ARBOTH: 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.
ARBOTH
Largest movements
- Receivables within one year -€55,004
down €55,004 (-32.9%), from €167,377 to €112,372
of which Trade receivables: -€49,454
- Cash +€11,312
up €11,312 (+8.1%), from €140,408 to €151,721
mainly Receivables within one year (+€55,004) and Net result for the year (+€17,068)
- Trade debts -€41,365
down €41,365 (-81.2%), from €50,918 to €9,553
- Accrued charges and deferred income -€28,667
no longer reported in 2025 (was €28,667)
- Reserves +€17,068
up €17,068 (+10.9%), from €157,257 to €174,325
of which Distributable reserves: +€17,068
- Tax, wage and social debts +€7,832
up €7,832 (+89.9%), from €8,709 to €16,540
of which Taxes: +€6,402
- Gross operating margin +€55,513
up €55,513 (+271.5%), from €20,449 to €75,962
- Staff costs +€48,336
up €48,336 (+72795.3%), from €66 to €48,402
- Taxes +€2,044
up €2,044 (+48.7%), from €4,198 to €6,242
- Financial charges -€1,846
down €1,846 (-56.6%), from €3,261 to €1,415
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 | €326,246 | €281,737 | -€44,509 | -13.6% |
| Fixed assets | 21/28 | €17,492 | €15,759 | -€1,734 | -9.9% |
| Tangible fixed assets | 22/27 | €17,492 | €15,759 | -€1,734 | -9.9% |
| Plant, machinery and equipment | 23 | €2,045 | €475 | -€1,570 | -76.8% |
| Furniture and vehicles | 24 | €15,447 | €15,284 | -€164 | -1.1% |
| Current assets | 29/58 | €308,754 | €265,978 | -€42,775 | -13.9% |
| Amounts receivable within one year | 40/41 | €167,377 | €112,372 | -€55,004 | -32.9% |
| Trade receivables | 40 | €161,826 | €112,372 | -€49,454 | -30.6% |
| Other amounts receivable | 41 | €5,550 | - | -€5,550 | |
| Cash at bank and in hand | 54/58 | €140,408 | €151,721 | +€11,312 | +8.1% |
| Deferred charges and accrued income | 490/1 | €969 | €1,886 | +€916 | +94.6% |
| Total equity and liabilities | 10/49 | €326,246 | €281,737 | -€44,509 | -13.6% |
| Equity | 10/15 | €237,823 | €254,891 | +€17,068 | +7.2% |
| Contributions | 10/11 | €80,565 | €80,565 | = | 0.0% |
| Capital | 10 | €80,565 | €80,565 | = | 0.0% |
| Issued capital | 100 | €80,565 | €80,565 | = | 0.0% |
| Reserves | 13 | €157,257 | €174,325 | +€17,068 | +10.9% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Legal reserve | 130 | €8,057 | €8,057 | = | 0.0% |
| Distributable reserves | 133 | €149,201 | €166,269 | +€17,068 | +11.4% |
| Amounts payable | 17/49 | €88,423 | €26,847 | -€61,577 | -69.6% |
| Amounts payable within one year | 42/48 | €59,756 | €26,847 | -€32,910 | -55.1% |
| Trade debts | 44 | €50,918 | €9,553 | -€41,365 | -81.2% |
| Suppliers | 440/4 | €50,918 | €9,553 | -€41,365 | -81.2% |
| Taxes, remuneration and social security | 45 | €8,709 | €16,540 | +€7,832 | +89.9% |
| Taxes | 450/3 | €8,709 | €15,111 | +€6,402 | +73.5% |
| Remuneration and social security | 454/9 | - | €1,429 | +€1,429 | |
| Other amounts payable | 47/48 | €129 | €753 | +€624 | +483.2% |
| Accrued charges and deferred income | 492/3 | €28,667 | - | -€28,667 | |
| Non-recurring operating income | 76A | €8,711 | - | -€8,711 | |
| Remuneration, social security and pensions | 62 | €66 | €48,402 | +€48,336 | +72795.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,845 | €1,734 | -€112 | -6.0% |
| Other operating charges | 640/8 | €1,275 | €1,799 | +€524 | +41.1% |
| Gross operating margin | 9900 | €20,449 | €75,962 | +€55,513 | +271.5% |
| Operating profit (loss) | 9901 | €17,262 | €24,027 | +€6,765 | +39.2% |
| Financial income | 75/76B | €496 | €698 | +€202 | +40.8% |
| Recurring financial income | 75 | €496 | €698 | +€202 | +40.8% |
| Financial charges | 65/66B | €3,261 | €1,415 | -€1,846 | -56.6% |
| Recurring financial charges | 65 | €3,261 | €1,415 | -€1,846 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | €14,496 | €23,310 | +€8,814 | +60.8% |
| Income taxes | 67/77 | €4,198 | €6,242 | +€2,044 | +48.7% |
| Profit (loss) for the period | 9904 | €10,298 | €17,068 | +€6,770 | +65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,298 | €17,068 | +€6,770 | +65.7% |
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 10 October 2026 via checked.be.