ARENBERG: 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.
ARENBERG
Largest movements
- Receivables within one year +€162,175
up €162,175 (+337%), from €48,062 to €210,237
of which Trade receivables: +€113,543
- Cash -€152,432
down €152,432 (-89.5%), from €170,385 to €17,953
mainly Receivables within one year (-€162,175) and Debts after one year (-€67,399)
- Tangible fixed assets -€46,329
down €46,329 (-4.0%), from €1.2m to €1.1m
of which Land and buildings: -€45,293
- Other debts +€101,953
up €101,953 (+30.1%), from €338,324 to €440,277
- Debts after one year -€67,399
down €67,399 (-10.9%), from €618,896 to €551,497
- Trade debts -€59,594
down €59,594 (-83.2%), from €71,619 to €12,024
- Reserves -€16,433
down €16,433 (-8.5%), from €193,149 to €176,716
of which Distributable reserves: -€16,433
- Gross operating margin -€94,210
down €94,210 (-47.3%), from €199,286 to €105,075
- Staff costs -€72,081
down €72,081, from €71,081 to -€1,000
- Financial charges +€12,020
up €12,020 (+46.7%), from €25,714 to €37,734
- Other operating charges +€11,058
up €11,058 (+92.2%), from €11,990 to €23,049
- Taxes -€7,512
down €7,512 (-84.2%), from €8,917 to €1,405
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 | €1,397,141 | €1,360,247 | -€36,894 | -2.6% |
| Fixed assets | 21/28 | €1,167,036 | €1,120,707 | -€46,329 | -4.0% |
| Tangible fixed assets | 22/27 | €1,167,036 | €1,120,707 | -€46,329 | -4.0% |
| Land and buildings | 22 | €1,155,142 | €1,109,848 | -€45,293 | -3.9% |
| Furniture and vehicles | 24 | €11,894 | €10,859 | -€1,036 | -8.7% |
| Current assets | 29/58 | €230,105 | €239,540 | +€9,435 | +4.1% |
| Amounts receivable within one year | 40/41 | €48,062 | €210,237 | +€162,175 | +337% |
| Trade receivables | 40 | €12,052 | €125,595 | +€113,543 | +942% |
| Other amounts receivable | 41 | €36,010 | €84,642 | +€48,632 | +135% |
| Current investments | 50/53 | €2,236 | €3 | -€2,233 | -99.9% |
| Cash at bank and in hand | 54/58 | €170,385 | €17,953 | -€152,432 | -89.5% |
| Deferred charges and accrued income | 490/1 | €9,422 | €11,347 | +€1,925 | +20.4% |
| Total equity and liabilities | 10/49 | €1,397,141 | €1,360,247 | -€36,894 | -2.6% |
| Equity | 10/15 | €254,649 | €236,770 | -€17,879 | -7.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €111,079 | €111,079 | = | 0.0% |
| Uncalled capital | 101 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €193,149 | €176,716 | -€16,433 | -8.5% |
| Non-distributable reserves | 130/1 | €15,329 | €15,329 | = | 0.0% |
| Legal reserve | 130 | €15,329 | €15,329 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,412 | €30,412 | = | 0.0% |
| Distributable reserves | 133 | €147,408 | €130,975 | -€16,433 | -11.1% |
| Profit (loss) carried forward | 14 | €0 | -€1,446 | -€1,446 | |
| Provisions and deferred taxes | 16 | €34,493 | €33,227 | -€1,266 | -3.7% |
| Deferred taxes | 168 | €34,493 | €33,227 | -€1,266 | -3.7% |
| Amounts payable | 17/49 | €1,108,000 | €1,090,250 | -€17,750 | -1.6% |
| Amounts payable after more than one year | 17 | €618,896 | €551,497 | -€67,399 | -10.9% |
| Financial debts | 170/4 | €618,896 | €551,497 | -€67,399 | -10.9% |
| Amounts payable within one year | 42/48 | €486,944 | €537,898 | +€50,954 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €76,283 | €72,980 | -€3,303 | -4.3% |
| Financial debts | 43 | - | €3 | +€3 | |
| Credit institutions | 430/8 | - | €3 | +€3 | |
| Trade debts | 44 | €71,619 | €12,024 | -€59,594 | -83.2% |
| Suppliers | 440/4 | €71,619 | €12,024 | -€59,594 | -83.2% |
| Taxes, remuneration and social security | 45 | €718 | €12,614 | +€11,896 | +1,656% |
| Taxes | 450/3 | €718 | €12,614 | +€11,896 | +1,656% |
| Other amounts payable | 47/48 | €338,324 | €440,277 | +€101,953 | +30.1% |
| Accrued charges and deferred income | 492/3 | €2,160 | €856 | -€1,304 | -60.4% |
| Remuneration, social security and pensions | 62 | €71,081 | -€1,000 | -€72,081 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,235 | €47,649 | -€6,586 | -12.1% |
| Other operating charges | 640/8 | €11,990 | €23,049 | +€11,058 | +92.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €199,286 | €105,075 | -€94,210 | -47.3% |
| Operating profit (loss) | 9901 | €61,979 | €35,378 | -€26,601 | -42.9% |
| Financial income | 75/76B | €190 | €1,049 | +€859 | +453% |
| Recurring financial income | 75 | €190 | €1,049 | +€859 | +453% |
| Financial charges | 65/66B | €25,714 | €37,734 | +€12,020 | +46.7% |
| Recurring financial charges | 65 | €25,714 | €37,734 | +€12,020 | +46.7% |
| Profit (loss) for the period before taxes | 9903 | €36,455 | -€1,307 | -€37,761 | |
| Transfer from deferred taxes | 780 | €1,266 | €1,266 | = | 0.0% |
| Income taxes | 67/77 | €8,917 | €1,405 | -€7,512 | -84.2% |
| Profit (loss) for the period | 9904 | €28,804 | -€1,446 | -€30,249 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €28,804 | -€1,446 | -€30,249 |
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 25 October 2026 via checked.be.