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
- Cash -€55,369
down €55,369 (-58.7%), from €94,359 to €38,991
mainly Trade debts (-€13,837) and Accrued charges and deferred income (-€12,860)
- Deferred charges and accrued income +€9,710
up €9,710 (+348%), from €2,790 to €12,500
- Receivables within one year +€7,218
up €7,218 (+19.1%), from €37,734 to €44,952
of which Trade receivables: +€10,429
- Trade debts -€13,837
down €13,837 (-42.5%), from €32,589 to €18,752
- Accrued charges and deferred income -€12,860
no longer reported in 2025 (was €12,860)
- Other debts -€7,816
down €7,816 (-12.5%), from €62,725 to €54,909
- Profit (loss) carried forward -€3,436
down €3,436, from €3,420 to -€15
- Gross operating margin -€5,868
down €5,868 (-82.0%), from €7,158 to €1,290
- Depreciation -€1,573
down €1,573 (-72.2%), from €2,177 to €605
- Financial income +€1,517
new in 2025: €1,517
- Financial charges -€316
down €316 (-7.0%), from €4,536 to €4,219
- Staff costs -€115
down €115 (-22.3%), from €515 to €400
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 | €135,538 | €96,492 | -€39,045 | -28.8% |
| Fixed assets | 21/28 | €655 | €50 | -€605 | -92.4% |
| Tangible fixed assets | 22/27 | €605 | - | -€605 | |
| Furniture and vehicles | 24 | €605 | - | -€605 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €134,883 | €96,442 | -€38,440 | -28.5% |
| Amounts receivable within one year | 40/41 | €37,734 | €44,952 | +€7,218 | +19.1% |
| Trade receivables | 40 | €34,523 | €44,952 | +€10,429 | +30.2% |
| Other amounts receivable | 41 | €3,210 | - | -€3,210 | |
| Cash at bank and in hand | 54/58 | €94,359 | €38,991 | -€55,369 | -58.7% |
| Deferred charges and accrued income | 490/1 | €2,790 | €12,500 | +€9,710 | +348% |
| Total equity and liabilities | 10/49 | €135,538 | €96,492 | -€39,045 | -28.8% |
| Equity | 10/15 | €23,871 | €20,436 | -€3,436 | -14.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,420 | -€15 | -€3,436 | |
| Amounts payable | 17/49 | €111,666 | €76,057 | -€35,610 | -31.9% |
| Amounts payable within one year | 42/48 | €98,807 | €76,057 | -€22,750 | -23.0% |
| Trade debts | 44 | €32,589 | €18,752 | -€13,837 | -42.5% |
| Suppliers | 440/4 | €32,589 | €18,752 | -€13,837 | -42.5% |
| Taxes, remuneration and social security | 45 | €3,493 | €2,395 | -€1,098 | -31.4% |
| Taxes | 450/3 | €3,493 | €2,395 | -€1,098 | -31.4% |
| Other amounts payable | 47/48 | €62,725 | €54,909 | -€7,816 | -12.5% |
| Accrued charges and deferred income | 492/3 | €12,860 | - | -€12,860 | |
| Remuneration, social security and pensions | 62 | €515 | €400 | -€115 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,177 | €605 | -€1,573 | -72.2% |
| Other operating charges | 640/8 | €771 | €786 | +€15 | +2.0% |
| Gross operating margin | 9900 | €7,158 | €1,290 | -€5,868 | -82.0% |
| Operating profit (loss) | 9901 | €3,695 | -€500 | -€4,196 | |
| Financial income | 75/76B | - | €1,517 | +€1,517 | |
| Recurring financial income | 75 | - | €1,517 | +€1,517 | |
| Financial charges | 65/66B | €4,536 | €4,219 | -€316 | -7.0% |
| Recurring financial charges | 65 | €4,536 | €4,219 | -€316 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€840 | -€3,203 | -€2,363 | -281% |
| Income taxes | 67/77 | €135 | €233 | +€98 | +72.6% |
| Profit (loss) for the period | 9904 | -€975 | -€3,436 | -€2,461 | -252% |
| Profit (loss) for the period to be appropriated | 9905 | -€975 | -€3,436 | -€2,461 | -252% |
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 25 October 2026 via checked.be.