ARFIDO: what changed
Two financial 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.
ARFIDO
Largest movements
- Receivables within one year -€76,377
down €76,377 (-84.7%), from €90,145 to €13,768
of which Trade receivables: -€72,506
- Cash -€9,929
down €9,929 (-79.4%), from €12,499 to €2,570
mainly Trade debts (-€69,821) and Investment in fixed assets (net) (-€12,750)
- Tangible fixed assets +€7,658
up €7,658 (+56.7%), from €13,517 to €21,175
of which Plant, machinery and equipment: +€11,019
- Trade debts -€69,821
down €69,821 (-58.5%), from €119,262 to €49,441
- Profit (loss) carried forward -€7,217
down €7,217 (-3.9%), from -€186,541 to -€193,758
- Debts after one year +€5,165
up €5,165 (+4.5%), from €114,351 to €119,516
- Current portion of long-term debt -€4,210
no longer reported in 2024 (was €4,210)
- Other debts -€2,068
down €2,068 (-9.1%), from €22,712 to €20,644
- Gross operating margin -€10,777
down €10,777, from €8,897 to -€1,880
- Financial income +€1,650
up €1,650 (+813%), from €203 to €1,854
- Financial charges -€1,401
down €1,401 (-63.5%), from €2,207 to €806
- Other operating charges -€645
down €645 (-48.9%), from €1,318 to €673
- Depreciation +€613
up €613 (+13.7%), from €4,479 to €5,092
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.
Derived cash bridge
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 | €123,160 | €44,513 | -€78,648 | -63.9% |
| Fixed assets | 21/28 | €13,517 | €21,175 | +€7,658 | +56.7% |
| Tangible fixed assets | 22/27 | €13,517 | €21,175 | +€7,658 | +56.7% |
| Plant, machinery and equipment | 23 | €1,249 | €12,268 | +€11,019 | +882% |
| Furniture and vehicles | 24 | €12,267 | €8,907 | -€3,361 | -27.4% |
| Current assets | 29/58 | €109,644 | €23,338 | -€86,306 | -78.7% |
| Stocks and contracts in progress | 3 | €7,000 | €7,000 | = | 0.0% |
| Stocks | 30/36 | €7,000 | €7,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €90,145 | €13,768 | -€76,377 | -84.7% |
| Trade receivables | 40 | €86,257 | €13,751 | -€72,506 | -84.1% |
| Other amounts receivable | 41 | €3,888 | €17 | -€3,870 | -99.6% |
| Cash at bank and in hand | 54/58 | €12,499 | €2,570 | -€9,929 | -79.4% |
| Total equity and liabilities | 10/49 | €123,160 | €44,513 | -€78,648 | -63.9% |
| Equity | 10/15 | -€137,941 | -€145,158 | -€7,217 | -5.2% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,541 | -€193,758 | -€7,217 | -3.9% |
| Amounts payable | 17/49 | €261,101 | €189,671 | -€71,430 | -27.4% |
| Amounts payable after more than one year | 17 | €114,351 | €119,516 | +€5,165 | +4.5% |
| Financial debts | 170/4 | €114,351 | €119,516 | +€5,165 | +4.5% |
| Amounts payable within one year | 42/48 | €146,751 | €70,155 | -€76,595 | -52.2% |
| Current portion of amounts payable after more than one year | 42 | €4,210 | - | -€4,210 | |
| Financial debts | 43 | €567 | - | -€567 | |
| Credit institutions | 430/8 | €567 | - | -€567 | |
| Trade debts | 44 | €119,262 | €49,441 | -€69,821 | -58.5% |
| Suppliers | 440/4 | €119,262 | €49,441 | -€69,821 | -58.5% |
| Taxes, remuneration and social security | 45 | - | €71 | +€71 | |
| Taxes | 450/3 | - | €71 | +€71 | |
| Other amounts payable | 47/48 | €22,712 | €20,644 | -€2,068 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,479 | €5,092 | +€613 | +13.7% |
| Other operating charges | 640/8 | €1,318 | €673 | -€645 | -48.9% |
| Non-recurring operating charges | 66A | €633 | €620 | -€14 | -2.1% |
| Gross operating margin | 9900 | €8,897 | -€1,880 | -€10,777 | |
| Operating profit (loss) | 9901 | €2,467 | -€8,265 | -€10,731 | |
| Financial income | 75/76B | €203 | €1,854 | +€1,650 | +813% |
| Recurring financial income | 75 | €203 | €1,854 | +€1,650 | +813% |
| Financial charges | 65/66B | €2,207 | €806 | -€1,401 | -63.5% |
| Recurring financial charges | 65 | €2,207 | €806 | -€1,401 | -63.5% |
| Profit (loss) for the period before taxes | 9903 | €463 | -€7,217 | -€7,680 | |
| Profit (loss) for the period | 9904 | €463 | -€7,217 | -€7,680 | |
| Profit (loss) for the period to be appropriated | 9905 | €463 | -€7,217 | -€7,680 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.