ARHAT: 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.
ARHAT
Largest movements
- Stocks and contracts +€124,935
up €124,935 (+12.2%), from €1.0m to €1.1m
- Receivables within one year +€50,074
up €50,074 (+19.1%), from €262,741 to €312,815
of which Trade receivables: +€49,212
- Tangible fixed assets +€29,822
up €29,822 (+640%), from €4,659 to €34,481
of which Furniture and vehicles: +€29,883
- Trade debts +€180,843
up €180,843 (+114%), from €158,378 to €339,221
- Profit (loss) carried forward +€25,533
up €25,533 (+4.9%), from €523,363 to €548,896
- Other debts +€22,468
up €22,468 (+11.5%), from €194,634 to €217,102
- Gross operating margin -€315,270
down €315,270 (-93.4%), from €337,666 to €22,396
- Taxes -€12,626
down €12,626 (-77.3%), from €16,339 to €3,713
- Financial income -€3,436
down €3,436 (-3.5%), from €98,335 to €94,899
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,320,169 | €1,536,607 | +€216,439 | +16.4% |
| Fixed assets | 21/28 | €8,209 | €38,031 | +€29,822 | +363% |
| Tangible fixed assets | 22/27 | €4,659 | €34,481 | +€29,822 | +640% |
| Plant, machinery and equipment | 23 | €183 | €122 | -€61 | -33.3% |
| Furniture and vehicles | 24 | €4,476 | €34,359 | +€29,883 | +668% |
| Financial fixed assets | 28 | €3,550 | €3,550 | = | 0.0% |
| Current assets | 29/58 | €1,311,960 | €1,498,577 | +€186,617 | +14.2% |
| Stocks and contracts in progress | 3 | €1,022,221 | €1,147,156 | +€124,935 | +12.2% |
| Stocks | 30/36 | €1,022,221 | €1,147,156 | +€124,935 | +12.2% |
| Amounts receivable within one year | 40/41 | €262,741 | €312,815 | +€50,074 | +19.1% |
| Trade receivables | 40 | €262,375 | €311,587 | +€49,212 | +18.8% |
| Other amounts receivable | 41 | €366 | €1,228 | +€861 | +235% |
| Cash at bank and in hand | 54/58 | €26,998 | €38,606 | +€11,609 | +43.0% |
| Total equity and liabilities | 10/49 | €1,320,169 | €1,536,607 | +€216,439 | +16.4% |
| Equity | 10/15 | €951,939 | €977,471 | +€25,533 | +2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €422,375 | €422,375 | = | 0.0% |
| Distributable reserves | 133 | €422,375 | €422,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | €523,363 | €548,896 | +€25,533 | +4.9% |
| Amounts payable | 17/49 | €368,230 | €559,136 | +€190,906 | +51.8% |
| Amounts payable within one year | 42/48 | €367,050 | €559,136 | +€192,086 | +52.3% |
| Trade debts | 44 | €158,378 | €339,221 | +€180,843 | +114% |
| Suppliers | 440/4 | €158,378 | €339,221 | +€180,843 | +114% |
| Taxes, remuneration and social security | 45 | €14,039 | €2,814 | -€11,225 | -80.0% |
| Taxes | 450/3 | €14,039 | €2,814 | -€11,225 | -80.0% |
| Other amounts payable | 47/48 | €194,634 | €217,102 | +€22,468 | +11.5% |
| Accrued charges and deferred income | 492/3 | €1,180 | - | -€1,180 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,288 | €3,389 | +€2,102 | +163% |
| Other operating charges | 640/8 | €1,171 | €1,205 | +€35 | +3.0% |
| Gross operating margin | 9900 | €337,666 | €22,396 | -€315,270 | -93.4% |
| Operating profit (loss) | 9901 | €335,208 | €17,801 | -€317,407 | -94.7% |
| Financial income | 75/76B | €98,335 | €94,899 | -€3,436 | -3.5% |
| Recurring financial income | 75 | €98,335 | €94,899 | -€3,436 | -3.5% |
| Financial charges | 65/66B | €85,938 | €83,454 | -€2,484 | -2.9% |
| Recurring financial charges | 65 | €85,938 | €83,454 | -€2,484 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €347,604 | €29,246 | -€318,359 | -91.6% |
| Income taxes | 67/77 | €16,339 | €3,713 | -€12,626 | -77.3% |
| Profit (loss) for the period | 9904 | €331,265 | €25,533 | -€305,732 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €331,265 | €25,533 | -€305,732 | -92.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.