ARBRA: 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.
ARBRA
Largest movements
- Current investments +€1.0m
up €1.0m (+90.9%), from €1.1m to €2.2m
- Receivables within one year -€527,140
down €527,140 (-95.5%), from €552,246 to €25,106
of which Trade receivables: -€527,350
- Cash -€50,983
down €50,983 (-71.7%), from €71,087 to €20,104
mainly Current investments (-€1.0m) and Smaller working-capital items (-€880)
- Reserves +€446,784
up €446,784 (+28.8%), from €1.6m to €2.0m
of which Distributable reserves: +€446,784
- Financial income +€25,044
up €25,044 (+140%), from €17,828 to €42,872
- Gross operating margin -€15,981
down €15,981 (-2.5%), from €633,830 to €617,850
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 | €1,774,905 | €2,225,356 | +€450,451 | +25.4% |
| Fixed assets | 21/28 | €12,729 | €6,949 | -€5,780 | -45.4% |
| Tangible fixed assets | 22/27 | €12,729 | €6,949 | -€5,780 | -45.4% |
| Furniture and vehicles | 24 | €12,729 | €6,949 | -€5,780 | -45.4% |
| Current assets | 29/58 | €1,762,176 | €2,218,408 | +€456,231 | +25.9% |
| Amounts receivable within one year | 40/41 | €552,246 | €25,106 | -€527,140 | -95.5% |
| Trade receivables | 40 | €543,007 | €15,657 | -€527,350 | -97.1% |
| Other amounts receivable | 41 | €9,239 | €9,449 | +€210 | +2.3% |
| Current investments | 50/53 | €1,138,242 | €2,172,833 | +€1.0m | +90.9% |
| Cash at bank and in hand | 54/58 | €71,087 | €20,104 | -€50,983 | -71.7% |
| Deferred charges and accrued income | 490/1 | €602 | €365 | -€237 | -39.4% |
| Total equity and liabilities | 10/49 | €1,774,905 | €2,225,356 | +€450,451 | +25.4% |
| Equity | 10/15 | €1,571,893 | €2,018,677 | +€446,784 | +28.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,553,293 | €2,000,077 | +€446,784 | +28.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,551,433 | €1,998,217 | +€446,784 | +28.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €203,012 | €206,679 | +€3,667 | +1.8% |
| Amounts payable within one year | 42/48 | €200,124 | €203,705 | +€3,581 | +1.8% |
| Trade debts | 44 | €793 | €2,039 | +€1,246 | +157% |
| Suppliers | 440/4 | €793 | €2,039 | +€1,246 | +157% |
| Taxes, remuneration and social security | 45 | €167,344 | €164,895 | -€2,449 | -1.5% |
| Taxes | 450/3 | €167,344 | €164,895 | -€2,449 | -1.5% |
| Other amounts payable | 47/48 | €31,986 | €36,770 | +€4,784 | +15.0% |
| Accrued charges and deferred income | 492/3 | €2,888 | €2,975 | +€86 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,000 | €5,780 | -€220 | -3.7% |
| Other operating charges | 640/8 | €1,712 | €1,813 | +€101 | +5.9% |
| Gross operating margin | 9900 | €633,830 | €617,850 | -€15,981 | -2.5% |
| Operating profit (loss) | 9901 | €626,118 | €610,256 | -€15,862 | -2.5% |
| Financial income | 75/76B | €17,828 | €42,872 | +€25,044 | +140% |
| Recurring financial income | 75 | €17,828 | €42,872 | +€25,044 | +140% |
| Financial charges | 65/66B | €3,171 | €3,252 | +€82 | +2.6% |
| Recurring financial charges | 65 | €3,171 | €3,252 | +€82 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €640,776 | €649,875 | +€9,100 | +1.4% |
| Income taxes | 67/77 | €199,988 | €203,091 | +€3,103 | +1.6% |
| Profit (loss) for the period | 9904 | €440,787 | €446,784 | +€5,997 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €440,787 | €446,784 | +€5,997 | +1.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.