ARBORETUM: 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.
ARBORETUM
Largest movements
- Receivables within one year -€725,592
down €725,592 (-44.1%), from €1.6m to €920,413
of which Trade receivables: -€773,130
- Cash -€38,503
down €38,503 (-19.7%), from €195,635 to €157,133
mainly Debts within one year (-€333,207) and Contributions, distributions and other (-€250,800)
- Tangible fixed assets +€27,891
up €27,891 (+3.9%), from €708,831 to €736,722
of which Plant, machinery and equipment: +€16,890
- Profit (loss) carried forward -€452,015
down €452,015 (-32.0%), from €1.4m to €960,921
- Debts within one year -€333,207
down €333,207 (-43.8%), from €760,596 to €427,389
of which Trade debts: -€456,748
- Debts after one year +€49,018
up €49,018 (+12.9%), from €378,846 to €427,864
- Staff costs +€100,002
up €100,002 (+4.5%), from €2.2m to €2.3m
- Financial charges +€46,689
up €46,689 (+96.0%), from €48,643 to €95,332
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 | €2,552,379 | €1,816,175 | -€736,204 | -28.8% |
| Fixed assets | 21/28 | €710,738 | €738,629 | +€27,891 | +3.9% |
| Tangible fixed assets | 22/27 | €708,831 | €736,722 | +€27,891 | +3.9% |
| Land and buildings | 22 | €54,984 | €54,984 | = | 0.0% |
| Plant, machinery and equipment | 23 | €13,933 | €30,823 | +€16,890 | +121.2% |
| Furniture and vehicles | 24 | €1,325 | €1,295 | -€30 | -2.3% |
| Leasing and similar rights | 25 | €11,403 | €9,693 | -€1,710 | -15.0% |
| Other tangible fixed assets | 26 | €627,186 | €639,927 | +€12,741 | +2.0% |
| Financial fixed assets | 28 | €1,907 | €1,907 | = | 0.0% |
| Current assets | 29/58 | €1,841,640 | €1,077,545 | -€764,095 | -41.5% |
| Amounts receivable within one year | 40/41 | €1,646,005 | €920,413 | -€725,592 | -44.1% |
| Trade receivables | 40 | €1,498,693 | €725,563 | -€773,130 | -51.6% |
| Other amounts receivable | 41 | €147,312 | €194,849 | +€47,537 | +32.3% |
| Cash at bank and in hand | 54/58 | €195,635 | €157,133 | -€38,503 | -19.7% |
| Total equity and liabilities | 10/49 | €2,552,379 | €1,816,175 | -€736,204 | -28.8% |
| Equity | 10/15 | €1,412,936 | €960,921 | -€452,015 | -32.0% |
| Profit (loss) carried forward | 14 | €1,412,936 | €960,921 | -€452,015 | -32.0% |
| Amounts payable | 17/49 | €1,139,442 | €855,253 | -€284,189 | -24.9% |
| Amounts payable after more than one year | 17 | €378,846 | €427,864 | +€49,018 | +12.9% |
| Financial debts | 170/4 | €378,846 | €427,864 | +€49,018 | +12.9% |
| Amounts payable within one year | 42/48 | €760,596 | €427,389 | -€333,207 | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €84,761 | €113,855 | +€29,094 | +34.3% |
| Trade debts | 44 | €628,835 | €172,087 | -€456,748 | -72.6% |
| Suppliers | 440/4 | €628,835 | €172,087 | -€456,748 | -72.6% |
| Taxes, remuneration and social security | 45 | - | €104,394 | +€104,394 | |
| Remuneration and social security | 454/9 | - | €104,394 | +€104,394 | |
| Remuneration, social security and pensions | 62 | €2,230,893 | €2,330,895 | +€100,002 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,274 | €152,441 | -€20,832 | -12.0% |
| Other operating charges | 640/8 | €11,048 | - | -€11,048 | |
| Gross operating margin | 9900 | €2,376,947 | €2,377,454 | +€507 | 0.0% |
| Operating profit (loss) | 9901 | -€38,268 | -€105,883 | -€67,615 | -176.7% |
| Financial charges | 65/66B | €48,643 | €95,332 | +€46,689 | +96.0% |
| Recurring financial charges | 65 | €48,643 | €95,332 | +€46,689 | +96.0% |
| Profit (loss) for the period before taxes | 9903 | -€86,911 | -€201,215 | -€114,304 | -131.5% |
| Profit (loss) for the period | 9904 | -€86,911 | -€201,215 | -€114,304 | -131.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,911 | -€201,215 | -€114,304 | -131.5% |
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 5 October 2026 via checked.be.