ARENA COMET: 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.
ARENA COMET
Largest movements
- Stocks and contracts +€850,310
up €850,310 (+208%), from €407,942 to €1.3m
- Cash -€747,943
down €747,943 (-70.5%), from €1.1m to €313,158
mainly Stocks and contracts (-€850,310) and Contributions, distributions and other (-€400,000)
- Receivables after one year -€285,725
no longer reported in 2025 (was €285,725)
- Receivables within one year -€278,687
down €278,687 (-16.4%), from €1.7m to €1.4m
of which Other amounts receivable: -€205,012
- Trade debts -€357,536
down €357,536 (-50.0%), from €715,120 to €357,584
- Reserves -€185,000
down €185,000 (-7.7%), from €2.4m to €2.2m
of which Distributable reserves: -€185,000
- Advances received +€88,871
up €88,871 (+118%), from €75,467 to €164,338
- Gross operating margin +€67,454
up €67,454 (+10.3%), from €656,764 to €724,218
- Write-downs +€28,425
up €28,425 (+534%), from €5,319 to €33,744
- Financial charges +€22,114
up €22,114 (+102%), from €21,754 to €43,868
- Depreciation -€8,195
down €8,195 (-20.5%), from €40,056 to €31,861
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 | €3,543,054 | €3,110,506 | -€432,547 | -12.2% |
| Fixed assets | 21/28 | €82,098 | €109,324 | +€27,225 | +33.2% |
| Tangible fixed assets | 22/27 | €82,098 | €109,324 | +€27,225 | +33.2% |
| Land and buildings | 22 | €35,895 | €30,792 | -€5,103 | -14.2% |
| Plant, machinery and equipment | 23 | €15,747 | €12,958 | -€2,789 | -17.7% |
| Furniture and vehicles | 24 | €30,456 | €65,573 | +€35,117 | +115% |
| Current assets | 29/58 | €3,460,955 | €3,001,183 | -€459,773 | -13.3% |
| Amounts receivable after more than one year | 29 | €285,725 | - | -€285,725 | |
| Other amounts receivable | 291 | €285,725 | - | -€285,725 | |
| Stocks and contracts in progress | 3 | €407,942 | €1,258,252 | +€850,310 | +208% |
| Stocks | 30/36 | €407,942 | €1,258,252 | +€850,310 | +208% |
| Amounts receivable within one year | 40/41 | €1,702,929 | €1,424,242 | -€278,687 | -16.4% |
| Trade receivables | 40 | €465,131 | €391,456 | -€73,675 | -15.8% |
| Other amounts receivable | 41 | €1,237,798 | €1,032,786 | -€205,012 | -16.6% |
| Cash at bank and in hand | 54/58 | €1,061,101 | €313,158 | -€747,943 | -70.5% |
| Deferred charges and accrued income | 490/1 | €3,258 | €5,531 | +€2,273 | +69.8% |
| Total equity and liabilities | 10/49 | €3,543,054 | €3,110,506 | -€432,547 | -12.2% |
| Equity | 10/15 | €2,575,759 | €2,390,999 | -€184,760 | -7.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,400,000 | €2,215,000 | -€185,000 | -7.7% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €2,385,000 | €2,200,000 | -€185,000 | -7.8% |
| Profit (loss) carried forward | 14 | €25,759 | €25,999 | +€240 | +0.9% |
| Amounts payable | 17/49 | €967,294 | €719,507 | -€247,787 | -25.6% |
| Amounts payable within one year | 42/48 | €917,091 | €637,581 | -€279,510 | -30.5% |
| Financial debts | 43 | €10,038 | €10,015 | -€22 | -0.2% |
| Credit institutions | 430/8 | €10,038 | €10,015 | -€22 | -0.2% |
| Trade debts | 44 | €715,120 | €357,584 | -€357,536 | -50.0% |
| Suppliers | 440/4 | €715,120 | €357,584 | -€357,536 | -50.0% |
| Advances received on contracts in progress | 46 | €75,467 | €164,338 | +€88,871 | +118% |
| Taxes, remuneration and social security | 45 | €71,972 | €39,888 | -€32,084 | -44.6% |
| Taxes | 450/3 | €23,097 | €2,416 | -€20,681 | -89.5% |
| Remuneration and social security | 454/9 | €48,875 | €37,473 | -€11,403 | -23.3% |
| Other amounts payable | 47/48 | €44,494 | €65,755 | +€21,261 | +47.8% |
| Accrued charges and deferred income | 492/3 | €50,204 | €81,926 | +€31,723 | +63.2% |
| Non-recurring operating income | 76A | - | €9,750 | +€9,750 | |
| Remuneration, social security and pensions | 62 | €336,208 | €336,212 | +€5 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,056 | €31,861 | -€8,195 | -20.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,319 | €33,744 | +€28,425 | +534% |
| Other operating charges | 640/8 | €5,988 | €5,679 | -€309 | -5.2% |
| Gross operating margin | 9900 | €656,764 | €724,218 | +€67,454 | +10.3% |
| Operating profit (loss) | 9901 | €269,193 | €316,722 | +€47,529 | +17.7% |
| Financial income | 75/76B | €25,033 | €20,038 | -€4,996 | -20.0% |
| Recurring financial income | 75 | €25,033 | €20,038 | -€4,996 | -20.0% |
| Financial charges | 65/66B | €21,754 | €43,868 | +€22,114 | +102% |
| Recurring financial charges | 65 | €21,754 | €43,868 | +€22,114 | +102% |
| Profit (loss) for the period before taxes | 9903 | €272,472 | €292,892 | +€20,419 | +7.5% |
| Income taxes | 67/77 | €74,190 | €77,652 | +€3,462 | +4.7% |
| Profit (loss) for the period | 9904 | €198,283 | €215,240 | +€16,957 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €198,283 | €215,240 | +€16,957 | +8.6% |
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 15 October 2026 via checked.be.