ARBREXI: 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.
ARBREXI
Largest movements
- Tangible fixed assets +€146,566
up €146,566 (+7.7%), from €1.9m to €2.1m
of which Land and buildings: +€163,029
- Cash +€33,694
up €33,694 (+84.5%), from €39,864 to €73,557
mainly Depreciation (+€129,513) and Debts after one year (+€123,332)
- Debts after one year +€123,332
up €123,332 (+37.9%), from €325,816 to €449,148
of which Financial debts: +€123,332
- Tax, wage and social debts +€39,575
up €39,575 (+366.8%), from €10,789 to €50,364
of which Taxes: +€39,551
- Current portion of long-term debt +€35,166
up €35,166 (+91.5%), from €38,434 to €73,600
- Gross operating margin -€18,802
down €18,802 (-9.1%), from €206,612 to €187,810
- Taxes -€12,266
down €12,266 (-56.4%), from €21,741 to €9,475
- Financial charges -€4,640
down €4,640 (-18.1%), from €25,654 to €21,014
- Depreciation +€2,831
up €2,831 (+2.2%), from €126,682 to €129,513
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 | €1,957,066 | €2,146,606 | +€189,540 | +9.7% |
| Fixed assets | 21/28 | €1,910,962 | €2,057,528 | +€146,566 | +7.7% |
| Tangible fixed assets | 22/27 | €1,910,917 | €2,057,483 | +€146,566 | +7.7% |
| Land and buildings | 22 | €1,881,646 | €2,044,674 | +€163,029 | +8.7% |
| Furniture and vehicles | 24 | €29,271 | €12,809 | -€16,462 | -56.2% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €46,104 | €89,078 | +€42,974 | +93.2% |
| Amounts receivable within one year | 40/41 | €6,241 | €15,521 | +€9,280 | +148.7% |
| Trade receivables | 40 | €5,849 | €6,936 | +€1,088 | +18.6% |
| Other amounts receivable | 41 | €392 | €8,584 | +€8,193 | +2092.0% |
| Cash at bank and in hand | 54/58 | €39,864 | €73,557 | +€33,694 | +84.5% |
| Total equity and liabilities | 10/49 | €1,957,066 | €2,146,606 | +€189,540 | +9.7% |
| Equity | 10/15 | €1,341,764 | €1,359,938 | +€18,173 | +1.4% |
| Contributions | 10/11 | €158,600 | €158,600 | = | 0.0% |
| Reserves | 13 | €1,183,164 | €1,201,338 | +€18,173 | +1.5% |
| Tax-exempt reserves | 132 | €402,925 | €362,291 | -€40,634 | -10.1% |
| Distributable reserves | 133 | €780,239 | €839,046 | +€58,807 | +7.5% |
| Provisions and deferred taxes | 16 | €134,308 | €120,764 | -€13,545 | -10.1% |
| Deferred taxes | 168 | €134,308 | €120,764 | -€13,545 | -10.1% |
| Amounts payable | 17/49 | €480,994 | €665,905 | +€184,911 | +38.4% |
| Amounts payable after more than one year | 17 | €325,816 | €449,148 | +€123,332 | +37.9% |
| Financial debts | 170/4 | €181,904 | €305,237 | +€123,332 | +67.8% |
| Other amounts payable | 178/9 | €143,912 | €143,912 | = | 0.0% |
| Amounts payable within one year | 42/48 | €155,178 | €216,496 | +€61,318 | +39.5% |
| Current portion of amounts payable after more than one year | 42 | €38,434 | €73,600 | +€35,166 | +91.5% |
| Financial debts | 43 | €6,819 | €6,743 | -€76 | -1.1% |
| Credit institutions | 430/8 | €6,819 | €6,743 | -€76 | -1.1% |
| Trade debts | 44 | €4,133 | €7,037 | +€2,904 | +70.3% |
| Suppliers | 440/4 | €4,133 | €7,037 | +€2,904 | +70.3% |
| Taxes, remuneration and social security | 45 | €10,789 | €50,364 | +€39,575 | +366.8% |
| Taxes | 450/3 | €7,734 | €47,285 | +€39,551 | +511.4% |
| Remuneration and social security | 454/9 | €3,055 | €3,079 | +€24 | +0.8% |
| Other amounts payable | 47/48 | €95,002 | €78,752 | -€16,251 | -17.1% |
| Accrued charges and deferred income | 492/3 | - | €261 | +€261 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,682 | €129,513 | +€2,831 | +2.2% |
| Other operating charges | 640/8 | €21,505 | €23,375 | +€1,871 | +8.7% |
| Gross operating margin | 9900 | €206,612 | €187,810 | -€18,802 | -9.1% |
| Operating profit (loss) | 9901 | €58,425 | €34,922 | -€23,503 | -40.2% |
| Financial income | 75/76B | €180 | €196 | +€16 | +9.0% |
| Recurring financial income | 75 | €180 | €196 | +€16 | +9.0% |
| Financial charges | 65/66B | €25,654 | €21,014 | -€4,640 | -18.1% |
| Recurring financial charges | 65 | €25,654 | €21,014 | -€4,640 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €32,950 | €14,103 | -€18,847 | -57.2% |
| Transfer from deferred taxes | 780 | €13,545 | €13,545 | +€0 | 0.0% |
| Income taxes | 67/77 | €21,741 | €9,475 | -€12,266 | -56.4% |
| Profit (loss) for the period | 9904 | €24,754 | €18,173 | -€6,581 | -26.6% |
| Transfer from tax-exempt reserves | 789 | €40,634 | €40,634 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,388 | €58,807 | -€6,581 | -10.1% |
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 30 September 2026 via checked.be.