Arbitrall: 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.
Arbitrall
Largest movements
- Cash -€2,257
down €2,257 (-44.6%), from €5,064 to €2,807
mainly Net result for the year (-€2,466) and Investment in fixed assets (net) (-€400)
- Intangible fixed assets -€773
down €773 (-34.7%), from €2,225 to €1,452
- Financial fixed assets +€400
up €400, from €0 to €400
- Receivables within one year +€174
up €174 (+24.2%), from €717 to €890
of which Other amounts receivable: +€298
- Profit (loss) carried forward -€2,466
down €2,466 (-17.5%), from -€14,058 to -€16,524
- Accrued charges and deferred income +€176
up €176 (+16.4%), from €1,072 to €1,248
- Trade debts -€166
down €166 (-100.0%), from €166 to €0
- Gross operating margin -€369
down €369 (-49.5%), from -€746 to -€1,114
- Other operating charges -€144
down €144 (-26.5%), from €543 to €399
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 | €8,005 | €5,549 | -€2,456 | -30.7% |
| Fixed assets | 21/28 | €2,225 | €1,852 | -€373 | -16.7% |
| Intangible fixed assets | 21 | €2,225 | €1,452 | -€773 | -34.7% |
| Financial fixed assets | 28 | €0 | €400 | +€400 | |
| Current assets | 29/58 | €5,780 | €3,697 | -€2,083 | -36.0% |
| Amounts receivable within one year | 40/41 | €717 | €890 | +€174 | +24.2% |
| Trade receivables | 40 | €400 | €276 | -€124 | -31.0% |
| Other amounts receivable | 41 | €317 | €614 | +€298 | +94.0% |
| Cash at bank and in hand | 54/58 | €5,064 | €2,807 | -€2,257 | -44.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €8,005 | €5,549 | -€2,456 | -30.7% |
| Equity | 10/15 | -€9,058 | -€11,524 | -€2,466 | -27.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,058 | -€16,524 | -€2,466 | -17.5% |
| Amounts payable | 17/49 | €17,063 | €17,073 | +€10 | +0.1% |
| Amounts payable within one year | 42/48 | €15,991 | €15,825 | -€166 | -1.0% |
| Trade debts | 44 | €166 | €0 | -€166 | -100.0% |
| Suppliers | 440/4 | €166 | €0 | -€166 | -100.0% |
| Other amounts payable | 47/48 | €15,825 | €15,825 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,072 | €1,248 | +€176 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €773 | €773 | = | 0.0% |
| Other operating charges | 640/8 | €543 | €399 | -€144 | -26.5% |
| Gross operating margin | 9900 | -€746 | -€1,114 | -€369 | -49.5% |
| Operating profit (loss) | 9901 | -€2,061 | -€2,286 | -€225 | -10.9% |
| Financial charges | 65/66B | €185 | €180 | -€4 | -2.4% |
| Recurring financial charges | 65 | €185 | €180 | -€4 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,246 | -€2,466 | -€220 | -9.8% |
| Profit (loss) for the period | 9904 | -€2,246 | -€2,466 | -€220 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,246 | -€2,466 | -€220 | -9.8% |
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 12 October 2026 via checked.be.