Arendi: 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.
Arendi
Largest movements
- Receivables within one year +€81,420
up €81,420 (+1085.6%), from €7,500 to €88,920
- Cash +€12,440
up €12,440 (+125.4%), from €9,922 to €22,362
mainly Advances received (+€95,463) and Depreciation (+€17,216)
- Tangible fixed assets +€2,412
up €2,412 (+3.9%), from €61,999 to €64,411
- Advances received +€95,463
up €95,463 (+392.6%), from €24,314 to €119,777
- Profit (loss) carried forward -€12,098
down €12,098 (-3.4%), from -€358,616 to -€370,714
- Debts after one year +€10,310
up €10,310 (+3.3%), from €313,739 to €324,049
- Trade debts +€2,003
up €2,003 (+5.1%), from €39,089 to €41,092
- Gross operating margin +€105,892
up €105,892, from -€75,373 to €30,520
- Depreciation +€13,639
up €13,639 (+381.3%), from €3,577 to €17,216
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 | €92,824 | €188,230 | +€95,406 | +102.8% |
| Fixed assets | 21/28 | €70,919 | €72,072 | +€1,153 | +1.6% |
| Intangible fixed assets | 21 | €1,571 | €311 | -€1,260 | -80.2% |
| Tangible fixed assets | 22/27 | €61,999 | €64,411 | +€2,412 | +3.9% |
| Other tangible fixed assets | 26 | €61,999 | €64,411 | +€2,412 | +3.9% |
| Financial fixed assets | 28 | €7,350 | €7,350 | = | 0.0% |
| Current assets | 29/58 | €21,904 | €116,158 | +€94,254 | +430.3% |
| Stocks and contracts in progress | 3 | €4,216 | €4,216 | = | 0.0% |
| Stocks | 30/36 | €4,216 | €4,216 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,500 | €88,920 | +€81,420 | +1085.6% |
| Trade receivables | 40 | €7,500 | €88,920 | +€81,420 | +1085.6% |
| Cash at bank and in hand | 54/58 | €9,922 | €22,362 | +€12,440 | +125.4% |
| Deferred charges and accrued income | 490/1 | €266 | €660 | +€394 | +148.4% |
| Total equity and liabilities | 10/49 | €92,824 | €188,230 | +€95,406 | +102.8% |
| Equity | 10/15 | -€295,698 | -€307,796 | -€12,098 | -4.1% |
| Contributions | 10/11 | €53,600 | €53,600 | = | 0.0% |
| Reserves | 13 | €9,318 | €9,318 | = | 0.0% |
| Distributable reserves | 133 | €9,318 | €9,318 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€358,616 | -€370,714 | -€12,098 | -3.4% |
| Amounts payable | 17/49 | €388,522 | €496,026 | +€107,504 | +27.7% |
| Amounts payable after more than one year | 17 | €313,739 | €324,049 | +€10,310 | +3.3% |
| Financial debts | 170/4 | €313,739 | €324,049 | +€10,310 | +3.3% |
| Amounts payable within one year | 42/48 | €74,738 | €171,524 | +€96,785 | +129.5% |
| Trade debts | 44 | €39,089 | €41,092 | +€2,003 | +5.1% |
| Suppliers | 440/4 | €39,089 | €41,092 | +€2,003 | +5.1% |
| Advances received on contracts in progress | 46 | €24,314 | €119,777 | +€95,463 | +392.6% |
| Taxes, remuneration and social security | 45 | €777 | €0 | -€777 | -100.0% |
| Taxes | 450/3 | €777 | €0 | -€777 | -100.0% |
| Other amounts payable | 47/48 | €10,558 | €10,655 | +€97 | +0.9% |
| Accrued charges and deferred income | 492/3 | €45 | €454 | +€409 | +913.2% |
| Non-recurring operating income | 76A | €1,260 | €1,260 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,577 | €17,216 | +€13,639 | +381.3% |
| Other operating charges | 640/8 | €1,225 | €1,522 | +€297 | +24.2% |
| Non-recurring operating charges | 66A | €14,134 | €21,921 | +€7,786 | +55.1% |
| Gross operating margin | 9900 | -€75,373 | €30,520 | +€105,892 | |
| Operating profit (loss) | 9901 | -€94,309 | -€10,139 | +€84,170 | +89.2% |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.2% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.2% |
| Financial charges | 65/66B | €1,861 | €1,959 | +€98 | +5.3% |
| Recurring financial charges | 65 | €1,861 | €1,959 | +€98 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€96,160 | -€12,098 | +€84,062 | +87.4% |
| Profit (loss) for the period | 9904 | -€96,160 | -€12,098 | +€84,062 | +87.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,160 | -€12,098 | +€84,062 | +87.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.