ARIZONA: 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.
ARIZONA
Largest movements
- Receivables within one year -€38,370
down €38,370 (-40.6%), from €94,453 to €56,083
of which Other amounts receivable: -€38,370
- Tangible fixed assets -€35,160
down €35,160 (-13.1%), from €269,177 to €234,018
of which Land and buildings: -€23,293
- Reserves -€65,607
down €65,607 (-9.5%), from €690,634 to €625,027
- Trade debts -€10,159
down €10,159 (-62.3%), from €16,299 to €6,140
- Gross operating margin -€32,097
down €32,097 (-63.2%), from €50,789 to €18,692
- Taxes -€5,785
down €5,785 (-96.3%), from €6,006 to €221
- Depreciation -€1,940
down €1,940 (-5.2%), from €37,099 to €35,160
- Financial income +€712
up €712 (+15.9%), from €4,479 to €5,191
- Other operating charges -€672
down €672 (-13.6%), from €4,944 to €4,271
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 | €928,662 | €850,547 | -€78,115 | -8.4% |
| Fixed assets | 21/28 | €779,391 | €744,231 | -€35,160 | -4.5% |
| Tangible fixed assets | 22/27 | €269,177 | €234,018 | -€35,160 | -13.1% |
| Land and buildings | 22 | €223,689 | €200,396 | -€23,293 | -10.4% |
| Furniture and vehicles | 24 | €45,489 | €33,622 | -€11,867 | -26.1% |
| Financial fixed assets | 28 | €510,213 | €510,213 | = | 0.0% |
| Current assets | 29/58 | €149,271 | €106,316 | -€42,955 | -28.8% |
| Amounts receivable within one year | 40/41 | €94,453 | €56,083 | -€38,370 | -40.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €94,453 | €56,083 | -€38,370 | -40.6% |
| Cash at bank and in hand | 54/58 | €52,665 | €48,113 | -€4,553 | -8.6% |
| Deferred charges and accrued income | 490/1 | €2,153 | €2,121 | -€32 | -1.5% |
| Total equity and liabilities | 10/49 | €928,662 | €850,547 | -€78,115 | -8.4% |
| Equity | 10/15 | €900,947 | €835,340 | -€65,607 | -7.3% |
| Contributions | 10/11 | €210,313 | €210,313 | = | 0.0% |
| Reserves | 13 | €690,634 | €625,027 | -€65,607 | -9.5% |
| Distributable reserves | 133 | €690,634 | €625,027 | -€65,607 | -9.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €27,715 | €15,207 | -€12,508 | -45.1% |
| Amounts payable within one year | 42/48 | €27,193 | €14,685 | -€12,508 | -46.0% |
| Trade debts | 44 | €16,299 | €6,140 | -€10,159 | -62.3% |
| Suppliers | 440/4 | €16,299 | €6,140 | -€10,159 | -62.3% |
| Taxes, remuneration and social security | 45 | €5,729 | €7,162 | +€1,433 | +25.0% |
| Taxes | 450/3 | €5,729 | €7,162 | +€1,433 | +25.0% |
| Other amounts payable | 47/48 | €5,165 | €1,383 | -€3,782 | -73.2% |
| Accrued charges and deferred income | 492/3 | €523 | €523 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,099 | €35,160 | -€1,940 | -5.2% |
| Other operating charges | 640/8 | €4,944 | €4,271 | -€672 | -13.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €50,789 | €18,692 | -€32,097 | -63.2% |
| Operating profit (loss) | 9901 | €8,746 | -€20,739 | -€29,485 | |
| Financial income | 75/76B | €4,479 | €5,191 | +€712 | +15.9% |
| Recurring financial income | 75 | €4,479 | €5,191 | +€712 | +15.9% |
| Financial charges | 65/66B | €1,232 | €777 | -€455 | -36.9% |
| Recurring financial charges | 65 | €1,232 | €777 | -€455 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | €11,993 | -€16,325 | -€28,318 | |
| Income taxes | 67/77 | €6,006 | €221 | -€5,785 | -96.3% |
| Profit (loss) for the period | 9904 | €5,987 | -€16,546 | -€22,533 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,987 | -€16,546 | -€22,533 |
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 24 October 2026 via checked.be.