +830% |
| Gross operating margin | 9900 | €104,532 | €602,808 | +€498,275 | +477% |
| Operating profit (loss) | 9901 | €19,608 | €498,290 | +€478,682 | +2,441% |
| Financial income | 75/76B | - | €5,776 | +€5,776 | |
| Recurring financial income | 75 | - | €1,276 | +€1,276 | |
| Non-recurring financial income | 76B | - | €4,500 | +€4,500 | |
| Financial charges | 65/66B | €21,487 | €33,351 | +€11,864 | +55.2% |
| Recurring financial charges | 65 | €21,487 | €33,351 | +€11,864 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,879 | €470,714 | +€472,594 | |
| Transfer from deferred taxes | 780 | €3,112 | €2,840 | -€272 | -8.7% |
| Profit (loss) for the period | 9904 | €1,233 | €473,555 | +€472,322 | +38,314% |
| Transfer from tax-exempt reserves | 789 | €9,336 | €8,521 | -€815 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,569 | €482,076 | +€471,507 | +4,461% |
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 18 October 2026 via checked.be.