ARENARIA: what changed
ARENARIA
Largest movements
- Deferred charges and accrued income +€99,134
up €99,134 (+17,524%), from €566 to €99,700
- Receivables within one year -€91,844
down €91,844 (-29.5%), from €311,069 to €219,225
of which Other amounts receivable: -€82,755
- Receivables after one year +€25,000
up €25,000 (+100%), from €25,000 to €50,000
- Cash +€18,281
up €18,281 (+164%), from €11,159 to €29,440
mainly Receivables within one year (+€91,844) and Net result for the year (+€61,438)
- Profit (loss) carried forward +€61,438
up €61,438 (+62.5%), from €98,266 to €159,704
- Short-term financial debts -€53,114
no longer reported in 2025 (was €53,114)
- Trade debts +€38,993
up €38,993 (+77.2%), from €50,529 to €89,523
- Current portion of long-term debt +€21,876
new in 2025: €21,876
- Debts after one year -€14,666
down €14,666 (-54.2%), from €27,080 to €12,414
- Gross operating margin -€45,740
down €45,740 (-38.6%), from €118,530 to €72,790
- Taxes -€15,000
no longer reported in 2025 (was €15,000)
- Depreciation +€4,077
up €4,077 (+129%), from €3,158 to €7,234
- Financial charges +€1,775
up €1,775 (+134%), from €1,323 to €3,099
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €896,793 | €940,130 | +€43,337 | +4.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €544,615 | €537,381 | -€7,234 | -1.3% |
| Tangible fixed assets | 22/27 | €32,155 | €24,921 | -€7,234 | -22.5% |
| Furniture and vehicles | 24 | €32,155 | €24,921 | -€7,234 | -22.5% |
| Financial fixed assets | 28 | €512,460 | €512,460 | = | 0.0% |
| Current assets | 29/58 | €352,178 | €402,749 | +€50,571 | +14.4% |
| Amounts receivable after more than one year | 29 | €25,000 | €50,000 | +€25,000 | +100% |
| Trade receivables | 290 | €25,000 | €50,000 | +€25,000 | +100% |
| Amounts receivable within one year | 40/41 | €311,069 | €219,225 | -€91,844 | -29.5% |
| Trade receivables | 40 | €37,191 | €28,102 | -€9,089 | -24.4% |
| Other amounts receivable | 41 | €273,878 | €191,123 | -€82,755 | -30.2% |
| Current investments | 50/53 | €4,384 | €4,384 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,159 | €29,440 | +€18,281 | +164% |
| Deferred charges and accrued income | 490/1 | €566 | €99,700 | +€99,134 | +17,524% |
| Total equity and liabilities | 10/49 | €896,793 | €940,130 | +€43,337 | +4.8% |
| Equity | 10/15 | €752,550 | €813,988 | +€61,438 | +8.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €641,884 | €641,884 | = | 0.0% |
| 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 | €640,024 | €640,024 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,266 | €159,704 | +€61,438 | +62.5% |
| Amounts payable | 17/49 | €144,243 | €126,142 | -€18,101 | -12.5% |
| Amounts payable after more than one year | 17 | €27,080 | €12,414 | -€14,666 | -54.2% |
| Financial debts | 170/4 | €27,080 | €12,414 | -€14,666 | -54.2% |
| Amounts payable within one year | 42/48 | €117,031 | €113,728 | -€3,303 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | - | €21,876 | +€21,876 | |
| Financial debts | 43 | €53,114 | - | -€53,114 | |
| Credit institutions | 430/8 | €53,114 | - | -€53,114 | |
| Trade debts | 44 | €50,529 | €89,523 | +€38,993 | +77.2% |
| Suppliers | 440/4 | €50,529 | €89,523 | +€38,993 | +77.2% |
| Taxes, remuneration and social security | 45 | €13,388 | €2,330 | -€11,058 | -82.6% |
| Taxes | 450/3 | €13,388 | €2,330 | -€11,058 | -82.6% |
| Accrued charges and deferred income | 492/3 | €132 | - | -€132 | |
| Non-recurring operating income | 76A | €25,965 | - | -€25,965 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,158 | €7,234 | +€4,077 | +129% |
| Other operating charges | 640/8 | €783 | €1,019 | +€236 | +30.2% |
| Gross operating margin | 9900 | €118,530 | €72,790 | -€45,740 | -38.6% |
| Operating profit (loss) | 9901 | €114,590 | €64,537 | -€50,053 | -43.7% |
| Financial charges | 65/66B | €1,323 | €3,099 | +€1,775 | +134% |
| Recurring financial charges | 65 | €1,323 | €3,099 | +€1,775 | +134% |
| Profit (loss) for the period before taxes | 9903 | €113,266 | €61,438 | -€51,828 | -45.8% |
| Income taxes | 67/77 | €15,000 | - | -€15,000 | |
| Profit (loss) for the period | 9904 | €98,266 | €61,438 | -€36,828 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €98,266 | €61,438 | -€36,828 | -37.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.