ARION: 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.
ARION
Largest movements
- Cash -€72,635
down €72,635 (-23.3%), from €311,745 to €239,110
mainly Debts after one year (-€42,048) and Net result for the year (-€19,402)
- Tangible fixed assets -€8,277
down €8,277 (-3.6%), from €230,259 to €221,982
of which Land and buildings: -€7,946
- Debts after one year -€42,048
no longer reported in 2025 (was €42,048)
- Profit (loss) carried forward -€19,402
new in 2025: -€19,402
- Other debts -€17,636
down €17,636 (-39.2%), from €45,028 to €27,392
- Gross operating margin -€473,625
down €473,625 (-99.9%), from €473,975 to €350
- Taxes -€131,061
no longer reported in 2025 (was €131,061)
- Other operating charges +€8,788
up €8,788 (+880.2%), from €998 to €9,786
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 | €547,564 | €468,722 | -€78,842 | -14.4% |
| Fixed assets | 21/28 | €230,259 | €221,982 | -€8,277 | -3.6% |
| Tangible fixed assets | 22/27 | €230,259 | €221,982 | -€8,277 | -3.6% |
| Land and buildings | 22 | €229,929 | €221,982 | -€7,946 | -3.5% |
| Furniture and vehicles | 24 | €331 | €0 | -€331 | -100.0% |
| Current assets | 29/58 | €317,305 | €246,740 | -€70,566 | -22.2% |
| Amounts receivable within one year | 40/41 | €5,560 | €5,104 | -€456 | -8.2% |
| Other amounts receivable | 41 | €5,560 | €5,104 | -€456 | -8.2% |
| Cash at bank and in hand | 54/58 | €311,745 | €239,110 | -€72,635 | -23.3% |
| Deferred charges and accrued income | 490/1 | - | €2,525 | +€2,525 | |
| Total equity and liabilities | 10/49 | €547,564 | €468,722 | -€78,842 | -14.4% |
| Equity | 10/15 | €283,756 | €264,354 | -€19,402 | -6.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €221,756 | €221,756 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €215,556 | €215,556 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€19,402 | -€19,402 | |
| Amounts payable | 17/49 | €263,808 | €204,368 | -€59,440 | -22.5% |
| Amounts payable after more than one year | 17 | €42,048 | - | -€42,048 | |
| Financial debts | 170/4 | €42,048 | - | -€42,048 | |
| Amounts payable within one year | 42/48 | €221,760 | €204,368 | -€17,392 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €44,884 | €42,048 | -€2,837 | -6.3% |
| Trade debts | 44 | €787 | €3,866 | +€3,080 | +391.5% |
| Suppliers | 440/4 | €787 | €3,866 | +€3,080 | +391.5% |
| Taxes, remuneration and social security | 45 | €131,061 | €131,061 | = | 0.0% |
| Taxes | 450/3 | €131,061 | €131,061 | = | 0.0% |
| Other amounts payable | 47/48 | €45,028 | €27,392 | -€17,636 | -39.2% |
| Non-recurring operating income | 76A | €438,597 | - | -€438,597 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,329 | €8,277 | -€52 | -0.6% |
| Other operating charges | 640/8 | €998 | €9,786 | +€8,788 | +880.2% |
| Non-recurring operating charges | 66A | €1,427 | - | -€1,427 | |
| Gross operating margin | 9900 | €473,975 | €350 | -€473,625 | -99.9% |
| Operating profit (loss) | 9901 | €463,220 | -€17,713 | -€480,934 | |
| Financial charges | 65/66B | €2,692 | €1,689 | -€1,003 | -37.3% |
| Recurring financial charges | 65 | €2,692 | €1,689 | -€1,003 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €460,529 | -€19,402 | -€479,931 | |
| Income taxes | 67/77 | €131,061 | - | -€131,061 | |
| Profit (loss) for the period | 9904 | €329,467 | -€19,402 | -€348,869 | |
| Profit (loss) for the period to be appropriated | 9905 | €329,467 | -€19,402 | -€348,869 |
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 29 September 2026 via checked.be.