ARHA STUDIO: 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.
ARHA STUDIO
Largest movements
- Stocks and contracts -€24,924
down €24,924 (-50.4%), from €49,484 to €24,560
- Receivables within one year +€11,236
up €11,236 (+131%), from €8,603 to €19,839
of which Trade receivables: +€11,236
- Cash -€6,303
down €6,303 (-100%), from €6,303 to €0
mainly Net result for the year (-€16,521) and Receivables within one year (-€11,236)
- Tangible fixed assets -€5,691
down €5,691 (-40.8%), from €13,936 to €8,244
of which Furniture and vehicles: -€5,060
- Deferred charges and accrued income -€985
down €985 (-37.4%), from €2,635 to €1,649
- Profit (loss) carried forward -€16,521
down €16,521 (-314%), from -€5,267 to -€21,788
- Debts after one year -€10,277
down €10,277 (-43.9%), from €23,411 to €13,134
of which Financial debts: -€9,416
- Short-term financial debts +€6,340
up €6,340 (+41.6%), from €15,237 to €21,577
- Trade debts -€6,032
down €6,032 (-47.5%), from €12,690 to €6,658
- Other debts +€3,813
up €3,813 (+50.7%), from €7,527 to €11,339
- Gross operating margin -€30,531
down €30,531, from €27,330 to -€3,201
- Staff costs -€7,614
down €7,614 (-78.1%), from €9,746 to €2,132
- Write-downs -€3,281
down €3,281, from €1,978 to -€1,303
- Other operating charges -€1,022
down €1,022 (-33.7%), from €3,032 to €2,011
- Financial charges -€912
down €912 (-21.1%), from €4,317 to €3,404
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 | €85,878 | €58,937 | -€26,941 | -31.4% |
| Fixed assets | 21/28 | €18,853 | €12,888 | -€5,965 | -31.6% |
| Intangible fixed assets | 21 | €517 | €244 | -€273 | -52.8% |
| Tangible fixed assets | 22/27 | €13,936 | €8,244 | -€5,691 | -40.8% |
| Furniture and vehicles | 24 | €10,670 | €5,610 | -€5,060 | -47.4% |
| Other tangible fixed assets | 26 | €3,265 | €2,634 | -€631 | -19.3% |
| Financial fixed assets | 28 | €4,400 | €4,400 | = | 0.0% |
| Current assets | 29/58 | €67,025 | €46,048 | -€20,976 | -31.3% |
| Stocks and contracts in progress | 3 | €49,484 | €24,560 | -€24,924 | -50.4% |
| Stocks | 30/36 | €49,484 | €24,560 | -€24,924 | -50.4% |
| Amounts receivable within one year | 40/41 | €8,603 | €19,839 | +€11,236 | +131% |
| Trade receivables | 40 | €8,603 | €19,839 | +€11,236 | +131% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,303 | €0 | -€6,303 | -100% |
| Deferred charges and accrued income | 490/1 | €2,635 | €1,649 | -€985 | -37.4% |
| Total equity and liabilities | 10/49 | €85,878 | €58,937 | -€26,941 | -31.4% |
| Equity | 10/15 | €4,173 | -€12,348 | -€16,521 | |
| Contributions | 10/11 | €9,440 | €9,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,267 | -€21,788 | -€16,521 | -314% |
| Amounts payable | 17/49 | €81,705 | €71,285 | -€10,420 | -12.8% |
| Amounts payable after more than one year | 17 | €23,411 | €13,134 | -€10,277 | -43.9% |
| Financial debts | 170/4 | €22,550 | €13,134 | -€9,416 | -41.8% |
| Other amounts payable | 178/9 | €861 | €0 | -€861 | -100% |
| Amounts payable within one year | 42/48 | €57,104 | €55,115 | -€1,989 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €13,150 | €9,416 | -€3,734 | -28.4% |
| Financial debts | 43 | €15,237 | €21,577 | +€6,340 | +41.6% |
| Credit institutions | 430/8 | €15,237 | €21,577 | +€6,340 | +41.6% |
| Trade debts | 44 | €12,690 | €6,658 | -€6,032 | -47.5% |
| Suppliers | 440/4 | €12,690 | €6,658 | -€6,032 | -47.5% |
| Taxes, remuneration and social security | 45 | €8,500 | €6,124 | -€2,375 | -27.9% |
| Taxes | 450/3 | €8,405 | €6,110 | -€2,294 | -27.3% |
| Remuneration and social security | 454/9 | €95 | €14 | -€81 | -85.3% |
| Other amounts payable | 47/48 | €7,527 | €11,339 | +€3,813 | +50.7% |
| Accrued charges and deferred income | 492/3 | €1,190 | €3,036 | +€1,846 | +155% |
| Remuneration, social security and pensions | 62 | €9,746 | €2,132 | -€7,614 | -78.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,087 | €7,117 | +€30 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,978 | -€1,303 | -€3,281 | |
| Other operating charges | 640/8 | €3,032 | €2,011 | -€1,022 | -33.7% |
| Gross operating margin | 9900 | €27,330 | -€3,201 | -€30,531 | |
| Operating profit (loss) | 9901 | €5,486 | -€13,158 | -€18,644 | |
| Financial income | 75/76B | €239 | €310 | +€71 | +29.7% |
| Recurring financial income | 75 | €239 | €310 | +€71 | +29.7% |
| Financial charges | 65/66B | €4,317 | €3,404 | -€912 | -21.1% |
| Recurring financial charges | 65 | €4,317 | €3,404 | -€912 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €1,409 | -€16,252 | -€17,661 | |
| Income taxes | 67/77 | €278 | €269 | -€9 | -3.2% |
| Profit (loss) for the period | 9904 | €1,131 | -€16,521 | -€17,652 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,131 | -€16,521 | -€17,652 |
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.