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
- Current investments +€49,603
up €49,603 (+23.8%), from €208,761 to €258,364
- Tangible fixed assets -€25,958
down €25,958 (-4.8%), from €543,020 to €517,062
of which Land and buildings: -€25,675
- Intangible fixed assets -€23,091
down €23,091 (-100%), from €23,091 to €0
- Cash +€9,943
up €9,943 (+24.6%), from €40,436 to €50,379
mainly Depreciation (+€50,069) and Trade debts (+€6,851)
No liability line moved by more than 1% of the balance sheet total.
- Depreciation -€21,968
down €21,968 (-30.5%), from €72,037 to €50,069
- Gross operating margin -€9,265
down €9,265 (-10.3%), from €89,736 to €80,471
- Taxes +€7,579
up €7,579 (+588%), from €1,289 to €8,868
- Other operating charges +€5,368
up €5,368 (+20.8%), from €25,786 to €31,154
- Financial income -€2,406
down €2,406 (-15.9%), from €15,172 to €12,766
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 | €821,685 | €834,597 | +€12,913 | +1.6% |
| Fixed assets | 21/28 | €566,111 | €517,062 | -€49,049 | -8.7% |
| Intangible fixed assets | 21 | €23,091 | €0 | -€23,091 | -100% |
| Tangible fixed assets | 22/27 | €543,020 | €517,062 | -€25,958 | -4.8% |
| Land and buildings | 22 | €540,377 | €514,702 | -€25,675 | -4.8% |
| Plant, machinery and equipment | 23 | - | €850 | +€850 | |
| Furniture and vehicles | 24 | €2,643 | €1,510 | -€1,133 | -42.9% |
| Current assets | 29/58 | €255,574 | €317,535 | +€61,961 | +24.2% |
| Amounts receivable within one year | 40/41 | €2,592 | €4,885 | +€2,293 | +88.5% |
| Trade receivables | 40 | €2,580 | €4,885 | +€2,305 | +89.4% |
| Other amounts receivable | 41 | €12 | €0 | -€12 | -100% |
| Current investments | 50/53 | €208,761 | €258,364 | +€49,603 | +23.8% |
| Cash at bank and in hand | 54/58 | €40,436 | €50,379 | +€9,943 | +24.6% |
| Deferred charges and accrued income | 490/1 | €3,785 | €3,907 | +€122 | +3.2% |
| Total equity and liabilities | 10/49 | €821,685 | €834,597 | +€12,913 | +1.6% |
| Equity | 10/15 | €437,009 | €438,856 | +€1,847 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €418,409 | €420,256 | +€1,847 | +0.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €362,159 | €364,006 | +€1,847 | +0.5% |
| Amounts payable | 17/49 | €384,676 | €395,741 | +€11,065 | +2.9% |
| Amounts payable within one year | 42/48 | €374,497 | €386,391 | +€11,895 | +3.2% |
| Trade debts | 44 | €604 | €7,455 | +€6,851 | +1,134% |
| Suppliers | 440/4 | €604 | €7,455 | +€6,851 | +1,134% |
| Advances received on contracts in progress | 46 | €310 | €0 | -€310 | -100% |
| Taxes, remuneration and social security | 45 | €867 | €5,486 | +€4,619 | +533% |
| Taxes | 450/3 | €867 | €5,486 | +€4,619 | +533% |
| Other amounts payable | 47/48 | €372,716 | €373,451 | +€735 | +0.2% |
| Accrued charges and deferred income | 492/3 | €10,179 | €9,350 | -€829 | -8.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,037 | €50,069 | -€21,968 | -30.5% |
| Other operating charges | 640/8 | €25,786 | €31,154 | +€5,368 | +20.8% |
| Non-recurring operating charges | 66A | €0 | €1,170 | +€1,170 | |
| Gross operating margin | 9900 | €89,736 | €80,471 | -€9,265 | -10.3% |
| Operating profit (loss) | 9901 | -€8,087 | -€1,922 | +€6,165 | +76.2% |
| Financial income | 75/76B | €15,172 | €12,766 | -€2,406 | -15.9% |
| Recurring financial income | 75 | €15,172 | €12,766 | -€2,406 | -15.9% |
| Financial charges | 65/66B | €135 | €129 | -€6 | -4.8% |
| Recurring financial charges | 65 | €135 | €129 | -€6 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €6,950 | €10,715 | +€3,765 | +54.2% |
| Income taxes | 67/77 | €1,289 | €8,868 | +€7,579 | +588% |
| Profit (loss) for the period | 9904 | €5,661 | €1,847 | -€3,814 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,661 | €1,847 | -€3,814 | -67.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.