ARFEVI: 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.
ARFEVI
Largest movements
- Cash +€66,859
up €66,859 (+808.5%), from €8,270 to €75,128
mainly Other debts (+€223,282) and Net result for the year (+€221,583)
- Current investments -€49,640
down €49,640 (-26.5%), from €187,287 to €137,647
- Receivables within one year -€9,795
down €9,795 (-33.3%), from €29,384 to €19,589
- Other debts +€223,282
up €223,282 (+2676.4%), from €8,342 to €231,625
- Reserves -€212,038
down €212,038 (-71.6%), from €296,238 to €84,200
of which Distributable reserves: -€212,038
- Gross operating margin +€14,107
up €14,107 (+4.9%), from €288,047 to €302,154
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 | €333,254 | €340,295 | +€7,041 | +2.1% |
| Fixed assets | 21/28 | €7,488 | €5,472 | -€2,016 | -26.9% |
| Tangible fixed assets | 22/27 | €7,488 | €5,472 | -€2,016 | -26.9% |
| Land and buildings | 22 | €591 | €260 | -€331 | -56.0% |
| Plant, machinery and equipment | 23 | €150 | - | -€150 | |
| Furniture and vehicles | 24 | €6,747 | €5,211 | -€1,535 | -22.8% |
| Current assets | 29/58 | €325,766 | €334,824 | +€9,057 | +2.8% |
| Amounts receivable within one year | 40/41 | €29,384 | €19,589 | -€9,795 | -33.3% |
| Trade receivables | 40 | €29,384 | €19,589 | -€9,795 | -33.3% |
| Current investments | 50/53 | €187,287 | €137,647 | -€49,640 | -26.5% |
| Cash at bank and in hand | 54/58 | €8,270 | €75,128 | +€66,859 | +808.5% |
| Deferred charges and accrued income | 490/1 | €100,825 | €102,459 | +€1,634 | +1.6% |
| Total equity and liabilities | 10/49 | €333,254 | €340,295 | +€7,041 | +2.1% |
| Equity | 10/15 | €314,838 | €102,800 | -€212,038 | -67.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €296,238 | €84,200 | -€212,038 | -71.6% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Distributable reserves | 133 | €212,038 | - | -€212,038 | |
| Amounts payable | 17/49 | €18,416 | €237,495 | +€219,079 | +1189.6% |
| Amounts payable within one year | 42/48 | €14,747 | €235,086 | +€220,340 | +1494.1% |
| Trade debts | 44 | €2,184 | €1,361 | -€824 | -37.7% |
| Suppliers | 440/4 | €2,184 | €1,361 | -€824 | -37.7% |
| Taxes, remuneration and social security | 45 | €4,220 | €2,101 | -€2,119 | -50.2% |
| Taxes | 450/3 | €4,220 | €2,101 | -€2,119 | -50.2% |
| Other amounts payable | 47/48 | €8,342 | €231,625 | +€223,282 | +2676.4% |
| Accrued charges and deferred income | 492/3 | €3,669 | €2,409 | -€1,260 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,903 | €2,016 | -€887 | -30.6% |
| Other operating charges | 640/8 | €500 | €528 | +€28 | +5.6% |
| Non-recurring operating charges | 66A | - | €3,100 | +€3,100 | |
| Gross operating margin | 9900 | €288,047 | €302,154 | +€14,107 | +4.9% |
| Operating profit (loss) | 9901 | €284,644 | €296,511 | +€11,866 | +4.2% |
| Financial income | 75/76B | €4,490 | €3,827 | -€663 | -14.8% |
| Recurring financial income | 75 | €4,490 | €3,827 | -€663 | -14.8% |
| Financial charges | 65/66B | €2,773 | €2,063 | -€710 | -25.6% |
| Recurring financial charges | 65 | €2,773 | €2,063 | -€710 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €286,361 | €298,275 | +€11,914 | +4.2% |
| Income taxes | 67/77 | €74,323 | €76,692 | +€2,369 | +3.2% |
| Profit (loss) for the period | 9904 | €212,038 | €221,583 | +€9,545 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €212,038 | €221,583 | +€9,545 | +4.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.