ARBRERO: 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.
ARBRERO
Largest movements
- Receivables within one year -€21,129
down €21,129 (-21.1%), from €100,087 to €78,958
of which Other amounts receivable: -€21,129
- Tangible fixed assets -€15,879
down €15,879 (-3.7%), from €426,324 to €410,445
of which Land and buildings: -€10,476
- Cash -€12,224
down €12,224 (-74.4%), from €16,422 to €4,197
mainly Net result for the year (-€28,648) and Tax, wage and social debts (-€21,646)
- Profit (loss) carried forward -€22,719
down €22,719 (-55.5%), from -€40,971 to -€63,689
- Tax, wage and social debts -€21,646
down €21,646 (-95.8%), from €22,607 to €961
- Reserves -€5,930
down €5,930 (-3.3%), from €177,931 to €172,001
- Gross operating margin -€2,683
down €2,683 (-28.8%), from -€9,314 to -€11,997
- Other operating charges +€871
up €871 (+62.7%), from €1,390 to €2,261
- Financial charges -€138
down €138 (-28.7%), from €481 to €343
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 | €543,812 | €494,311 | -€49,501 | -9.1% |
| Fixed assets | 21/28 | €426,624 | €410,745 | -€15,879 | -3.7% |
| Tangible fixed assets | 22/27 | €426,324 | €410,445 | -€15,879 | -3.7% |
| Land and buildings | 22 | €414,671 | €404,195 | -€10,476 | -2.5% |
| Plant, machinery and equipment | 23 | €6,100 | €5,023 | -€1,077 | -17.6% |
| Furniture and vehicles | 24 | €5,553 | €1,226 | -€4,327 | -77.9% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €117,188 | €83,566 | -€33,622 | -28.7% |
| Amounts receivable within one year | 40/41 | €100,087 | €78,958 | -€21,129 | -21.1% |
| Trade receivables | 40 | €44,759 | €44,759 | = | 0.0% |
| Other amounts receivable | 41 | €55,328 | €34,199 | -€21,129 | -38.2% |
| Cash at bank and in hand | 54/58 | €16,422 | €4,197 | -€12,224 | -74.4% |
| Deferred charges and accrued income | 490/1 | €679 | €411 | -€268 | -39.5% |
| Total equity and liabilities | 10/49 | €543,812 | €494,311 | -€49,501 | -9.1% |
| Equity | 10/15 | €149,360 | €120,712 | -€28,648 | -19.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €177,931 | €172,001 | -€5,930 | -3.3% |
| Tax-exempt reserves | 132 | €177,931 | €172,001 | -€5,930 | -3.3% |
| Profit (loss) carried forward | 14 | -€40,971 | -€63,689 | -€22,719 | -55.5% |
| Provisions and deferred taxes | 16 | €59,310 | €57,334 | -€1,977 | -3.3% |
| Deferred taxes | 168 | €59,310 | €57,334 | -€1,977 | -3.3% |
| Amounts payable | 17/49 | €335,142 | €316,266 | -€18,876 | -5.6% |
| Amounts payable after more than one year | 17 | €310,429 | €309,911 | -€517 | -0.2% |
| Other amounts payable | 178/9 | €310,429 | €309,911 | -€517 | -0.2% |
| Amounts payable within one year | 42/48 | €24,713 | €6,355 | -€18,359 | -74.3% |
| Trade debts | 44 | €2,106 | €5,394 | +€3,288 | +156.1% |
| Suppliers | 440/4 | €2,106 | €5,394 | +€3,288 | +156.1% |
| Taxes, remuneration and social security | 45 | €22,607 | €961 | -€21,646 | -95.8% |
| Taxes | 450/3 | €22,607 | €961 | -€21,646 | -95.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,888 | €15,879 | -€8 | -0.1% |
| Other operating charges | 640/8 | €1,390 | €2,261 | +€871 | +62.7% |
| Gross operating margin | 9900 | -€9,314 | -€11,997 | -€2,683 | -28.8% |
| Operating profit (loss) | 9901 | -€26,592 | -€30,137 | -€3,545 | -13.3% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €481 | €343 | -€138 | -28.7% |
| Recurring financial charges | 65 | €481 | €343 | -€138 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | -€27,073 | -€30,479 | -€3,406 | -12.6% |
| Transfer from deferred taxes | 780 | €1,977 | €1,977 | = | 0.0% |
| Income taxes | 67/77 | €144 | €146 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€25,241 | -€28,648 | -€3,407 | -13.5% |
| Transfer from tax-exempt reserves | 789 | €5,930 | €5,930 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,312 | -€22,719 | -€3,407 | -17.6% |
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.