ARBONEO: what changed
ARBONEO
Largest movements
- Receivables within one year +€1.8m
up €1.8m (+65.3%), from €2.8m to €4.6m
of which Other amounts receivable: +€2.3m
- Cash +€255,513
up €255,513 (+418%), from €61,081 to €316,594
mainly Short-term financial debts (+€2.0m) and Accrued charges and deferred income (+€666,872)
- Financial fixed assets +€132,924
up €132,924 (+16.6%), from €800,000 to €932,924
- Tangible fixed assets +€80,176
up €80,176 (+188%), from €42,626 to €122,802
of which Other tangible fixed assets: +€47,862
- Short-term financial debts +€2.0m
up €2.0m (+421%), from €475,000 to €2.5m
- Trade debts -€744,732
down €744,732 (-66.0%), from €1.1m to €384,177
- Accrued charges and deferred income +€666,872
up €666,872 (+1,094%), from €60,947 to €727,819
- Profit (loss) carried forward +€263,150
up €263,150 (+21.4%), from €1.2m to €1.5m
- Other debts +€120,000
up €120,000 (+31.6%), from €380,000 to €500,000
- Gross operating margin +€316,651
up €316,651 (+51.0%), from €621,245 to €937,896
- Staff costs +€156,582
up €156,582 (+33.6%), from €465,606 to €622,188
- Financial income +€111,161
up €111,161 (+252%), from €44,184 to €155,345
- Financial charges +€45,119
up €45,119 (+82.7%), from €54,577 to €99,695
- Taxes +€35,891
up €35,891 (+4,130%), from €869 to €36,760
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,278,999 | €6,608,823 | +€2.3m | +54.4% |
| Fixed assets | 21/28 | €904,066 | €1,100,853 | +€196,787 | +21.8% |
| Intangible fixed assets | 21 | €61,440 | €45,127 | -€16,313 | -26.6% |
| Tangible fixed assets | 22/27 | €42,626 | €122,802 | +€80,176 | +188% |
| Plant, machinery and equipment | 23 | €36,383 | €41,767 | +€5,384 | +14.8% |
| Furniture and vehicles | 24 | €5,007 | €31,937 | +€26,930 | +538% |
| Other tangible fixed assets | 26 | €1,236 | €49,098 | +€47,862 | +3,872% |
| Financial fixed assets | 28 | €800,000 | €932,924 | +€132,924 | +16.6% |
| Current assets | 29/58 | €3,374,934 | €5,507,970 | +€2.1m | +63.2% |
| Stocks and contracts in progress | 3 | €314,468 | €315,817 | +€1,348 | +0.4% |
| Stocks | 30/36 | €65,461 | €87,932 | +€22,471 | +34.3% |
| Contracts in progress | 37 | €249,007 | €227,885 | -€21,122 | -8.5% |
| Amounts receivable within one year | 40/41 | €2,781,936 | €4,599,458 | +€1.8m | +65.3% |
| Trade receivables | 40 | €1,493,410 | €1,050,998 | -€442,412 | -29.6% |
| Other amounts receivable | 41 | €1,288,526 | €3,548,460 | +€2.3m | +175% |
| Cash at bank and in hand | 54/58 | €61,081 | €316,594 | +€255,513 | +418% |
| Deferred charges and accrued income | 490/1 | €217,448 | €276,102 | +€58,653 | +27.0% |
| Total equity and liabilities | 10/49 | €4,278,999 | €6,608,823 | +€2.3m | +54.4% |
| Equity | 10/15 | €2,149,935 | €2,426,934 | +€277,000 | +12.9% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Capital | 10 | €850,000 | €850,000 | = | 0.0% |
| Issued capital | 100 | €850,000 | €850,000 | = | 0.0% |
| Reserves | 13 | €67,500 | €81,350 | +€13,850 | +20.5% |
| Non-distributable reserves | 130/1 | €67,500 | €81,350 | +€13,850 | +20.5% |
| Legal reserve | 130 | €67,500 | €81,350 | +€13,850 | +20.5% |
| Profit (loss) carried forward | 14 | €1,232,435 | €1,495,584 | +€263,150 | +21.4% |
| Amounts payable | 17/49 | €2,129,065 | €4,181,889 | +€2.1m | +96.4% |
| Amounts payable within one year | 42/48 | €2,068,118 | €3,454,070 | +€1.4m | +67.0% |
| Financial debts | 43 | €475,000 | €2,475,000 | +€2.0m | +421% |
| Credit institutions | 430/8 | €475,000 | €2,475,000 | +€2.0m | +421% |
| Trade debts | 44 | €1,128,909 | €384,177 | -€744,732 | -66.0% |
| Suppliers | 440/4 | €1,128,909 | €384,177 | -€744,732 | -66.0% |
| Taxes, remuneration and social security | 45 | €84,209 | €94,893 | +€10,684 | +12.7% |
| Taxes | 450/3 | €18,114 | €37,808 | +€19,694 | +109% |
| Remuneration and social security | 454/9 | €66,095 | €57,085 | -€9,010 | -13.6% |
| Other amounts payable | 47/48 | €380,000 | €500,000 | +€120,000 | +31.6% |
| Accrued charges and deferred income | 492/3 | €60,947 | €727,819 | +€666,872 | +1,094% |
| Remuneration, social security and pensions | 62 | €465,606 | €622,188 | +€156,582 | +33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,602 | €49,491 | +€8,889 | +21.9% |
| Other operating charges | 640/8 | €6,718 | €7,857 | +€1,139 | +17.0% |
| Non-recurring operating charges | 66A | - | €250 | +€250 | |
| Gross operating margin | 9900 | €621,245 | €937,896 | +€316,651 | +51.0% |
| Operating profit (loss) | 9901 | €108,319 | €258,110 | +€149,791 | +138% |
| Financial income | 75/76B | €44,184 | €155,345 | +€111,161 | +252% |
| Recurring financial income | 75 | €44,184 | €155,345 | +€111,161 | +252% |
| Financial charges | 65/66B | €54,577 | €99,695 | +€45,119 | +82.7% |
| Recurring financial charges | 65 | €54,577 | €99,695 | +€45,119 | +82.7% |
| Profit (loss) for the period before taxes | 9903 | €97,926 | €313,760 | +€215,833 | +220% |
| Income taxes | 67/77 | €869 | €36,760 | +€35,891 | +4,130% |
| Profit (loss) for the period | 9904 | €97,057 | €277,000 | +€179,942 | +185% |
| Profit (loss) for the period to be appropriated | 9905 | €97,057 | €277,000 | +€179,942 | +185% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.