ARJI: 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.
What changed
ARJI
NACE 46.492, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€51,187
2024 · -€4,397+€55,585
Equity
€1.1m
2024 · €1.2m-€50,813
Cash
€476,869
2024 · €469,313+€7,557
Balance sheet total
€1.3m
2024 · €1.4m-€103,291
Largest movements
Assets
- Receivables within one year -€69,169
down €69,169 (-60.4%), from €114,604 to €45,435
of which Other amounts receivable: -€73,307
- Stocks and contracts -€44,274
down €44,274 (-10.5%), from €421,175 to €376,901
Equity and liabilities
- Other debts -€68,907
down €68,907 (-57.0%), from €120,907 to €52,000
- Reserves -€50,813
down €50,813 (-7.0%), from €727,298 to €676,486
of which Distributable reserves: -€50,813
- Trade debts +€26,901
up €26,901 (+72.1%), from €37,329 to €64,230
Income statement
- Gross operating margin +€48,391
up €48,391 (+12.9%), from €373,948 to €422,339
- Taxes +€17,912
up €17,912 (+3707.1%), from €483 to €18,395
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.
Result 2024
-€4,397
Gross operating margin
+€48,391
Staff costs
+€1,055
Depreciation
-€115
Other operating charges
-€2,127
Other operating items
+€25,174
Financial income
+€74
Financial charges
+€1,044
Taxes
-€17,912
Result 2025
€51,187
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.
From operations
+€138,965
Investment
-€29,409
Financing
-€102,000
Cash 2024
€469,313
From operations (derived)
+€138,965
Net result for the year
+€51,187
Depreciation
+€20,806
Stocks and contracts
+€44,274
Receivables within one year
+€69,169
Deferred charges and accrued income
+€6,008
Trade debts
+€26,901
Tax, wage and social debts
-€11,387
Advances received
+€1,690
Other debts
-€68,907
Accrued charges and deferred income
-€775
Investment (derived)
-€29,409
Investment in fixed assets (net)
-€29,409
Financing
-€102,000
Contributions, distributions and other
-€102,000
Cash 2025
€476,869
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,385,912 | €1,282,621 | -€103,291 | -7.5% |
| Fixed assets | 21/28 | €67,105 | €75,708 | +€8,603 | +12.8% |
| Tangible fixed assets | 22/27 | €64,605 | €73,208 | +€8,603 | +13.3% |
| Land and buildings | 22 | €16,892 | €15,225 | -€1,667 | -9.9% |
| Plant, machinery and equipment | 23 | €6,035 | €32,700 | +€26,665 | +441.8% |
| Furniture and vehicles | 24 | €41,678 | €25,282 | -€16,395 | -39.3% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €1,318,808 | €1,206,914 | -€111,894 | -8.5% |
| Stocks and contracts in progress | 3 | €421,175 | €376,901 | -€44,274 | -10.5% |
| Stocks | 30/36 | €421,175 | €376,901 | -€44,274 | -10.5% |
| Amounts receivable within one year | 40/41 | €114,604 | €45,435 | -€69,169 | -60.4% |
| Trade receivables | 40 | €20,211 | €24,349 | +€4,138 | +20.5% |
| Other amounts receivable | 41 | €94,393 | €21,086 | -€73,307 | -77.7% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €469,313 | €476,869 | +€7,557 | +1.6% |
| Deferred charges and accrued income | 490/1 | €13,715 | €7,707 | -€6,008 | -43.8% |
| Total equity and liabilities | 10/49 | €1,385,912 | €1,282,621 | -€103,291 | -7.5% |
| Equity | 10/15 | €1,155,571 | €1,104,759 | -€50,813 | -4.4% |
| Contributions | 10/11 | €428,273 | €428,273 | = | 0.0% |
| Reserves | 13 | €727,298 | €676,486 | -€50,813 | -7.0% |
| Non-distributable reserves | 130/1 | €36,727 | €36,727 | = | 0.0% |
| Reserves not available under the articles | 1311 | €36,727 | €36,727 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,802 | €24,802 | = | 0.0% |
| Distributable reserves | 133 | €665,769 | €614,957 | -€50,813 | -7.6% |
| Amounts payable | 17/49 | €230,341 | €177,863 | -€52,478 | -22.8% |
| Amounts payable within one year | 42/48 | €229,566 | €177,863 | -€51,703 | -22.5% |
| Trade debts | 44 | €37,329 | €64,230 | +€26,901 | +72.1% |
| Suppliers | 440/4 | €37,329 | €64,230 | +€26,901 | +72.1% |
| Advances received on contracts in progress | 46 | - | €1,690 | +€1,690 | |
| Taxes, remuneration and social security | 45 | €71,330 | €59,943 | -€11,387 | -16.0% |
| Taxes | 450/3 | €37,333 | €34,269 | -€3,064 | -8.2% |
| Remuneration and social security | 454/9 | €33,997 | €25,674 | -€8,323 | -24.5% |
| Other amounts payable | 47/48 | €120,907 | €52,000 | -€68,907 | -57.0% |
| Accrued charges and deferred income | 492/3 | €775 | €0 | -€775 | -100.0% |
| Remuneration, social security and pensions | 62 | €338,096 | €337,041 | -€1,055 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,690 | €20,806 | +€115 | +0.6% |
| Other operating charges | 640/8 | €9,076 | €11,202 | +€2,127 | +23.4% |
| Non-recurring operating charges | 66A | €25,174 | - | -€25,174 | |
| Gross operating margin | 9900 | €373,948 | €422,339 | +€48,391 | +12.9% |
| Operating profit (loss) | 9901 | -€19,088 | €53,290 | +€72,378 | |
| Financial income | 75/76B | €16,746 | €16,820 | +€74 | +0.4% |
| Recurring financial income | 75 | €16,746 | €16,820 | +€74 | +0.4% |
| Financial charges | 65/66B | €1,572 | €528 | -€1,044 | -66.4% |
| Recurring financial charges | 65 | €1,572 | €528 | -€1,044 | -66.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,914 | €69,582 | +€73,496 | |
| Income taxes | 67/77 | €483 | €18,395 | +€17,912 | +3707.1% |
| Profit (loss) for the period | 9904 | -€4,397 | €51,187 | +€55,585 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,397 | €51,187 | +€55,585 |
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 2 October 2026 via checked.be.