ARFIDEL: 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.
ARFIDEL
Largest movements
- Tangible fixed assets -€15,299
down €15,299 (-26.6%), from €57,604 to €42,305
of which Furniture and vehicles: -€16,392
- Receivables within one year +€10,368
up €10,368 (+19.7%), from €52,566 to €62,934
of which Trade receivables: +€9,322
- Cash +€5,273
up €5,273 (+3.7%), from €142,993 to €148,267
mainly Other debts (+€30,682) and Depreciation (+€16,604)
- Other debts +€30,682
up €30,682 (+51.3%), from €59,779 to €90,460
- Reserves -€24,080
down €24,080 (-15.4%), from €156,603 to €132,523
of which Distributable reserves: -€24,080
- Trade debts -€9,679
down €9,679 (-56.6%), from €17,108 to €7,429
- Tax, wage and social debts +€6,396
up €6,396 (+55.8%), from €11,461 to €17,857
of which Remuneration and social security: +€4,170
- Gross operating margin -€4,787
down €4,787 (-5.1%), from €94,489 to €89,702
- Staff costs +€2,734
up €2,734 (+4.9%), from €56,120 to €58,854
- Financial income +€1,391
up €1,391 (+622.8%), from €223 to €1,614
- Financial charges +€1,106
up €1,106 (+56.0%), from €1,974 to €3,081
- Taxes -€1,035
down €1,035 (-20.4%), from €5,081 to €4,046
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 | €265,400 | €268,351 | +€2,951 | +1.1% |
| Fixed assets | 21/28 | €57,604 | €42,305 | -€15,299 | -26.6% |
| Tangible fixed assets | 22/27 | €57,604 | €42,305 | -€15,299 | -26.6% |
| Plant, machinery and equipment | 23 | - | €1,093 | +€1,093 | |
| Furniture and vehicles | 24 | €57,604 | €41,212 | -€16,392 | -28.5% |
| Current assets | 29/58 | €207,796 | €226,046 | +€18,250 | +8.8% |
| Stocks and contracts in progress | 3 | €11,024 | €11,265 | +€241 | +2.2% |
| Stocks | 30/36 | €11,024 | €11,265 | +€241 | +2.2% |
| Amounts receivable within one year | 40/41 | €52,566 | €62,934 | +€10,368 | +19.7% |
| Trade receivables | 40 | €45,143 | €54,466 | +€9,322 | +20.7% |
| Other amounts receivable | 41 | €7,423 | €8,469 | +€1,046 | +14.1% |
| Cash at bank and in hand | 54/58 | €142,993 | €148,267 | +€5,273 | +3.7% |
| Deferred charges and accrued income | 490/1 | €1,212 | €3,580 | +€2,367 | +195.3% |
| Total equity and liabilities | 10/49 | €265,400 | €268,351 | +€2,951 | +1.1% |
| Equity | 10/15 | €176,685 | €152,605 | -€24,080 | -13.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €156,603 | €132,523 | -€24,080 | -15.4% |
| Tax-exempt reserves | 132 | €9,500 | €9,500 | = | 0.0% |
| Distributable reserves | 133 | €147,103 | €123,023 | -€24,080 | -16.4% |
| Profit (loss) carried forward | 14 | €81 | €81 | = | 0.0% |
| Amounts payable | 17/49 | €88,715 | €115,746 | +€27,031 | +30.5% |
| Amounts payable within one year | 42/48 | €88,348 | €115,746 | +€27,398 | +31.0% |
| Trade debts | 44 | €17,108 | €7,429 | -€9,679 | -56.6% |
| Suppliers | 440/4 | €17,108 | €7,429 | -€9,679 | -56.6% |
| Taxes, remuneration and social security | 45 | €11,461 | €17,857 | +€6,396 | +55.8% |
| Taxes | 450/3 | €1,529 | €3,755 | +€2,226 | +145.6% |
| Remuneration and social security | 454/9 | €9,933 | €14,102 | +€4,170 | +42.0% |
| Other amounts payable | 47/48 | €59,779 | €90,460 | +€30,682 | +51.3% |
| Accrued charges and deferred income | 492/3 | €367 | - | -€367 | |
| Non-recurring operating income | 76A | €11,000 | - | -€11,000 | |
| Remuneration, social security and pensions | 62 | €56,120 | €58,854 | +€2,734 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,661 | €16,604 | -€57 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,047 | €293 | -€754 | -72.0% |
| Other operating charges | 640/8 | €2,462 | €1,756 | -€706 | -28.7% |
| Gross operating margin | 9900 | €94,489 | €89,702 | -€4,787 | -5.1% |
| Operating profit (loss) | 9901 | €18,198 | €12,194 | -€6,004 | -33.0% |
| Financial income | 75/76B | €223 | €1,614 | +€1,391 | +622.8% |
| Recurring financial income | 75 | €223 | €1,614 | +€1,391 | +622.8% |
| Financial charges | 65/66B | €1,974 | €3,081 | +€1,106 | +56.0% |
| Recurring financial charges | 65 | €1,974 | €3,081 | +€1,106 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €16,447 | €10,727 | -€5,720 | -34.8% |
| Income taxes | 67/77 | €5,081 | €4,046 | -€1,035 | -20.4% |
| Profit (loss) for the period | 9904 | €11,365 | €6,681 | -€4,685 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,365 | €6,681 | -€4,685 | -41.2% |
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 8 October 2026 via checked.be.