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
- Receivables within one year -€9.4m
down €9.4m (-96.5%), from €9.8m to €343,555
of which Trade receivables: -€9.4m
- Cash +€7.5m
up €7.5m (+2230.6%), from €334,138 to €7.8m
mainly Receivables within one year (+€9.4m) and Contributions, distributions and other (+€3.5m)
- Stocks and contracts +€1.4m
up €1.4m (+12.8%), from €10.8m to €12.2m
- Current portion of long-term debt -€5.9m
down €5.9m (-34.3%), from €17.1m to €11.3m
- Contributions +€4.5m
up €4.5m (+40965.0%), from €10,985 to €4.5m
- Other debts +€932,472
up €932,472 (+1380.9%), from €67,528 to €1.0m
- Turnover -€11.3m
no longer reported in 2025 (was €11.3m)
- Purchases and services -€9.9m
no longer reported in 2025 (was €9.9m)
- Financial income +€127,218
up €127,218 (+1837.6%), from €6,923 to €134,141
- Gross operating margin +€125,607
up €125,607 (+8.5%), from €1.5m to €1.6m
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 | €20,947,685 | €20,347,776 | -€599,909 | -2.9% |
| Current assets | 29/58 | €20,947,685 | €20,347,776 | -€599,909 | -2.9% |
| Stocks and contracts in progress | 3 | €10,825,152 | €12,209,295 | +€1.4m | +12.8% |
| Stocks | 30/36 | €10,825,152 | €12,209,295 | +€1.4m | +12.8% |
| Amounts receivable within one year | 40/41 | €9,788,395 | €343,555 | -€9.4m | -96.5% |
| Trade receivables | 40 | €9,785,915 | €336,236 | -€9.4m | -96.6% |
| Other amounts receivable | 41 | €2,480 | €7,319 | +€4,839 | +195.1% |
| Cash at bank and in hand | 54/58 | €334,138 | €7,787,545 | +€7.5m | +2230.6% |
| Deferred charges and accrued income | 490/1 | - | €7,381 | +€7,381 | |
| Total equity and liabilities | 10/49 | €20,947,685 | €20,347,776 | -€599,909 | -2.9% |
| Equity | 10/15 | €3,625,690 | €8,069,163 | +€4.4m | +122.6% |
| Contributions | 10/11 | €10,985 | €4,510,985 | +€4.5m | +40965.0% |
| Reserves | 13 | €3,614,705 | €3,558,178 | -€56,527 | -1.6% |
| Distributable reserves | 133 | €3,614,705 | €3,558,178 | -€56,527 | -1.6% |
| Amounts payable | 17/49 | €17,321,995 | €12,278,613 | -€5.0m | -29.1% |
| Amounts payable within one year | 42/48 | €17,212,730 | €12,278,613 | -€4.9m | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €17,126,116 | €11,257,703 | -€5.9m | -34.3% |
| Trade debts | 44 | €2,766 | €2,454 | -€312 | -11.3% |
| Suppliers | 440/4 | €2,766 | €2,454 | -€312 | -11.3% |
| Taxes, remuneration and social security | 45 | €16,320 | €18,456 | +€2,136 | +13.1% |
| Taxes | 450/3 | €16,320 | €18,456 | +€2,136 | +13.1% |
| Other amounts payable | 47/48 | €67,528 | €1,000,000 | +€932,472 | +1380.9% |
| Accrued charges and deferred income | 492/3 | €109,265 | - | -€109,265 | |
| Turnover | 70 | €11,337,133 | - | -€11.3m | |
| Goods, raw materials, services and sundry goods | 60/61 | €9,867,240 | - | -€9.9m | |
| Other operating charges | 640/8 | €1,745 | €1,925 | +€180 | +10.3% |
| Gross operating margin | 9900 | €1,469,893 | €1,595,500 | +€125,607 | +8.5% |
| Operating profit (loss) | 9901 | €1,468,148 | €1,593,575 | +€125,427 | +8.5% |
| Financial income | 75/76B | €6,923 | €134,141 | +€127,218 | +1837.6% |
| Recurring financial income | 75 | €6,923 | €134,141 | +€127,218 | +1837.6% |
| Financial charges | 65/66B | €870,563 | €778,627 | -€91,936 | -10.6% |
| Recurring financial charges | 65 | €870,563 | €778,627 | -€91,936 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €604,508 | €949,089 | +€344,581 | +57.0% |
| Income taxes | 67/77 | €15,572 | €5,615 | -€9,957 | -63.9% |
| Profit (loss) for the period | 9904 | €588,936 | €943,474 | +€354,538 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €588,936 | €943,474 | +€354,538 | +60.2% |
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 7 October 2026 via checked.be.