ARION: 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.
ARION
Largest movements
- Receivables after one year -€20,320
down €20,320 (-6.3%), from €321,639 to €301,319
- Reserves -€11,257
down €11,257 (-3.1%), from €367,587 to €356,330
of which Distributable reserves: -€11,257
- Gross operating margin +€2,267
up €2,267 (+4.8%), from €47,466 to €49,733
- Financial income -€691
down €691 (-7.9%), from €8,723 to €8,032
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 | €402,550 | €388,709 | -€13,841 | -3.4% |
| Fixed assets | 21/28 | €250 | €2,609 | +€2,359 | +943.5% |
| Tangible fixed assets | 22/27 | - | €2,359 | +€2,359 | |
| Plant, machinery and equipment | 23 | - | €2,359 | +€2,359 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €402,300 | €386,100 | -€16,199 | -4.0% |
| Amounts receivable after more than one year | 29 | €321,639 | €301,319 | -€20,320 | -6.3% |
| Other amounts receivable | 291 | €321,639 | €301,319 | -€20,320 | -6.3% |
| Amounts receivable within one year | 40/41 | €16,093 | €18,020 | +€1,926 | +12.0% |
| Trade receivables | 40 | €16,093 | €18,020 | +€1,926 | +12.0% |
| Cash at bank and in hand | 54/58 | €64,567 | €66,761 | +€2,194 | +3.4% |
| Total equity and liabilities | 10/49 | €402,550 | €388,709 | -€13,841 | -3.4% |
| Equity | 10/15 | €386,137 | €374,880 | -€11,257 | -2.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €367,587 | €356,330 | -€11,257 | -3.1% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €348,837 | €337,580 | -€11,257 | -3.2% |
| Amounts payable | 17/49 | €16,413 | €13,829 | -€2,584 | -15.7% |
| Amounts payable within one year | 42/48 | €16,413 | €13,829 | -€2,584 | -15.7% |
| Trade debts | 44 | €2,679 | €807 | -€1,872 | -69.9% |
| Suppliers | 440/4 | €2,679 | €807 | -€1,872 | -69.9% |
| Taxes, remuneration and social security | 45 | €13,601 | €13,022 | -€580 | -4.3% |
| Taxes | 450/3 | €13,601 | €11,898 | -€1,704 | -12.5% |
| Remuneration and social security | 454/9 | - | €1,124 | +€1,124 | |
| Other amounts payable | 47/48 | €132 | - | -€132 | |
| Non-recurring operating income | 76A | - | €4,500 | +€4,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €214 | +€214 | |
| Other operating charges | 640/8 | €998 | €933 | -€65 | -6.5% |
| Gross operating margin | 9900 | €47,466 | €49,733 | +€2,267 | +4.8% |
| Operating profit (loss) | 9901 | €46,468 | €48,585 | +€2,117 | +4.6% |
| Financial income | 75/76B | €8,723 | €8,032 | -€691 | -7.9% |
| Recurring financial income | 75 | €8,723 | €8,032 | -€691 | -7.9% |
| Financial charges | 65/66B | €99 | €118 | +€19 | +19.0% |
| Recurring financial charges | 65 | €99 | €118 | +€19 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €55,092 | €56,499 | +€1,407 | +2.6% |
| Income taxes | 67/77 | €15,593 | €15,756 | +€163 | +1.0% |
| Profit (loss) for the period | 9904 | €39,499 | €40,743 | +€1,244 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,499 | €40,743 | +€1,244 | +3.2% |
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 11 October 2026 via checked.be.