Arjoli: 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.
Arjoli
Largest movements
- Cash +€195,393
up €195,393 (+74.8%), from €261,292 to €456,686
- Tangible fixed assets -€24,590
down €24,590 (-92.2%), from €26,678 to €2,088
of which Furniture and vehicles: -€26,678
- Receivables within one year +€16,637
up €16,637 (+38.8%), from €42,885 to €59,521
of which Trade receivables: +€17,662
- Reserves +€162,878
up €162,878 (+58.3%), from €279,524 to €442,401
- Tax, wage and social debts +€30,760
up €30,760 (+79.2%), from €38,856 to €69,615
- Accrued charges and deferred income -€7,017
no longer reported in 2025 (was €7,017)
- Contributions -€6,200
no longer reported in 2025 (was €6,200)
- Gross operating margin +€182,926
up €182,926 (+147%), from €124,357 to €307,283
- Taxes +€54,448
up €54,448 (+134%), from €40,640 to €95,088
- Financial charges +€12,746
up €12,746 (+1,559%), from €817 to €13,563
of which Non-recurring financial charges: +€13,283
- Depreciation -€5,216
down €5,216 (-51.4%), from €10,139 to €4,922
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €335,243 | €519,656 | +€184,413 | +55.0% |
| Fixed assets | 21/28 | €26,678 | €2,088 | -€24,590 | -92.2% |
| Tangible fixed assets | 22/27 | €26,678 | €2,088 | -€24,590 | -92.2% |
| Furniture and vehicles | 24 | €26,678 | - | -€26,678 | |
| Leasing and similar rights | 25 | - | €2,088 | +€2,088 | |
| Current assets | 29/58 | €308,565 | €517,568 | +€209,003 | +67.7% |
| Amounts receivable within one year | 40/41 | €42,885 | €59,521 | +€16,637 | +38.8% |
| Trade receivables | 40 | €28,252 | €45,913 | +€17,662 | +62.5% |
| Other amounts receivable | 41 | €14,633 | €13,608 | -€1,025 | -7.0% |
| Cash at bank and in hand | 54/58 | €261,292 | €456,686 | +€195,393 | +74.8% |
| Deferred charges and accrued income | 490/1 | €4,388 | €1,361 | -€3,027 | -69.0% |
| Total equity and liabilities | 10/49 | €335,243 | €519,656 | +€184,413 | +55.0% |
| Equity | 10/15 | €285,724 | €442,401 | +€156,678 | +54.8% |
| Contributions | 10/11 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €279,524 | €442,401 | +€162,878 | +58.3% |
| Distributable reserves | 133 | €279,524 | €442,401 | +€162,878 | +58.3% |
| Amounts payable | 17/49 | €49,519 | €77,255 | +€27,736 | +56.0% |
| Amounts payable within one year | 42/48 | €42,502 | €77,255 | +€34,753 | +81.8% |
| Trade debts | 44 | €3,646 | €7,640 | +€3,993 | +110% |
| Suppliers | 440/4 | €3,646 | €7,640 | +€3,993 | +110% |
| Taxes, remuneration and social security | 45 | €38,856 | €69,615 | +€30,760 | +79.2% |
| Taxes | 450/3 | €38,856 | €69,615 | +€30,760 | +79.2% |
| Accrued charges and deferred income | 492/3 | €7,017 | - | -€7,017 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,139 | €4,922 | -€5,216 | -51.4% |
| Other operating charges | 640/8 | €1,649 | €2,349 | +€700 | +42.5% |
| Gross operating margin | 9900 | €124,357 | €307,283 | +€182,926 | +147% |
| Operating profit (loss) | 9901 | €112,569 | €300,012 | +€187,442 | +167% |
| Financial income | 75/76B | - | €2,307 | +€2,307 | |
| Recurring financial income | 75 | - | €2,307 | +€2,307 | |
| Financial charges | 65/66B | €817 | €13,563 | +€12,746 | +1,559% |
| Recurring financial charges | 65 | €817 | €280 | -€537 | -65.7% |
| Non-recurring financial charges | 66B | - | €13,283 | +€13,283 | |
| Profit (loss) for the period before taxes | 9903 | €111,752 | €288,755 | +€177,003 | +158% |
| Income taxes | 67/77 | €40,640 | €95,088 | +€54,448 | +134% |
| Profit (loss) for the period | 9904 | €71,112 | €193,667 | +€122,556 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €71,112 | €193,667 | +€122,556 | +172% |
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.