ARIZO: 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.
ARIZO
Largest movements
- Cash -€67,144
down €67,144 (-13.8%), from €487,229 to €420,085
mainly Trade debts (-€194,315) and Contributions, distributions and other (-€86,441)
- Receivables within one year -€60,076
down €60,076 (-10.7%), from €561,174 to €501,098
of which Other amounts receivable: -€45,534
- Intangible fixed assets -€12,427
no longer reported in 2025 (was €12,427)
- Trade debts -€194,315
down €194,315 (-60.1%), from €323,148 to €128,833
- Reserves +€57,369
up €57,369 (+10.3%), from €558,104 to €615,474
- Tax, wage and social debts +€49,467
up €49,467 (+39.4%), from €125,476 to €174,943
of which Remuneration and social security: +€43,599
- Current portion of long-term debt -€47,281
down €47,281 (-81.4%), from €58,108 to €10,828
- Staff costs +€214,409
up €214,409 (+16.2%), from €1.3m to €1.5m
- Depreciation -€68,350
down €68,350 (-73.8%), from €92,663 to €24,313
- Taxes -€42,207
down €42,207 (-33.4%), from €126,461 to €84,254
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 | €1,086,566 | €940,980 | -€145,587 | -13.4% |
| Fixed assets | 21/28 | €38,164 | €19,797 | -€18,367 | -48.1% |
| Intangible fixed assets | 21 | €12,427 | - | -€12,427 | |
| Tangible fixed assets | 22/27 | €6,697 | €637 | -€6,060 | -90.5% |
| Plant, machinery and equipment | 23 | €6,697 | €637 | -€6,060 | -90.5% |
| Other tangible fixed assets | 26 | €0 | €0 | = | 0.0% |
| Financial fixed assets | 28 | €19,040 | €19,160 | +€120 | +0.6% |
| Current assets | 29/58 | €1,048,402 | €921,183 | -€127,219 | -12.1% |
| Amounts receivable within one year | 40/41 | €561,174 | €501,098 | -€60,076 | -10.7% |
| Trade receivables | 40 | €367,198 | €352,656 | -€14,541 | -4.0% |
| Other amounts receivable | 41 | €193,976 | €148,442 | -€45,534 | -23.5% |
| Cash at bank and in hand | 54/58 | €487,229 | €420,085 | -€67,144 | -13.8% |
| Total equity and liabilities | 10/49 | €1,086,566 | €940,980 | -€145,587 | -13.4% |
| Equity | 10/15 | €569,005 | €626,374 | +€57,369 | +10.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €558,104 | €615,474 | +€57,369 | +10.3% |
| Distributable reserves | 133 | €558,104 | €615,474 | +€57,369 | +10.3% |
| Profit (loss) carried forward | 14 | -€19,100 | -€19,100 | = | 0.0% |
| Amounts payable | 17/49 | €517,562 | €314,606 | -€202,956 | -39.2% |
| Amounts payable after more than one year | 17 | €10,828 | - | -€10,828 | |
| Financial debts | 170/4 | €10,828 | - | -€10,828 | |
| Amounts payable within one year | 42/48 | €506,734 | €314,606 | -€192,128 | -37.9% |
| Current portion of amounts payable after more than one year | 42 | €58,108 | €10,828 | -€47,281 | -81.4% |
| Trade debts | 44 | €323,148 | €128,833 | -€194,315 | -60.1% |
| Suppliers | 440/4 | €323,148 | €128,833 | -€194,315 | -60.1% |
| Taxes, remuneration and social security | 45 | €125,476 | €174,943 | +€49,467 | +39.4% |
| Taxes | 450/3 | €4,869 | €10,736 | +€5,868 | +121% |
| Remuneration and social security | 454/9 | €120,607 | €164,206 | +€43,599 | +36.1% |
| Other amounts payable | 47/48 | €2 | €2 | +€0 | +1.0% |
| Remuneration, social security and pensions | 62 | €1,326,082 | €1,540,491 | +€214,409 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,663 | €24,313 | -€68,350 | -73.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €573 | +€573 | |
| Other operating charges | 640/8 | €5,573 | €4,926 | -€647 | -11.6% |
| Gross operating margin | 9900 | €1,828,101 | €1,822,623 | -€5,478 | -0.3% |
| Operating profit (loss) | 9901 | €403,783 | €252,321 | -€151,462 | -37.5% |
| Financial income | 75/76B | €534 | €243 | -€290 | -54.4% |
| Recurring financial income | 75 | €534 | €243 | -€290 | -54.4% |
| Financial charges | 65/66B | €29,084 | €24,500 | -€4,583 | -15.8% |
| Recurring financial charges | 65 | €29,084 | €24,500 | -€4,583 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €375,233 | €228,064 | -€147,169 | -39.2% |
| Income taxes | 67/77 | €126,461 | €84,254 | -€42,207 | -33.4% |
| Profit (loss) for the period | 9904 | €248,772 | €143,810 | -€104,962 | -42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €248,772 | €143,810 | -€104,962 | -42.2% |
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 13 October 2026 via checked.be.