ARFISO: 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.
ARFISO
Largest movements
- Cash +€389
up €389 (+235.8%), from €165 to €554
mainly Other debts (+€4,001)
- Other debts +€4,001
up €4,001 (+21.5%), from €18,599 to €22,600
- Profit (loss) carried forward -€3,356
down €3,356 (-8.6%), from -€38,976 to -€42,332
- Trade debts -€256
no longer reported in 2025 (was €256)
- Gross operating margin +€161
up €161 (+5.6%), from -€2,859 to -€2,698
- Financial charges -€110
no longer reported in 2025 (was €110)
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 | €339 | €728 | +€389 | +114.7% |
| Fixed assets | 21/28 | €174 | €174 | = | 0.0% |
| Financial fixed assets | 28 | €174 | €174 | = | 0.0% |
| Current assets | 29/58 | €165 | €554 | +€389 | +235.8% |
| Cash at bank and in hand | 54/58 | €165 | €554 | +€389 | +235.8% |
| Total equity and liabilities | 10/49 | €339 | €728 | +€389 | +114.7% |
| Equity | 10/15 | -€18,516 | -€21,872 | -€3,356 | -18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,976 | -€42,332 | -€3,356 | -8.6% |
| Amounts payable | 17/49 | €18,855 | €22,600 | +€3,745 | +19.9% |
| Amounts payable within one year | 42/48 | €18,855 | €22,600 | +€3,745 | +19.9% |
| Trade debts | 44 | €256 | - | -€256 | |
| Suppliers | 440/4 | €256 | - | -€256 | |
| Other amounts payable | 47/48 | €18,599 | €22,600 | +€4,001 | +21.5% |
| Remuneration, social security and pensions | 62 | €275 | €271 | -€4 | -1.5% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | -€2,859 | -€2,698 | +€161 | +5.6% |
| Operating profit (loss) | 9901 | -€3,518 | -€3,356 | +€162 | +4.6% |
| Financial charges | 65/66B | €110 | - | -€110 | |
| Recurring financial charges | 65 | €110 | - | -€110 | |
| Profit (loss) for the period before taxes | 9903 | -€3,628 | -€3,356 | +€272 | +7.5% |
| Profit (loss) for the period | 9904 | -€3,628 | -€3,356 | +€272 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,628 | -€3,356 | +€272 | +7.5% |
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 6 October 2026 via checked.be.