ARBO Concept: 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.
ARBO Concept
Largest movements
- Stocks and contracts -€46,189
down €46,189 (-5.1%), from €906,001 to €859,812
- Receivables within one year +€45,171
up €45,171 (+292.9%), from €15,419 to €60,590
of which Other amounts receivable: +€31,688
- Tangible fixed assets +€12,924
up €12,924 (+42.4%), from €30,494 to €43,418
- Other debts +€360,325
up €360,325 (+14786.0%), from €2,437 to €362,762
- Profit (loss) carried forward -€230,791
down €230,791 (-98.0%), from €235,385 to €4,594
- Debts after one year -€134,562
down €134,562 (-21.4%), from €629,074 to €494,512
of which Financial debts: -€137,112
- Trade debts +€54,079
up €54,079 (+71.9%), from €75,264 to €129,344
- Advances received -€36,746
no longer reported in 2025 (was €36,746)
- Gross operating margin +€36,822
up €36,822 (+18.5%), from €198,993 to €235,815
- Financial charges +€13,562
up €13,562 (+42.7%), from €31,730 to €45,292
- Staff costs +€8,223
up €8,223 (+213.8%), from €3,845 to €12,068
- Taxes +€3,461
up €3,461 (+8.7%), from €39,609 to €43,070
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 | €1,047,781 | €1,052,380 | +€4,599 | +0.4% |
| Fixed assets | 21/28 | €30,792 | €43,716 | +€12,924 | +42.0% |
| Tangible fixed assets | 22/27 | €30,494 | €43,418 | +€12,924 | +42.4% |
| Plant, machinery and equipment | 23 | €30,494 | €43,418 | +€12,924 | +42.4% |
| Financial fixed assets | 28 | €298 | €298 | = | 0.0% |
| Current assets | 29/58 | €1,016,990 | €1,008,664 | -€8,325 | -0.8% |
| Stocks and contracts in progress | 3 | €906,001 | €859,812 | -€46,189 | -5.1% |
| Stocks | 30/36 | €906,001 | €859,812 | -€46,189 | -5.1% |
| Amounts receivable within one year | 40/41 | €15,419 | €60,590 | +€45,171 | +292.9% |
| Trade receivables | 40 | €15,419 | €28,902 | +€13,483 | +87.4% |
| Other amounts receivable | 41 | - | €31,688 | +€31,688 | |
| Cash at bank and in hand | 54/58 | €92,375 | €82,361 | -€10,013 | -10.8% |
| Deferred charges and accrued income | 490/1 | €3,194 | €5,901 | +€2,707 | +84.7% |
| Total equity and liabilities | 10/49 | €1,047,781 | €1,052,380 | +€4,599 | +0.4% |
| Equity | 10/15 | €265,385 | €34,594 | -€230,791 | -87.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €235,385 | €4,594 | -€230,791 | -98.0% |
| Amounts payable | 17/49 | €782,397 | €1,017,787 | +€235,390 | +30.1% |
| Amounts payable after more than one year | 17 | €629,074 | €494,512 | -€134,562 | -21.4% |
| Financial debts | 170/4 | €629,074 | €491,962 | -€137,112 | -21.8% |
| Other amounts payable | 178/9 | - | €2,550 | +€2,550 | |
| Amounts payable within one year | 42/48 | €153,322 | €523,089 | +€369,766 | +241.2% |
| Current portion of amounts payable after more than one year | 42 | €15,268 | €12,053 | -€3,215 | -21.1% |
| Trade debts | 44 | €75,264 | €129,344 | +€54,079 | +71.9% |
| Suppliers | 440/4 | €75,264 | €129,344 | +€54,079 | +71.9% |
| Advances received on contracts in progress | 46 | €36,746 | - | -€36,746 | |
| Taxes, remuneration and social security | 45 | €23,607 | €18,930 | -€4,677 | -19.8% |
| Taxes | 450/3 | €22,903 | €16,619 | -€6,284 | -27.4% |
| Remuneration and social security | 454/9 | €704 | €2,311 | +€1,608 | +228.4% |
| Other amounts payable | 47/48 | €2,437 | €362,762 | +€360,325 | +14786.0% |
| Accrued charges and deferred income | 492/3 | - | €186 | +€186 | |
| Remuneration, social security and pensions | 62 | €3,845 | €12,068 | +€8,223 | +213.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,005 | €4,976 | +€971 | +24.2% |
| Other operating charges | 640/8 | €1,226 | €1,251 | +€25 | +2.0% |
| Gross operating margin | 9900 | €198,993 | €235,815 | +€36,822 | +18.5% |
| Operating profit (loss) | 9901 | €189,916 | €217,520 | +€27,604 | +14.5% |
| Financial income | 75/76B | €598 | €51 | -€547 | -91.5% |
| Recurring financial income | 75 | €598 | €51 | -€547 | -91.5% |
| Financial charges | 65/66B | €31,730 | €45,292 | +€13,562 | +42.7% |
| Recurring financial charges | 65 | €31,730 | €45,292 | +€13,562 | +42.7% |
| Profit (loss) for the period before taxes | 9903 | €158,784 | €172,279 | +€13,495 | +8.5% |
| Income taxes | 67/77 | €39,609 | €43,070 | +€3,461 | +8.7% |
| Profit (loss) for the period | 9904 | €119,175 | €129,209 | +€10,034 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,175 | €129,209 | +€10,034 | +8.4% |
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 6 October 2026 via checked.be.