ARJEMA: 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.
ARJEMA
Largest movements
- Current investments +€150,174
new in 2025: €150,174
- Cash -€124,468
down €124,468 (-64.6%), from €192,731 to €68,263
mainly Current investments (-€150,174) and Investment in fixed assets (net) (-€105,641)
- Deferred charges and accrued income -€120,013
down €120,013 (-97.9%), from €122,538 to €2,525
- Tangible fixed assets +€84,061
up €84,061 (+376.1%), from €22,352 to €106,413
of which Furniture and vehicles: +€87,465
- Other debts -€88,446
down €88,446 (-93.1%), from €94,976 to €6,530
- Reserves +€64,197
up €64,197 (+11.2%), from €572,013 to €636,210
- Tax, wage and social debts +€14,697
up €14,697 (+46.6%), from €31,546 to €46,243
of which Taxes: +€13,802
- Trade debts +€11,145
up €11,145 (+1567.2%), from €711 to €11,856
- Current portion of long-term debt -€9,361
down €9,361 (-64.7%), from €14,459 to €5,098
- Financial income -€119,750
down €119,750 (-99.8%), from €120,000 to €250
- Depreciation +€18,176
up €18,176 (+534.0%), from €3,404 to €21,580
- Taxes -€12,558
down €12,558 (-24.3%), from €51,589 to €39,030
- Gross operating margin -€12,373
down €12,373 (-8.7%), from €141,419 to €129,046
- Other operating charges +€3,122
up €3,122 (+694.7%), from €449 to €3,571
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 | €873,784 | €860,463 | -€13,321 | -1.5% |
| Fixed assets | 21/28 | €503,554 | €587,616 | +€84,061 | +16.7% |
| Tangible fixed assets | 22/27 | €22,352 | €106,413 | +€84,061 | +376.1% |
| Furniture and vehicles | 24 | €0 | €87,465 | +€87,465 | |
| Other tangible fixed assets | 26 | €22,352 | €18,948 | -€3,404 | -15.2% |
| Financial fixed assets | 28 | €481,202 | €481,202 | = | 0.0% |
| Current assets | 29/58 | €370,230 | €272,847 | -€97,383 | -26.3% |
| Amounts receivable within one year | 40/41 | €54,961 | €51,885 | -€3,076 | -5.6% |
| Trade receivables | 40 | €16,335 | €16,335 | = | 0.0% |
| Other amounts receivable | 41 | €38,626 | €35,550 | -€3,076 | -8.0% |
| Current investments | 50/53 | - | €150,174 | +€150,174 | |
| Cash at bank and in hand | 54/58 | €192,731 | €68,263 | -€124,468 | -64.6% |
| Deferred charges and accrued income | 490/1 | €122,538 | €2,525 | -€120,013 | -97.9% |
| Total equity and liabilities | 10/49 | €873,784 | €860,463 | -€13,321 | -1.5% |
| Equity | 10/15 | €713,299 | €777,496 | +€64,197 | +9.0% |
| Contributions | 10/11 | €125,800 | €125,800 | = | 0.0% |
| Reserves | 13 | €572,013 | €636,210 | +€64,197 | +11.2% |
| Distributable reserves | 133 | €572,013 | €636,210 | +€64,197 | +11.2% |
| Profit (loss) carried forward | 14 | €15,486 | €15,486 | = | 0.0% |
| Amounts payable | 17/49 | €160,485 | €82,967 | -€77,519 | -48.3% |
| Amounts payable after more than one year | 17 | €10,410 | €5,311 | -€5,098 | -49.0% |
| Financial debts | 170/4 | €10,410 | €5,311 | -€5,098 | -49.0% |
| Amounts payable within one year | 42/48 | €150,076 | €77,655 | -€72,421 | -48.3% |
| Current portion of amounts payable after more than one year | 42 | €14,459 | €5,098 | -€9,361 | -64.7% |
| Financial debts | 43 | €8,383 | €7,927 | -€456 | -5.4% |
| Credit institutions | 430/8 | €8,383 | €7,927 | -€456 | -5.4% |
| Trade debts | 44 | €711 | €11,856 | +€11,145 | +1567.2% |
| Suppliers | 440/4 | €711 | €11,856 | +€11,145 | +1567.2% |
| Taxes, remuneration and social security | 45 | €31,546 | €46,243 | +€14,697 | +46.6% |
| Taxes | 450/3 | €30,046 | €43,848 | +€13,802 | +45.9% |
| Remuneration and social security | 454/9 | €1,500 | €2,395 | +€895 | +59.7% |
| Other amounts payable | 47/48 | €94,976 | €6,530 | -€88,446 | -93.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,404 | €21,580 | +€18,176 | +534.0% |
| Other operating charges | 640/8 | €449 | €3,571 | +€3,122 | +694.7% |
| Non-recurring operating charges | 66A | €10,337 | €0 | -€10,337 | -100.0% |
| Gross operating margin | 9900 | €141,419 | €129,046 | -€12,373 | -8.7% |
| Operating profit (loss) | 9901 | €127,229 | €103,895 | -€23,334 | -18.3% |
| Financial income | 75/76B | €120,000 | €250 | -€119,750 | -99.8% |
| Recurring financial income | 75 | €120,000 | €250 | -€119,750 | -99.8% |
| Financial charges | 65/66B | €1,861 | €916 | -€945 | -50.8% |
| Recurring financial charges | 65 | €1,861 | €916 | -€945 | -50.8% |
| Profit (loss) for the period before taxes | 9903 | €245,368 | €103,228 | -€142,140 | -57.9% |
| Income taxes | 67/77 | €51,589 | €39,030 | -€12,558 | -24.3% |
| Profit (loss) for the period | 9904 | €193,779 | €64,197 | -€129,582 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €193,779 | €64,197 | -€129,582 | -66.9% |
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 9 October 2026 via checked.be.