ARENA PROJECTS: 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.
ARENA PROJECTS
Largest movements
- Cash +€16,825
up €16,825 (+156.2%), from €10,774 to €27,599
mainly Net result for the year (+€15,670) and Depreciation (+€6,729)
- Tangible fixed assets -€6,729
down €6,729 (-32.3%), from €20,861 to €14,132
- Reserves +€8,301
up €8,301 (+20.0%), from €41,536 to €49,837
- Tax, wage and social debts +€2,879
up €2,879 (+99.7%), from €2,887 to €5,766
- Debts after one year -€2,625
down €2,625 (-54.8%), from €4,794 to €2,169
- Trade debts +€1,079
up €1,079 (+61.9%), from €1,744 to €2,822
- Gross operating margin +€12,786
up €12,786 (+79.0%), from €16,193 to €28,980
- Depreciation -€5,063
down €5,063 (-42.9%), from €11,792 to €6,729
- Taxes +€2,812
up €2,812 (+132.8%), from €2,117 to €4,929
- Other operating charges +€492
up €492 (+40.9%), from €1,205 to €1,697
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 | €72,031 | €81,770 | +€9,739 | +13.5% |
| Fixed assets | 21/28 | €20,861 | €14,132 | -€6,729 | -32.3% |
| Tangible fixed assets | 22/27 | €20,861 | €14,132 | -€6,729 | -32.3% |
| Plant, machinery and equipment | 23 | €4,374 | €2,715 | -€1,660 | -37.9% |
| Furniture and vehicles | 24 | €7,780 | €5,824 | -€1,957 | -25.2% |
| Leasing and similar rights | 25 | €8,707 | €5,594 | -€3,113 | -35.7% |
| Current assets | 29/58 | €51,170 | €67,638 | +€16,468 | +32.2% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,549 | €8,234 | -€316 | -3.7% |
| Other amounts receivable | 41 | €8,549 | €8,234 | -€316 | -3.7% |
| Cash at bank and in hand | 54/58 | €10,774 | €27,599 | +€16,825 | +156.2% |
| Deferred charges and accrued income | 490/1 | €1,847 | €1,806 | -€41 | -2.2% |
| Total equity and liabilities | 10/49 | €72,031 | €81,770 | +€9,739 | +13.5% |
| Equity | 10/15 | €60,086 | €68,387 | +€8,301 | +13.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €41,536 | €49,837 | +€8,301 | +20.0% |
| Distributable reserves | 133 | €41,536 | €49,837 | +€8,301 | +20.0% |
| Amounts payable | 17/49 | €11,946 | €13,383 | +€1,437 | +12.0% |
| Amounts payable after more than one year | 17 | €4,794 | €2,169 | -€2,625 | -54.8% |
| Financial debts | 170/4 | €4,794 | €2,169 | -€2,625 | -54.8% |
| Amounts payable within one year | 42/48 | €7,151 | €11,214 | +€4,063 | +56.8% |
| Current portion of amounts payable after more than one year | 42 | €2,520 | €2,625 | +€105 | +4.2% |
| Trade debts | 44 | €1,744 | €2,822 | +€1,079 | +61.9% |
| Suppliers | 440/4 | €1,744 | €2,822 | +€1,079 | +61.9% |
| Taxes, remuneration and social security | 45 | €2,887 | €5,766 | +€2,879 | +99.7% |
| Taxes | 450/3 | €2,887 | €5,766 | +€2,879 | +99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,792 | €6,729 | -€5,063 | -42.9% |
| Other operating charges | 640/8 | €1,205 | €1,697 | +€492 | +40.9% |
| Gross operating margin | 9900 | €16,193 | €28,980 | +€12,786 | +79.0% |
| Operating profit (loss) | 9901 | €3,197 | €20,554 | +€17,357 | +542.9% |
| Financial income | 75/76B | €495 | €505 | +€10 | +2.0% |
| Recurring financial income | 75 | €495 | €505 | +€10 | +2.0% |
| Financial charges | 65/66B | €552 | €460 | -€92 | -16.7% |
| Recurring financial charges | 65 | €552 | €460 | -€92 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €3,139 | €20,598 | +€17,459 | +556.1% |
| Income taxes | 67/77 | €2,117 | €4,929 | +€2,812 | +132.8% |
| Profit (loss) for the period | 9904 | €1,022 | €15,670 | +€14,647 | +1432.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,022 | €15,670 | +€14,647 | +1432.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.