ARFA: 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.
ARFA
Largest movements
- Receivables within one year +€50,000
new in 2024: €50,000
- Cash -€32,756
down €32,756 (-64.4%), from €50,855 to €18,099
mainly Receivables within one year (-€50,000) and Tax, wage and social debts (-€1,551)
- Tangible fixed assets -€1,000
down €1,000 (-50.0%), from €2,000 to €1,000
- Profit (loss) carried forward +€11,543
up €11,543 (+29.6%), from €38,985 to €50,528
- Trade debts +€6,252
new in 2024: €6,252
- Tax, wage and social debts -€1,551
no longer reported in 2024 (was €1,551)
- Gross operating margin +€5,068
up €5,068 (+63.9%), from €7,925 to €12,993
- Financial charges -€1,380
down €1,380 (-89.6%), from €1,540 to €160
- Taxes +€950
up €950 (+243.6%), from €390 to €1,340
- Other operating charges -€473
down €473 (-46.9%), from €1,009 to €536
- Financial income -€232
down €232 (-12.2%), from €1,898 to €1,666
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,436 | €77,680 | +€16,244 | +26.4% |
| Fixed assets | 21/28 | €5,300 | €4,300 | -€1,000 | -18.9% |
| Tangible fixed assets | 22/27 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Plant, machinery and equipment | 23 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €56,136 | €73,380 | +€17,244 | +30.7% |
| Stocks and contracts in progress | 3 | €5,281 | €5,281 | = | 0.0% |
| Stocks | 30/36 | €5,281 | €5,281 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 41 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €50,855 | €18,099 | -€32,756 | -64.4% |
| Total equity and liabilities | 10/49 | €61,436 | €77,680 | +€16,244 | +26.4% |
| Equity | 10/15 | €59,885 | €71,428 | +€11,543 | +19.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | - | -€1,900 | |
| Reserves not available under the articles | 1311 | €1,900 | - | -€1,900 | |
| Distributable reserves | 133 | - | €1,900 | +€1,900 | |
| Profit (loss) carried forward | 14 | €38,985 | €50,528 | +€11,543 | +29.6% |
| Amounts payable | 17/49 | €1,551 | €6,252 | +€4,701 | +303.1% |
| Amounts payable within one year | 42/48 | €1,551 | €6,252 | +€4,701 | +303.1% |
| Trade debts | 44 | - | €6,252 | +€6,252 | |
| Suppliers | 440/4 | - | €6,252 | +€6,252 | |
| Taxes, remuneration and social security | 45 | €1,551 | - | -€1,551 | |
| Taxes | 450/3 | €1,551 | - | -€1,551 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,009 | €536 | -€473 | -46.9% |
| Non-recurring operating charges | 66A | - | €80 | +€80 | |
| Gross operating margin | 9900 | €7,925 | €12,993 | +€5,068 | +63.9% |
| Operating profit (loss) | 9901 | €5,916 | €11,377 | +€5,461 | +92.3% |
| Financial income | 75/76B | €1,898 | €1,666 | -€232 | -12.2% |
| Recurring financial income | 75 | €1,898 | €1,666 | -€232 | -12.2% |
| Financial charges | 65/66B | €1,540 | €160 | -€1,380 | -89.6% |
| Recurring financial charges | 65 | €1,540 | €160 | -€1,380 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | €6,274 | €12,883 | +€6,609 | +105.3% |
| Income taxes | 67/77 | €390 | €1,340 | +€950 | +243.6% |
| Profit (loss) for the period | 9904 | €5,884 | €11,543 | +€5,659 | +96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,884 | €11,543 | +€5,659 | +96.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.