ARBORIZON: 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.
ARBORIZON
Largest movements
- Tangible fixed assets -€19,990
down €19,990 (-33.5%), from €59,663 to €39,673
- Cash +€11,788
up €11,788 (+244%), from €4,833 to €16,621
mainly Depreciation (+€24,357) and Receivables within one year (+€9,059)
- Receivables within one year -€9,059
down €9,059 (-48.6%), from €18,643 to €9,584
of which Trade receivables: -€5,998
- Financial fixed assets +€2,284
new in 2025: €2,284
- Debts after one year -€18,035
down €18,035 (-63.8%), from €28,263 to €10,228
- Other debts -€7,527
down €7,527 (-37.6%), from €19,994 to €12,467
- Profit (loss) carried forward +€3,959
up €3,959 (+45.1%), from €8,789 to €12,748
- Tax, wage and social debts +€3,074
up €3,074 (+54.7%), from €5,622 to €8,696
of which Taxes: +€4,097
- Trade debts +€3,038
up €3,038 (+212%), from €1,435 to €4,473
- Depreciation +€11,286
up €11,286 (+86.3%), from €13,071 to €24,357
- Gross operating margin +€8,772
up €8,772 (+32.5%), from €26,983 to €35,754
- Staff costs +€3,026
up €3,026 (+1,149%), from €263 to €3,290
- Taxes -€1,164
down €1,164 (-34.7%), from €3,351 to €2,187
- Financial charges +€453
up €453 (+30.0%), from €1,509 to €1,962
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.
Derived cash bridge
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 | €84,312 | €69,647 | -€14,665 | -17.4% |
| Fixed assets | 21/28 | €59,663 | €41,957 | -€17,706 | -29.7% |
| Tangible fixed assets | 22/27 | €59,663 | €39,673 | -€19,990 | -33.5% |
| Furniture and vehicles | 24 | €59,663 | €39,673 | -€19,990 | -33.5% |
| Financial fixed assets | 28 | - | €2,284 | +€2,284 | |
| Current assets | 29/58 | €24,649 | €27,690 | +€3,041 | +12.3% |
| Amounts receivable within one year | 40/41 | €18,643 | €9,584 | -€9,059 | -48.6% |
| Trade receivables | 40 | €13,268 | €7,270 | -€5,998 | -45.2% |
| Other amounts receivable | 41 | €5,375 | €2,313 | -€3,061 | -57.0% |
| Cash at bank and in hand | 54/58 | €4,833 | €16,621 | +€11,788 | +244% |
| Deferred charges and accrued income | 490/1 | €1,174 | €1,486 | +€312 | +26.6% |
| Total equity and liabilities | 10/49 | €84,312 | €69,647 | -€14,665 | -17.4% |
| Equity | 10/15 | €11,789 | €15,748 | +€3,959 | +33.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,789 | €12,748 | +€3,959 | +45.1% |
| Amounts payable | 17/49 | €72,523 | €53,899 | -€18,624 | -25.7% |
| Amounts payable after more than one year | 17 | €28,263 | €10,228 | -€18,035 | -63.8% |
| Financial debts | 170/4 | €28,263 | €10,228 | -€18,035 | -63.8% |
| Amounts payable within one year | 42/48 | €44,260 | €43,671 | -€589 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €17,209 | €18,035 | +€826 | +4.8% |
| Trade debts | 44 | €1,435 | €4,473 | +€3,038 | +212% |
| Suppliers | 440/4 | €1,435 | €4,473 | +€3,038 | +212% |
| Taxes, remuneration and social security | 45 | €5,622 | €8,696 | +€3,074 | +54.7% |
| Taxes | 450/3 | €3,822 | €7,918 | +€4,097 | +107% |
| Remuneration and social security | 454/9 | €1,800 | €777 | -€1,023 | -56.8% |
| Other amounts payable | 47/48 | €19,994 | €12,467 | -€7,527 | -37.6% |
| Remuneration, social security and pensions | 62 | €263 | €3,290 | +€3,026 | +1,149% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,071 | €24,357 | +€11,286 | +86.3% |
| Gross operating margin | 9900 | €26,983 | €35,754 | +€8,772 | +32.5% |
| Operating profit (loss) | 9901 | €13,648 | €8,108 | -€5,541 | -40.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,509 | €1,962 | +€453 | +30.0% |
| Recurring financial charges | 65 | €1,509 | €1,962 | +€453 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | €12,139 | €6,146 | -€5,993 | -49.4% |
| Income taxes | 67/77 | €3,351 | €2,187 | -€1,164 | -34.7% |
| Profit (loss) for the period | 9904 | €8,789 | €3,959 | -€4,829 | -54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,789 | €3,959 | -€4,829 | -54.9% |
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 18 October 2026 via checked.be.