ARFILA: 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.
ARFILA
Largest movements
- Tangible fixed assets +€38,422
up €38,422 (+3.9%), from €983,496 to €1.0m
- Receivables within one year -€27,756
down €27,756 (-89.4%), from €31,045 to €3,288
of which Other amounts receivable: -€24,165
- Current investments -€15,870
down €15,870 (-99.4%), from €15,965 to €95
- Profit (loss) carried forward -€35,312
down €35,312, from €3,023 to -€32,289
- Debts after one year +€25,932
up €25,932 (+2.8%), from €934,785 to €960,718
of which Other amounts payable: +€62,000
- Accrued charges and deferred income +€16,526
up €16,526 (+415%), from €3,978 to €20,504
- Trade debts -€12,764
down €12,764 (-31.5%), from €40,544 to €27,780
- Gross operating margin -€52,444
down €52,444 (-43.2%), from €121,371 to €68,927
- Financial charges +€11,754
up €11,754 (+41.0%), from €28,670 to €40,423
- Taxes -€3,606
down €3,606 (-96.8%), from €3,726 to €121
- Depreciation +€3,191
up €3,191 (+15.2%), from €21,018 to €24,208
- Staff costs -€2,393
down €2,393 (-6.1%), from €39,145 to €36,752
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.
Derived cash bridge
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 | €1,037,061 | €1,035,485 | -€1,576 | -0.2% |
| Fixed assets | 21/28 | €983,496 | €1,021,918 | +€38,422 | +3.9% |
| Tangible fixed assets | 22/27 | €983,496 | €1,021,918 | +€38,422 | +3.9% |
| Land and buildings | 22 | €983,496 | €997,100 | +€13,604 | +1.4% |
| Plant, machinery and equipment | 23 | - | €5,149 | +€5,149 | |
| Other tangible fixed assets | 26 | - | €6,419 | +€6,419 | |
| Assets under construction and advance payments | 27 | - | €13,250 | +€13,250 | |
| Current assets | 29/58 | €53,565 | €13,567 | -€39,998 | -74.7% |
| Amounts receivable within one year | 40/41 | €31,045 | €3,288 | -€27,756 | -89.4% |
| Trade receivables | 40 | €4,585 | €993 | -€3,592 | -78.3% |
| Other amounts receivable | 41 | €26,460 | €2,296 | -€24,165 | -91.3% |
| Current investments | 50/53 | €15,965 | €95 | -€15,870 | -99.4% |
| Cash at bank and in hand | 54/58 | €1,925 | €6,912 | +€4,987 | +259% |
| Deferred charges and accrued income | 490/1 | €4,630 | €3,272 | -€1,358 | -29.3% |
| Total equity and liabilities | 10/49 | €1,037,061 | €1,035,485 | -€1,576 | -0.2% |
| Equity | 10/15 | €23,170 | -€12,142 | -€35,312 | |
| Reserves | 13 | €20,147 | €20,147 | = | 0.0% |
| Distributable reserves | 133 | €20,147 | €20,147 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,023 | -€32,289 | -€35,312 | |
| Amounts payable | 17/49 | €1,013,890 | €1,047,627 | +€33,737 | +3.3% |
| Amounts payable after more than one year | 17 | €934,785 | €960,718 | +€25,932 | +2.8% |
| Financial debts | 170/4 | €564,624 | €528,556 | -€36,068 | -6.4% |
| Other amounts payable | 178/9 | €370,162 | €432,162 | +€62,000 | +16.7% |
| Amounts payable within one year | 42/48 | €75,127 | €66,406 | -€8,721 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €31,930 | €36,576 | +€4,646 | +14.5% |
| Trade debts | 44 | €40,544 | €27,780 | -€12,764 | -31.5% |
| Suppliers | 440/4 | €40,544 | €27,780 | -€12,764 | -31.5% |
| Taxes, remuneration and social security | 45 | €2,653 | €2,050 | -€603 | -22.7% |
| Taxes | 450/3 | €0 | €25 | +€25 | |
| Remuneration and social security | 454/9 | €2,653 | €2,025 | -€628 | -23.7% |
| Accrued charges and deferred income | 492/3 | €3,978 | €20,504 | +€16,526 | +415% |
| Remuneration, social security and pensions | 62 | €39,145 | €36,752 | -€2,393 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,018 | €24,208 | +€3,191 | +15.2% |
| Other operating charges | 640/8 | €2,326 | €2,777 | +€451 | +19.4% |
| Non-recurring operating charges | 66A | €18,556 | - | -€18,556 | |
| Gross operating margin | 9900 | €121,371 | €68,927 | -€52,444 | -43.2% |
| Operating profit (loss) | 9901 | €40,326 | €5,189 | -€35,137 | -87.1% |
| Financial income | 75/76B | €217 | €42 | -€174 | -80.5% |
| Recurring financial income | 75 | €217 | €42 | -€174 | -80.5% |
| Financial charges | 65/66B | €28,670 | €40,423 | +€11,754 | +41.0% |
| Recurring financial charges | 65 | €28,670 | €40,423 | +€11,754 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €11,873 | -€35,192 | -€47,065 | |
| Income taxes | 67/77 | €3,726 | €121 | -€3,606 | -96.8% |
| Profit (loss) for the period | 9904 | €8,147 | -€35,312 | -€43,459 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,147 | -€35,312 | -€43,459 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.