ARBORADO: 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.
ARBORADO
Largest movements
- Tangible fixed assets +€47,495
up €47,495 (+49.3%), from €96,374 to €143,868
of which Furniture and vehicles: +€65,696
- Cash -€37,294
down €37,294 (-40.0%), from €93,286 to €55,993
mainly Investment in fixed assets (net) (-€91,951) and Contributions, distributions and other (-€52,948)
- Receivables within one year +€20,558
up €20,558 (+196.8%), from €10,448 to €31,006
of which Other amounts receivable: +€23,880
- Profit (loss) carried forward -€59,233
down €59,233, from €52,948 to -€6,285
- Debts after one year +€30,354
up €30,354 (+57.8%), from €52,543 to €82,897
- Other debts +€23,836
up €23,836 (+49.3%), from €48,373 to €72,209
- Current portion of long-term debt +€21,230
up €21,230 (+114.1%), from €18,609 to €39,839
- Tax, wage and social debts +€14,112
up €14,112 (+124.7%), from €11,319 to €25,430
- Gross operating margin -€53,179
down €53,179 (-51.2%), from €103,819 to €50,640
- Taxes -€11,358
down €11,358 (-99.0%), from €11,478 to €120
- Depreciation -€10,764
down €10,764 (-19.5%), from €55,221 to €44,457
- Financial charges +€5,254
up €5,254 (+190.8%), from €2,755 to €8,009
of which Non-recurring financial charges: +€2,885
- Staff costs +€2,291
up €2,291 (+96.3%), from €2,379 to €4,671
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 | €205,602 | €235,393 | +€29,791 | +14.5% |
| Fixed assets | 21/28 | €96,374 | €143,868 | +€47,495 | +49.3% |
| Tangible fixed assets | 22/27 | €96,374 | €143,868 | +€47,495 | +49.3% |
| Land and buildings | 22 | €4,493 | €3,885 | -€608 | -13.5% |
| Plant, machinery and equipment | 23 | €12,464 | €2,821 | -€9,643 | -77.4% |
| Furniture and vehicles | 24 | €40,334 | €106,030 | +€65,696 | +162.9% |
| Leasing and similar rights | 25 | €39,082 | €31,132 | -€7,950 | -20.3% |
| Current assets | 29/58 | €109,228 | €91,524 | -€17,704 | -16.2% |
| Stocks and contracts in progress | 3 | €3,272 | €1,650 | -€1,622 | -49.6% |
| Stocks | 30/36 | €3,272 | €1,650 | -€1,622 | -49.6% |
| Amounts receivable within one year | 40/41 | €10,448 | €31,006 | +€20,558 | +196.8% |
| Trade receivables | 40 | €9,426 | €6,104 | -€3,322 | -35.2% |
| Other amounts receivable | 41 | €1,022 | €24,902 | +€23,880 | +2337.4% |
| Cash at bank and in hand | 54/58 | €93,286 | €55,993 | -€37,294 | -40.0% |
| Deferred charges and accrued income | 490/1 | €2,222 | €2,875 | +€653 | +29.4% |
| Total equity and liabilities | 10/49 | €205,602 | €235,393 | +€29,791 | +14.5% |
| Equity | 10/15 | €72,448 | €13,215 | -€59,233 | -81.8% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,948 | -€6,285 | -€59,233 | |
| Amounts payable | 17/49 | €133,154 | €222,177 | +€89,023 | +66.9% |
| Amounts payable after more than one year | 17 | €52,543 | €82,897 | +€30,354 | +57.8% |
| Financial debts | 170/4 | €52,543 | €82,897 | +€30,354 | +57.8% |
| Amounts payable within one year | 42/48 | €80,611 | €139,281 | +€58,670 | +72.8% |
| Current portion of amounts payable after more than one year | 42 | €18,609 | €39,839 | +€21,230 | +114.1% |
| Trade debts | 44 | €2,310 | €1,803 | -€507 | -22.0% |
| Suppliers | 440/4 | €2,310 | €1,803 | -€507 | -22.0% |
| Taxes, remuneration and social security | 45 | €11,319 | €25,430 | +€14,112 | +124.7% |
| Taxes | 450/3 | €11,319 | €25,430 | +€14,112 | +124.7% |
| Other amounts payable | 47/48 | €48,373 | €72,209 | +€23,836 | +49.3% |
| Remuneration, social security and pensions | 62 | €2,379 | €4,671 | +€2,291 | +96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,221 | €44,457 | -€10,764 | -19.5% |
| Other operating charges | 640/8 | €345 | €435 | +€91 | +26.3% |
| Gross operating margin | 9900 | €103,819 | €50,640 | -€53,179 | -51.2% |
| Operating profit (loss) | 9901 | €45,875 | €1,077 | -€44,797 | -97.7% |
| Financial income | 75/76B | €647 | €767 | +€120 | +18.6% |
| Recurring financial income | 75 | €647 | €767 | +€120 | +18.6% |
| Financial charges | 65/66B | €2,755 | €8,009 | +€5,254 | +190.8% |
| Recurring financial charges | 65 | €2,755 | €5,124 | +€2,369 | +86.0% |
| Non-recurring financial charges | 66B | - | €2,885 | +€2,885 | |
| Profit (loss) for the period before taxes | 9903 | €43,767 | -€6,165 | -€49,932 | |
| Income taxes | 67/77 | €11,478 | €120 | -€11,358 | -99.0% |
| Profit (loss) for the period | 9904 | €32,288 | -€6,285 | -€38,573 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,288 | -€6,285 | -€38,573 |
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 1 October 2026 via checked.be.