ARENATUM: 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.
ARENATUM
Largest movements
- Receivables within one year -€207,511
down €207,511 (-64.6%), from €321,108 to €113,597
of which Other amounts receivable: -€202,378
- Receivables after one year -€141,000
no longer reported in 2025 (was €141,000)
- Cash +€106,681
up €106,681 (+133%), from €80,284 to €186,966
mainly Receivables within one year (+€207,511) and Receivables after one year (+€141,000)
- Tangible fixed assets -€14,416
down €14,416 (-22.4%), from €64,413 to €49,998
of which Plant, machinery and equipment: -€12,647
- Reserves -€186,365
no longer reported in 2025 (was €186,365)
- Profit (loss) carried forward -€179,150
down €179,150 (-59.3%), from €302,289 to €123,139
- Other debts +€113,664
up €113,664 (+3,084%), from €3,685 to €117,349
- Debts after one year -€23,400
no longer reported in 2025 (was €23,400)
- Tax, wage and social debts +€21,006
up €21,006 (+59.4%), from €35,361 to €56,367
of which Taxes: +€16,363
- Gross operating margin +€53,517
up €53,517 (+25.2%), from €212,381 to €265,898
- Staff costs +€44,930
up €44,930 (+65.6%), from €68,476 to €113,406
- Taxes +€4,587
up €4,587 (+14.9%), from €30,882 to €35,469
- Financial income -€2,695
down €2,695 (-84.1%), from €3,203 to €508
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 | €613,328 | €362,165 | -€251,163 | -41.0% |
| Fixed assets | 21/28 | €67,755 | €52,655 | -€15,100 | -22.3% |
| Intangible fixed assets | 21 | €3,341 | €2,657 | -€684 | -20.5% |
| Tangible fixed assets | 22/27 | €64,413 | €49,998 | -€14,416 | -22.4% |
| Land and buildings | 22 | €5,000 | €5,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €40,181 | €27,534 | -€12,647 | -31.5% |
| Furniture and vehicles | 24 | €19,232 | €17,464 | -€1,769 | -9.2% |
| Current assets | 29/58 | €545,574 | €309,510 | -€236,064 | -43.3% |
| Amounts receivable after more than one year | 29 | €141,000 | - | -€141,000 | |
| Other amounts receivable | 291 | €141,000 | - | -€141,000 | |
| Amounts receivable within one year | 40/41 | €321,108 | €113,597 | -€207,511 | -64.6% |
| Trade receivables | 40 | €118,062 | €112,929 | -€5,133 | -4.3% |
| Other amounts receivable | 41 | €203,046 | €668 | -€202,378 | -99.7% |
| Cash at bank and in hand | 54/58 | €80,284 | €186,966 | +€106,681 | +133% |
| Deferred charges and accrued income | 490/1 | €3,181 | €8,947 | +€5,766 | +181% |
| Total equity and liabilities | 10/49 | €613,328 | €362,165 | -€251,163 | -41.0% |
| Equity | 10/15 | €494,854 | €129,339 | -€365,515 | -73.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,365 | - | -€186,365 | |
| Distributable reserves | 133 | €186,365 | - | -€186,365 | |
| Profit (loss) carried forward | 14 | €302,289 | €123,139 | -€179,150 | -59.3% |
| Amounts payable | 17/49 | €118,474 | €232,826 | +€114,352 | +96.5% |
| Amounts payable after more than one year | 17 | €23,400 | - | -€23,400 | |
| Financial debts | 170/4 | €23,400 | - | -€23,400 | |
| Amounts payable within one year | 42/48 | €93,197 | €232,772 | +€139,575 | +150% |
| Trade debts | 44 | €47,749 | €59,056 | +€11,307 | +23.7% |
| Suppliers | 440/4 | €47,749 | €59,056 | +€11,307 | +23.7% |
| Advances received on contracts in progress | 46 | €6,402 | - | -€6,402 | |
| Taxes, remuneration and social security | 45 | €35,361 | €56,367 | +€21,006 | +59.4% |
| Taxes | 450/3 | €29,095 | €45,459 | +€16,363 | +56.2% |
| Remuneration and social security | 454/9 | €6,265 | €10,908 | +€4,643 | +74.1% |
| Other amounts payable | 47/48 | €3,685 | €117,349 | +€113,664 | +3,084% |
| Accrued charges and deferred income | 492/3 | €1,877 | €54 | -€1,823 | -97.1% |
| Remuneration, social security and pensions | 62 | €68,476 | €113,406 | +€44,930 | +65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,699 | €25,487 | -€2,212 | -8.0% |
| Other operating charges | 640/8 | €1,098 | €1,502 | +€404 | +36.7% |
| Non-recurring operating charges | 66A | €3,223 | - | -€3,223 | |
| Gross operating margin | 9900 | €212,381 | €265,898 | +€53,517 | +25.2% |
| Operating profit (loss) | 9901 | €111,885 | €125,504 | +€13,619 | +12.2% |
| Financial income | 75/76B | €3,203 | €508 | -€2,695 | -84.1% |
| Recurring financial income | 75 | €3,203 | €508 | -€2,695 | -84.1% |
| Financial charges | 65/66B | €2,491 | €58 | -€2,433 | -97.7% |
| Recurring financial charges | 65 | €2,491 | €58 | -€2,433 | -97.7% |
| Profit (loss) for the period before taxes | 9903 | €112,597 | €125,954 | +€13,357 | +11.9% |
| Income taxes | 67/77 | €30,882 | €35,469 | +€4,587 | +14.9% |
| Profit (loss) for the period | 9904 | €81,715 | €90,485 | +€8,770 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,715 | €90,485 | +€8,770 | +10.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.