ARFI RAD: 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.
ARFI RAD
Largest movements
- Cash +€239,755
up €239,755 (+4351.6%), from €5,510 to €245,265
mainly Net result for the year (+€291,271) and Tax, wage and social debts (+€86,616)
- Deferred charges and accrued income +€168,888
up €168,888 (+16330.9%), from €1,034 to €169,922
- Receivables within one year -€67,689
no longer reported in 2025 (was €67,689)
- Current investments +€29,878
new in 2025: €29,878
- Profit (loss) carried forward +€290,412
up €290,412 (+518.8%), from €55,981 to €346,393
- Tax, wage and social debts +€86,616
up €86,616 (+596.2%), from €14,529 to €101,145
- Gross operating margin +€322,835
up €322,835 (+450.5%), from €71,666 to €394,501
- Taxes +€86,608
up €86,608 (+606.5%), from €14,279 to €100,887
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 | €74,233 | €449,077 | +€374,844 | +505.0% |
| Fixed assets | 21/28 | - | €4,013 | +€4,013 | |
| Tangible fixed assets | 22/27 | - | €4,013 | +€4,013 | |
| Furniture and vehicles | 24 | - | €4,013 | +€4,013 | |
| Current assets | 29/58 | €74,233 | €445,064 | +€370,831 | +499.6% |
| Amounts receivable within one year | 40/41 | €67,689 | - | -€67,689 | |
| Trade receivables | 40 | €67,689 | - | -€67,689 | |
| Current investments | 50/53 | - | €29,878 | +€29,878 | |
| Cash at bank and in hand | 54/58 | €5,510 | €245,265 | +€239,755 | +4351.6% |
| Deferred charges and accrued income | 490/1 | €1,034 | €169,922 | +€168,888 | +16330.9% |
| Total equity and liabilities | 10/49 | €74,233 | €449,077 | +€374,844 | +505.0% |
| Equity | 10/15 | €56,981 | €347,393 | +€290,412 | +509.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,981 | €346,393 | +€290,412 | +518.8% |
| Amounts payable | 17/49 | €17,252 | €101,684 | +€84,432 | +489.4% |
| Amounts payable within one year | 42/48 | €17,252 | €101,684 | +€84,432 | +489.4% |
| Financial debts | 43 | €1,032 | - | -€1,032 | |
| Credit institutions | 430/8 | €1,032 | - | -€1,032 | |
| Trade debts | 44 | €1,065 | €186 | -€879 | -82.5% |
| Suppliers | 440/4 | €1,065 | €186 | -€879 | -82.5% |
| Taxes, remuneration and social security | 45 | €14,529 | €101,145 | +€86,616 | +596.2% |
| Taxes | 450/3 | €14,529 | €101,145 | +€86,616 | +596.2% |
| Other amounts payable | 47/48 | €626 | €353 | -€273 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €998 | +€998 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €71,666 | €394,501 | +€322,835 | +450.5% |
| Operating profit (loss) | 9901 | €71,278 | €393,104 | +€321,825 | +451.5% |
| Financial charges | 65/66B | €185 | €946 | +€760 | +410.9% |
| Recurring financial charges | 65 | €185 | €946 | +€760 | +410.9% |
| Profit (loss) for the period before taxes | 9903 | €71,093 | €392,158 | +€321,065 | +451.6% |
| Income taxes | 67/77 | €14,279 | €100,887 | +€86,608 | +606.5% |
| Profit (loss) for the period | 9904 | €56,814 | €291,271 | +€234,457 | +412.7% |
| Profit (loss) for the period to be appropriated | 9905 | €56,814 | €291,271 | +€234,457 | +412.7% |
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 2 October 2026 via checked.be.