ARJINVEST: 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.
ARJINVEST
Largest movements
- Deferred charges and accrued income +€764,424
up €764,424 (+1653.5%), from €46,230 to €810,654
- Tangible fixed assets +€285,670
up €285,670 (+99.7%), from €286,602 to €572,272
of which Plant, machinery and equipment: +€285,807
- Receivables within one year -€153,863
down €153,863 (-47.5%), from €323,935 to €170,072
of which Other amounts receivable: -€178,768
- Cash +€38,922
up €38,922 (+106.0%), from €36,721 to €75,642
mainly Other debts (+€330,507) and Net result for the year (+€321,292)
- Other debts +€330,507
up €330,507 (+47.6%), from €695,061 to €1.0m
- Profit (loss) carried forward +€321,292
up €321,292 (+50.0%), from -€642,618 to -€321,326
- Trade debts +€192,826
up €192,826 (+30.5%), from €631,726 to €824,553
- Tax, wage and social debts +€68,934
up €68,934 (+91.1%), from €75,675 to €144,609
of which Remuneration and social security: +€62,528
- Investment grants +€31,879
up €31,879 (+943.1%), from €3,380 to €35,259
- Gross operating margin +€791,392
up €791,392 (+57.1%), from €1.4m to €2.2m
- Staff costs +€245,471
up €245,471 (+17.6%), from €1.4m to €1.6m
- Financial charges +€33,656
up €33,656 (+45.3%), from €74,271 to €107,927
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 | €836,573 | €1,774,212 | +€937,639 | +112.1% |
| Fixed assets | 21/28 | €297,606 | €587,307 | +€289,701 | +97.3% |
| Intangible fixed assets | 21 | €7,719 | €11,750 | +€4,031 | +52.2% |
| Tangible fixed assets | 22/27 | €286,602 | €572,272 | +€285,670 | +99.7% |
| Plant, machinery and equipment | 23 | €276,600 | €562,406 | +€285,807 | +103.3% |
| Furniture and vehicles | 24 | €6,506 | €7,594 | +€1,088 | +16.7% |
| Other tangible fixed assets | 26 | €3,496 | €2,272 | -€1,224 | -35.0% |
| Financial fixed assets | 28 | €3,285 | €3,285 | = | 0.0% |
| Current assets | 29/58 | €538,966 | €1,186,904 | +€647,938 | +120.2% |
| Stocks and contracts in progress | 3 | €132,081 | €130,536 | -€1,545 | -1.2% |
| Stocks | 30/36 | €132,081 | €130,536 | -€1,545 | -1.2% |
| Amounts receivable within one year | 40/41 | €323,935 | €170,072 | -€153,863 | -47.5% |
| Trade receivables | 40 | €107,051 | €131,956 | +€24,905 | +23.3% |
| Other amounts receivable | 41 | €216,884 | €38,116 | -€178,768 | -82.4% |
| Cash at bank and in hand | 54/58 | €36,721 | €75,642 | +€38,922 | +106.0% |
| Deferred charges and accrued income | 490/1 | €46,230 | €810,654 | +€764,424 | +1653.5% |
| Total equity and liabilities | 10/49 | €836,573 | €1,774,212 | +€937,639 | +112.1% |
| Equity | 10/15 | -€584,701 | -€231,530 | +€353,171 | +60.4% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Capital | 10 | €49,579 | €49,579 | = | 0.0% |
| Issued capital | 100 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €4,958 | €4,958 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,958 | €4,958 | = | 0.0% |
| Legal reserve | 130 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€642,618 | -€321,326 | +€321,292 | +50.0% |
| Investment grants | 15 | €3,380 | €35,259 | +€31,879 | +943.1% |
| Amounts payable | 17/49 | €1,421,274 | €2,005,742 | +€584,468 | +41.1% |
| Amounts payable within one year | 42/48 | €1,421,210 | €2,004,545 | +€583,334 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €18,748 | €9,814 | -€8,933 | -47.6% |
| Trade debts | 44 | €631,726 | €824,553 | +€192,826 | +30.5% |
| Suppliers | 440/4 | €631,726 | €824,553 | +€192,826 | +30.5% |
| Taxes, remuneration and social security | 45 | €75,675 | €144,609 | +€68,934 | +91.1% |
| Taxes | 450/3 | €7,683 | €14,089 | +€6,406 | +83.4% |
| Remuneration and social security | 454/9 | €67,993 | €130,520 | +€62,528 | +92.0% |
| Other amounts payable | 47/48 | €695,061 | €1,025,568 | +€330,507 | +47.6% |
| Accrued charges and deferred income | 492/3 | €63 | €1,197 | +€1,134 | +1785.5% |
| Non-recurring operating income | 76A | €23,766 | €740,347 | +€716,581 | +3015.2% |
| Remuneration, social security and pensions | 62 | €1,396,689 | €1,642,160 | +€245,471 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,094 | €80,617 | +€3,523 | +4.6% |
| Other operating charges | 640/8 | €19,148 | €25,021 | +€5,873 | +30.7% |
| Non-recurring operating charges | 66A | €100 | - | -€100 | |
| Gross operating margin | 9900 | €1,385,466 | €2,176,858 | +€791,392 | +57.1% |
| Operating profit (loss) | 9901 | -€107,565 | €429,059 | +€536,624 | |
| Financial income | 75/76B | €240 | €160 | -€80 | -33.3% |
| Recurring financial income | 75 | €240 | €160 | -€80 | -33.3% |
| Financial charges | 65/66B | €74,271 | €107,927 | +€33,656 | +45.3% |
| Recurring financial charges | 65 | €74,271 | €107,927 | +€33,656 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | -€181,595 | €321,292 | +€502,888 | |
| Income taxes | 67/77 | €614 | - | -€614 | |
| Profit (loss) for the period | 9904 | -€182,209 | €321,292 | +€503,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€182,209 | €321,292 | +€503,501 |
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 10 October 2026 via checked.be.